As the price for renewable energy falls. It becomes competitive with traditional sources of electricity. Driving the convergence of the renewable power and traditional. Fossil fuel-based power markets. In the final part of this three-part Q&A. Market experts at Schneider Electric respond to common questions about energy convergence. Focusing on addressing those still not sold on the idea of corporate renewable energy. Aren’t renewables just propped up by subsidies.
Won’t the cost go back up when subsidies are no longer available?
It is true that renewable energy growth has been bolstered by subsidization. However, at scale, renewable prices have reached parity with Turkey WhatsApp Number Data traditional energy. sources in many markets. and the price for renewables is projected to continue to fall. As has been widely reported, unsubsidized hydropower, wind power, and solar power are now three of the cheapest. energy sources worldwide, surpassing the price for coal and challenging even the low price of natural gas for market dominance.
This price parity explain
The proliferation of renewable power growth in the past decade. Which has now reached one-third of generation globally. It is notable that renewable energy is not the only power source that has benefitted from subsidization. A 2019 report from the Australia Email List International Monetary Fund (IMF) found that 6.3 percent of global GDP in 2015 was to subsidize fossil fuel consumption. Why shouldn’t we just wait until our government mandates renewable power for everyone. Commodities, energy benefits from market competition.
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