New Report by SolaVis: The Cost of the Fossile Energy System: Double Renewable
Summary
Zürich, Switzerland, January 27, 2014 --( A commonly repeated mantra is that renewable energy technologies are too expensive, or requires high investments.Due to rising extraction costs and (real or perceived) threat to consistent and sufficient supplies, market prices for fossil energy rose at high margins over the last 20 years.Due to the lack of a meaningful competition, fossil energy enjoys a monopolistic market position, i.e. we have to pay whatever the cost.It will cost us 1% of global GDP every year to maintain the status quo - for energy alone, before even start to consider the actual impacts of climate change and increasing extreme weather events.Due to rising extraction costs and (real or perceived) threat to consistent and sufficient supplies, market prices for fossil energy rose at high margins over the last 20 years.Due to the lack of a meaningful competition, fossil energy enjoys a monopolistic market position, i.e. we have to pay whatever the cost.