The Falling Costs of Renewable Energy
So, let's subsidize coal.Historically, cost was cited as one of the primary barriers to switching from fossil-based energy sources like oil, coal and gas to renewable energy sources like solar, wind and geothermal.
But the narrative has now changed. Plummeting costs for renewable energy technologies are making a global energy transition not only possible, but actually less expensive than the alternative.
The world currently subsidizes fossil fuels to the tune of more than US$500 billion a year, dwarfing support for renewable energy by a factor of five.