With the falling oil prices recently many are wondering if this will derail all the progress that has been made toward renewable energy sources—it won’t, and here’s why: Renewables mostly compete with coal-fired power plants for electricity generation. The price of coal has fallen in recent months as well but is now at about the same level as a year ago. And, as we recently reported, a recent study by Deutsche Bank predicts “grid parity” for solar in all 50 US states within two years. Large power projects could only be impacted at the conceptual level, before they’re built. That’s why the oil price is not changing the trend towards renewables.
Falling oil prices won’t impact rise of renewables
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