Renewables Cheaper Than Fossil Fuels - Why is Use Still Growing?

Despite the rapid growth of renewable energy, such as wind and solar, fossil fuel use is still growing, especially in Asia. This is because global electricity demand is increasing, and renewable energy is not yet able to fully replace fossil fuels. However, there are signs that this is changing, with the cost of renewable energy falling and new technologies making it easier to store energy from renewable sources, writes Malte Jansen for The Conversation Africa.

Coal and gas power generation is still the backbone of global energy systems and these fuels are likely to remain dominant for decades to come. Nonetheless, the phase-out of coal (arguably the dirtiest of fossil fuels) is gaining momentum.

Western economies have made progress in replacing fossil fuels (and coal in particular) with renewables during the last decade. In Europe and North America, wind has become a vital energy source during the winter months when energy demand peaks. And when the wind isn't blowing, gas generation fills the gaps. Solar energy, when combined with batteries that can store excess electricity, is also proving to be a cheaper option than both gas and coal in certain parts of the world.

With new wind and solar now cheaper than existing fossil fuel generation, it is only a matter of time before they fully replace all new energy demand first, and replace existing fossil fuels after - even in fast-growing economies. However, as a UN report shows, this process needs to be significantly sped up to avert catastrophic warming.