After Shale Revolution, Russia Threatened by Alternative Energy
2017 November 10 ( Thursday ) 10:29:12
Baku/10.11.17/ Turan: Russian officials consider renewable energy to be expensive and uncompetitive in comparison with hydrocarbons. And this error can cost Russia as much as ignoring the slate revolution, the Russian newspaper Nezavisimaya Gazeta writes.
The rapid progress of alternative energy has already made wind and solar power stations competitive. In 30 countries of the world, clean energy already costs less than energy from fossil sources, according to a report of the World Economic Forum (WEF).
In the short term, alternative energy will become more profitable for most countries, which will result in a new drop in world oil prices.
Wind energy without government subsidies has become the cheapest type of electricity for production in Germany and the UK in October 2015, where it accounted for 11.4 and 7.7% of the generation, respectively, Bloomberg New Energy Finance notes. In the US, wind energy became the cheapest in November 2014. -0