After U.S. president Donald Trump made a decision to pull the country out of the Paris Climate Agreement, many expected a reduction in the nation's efforts to transition to clean and sustainable energy.
"What Cheap, Clean Energy Means for Global Utilities", a report published Thursday by financial services firm Morgan Stanley, analysts confirm that renewable energy is fast becoming the cheapest option.
Quartz stated that the affordability of renewable energy is increasing across the world.
According to the report, the price of solar panels has fallen by 50% between 2016 and 2017.
Donald Trump to make United Kingdom state visit next year, reveal government officials
Queen Elizabeth was expected to announce Trump's visit in her speech in June, where she set out her official plans for the year. In January, Queen Elizabeth invited Donald Trump over to Britain when the UK Prime Minister, Theresa May visited Washington.
"We project that by 2020, renewables will be the cheapest form of new-power generation across the globe", said Morgan Stanley.
"Renewable power will be the cheapest new entrant in most markets, in our view, and we assess emissions rate of change profiles over near (2020) and longer (2025) time frames". For example, notwithstanding president Trump's stated intention to withdraw the USA from the Paris climate accord, we expect the U.S.to exceed the Paris commitment of a 26-28% reduction in its 2005-level carbon emissions by 2020.
But regardless of policy debate, the report suggests that the power industry will be steered by economics, to one degree or another, with those forward looking businesses faring the best.
- Los primeros días en prisión domiciliaria del líder opositor, Leopoldo López
- Tour de France à la voile. Collision impressionnante
- Amazon won't be the only store with great deals for Prime Day
- Ligue 1 : L'OM aurait dit non à Eto'o
- Trump renews love-in with China's Xi Jinping
- Rob Kardashian restraining order issued
- Sanofi va débourser 750M — Protein Sciences
- Indian fishermen handed over to BSF
- Oilers sign D Auvitu to one-year deal
- Carillion CEO steps down after shares crash