Study Shows Decrease in Renewable Energy Costs May Drive Clean Energy Growth
In a study led by Stony Brook University and Lawrence Berkeley National Laboratory revealed that costs are projected to decline, based off findings in renewable energy in China.
According to an article from Stony Brook, the findings, “may serve as a model for the United States and worldwide illustrating that decreases in renewable costs may help drive clean energy growth.”
“The modeling showed four scenarios for China’s power sector up to 2030, the business-as-usual approach, low-cost renewable use, carbon constraints and deep carbon constraints. Their findings with the models revealed that if cost trends continue, 62 percent of China’s electricity would come from non-fossil sources by 2030 at a cost that is 11 percent lower than achieved through a business-as-usual approach,” read the article.
The findings could serve as a model for the United States.