2019 is just around the corner, and across the globe observations and statistics indicate that clean, renewable energy production is growing faster than fossil fuels, and multiple studies predict that this trend will continue to grow. Renewable energy investments grew to $297 billion in 2016 (the last time full-year data was collected), while only $143 billion was spent on fossil fuels and nuclear power.
Developing nations are now forging ahead of the wealthiest countries (and previous leaders in renewable energy) by practicing the use of producing energy through environmentally friendly methods, like wind and solar, more than traditional, harmful methods.
Because many developing countries are plentiful in natural resources and equipment costs are relatively low, clean energy has been shown to be financially beneficial for less wealthy countries allowing them to dominate in clean energy production. In fact, research shows that, in many cases, due to the sharp decline in prices of solar technology in recent years, the same amount of energy produced from fossil fuels can be produced by solar panel systems at half the cost of coal.
2018 has been a banner year for renewable energy. The rapid progression of investment in clean, reliable, eco-friendly renewables continues at record-breaking levels, and all indicators point to strong and steady growth in renewable energy into the foreseeable future. More than ever, global awareness that renewable energy is the only viable answer to the world’s growing energy demands, and hope for the future grows apace.
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