“Solar power will kill coal faster than you think”

Solar power costs are falling so rapidly that the technology will replace fossil fuels like coal much faster than previously forecast, Jess Shankleman and Hayley Warren say in an article for Bloomberg. According to an outlook by Bloomberg New Energy Finance (BNEF), solar power already has an edge over coal power in Germany and the US, and a similar development is expected in rapidly growing China and India by 2021. “It would mean that global carbon dioxide pollution from fossil fuels may decline after 2026, a contrast with the International Energy Agency’s central forecast, which sees emissions rising steadily for decades to come”, they write.

Read the article in English here.

See the CLEW article Last major German solar cell maker surrenders to Chinese competition for more information.