The precipitous drop in costs for renewable energy technology—even from prices a few years ago—means that carbon emissions may decrease faster and hit the targets earlier than those envisioned by the Paris Climate Agreement. Here are three technologies making that happen:
1. Solar – the average price of a MWh of electricity from solar cells has dropped from $394 in 2009 to $55 today. Solar accounted for 39% of all new electric generating capacity last year, topping all other methods for the first time.
2. Wind – the cost of wind power has likewise dropped dramatically, from an average of $135 per megawatt-hour in 2009 to $47. Wind energy is currently generated in 41 of the 50 U.S. states, with capacity of 82,000 megawatts, double the amount 6 years ago.
3. Electric Vehicles (EVs) – the changes in EV availability, cost, range and customer acceptance are remarkable.
EVs like the Tesla 3 and Chevy Bolt have a range of over 200 miles. Even the 25-30 mile range of many new plug-in hybrids covers over 80% of the trips most people take, with the gasoline engine available for the remainder. The cost of the new Tesla and Bolt is around $35,000, yet the average cost of a new car…
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