As a group of technologies, more demand for renewables means lower prices and higher quality constantly evolving for a long time to come. The resources they compete with – coal, oil and gas – follow a different pattern. If demand kept increasing, prices would go up because the newer reserves cost more to develop, such as deep sea oil. They may get cheaper through market shifts, as they have done recently, but they can’t keep getting cheaper and they can never get any better.

In that context, consider this. Renewables are, today, on the verge of being price competitive with fossil fuels – and already are in many situations. So in 10 years, maybe just five, it is a no-brainer that renewables will be significantly cheaper than fossil fuels in most places and will then just keep getting cheaper. And better.

Paul Gilding: Fossil Fuels are dead, the rest is just detail (ReNew Economy)

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