Renewable energy becomes cheaper than oil and natural gas


In 30 countries renewable energy has become much cheaper that oil and gas.

The latest report of the World Economic Forum (WEF) says that renewable energy has become much cheaper, or at least not more expensive than fossil fuels in more than 30 countries. Among them Brazil, Chile, Australia, Mexico.

Deutsche Bank analysts predict that in the next few years their number will increase to 80% of all countries of the world.

“Renewable energy has reached a tipping point. It is not only commercially viable, but also an attractive investment opportunity for the long-term, stable, inflation-protected income,” said Senior Director and Head of Investor Industries at the World Economic Forum, Michael Drexler.

In 2015, at the UN conference on climate change in Paris, it was decided that by 2030 renewable energy sources require investments of $1 trillion annually.