Financial Times on how renewable energy became unstoppable
Elon Musk presenting Tesla's Gigafactory, Nevada (source: flickr/ Steve Jurvetson, creative commons)
Parker O'Halloran
1 Jun 2017
The transition to a low-carbon future is coming and companies are getting on board before it is too late.
In an article published in the Financial Times titled “The Big Green Bang: how renewable energy became unstoppable”, a future is outlined where traditional energy companies are struggling to stay afloat in a new reality. Even though governments may be slow to respond to these changes, businesses are starting to see the future of a low carbon energy future and are embracing this. The electric car is given as an example of this rapid change. Ten years ago, it was rare to see an electric car on the roads. Today there is an tremendous growth in electrical vehicles from a variety of manufacturers. Subsequently, battery production has exponentially grown with subsequent price drops. These prices are predicted to decline as more factories come on line to meet demand.
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Source: Dr. Joe Romm. “Financial Times declares a winner in the war for energy’s future, and Big Oil won’t be happy.” May 18, 2017.
