Accelerating Transition to 100% Renewables | Coal & Nuclear Outcompeted | Peak Oil and Peak Gas
As prices for renewables keep falling, the global transition to 100% will happen faster than many think. To accelerate the process, we need innovative policy measures, writes EWG President Hans-Josef Fell. By 2022, global solar PV capacity is set to surpass nuclear for the first time. In the UK, prices for offshore wind energy dropped to a record low, outcompeting new gas and nuclear. The future outlook for fossil fuels looks grim. According to DNV GL analysts, peak oil and peak gas will be reached earlier than forecast, by 2020 and 2035 respectively. Prof. Mark Jacobson of the Stanford University published a groundbreaking study with roadmaps to 100% renewable energy for 139 countries. These news and the op-ed by Prof. Claudia Kemfert, calling Germany to reestablish its energy transition leadership in the run-up to the coming federal election can be found in our August newsletter.