McKinsey Global Institute predicts that by 2035 energy production of solar and wind power will dominate 35% of the world’s consumable energy. The estimated tipping point is for 2035, when fossil fuel energy such as coal and gas will be exceeded by natural energies. It’ll show the public that renewable energy is a plausible mainstream solution and will ideally power the world in the future. Some main factors that contribute to this movement include the continuously declining cost of solar energy, that settles between 2-4 cents per kilowatt hours around various places in the world, with America being the priciest. Furthermore, the highest growing job category within the United States has been Service Engineers for wind turbines, reflecting a future of increased potential jobs in the natural energy industry. Finally China, one of the largest fossil fuel contributors, committed to closing 85 coal plants and investing in $350 billion worth of renewable energy. As environmental regulations have been mainly pushed by governments so far, it has come to a point where the exposure and efficiency of solar and wind energy can compete with fossil fuels in certain parts of America and the world. Therefore, regardless of the shift in government, there will still be a growing market for renewable energy as statistics have shown them to be less reliant on government incentive programs.
Zicong Will Wang