Is renewable energy ready to disrupt fossil fuels?
Prices of fossil fuels may be plumbing multi-year lows, but that’s not likely to keep them from being displaced by the advance of renewable energy, especially solar, analysts said.
“Renewable energy technologies are far further advanced than many may believe: solar photovoltaic (PV) and on-shore wind have a track record of successful deployment, and costs have fallen dramatically in the past few years,” Alex Thursby, chief executive of the National Bank of Abu Dhabi (NBAD), said in a report published this month. “In many parts of the world, indeed, they are now competitive with hydrocarbon energy sources.”
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