The results of the study also show that since 2015, renewable energy in almost half of the participating G20 countries has been a lot less expensive or equal in price to electricity from nuclear plants and dirty coal.
Tobias Austrup, Greenpeace Germany expert, said there should be “no more excuses” when it comes to protecting the climate. “Any G20 country that is still investing in coal and nuclear power plants is wasting their money on technology that will not be competitive in the coming years. The G20 now has a responsibility to send a clear signal that accelerating the clean energy transition is not only the right thing to do for the climate, but also for the economy.”
The study, which was conducted by the Finnish Lappeenranta University of Technology, estimated the electricity generation costs in the participating G20 countries from 2015 up to 2030.
It concluded that in 2015, wind farms have already produced the least expensive type of energy in Australia, China, Europe, South America, and the United States. Solar energy will even be cheaper than wind power in the majority of the G20 countries by 2030 because of prompt technical progress and diminishing price.
Statistics provided by the United Nations show that in 2016, approximately 55 percent of the additional electricity capacities were based on renewable energy.
However, United States President Donald Trump is erroneously pushing for coal and nuclear power.
Austrup commented, “Trump’s energy policy is simply a bad deal. The U.S. Has excellent conditions for expanding its wind and solar energy capabilities and states like California, Texas, or Iowa will not miss this chance.”
United States is one of the countries that form G20, an international forum that includes the largest advanced and emerging economies in the world.
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