The demand for fossil fuels in the energy sector has already reached its peak, and by 2030 it is expected to decline sharply - by 16-30%. Solar and wind energy will probably make up a third of the world's generating capacity by that time. At the same time, the cost of generation will drop to 2 cents per kWh, a report published by the Rocky Mountain Institute (RMI) in partnership with the Bezos Earth Fund (Bezos Earth Fund, created by Amazon founder Jeff Bezos, who allocated $10 billion of personal funds to study global environmental problems and the Earth's environment). In the period from 2012 to 2022, the costs of solar and onshore wind energy decreased by 80% and 57%, respectively. In the first half of 2023, the present value of solar and wind energy was a little more than $0.04 per kWh, which is about half the cost of energy generated by coal or gas. At current prices, renewable energy sources are already the cheapest new sources of electricity that can be implemented in 82% of the world's territories, and this figure will continue to grow as the cost of renewable energy falls.

Source: Turan News Agency