27 Jan '12, 5pm

Renewables nearly competitive with fossil fuels, even without subsidies:

In 2010, investors and governments poured $187 billion into renewables and just $157 billion into natural gas, oil and coal. A big chunk of the renewables investment ($66 billion in subsidies) represents forward-thinking governments nurturing their domestic renewable energy sectors through incentives. But renewables will soon be kicking fossil fuels’ asses even without that support, reports Bloomberg . “Wind in some cases already is, or can in coming years, be fully cost-competitive with fossil fuels,” [said Peter Brun of wind turbine maker Vestas]. “Fossil-fuel prices will continue to rise, and that increases the competitiveness of new technologies. We are preparing the whole industry for getting off the subsidy-need.” Of course, a lot of this is going on in Europe, where fossil fuels are more expensive. Renewables in the U.S. aren’t ready to stand on their own without su...

Full article: http://grist.org/list/renewables-nearly-competitive-with-...

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