Renewable energy is surpassing fossil fuels for the first time in new power-plant investments, shaking off setbacks from the financial crisis and an impasse at the United Nations global warming talks.
Electricity from the wind, sun, waves and biomass drew $187 billion last year compared with $157 billion for natural gas, oil and coal, according to calculations by Bloomberg New Energy Finance using the latest data. Accelerating installations of solar- and wind-power plants led to lower equipment prices, making clean energy more competitive with coal.
"The progress of renewables has been nothing short of remarkable," United Nations Environment Program Executive Secretary Achim Steiner said in an interview. "You have record investment in the midst of an economic and financial crisis."
The findings indicate the world is shifting toward consuming more renewable energy even without a global agreement on limiting greenhouse gases. Delegates from more than 190 nations converge in Durban, South Africa, on Nov. 28 to discuss new measures for limiting emissions damaging the climate.
The Trump administration has overhauled a set of nuclear safety directives and shared them with the...
A federal judge on Thursday cleared the way for a New York offshore wind project to...
For those who did not manage to buy portable gas heaters and stoves, firebricks have become...
Europe’s biggest offshore wind developer is taking the Trump administration to court over its decision to...
