Something very important happened back in 2013 that is only being realized fully in the last year or so. What was it, you ask? That is when renewable energy sources overtook fossil fuels in new power capacity, and it has continued steadily since then. Some predict this trend will continue for at least the next 5 years, but others are predicting that the trend will continue indefinitely as global energy production moves towards green energy solutions over dirty fossil fuels that help drive climate change. While the balance of power had shifted only slightly back in 2013, edging out fossil fuel by just a few a couple of gigawats in new capacity, the gap has been on the rise since then, and it continues to widen, with several nations generating most or even all of their energy from renewable sources in the past year.
As this paradigm shift occurs, we are seeing the cost of renewable energy plummet compared to just a decade ago, putting it on par or even cheaper than grid power sources in many countries around the globe. The shift is helping to spur innovation that makes things like solar and wind easier to produce, and in many cases reduces the size and weight of the systems which results in better options for those living off grid as these advances move into the consumer market.