Renewables and Forecast to be Cheaper than Fossil Fuel in 2020: What is the Future of Clean Energy?

Fossil fuels

Fossil fuels (e.g., coal, petroleum, and natural gas) have been the main source of energy for generations. Because they are the result of millions of years’ worth of plant and animal decomposition, they are not renewable. On top of the possibility of running out, they have increasingly negative effects on the environment. The largest emitter of greenhouse gases, like carbon dioxide, fossil fuels heavily pollute the air and its surroundings. The future depends on the transition toward renewable, clean energy.

Fossil Fuel Alternatives

As solar panels and electric vehicles become more economical, projections show that the demand for fossil fuels is set to fall by 2020. In fact, affordable electric vehicles could cut the need for oil by two million barrels a day by 2025. As the desire for more environmentally conscious alternatives rose, so did the need for technological advancements in the clean energy industry.

The cost for solar panels, for example, has decreased by 85% in seven years, and battery costs have dropped by 73% in the same time. This is occurring simultaneously with the 60% increase in demand for electric vehicles per year. With the ability to affordably refuel a vehicle at a charging station, we can take a legitimate step toward combating rising global temperatures.

Global Demand for Smart Energy

Projections show that 29% of the global power could be sustainably managed by solar panels by the year 2050. This could result in the total phasing out of coal altogether. Another study showed that the total contribution from all renewables to global power could reach 11% sooner, by 2040.

Clean energy is becoming that much more innovative, and as a result, that much more accessible. Because of this, businesses can do their part by assessing their current energy usage and determining how they can work toward greater sustainability. SuperGreen Solutions can conduct an energy audit and can help your business take the necessary steps toward cleaner, smarter energy practices.

Learn more about our energy audits and how your business can start working towards using clean energy moving forward, contact SuperGreen Solutions today.