By Juan Cole / Informed Comment

Bloomberg released a new report [last] week with some startling findings about solar energy. To wit:

* Solar energy can now be generated for about half the cost of coal. Coal had been the cheapest energy source, but it has now been overtaken by solar. That means it is crazy to build new coal plants– you’d be costing yourself money.

* Solar this year suddenly became cheaper than wind! This development had not been expected for another 5 years, but it came early.

* Likely there will be more solar installed this year than wind– a first! Bloomberg says, “The latest BNEF [Bloomberg News Energy Finance] projections call for 70 gigawatts of newly installed solar in 2016 compared with 59 gigawatts of wind.”

* The world is now building more energy capacity annually in the form of solar facilities and wind farms than via coal and natural gas combined.

*Some time in the next 10 years, the world’s use of fossil fuels will peak and then begin its decline.

* In the 3rd quarter of 2016, solar installations in the US were up nearly 200% over the 3rd quarter of 2015!

Your support is crucial...

As we navigate an uncertain 2025, with a new administration questioning press freedoms, the risks are clear: our ability to report freely is under threat.

Your tax-deductible donation enables us to dig deeper, delivering fearless investigative reporting and analysis that exposes the reality behind the headlines — without compromise.

Now is the time to take action. Stand with our courageous journalists. Donate today to protect a free press, uphold democracy and uncover the stories that need to be told.

SUPPORT TRUTHDIG