Economics
The World Nears Peak Fossil Fuels for Electricity
Coal and gas will begin their terminal decline in less than a decade, according to a new BNEF analysis.
Power Struggle: How the Energy Market Could Shift in 2016
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The way we get electricity is about to change dramatically, as the era of ever-expanding demand for fossil fuels comes to an end—in less than a decade. That's according to a new forecast by Bloomberg New Energy Finance that plots out global power markets for the next 25 years.
Call it peak fossil fuels, a turnabout that's happening not because we're running out of coal and gas, but because we're finding cheaper alternatives. Demand is peaking ahead of schedule because electric cars and affordable battery storage for renewable power are arriving faster than expected, as are changes in China's energy mix.