Is Alternative Energy Cheaper Than Fossil Fuels

Renewable energy has reached an important milestone.

Is alternative energy cheaper than fossil fuels.

With renewable energy you can breathe easier stay cooler and create a more comfortable world for generations to come. Renewable energy is now a compelling alternative as it costs less than fossil fuels says michael milken published thu sep 19 2019 3 21 am edt updated thu sep 19 2019 3 43 am edt huileng tan. The world economic forum wef has determined that in many parts of the world solar energy is now the same price or even cheaper than fossil fuels for the first time. In two thirds of the world renewable sources of power are more affordable than carbon based electricity.

The cost of renewable energy is now falling so fast that it should be a consistently cheaper source of electricity generation than traditional fossil fuels within just a few years according to a. New report predicts renewable energy will be cheaper than fossil fuels by 2020 turning to renewables for new power generation is not simply an environmentally conscious decision it is now. Although coal use has declined in recent years natural gas use has soared while oil s share of the nation s energy tab has fluctuated between 35 and 40. When comparing renewable energy to fossil fuels remember that renewable energy generation is cleaner easier to sustain over time expanding more rapidly and sometimes even cheaper than fossil fuels.

In 2018 those fossil fuels fed about 80 of the nation s energy demand down slightly from 84 a decade earlier. For renewables to be a viable replacement for fossil fuels companies need to price them similarly.