Renewable energy becoming cheaper than fossil fuels
Back in 2008 Australia was ranked as the highest emitter of greenhouse gases of any OECD country and amongst the highest in the whole world. The reason for this its high carbon footprint is because of the countries reliance on coal and other fossil fuels for electricity generation. However, a new study carried out by the Bloomberg New Energy Finance (BNEF) points to a cleaner energy future with the claim that unsubsidized renewable energy is now a cheaper option for electricity generation than new coal- or gas-fired power stations.
“The perception that fossil fuels are cheap and renewables are expensive is now out of date,” said Michael Liebreich, chief executive of BNEF. “The fact that wind power is now cheaper than coal and gas in a country with some of the world’s best fossil fuel resources (Australia is the world’s second largest coal exporter after Indonesia) shows that clean energy is a game changer which promises to turn the economics of power systems on its head.”
Analysts believe that the construction of new fossil fuel-fired power stations in Australia is unlikely and more renewable energy power stations such as wind turbine farms will be created. Just as Australia, here in Britain is it likely we will follow suit and the sooner the better. The sooner we start to use renewable energy the better for our whole country. There are plenty of renewable energy courses for people who would like to be involved in the development and upcoming popularity of renewable energy.