Wind and solar — two forms of clean energy segment — are crushing fossil fuels, according to a Bloomberg report.
Clean energy investment broke new records in 2015 and is now seeing twice as much global funding as fossil fuels.
READ the full Bloomberg on Clean energy investment
The cost of solar power has fallen to 1/150th of its level in the 1970s, while the total amount of installed solar has soared 115,000-fold.
Just since 2000, the amount of global electricity produced by solar power has doubled seven times over. Even wind power, which was already established, doubled four times over the same period.
Since 2000, the International Energy Agency has raised its long-term solar forecast 14 times and its wind forecast five times. Every time global wind power doubles, there’s a 19 percent drop in cost, according to BNEF, and every time solar power doubles, costs fall 24 percent.