The power sector is about to enter a “new era of falling fossil generation” as coal, oil and gas are pushed out of the grid by a record expansion of wind and solar power, according to new analysis by climate thinktank Ember.
An extra $460bn per year needs to be invested on the low-carbon economy globally over the next 12 years to limit global warming to 1.5C, a new paper says.
Efforts by the White House and Congress to enact tax reforms are posing clear and present dangers to existing renewable energy tax credits. The House and Senate versions of the Tax Cuts and Jobs Act of 2017 differ in their impacts. Should the final legislation more closely resemble the House version of the legislation, the negative impacts will be especially felt by the wind and electric vehicle industries.
There is a psychology that sets in once the corner is turned on fossil investments that may make a big difference in the political debate about climate change.
Though climate change will no doubt prove to be one aspect of stranded assets, others will include a simple but powerful realization that there are simply better places to put your investment dollars…or euros…or yuan.