The Clean Energy Revolution Is Unstoppable
By Eric Beinhocker and J. Doyne Farmer , The Wallstreet Journal. Excerpt: Since Donald Trump’s election, clean energy stocks have plummeted, major banks have pulled out of a U.N.-sponsored “net zero” climate alliance, and BP announced it is spinning off its offshore wind business to refocus on oil and gas. Markets and companies seem to be betting that Trump’s promises to stop or reverse the clean energy transition and “drill, baby, drill” will be successful. ...But this bet is wrong. The clean energy revolution is being driven by fundamental technological and economic forces that are too strong to stop. ...Our research shows that once new technologies become established their patterns in terms of cost are surprisingly predictable. ... Since 1990, the cost of wind power has dropped by about 4% a year, solar energy by 12% a year and lithium-ion batteries by about 12% a year.... Full article at https://www.wsj.com/business/energy-oil/thecleanenergyrevolution-is-unst...