A UN Environment report has concluded that 2016 investment in renewables outpaced fossil fuels in dollars and gigawatt capacity. Total global investment exceeded US$240 billion.
Noting US$110 billion in global acquisitions in the power sector, Prof Udo Steffens, President of the Frankfurt School of Finance & Management said, “the investor hunger for existing wind and solar farms is a strong signal for the world to move to renewables”.
In Tasmania on Thursday, PM Malcolm Turnbull announced feasibility studies to double the capacity of Tas Hydro to create “the battery of Australia”.
Meanwhile in America, the Kentucky Coal Mining Museum has installed solar panels. Why? Well, solar was the cheapest option for power.
Image: Tasmania’s Gordon Dam. By Wayne McLean / CC-BY-SA 2.5
This story is taken from the 21 April 2017 edition of The Warren Centre’s Prototype newsletter. Sign up for the Prototype here.