Fossil fuels are holding on, but end of their reign is nigh, says a new report from Bloomberg New Energy Finance, which predicts that wind and solar will be cheaper than coal and gas generators by 2027, and electric vehicles could make up 25 percent of the global car fleet by 2040.
The peak year for coal, gas, and oil looks to be 2025, and then it’s all downhill from there. For big oil guys, at least. “You can’t fight the future,” says lead researcher, Seb Henbest. “The economics are increasingly locked in.” Source: This is the end of the fossil fuel age as we know it, says report