Three ways the world’s power mix is about to change
Big changes are afoot for the energy sector in the next 25 years. Coal and gas are headed out and solar and wind are rushing to take their place on a multi-trillion dollar investment bonanza, according to a new report from Bloomberg New Energy Finance that scopes out the power generating landscape.
.. The world will spend a combined $12.2 trillion on new power-generating capacity over the next 25 years. The majority of that—two-thirds to be exact—will go to renewables like wind and solar thanks to falling costs.
.. The road to remaking the world’s power generation will have two major mileposts. The first comes in 2026. That’s the year when Bloomberg analysts project wind will become the cheapest form of power generation in the world.
.. But wind’s reign will be short. By 2030, utility-scale solar photovoltaic cells—big arrays of panels, not the rooftop version—will take the title of cheapest new power source.