SOURCE: Axios
DATE: August 17, 2018
SNIP: Since 2010, the costs of producing electricity from solar photovoltaic systems have decreased by more than 80%. Wind and solar now vie with natural gas to provide new electricity generating capacity. To some, these trends signal the world’s latest energy transition: away from fossil fuels and toward a renewable future.
The big picture: These historical changes in the energy system, however, have been a matter of addition, not transition. Although the percentage shares of biomass, coal and oil in our energy supply have fallen with the rise of alternatives, their total use continues to grow. The world has never experienced an energy transition.
See also: Decarbonization: It Ain’t That Easy at Resources for the Future.