Renewables to Provide More Energy Than Fracked Gas

Posted December 11, 2015 at 5:40am

Bloomberg: “New wind turbines and solar panels worldwide will provide more energy over the next five years than U.S. shale-oil production has over the past five, according to Goldman Sachs Group Inc.”

“The leading renewable-energy technologies will add the equivalent of 6.2 million barrels of oil a day to the global energy mix, exceeding the 5.7 million barrels a day pumped from U.S. shale oil wells since 2010 … Goldman Sachs said the biggest shift will occur over the next decade as demand for renewable energy, LED lighting and plug-in vehicles accelerates.”

“’Wind and solar are on track to exceed 100 gigawatts in new installations for the first time,’ the analysts wrote. Solar and wind energy are saving a gigaton of carbon dioxide emissions annually and the market for four leading low-carbon technologies is now worth more than $600 billion per year.”