2) The headlines come from 2 different reports: First, a report by IRENA highlighted how new renewables are now cheaper than fossil fuels in most of the world. Then, Ember published a report warning that governments aren’t ramping up their targets fast enough to meet global pledges.
3) So, do these reports contradict eachother? Not really. In some ways they are complimentary! The IRENA report notes how renewables are now cheaper than fossil fuels in most of the world. The Ember report notes how governments still aren’t planning to build enough of them...
4) This quote by the Director General of IRENA after the first report connects the two: He notes that despite a relatively positive economic context for renewables growth, the political context could make the picture less rosy in reality. And that's where the Ember report comes in.
5) So, final takeaway? We ARE at a renewables cost tipping point. They’re cheaper, faster to deploy, and they're doing relatively well. But... they should be doing better! Governments aren’t moving fast enough, and we risk (somewhat) squandering the opportunity the market is handing us. /fin
Humanity's biggest leap: The transition from a Kardashev Type I Civilization based on fossil fuels and conflict ('us versus them' is the norm) to a Kardashev Type II Civilization based on renewable energy and cooperation ('we are all in this together' is the norm).
Isn’t it also related to phase-in of renewables having two phases: 1. Displace fossil powered generation 2. Cater for increasing demand from electrifying transport, heat, industry, … First part is only a producer cost issue. Second part has a lot of end-user investment and friction issues.
This is why I had hoped we would have heard more in Canada about building out renewables as one of the national projects.