Cutbacks to high polluting fossil fuel industries comes amid development of renewable energy solutions

by Milos Bezanov

Energiewende, the policy launched in 2010 designed to increase renewable energy market share and reduce carbon emissions 40% below 1990 levels has been unsuccessful so far, according to a recent report.
There have been rising carbon emissions in 2015 in Germany and Australia, closing two if its power stations at its Alina generator. Also AGL, one of Australia’s biggest power stations, forecasts that the solar market could be worth as much as $2billion by 2030.
New installations are proof of this, ” The fact that we had 147Gw of capacity, mainly of wind and solar is a clear indication that these technologies are cost competitive (with fossil fuels)” explained Christine Lins, executive secretary of REN21
China, Japan, UK and U.S are countries adding the most green power. Investment in renewables reached $286 billion worldwide in 2015, with 173 nations having renewable energy targets in place.
New Prices?
Recent information indicates, that, while fossil fuel prices have fallen, so have the costs of renewable energy, ” The market revenue for fossil fuels [in the NEM] has declined by more than half since 2007″ according to Bloomberg.
Australian power company AGL are planning a longer term transition away from coal, tapping into the “solar plus storage” household market and plans to sell a lithium ion battery capable of storing 6 kilowatt hours of solar energy.
“The growth is organic, unlike the large scale renewable generation sector which is driven by policy and without subsidies is not economically viable at the moment” said Hugh Bromley, Bloomberg research analyst.