The staggering drop in the cost of clean energy has already upended the global power market over the past two decades — and that trend will only continue for the next two decades, according to new analysis from Bloomberg New Energy Finance (BNEF). As a result, renewables will capture the lion’s share of the $10.2 trillion the world will invest in new power generation by 2040, BNEF projects in its annual New Energy Outlook 2017 report. CREDIT: BNEF New Energy Outlook 2017 Despite years of plummeting prices for renewables, BNEF projects that over the next two decades, the cost of solar power will still drop another two-thirds, onshore wind costs will be cut nearly in half, and offshore wind costs will drop a stunning 71 percent. Here’s how this will profoundly transform power markets in the years ahead: By 2028, solar will beat existing gas generation. Solar and wind […]