While the current President is threatening to slap tariffs on friend and foe alike, and crafting a bail out plan for the coal and nuclear industry at the expense of now cheaper renewables, Staten Solar believes it may be helpful to point out the following:
Over the last year, France, the UK, China, Ireland, Scotland, Israel and Costa Rica announced plans to ban the sale of fossil fuels powered vehicles by 2040. India and Germany aim for 2050. More than 20 countries led by the UK, Canada, Finland and Denmark have committed to phase out coal plants and established a moratorium on any new coal stations unless they are equipped with carbon capture and storage (thus increasing the relative cost versus renewables). i.e. the Paris agreement is working.
A just released report by the International Renewable Energy Agency, IRENA, shows that corporations across 75 separate countries sourced 465 terawatt hours worth of renewables in 2017. Of the 2,400
corporations involved in the study, more than 200 source at least 50% of their energy from renewables.
The same report highlights three main drivers behind the corporate renewables transition:environmental and sustainability concerns; social responsibility and reputation management; and
economic and financial objectives.And officials at the G7 meeting in Toronto later this week will be receiving a letter signed by 288 international investment groups —including Allianz Global Investors, Aviva Investors, DWS, HSBC Global Asset Management, Nomura Asset Management, Australian Super, HESTA, and some several U.S. pension funds including CalPERS–to eliminate coal-fired generating stations within their borders and ramp up actions designed to cut carbon emissions more aggressively.
Meanwhile, back home, California just approved a $738 million transportation electrification initiative funding the big three utilities to build charging stations throughout the state, and in some jurisdictions, 60,000 home chargers. The National Resources Defense Fund (NRDC) issued a statement emphasizing, “this marks the nation’s single largest investment by the electric industry to eat away at Big Oil’s long time monopoly over transportation fuels…. This spreads the costs of maintaining the grid over more sales, putting downward pressure on electric rates to the benefit of all utility customers.”
The transition out of fossil fueled economies and into renewable economies marches on.
To add your company to the movement, please call 408-780-2889 to speak with a Staten Sales Executive.
