CLIMATE CHANGE – Explained: why renewables became so cheap so fast (Max Roser, WEF)

Workers install a solar panel in Jiuquan, Gansu province, July 14, 2013. China aims to more than quadruple solar power generating capacity to 35 gigawatts by 2015 in an apparent bid to ease a massive glut in the domestic solar panel industry. Picture taken July 14, 2013. REUTERS/Stringer (CHINA - Tags: BUSINESS ENERGY) CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA - GM1E97H0X0A01
Falling renewable energy costs is good news for our planet. Image: REUTERS/Stringer
  • Despite the emissions they produce, fossil fuels currently account for 79% of the world’s energy production.
  • Fossil fuels have long dominated the industry for one major reason: price.
  • Traditionally they were a lot less expensive than other types of energy, but much has changed.
  • The price of solar energy alone has fallen by 89% in the past 10 years.
  • We know that the switch to renewables depends on them being affordable, these charts examine how we can make that happen.