US EditionUn Rings the End of Oil: Renewables Become More Profitable
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On the occasion of a solemn speech, UN Secretary-General António Guterres endorsed on 22 July a tectonic change in contemporary energy history. For the first time, investments in renewable energy are not only more profitable than those in oil, but they also announce, according to the UN, the end of a cycle. A declaration that is shaking industrial models established for more than a century.
The latest report by IRENA (International Renewable Energy Agency) leaves no room for doubt. By 2024, 91% of new renewable energy projects had a lower cost than fossil equivalents. PV solar is now 41% cheaper than the most competitive fossil alternative on the market. As for terrestrial wind energy, its costs are divided by two. "There is no price spike for sunlight, no embargo on wind," ironed António Guterres in a statement relayed by The Guar…
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