There was just a piece distributed by the Solar Energy Industry Association that quotes a new Bloomberg Study that says over the next 25 years, fossil fuel power will generate $2.1 trillion in investments, while renewables will attract some $7.8 trillion in investments. Solar will account for almost half of all investment in renewables over that time, helping overtake fossil fuels as the global power source leader. Read more here.
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Europe is way in front of the US in solar and other renewables. Some countries are up to 50 percent renewables and it's largely because of a collective decision to promote renewables.
https://en.wikipedia.org/wiki/Renewable_energy_in_the_European_Union
The question is why don't we do this -- or you might ask, why did Americans elect George Bush and Barak Obama and then nominate Donald Trump and Hillary Clinton -- and why people here don't know there's another way for government to behave and for people to live.
If you look into that piece you posted to, it's produced by a separate wing of Bloomberg media that already has many bureaus and is devoted solely to renewable energy Capitalism. Bloomberg of course is owned by progressive Republican entrepreneur later politician Michael Bloomberg, so he can create such a wing if he wants to. Meanwhile Rupert Murdoch creates climate denying Fox News, and the one nominally Liberal network owned outlet, MSNBC, has been purging itself of its Liberal personalities.
Oilprice.com, where I follow the oil industry, has now picked this story up and put it on their front page and says this:
"This epochal shift from fossil fuels to clean energy will result in a dark future for companies producing oil, gas and coal."
http://oilprice.com/Energy/Energy-General/Solar-To-See-34-Trillion-In-Investment-To-2040-Fossil-Fuels-Only-32-Trilli.html
This also brings to mind a small flurry of articles a month or two ago about Saudi Arabia; it's frantically spending its fast dwindling cash reserves trying to re-orient its economy away from oil. They know. I wish Susana Martinez and Slim Aubrey Dunn did. As Oilprice.com and one of your Bloomberg articles put it, the rise of cheap solar will cause a permanent oil and gas glut.
I suppose Susana Martinez will sit out our "dark future" back in her home town of El Paso and Aubrey Dunn will be in the scrap business.
http://tinyurl.com/hs2kk2a
The tax credits for solar dry up under Martinez, but the oil and gas credits are in perpetuity. Says it all about how misdirected this governor and her party are with economic development. Instead of leading the country and world in solar and wind technology, our economy shrunk by 1.6% in the 4th quarter because gas prices drop. Martinez and her party missed the boat and I hope it's not too late for NM to recover from this administration Remember how she ranted against the film industry? Well that's been only economic plus and notice how she takes the credit ignoring the film industry was enticed to NM by the former governor. Martinez has no economic plan and hasn't had one for 6 long years of dismal economic impact for our state. There's a reason the social conditions in our state have worsened.
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