With the current low prices of oil – they are now around $50 – one could think that solar, wind and the likes wouldn’t be this interesting as an alternative. Luckily, it isn’t the case at all. Let’s see why.
Bloomberg can not be described as some ” green ” enthusiast but more as a savvy business insider source. They outlined no less than seven reasons why cheap oil won’t stop renewables :
1. The Sun Doesn’t Compete With Oil
2. Electricity Prices Are Still Going Up
3. Solar Prices Are Still Going Down
4. Sales of Plug-Ins Are Doing Just Fine, Actually
5. Pump Prices Haven’t Dropped as Much as Oil Prices
6. Oil Prices Won’t Stay This Low Forever
7. Global Investment in Clean Energy Keeps Flowing
To which, Treehugger published more reasons for this :
8. Falling energy demand
9. Better products
10. A growing lobby
11. Energy storage, energy storage, energy storage
12. Solar benefits directly from cheap oil
Please have a look at both articles for the explanations of each piece of information. Some of them have been talked about here, some are quite new. In any case, don’t worry, oil prices may stay a bit at such low prices, it won’t matter, the cleantech revolution has started and nothing will stop it now.
Image credits : flickr.