The Future Is Renewable - How Renewable Energy Is Coming To Dominate

Renewable energy is no longer a distant future, it's the present; and more so everyday.

Although 2014 is the most recent year we have data for, it paints a stark picture. Only 4.2% of the world electricity comes from wind, solar, geothermal, and tidal combined. So why the reason for optimism?

In 2016, more renewable capacity was added than fossil fuels (and that's excluding large hydro projects). In fact, it's been that way every year since 2013. Solar and wind is being added to the grid at a furious rate. Even though the data is only 2 years out of date, it's likely the 4.2% is already noticeably higher in reality.

All this comes among some very exciting developments. The US just got 10% of their electricity from solar and wind this March, for the first time ever. Utility solar tends to become 10-15 percent cheaper ever year. At that rate, we will see it become cheaper than natural gas in the next 2 to 4 years without subsidies. Wind energy is likely to become cheaper within 12 months.

The other major factor is increasing government support. Canada just mandated a national price on carbon, with China following as well. A multitude of other major polluters are also considering or implementing their own as well. The signing of the Paris Agreement only adds to hope that the world can get off fossil fuels.

All of this adds up to a grim future for fossil fuels in the electricity generation market. They're likely to see continued downfall, especially coal.

With the rate of renewable energy being installed, they can be expected to continue to dominate fossil fuels in the coming years. Sometime not too far in the future, we could see a grid consisting of 100% clean energy worldwide.