What will cheap gas and coal do to the renewable energy market?
Answer: It won’t stop it.
A new report found that despite low gas and coal prices, investment in the renewable energy market is expected to see record levels. Renewables are expected to attract $7.8 trillion by 2040, a four-fold increase over carbon-based energy in the same period. Today, 80 percent of the earth’s energy consumption is derived from fossil fuels, comprising two-thirds of all greenhouse gas emissions. Renewable energy in the U.S. is expected to increase from today’s 14 percent to 44 percent by 2040, Phys.org reported.
