"Renewables to Beat Fossil Fuels With $3.7 Trillion Solar Boom"

"Renewable energy will draw almost two-thirds of the spending on new power plants over the next 25 years, dwarfing spending on fossil fuels, as plunging costs make solar the first choice for consumers and the poorest nations.

Solar power will draw $3.7 trillion in investment through 2040, with a total of $8 trillion going toward clean energy. That’s almost double the $4.1 trillion that will be spent on coal, natural gas and nuclear plants, according to a forecast from Bloomberg New Energy Finance.

The figures show the traditional dominance of coal and natural gas suppliers will slip in the coming years as cheaper renewables mean developing nations can tap less-polluting sources to meet their swelling energy needs. The forecast from New Energy Finance also indicates that coal will remain an important fuel, suggesting policy makers must take further steps to control greenhouse gases."

Ehren Goossens reports for Bloomberg June 23, 2015.

SEE ALSO:

"CEOs Grapple With An Elephant in the Room -- the Future of Electricity" (EnergyWire)

"GOP Paints Bull's-Eye on Clean Power Plan With Week of Votes And Hearings" (E&E Daily)