Grid Parity Low LCOE Driving 34 Global Renewables Capacity by 2030

CleanTechnica has an article on the growth factors for renewable energy -Grid Parity, Low LCOE Driving 34% Global Renewables Capacity by 2030.

When it comes to global electricity generation, coal is still king – but not for long.

Fast-changing economics mean renewables worldwide will represent 34% of all installed capacity by 2030, according to “World Energy Perspective: Cost of Energy Technologies,” a report from the World Energy Council (WEC) and Bloomberg New Energy Finance (BNEF).

The report finds many clean energy technologies are already cost competitive with fossil fuels and only getting cheaper, echoing another analysis that found US wind and solar costs fell 50% since 2008. As a result, fossil fuel’s slice of the world energy pie is projected to fall fast, from 67% in 2012 to 40%-45% in 2030.