Falling costs for renewable energy may lead some to believe that coal and other mainstays have been replaced, but they haven't. Adoption of renewables is not yet outpacing growth in demand for energy.
It's cheaper than ever to get energy from renewable sources and their use around the globe is trending upward. Still, they've yet to displace coal, and natural gas. While renewable use is growing so is worldwide energy consumption, so new power from solar and wind is not replacing other sources. "Since 1800 biomass consumption has increased by about 275%, and coal use by more than 60% just since 2000. Rapidly falling costs and growing investments have helped boost wind and solar power, but these energy sources — like nuclear, oil, and gas before them — are building on top of old ones, rather than replacing them.," Richard Newell reports for Axios.
Many hope the continued growth of renewables will eventually lead to their replacement, but the short-term outlook for that is not good. "New investments in fossil fuels continue to more than double those in renewables," Newell reports.
FULL STORY: Despite renewables growth, there has never been an energy transition
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