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Wednesday, February 8, 2017

Solar PV And Electric Vehicles Could Topple Fossil Fuel /Renewable Now.biz

Get ready to drive EV's and plug-in hybrids.  And, to save money and live healthier.



A new report warns fossil fuels may lose 10 per cent of market share to solar panels and electric vehicles within just a decade; enough to cripple energy incumbents.

A new report forecasts that fossil fuels may lose 10 per cent of market share to solar panels and electric vehicles within a single decade.

The report from the Imperial College London and think-tank Carbon Tracker Initiative suggests that energy companies are seriously underestimating the impact of electric vehicles and solar panels. Such technology could be so disruptive that, by 2020, the global demand for coal and oil could peak and start to decline.

The report, called ‘Expect the unexpected: The disruptive power of low-carbon technology’, warns that fossil fuels may lose 10 per cent of market share to solar panels and electric vehicles within a single decade. In the past, a similar 10 per cent loss of power market share caused the collapse of the US coal mining industry.

Similarly, Europe's five major utilities lost more than €100 billion in value from 2008 to 2013 because they were unprepared for an 8 per cent growth in renewable power, of which solar panels played a big part.
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- See more at: http://renewablenow.biz/energizing-transit.html#sthash.T7R65vuh.dpuf

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