Falling green energy costs 'to stop' fossil fuel growth

Falling costs of renewable energy technologies could lead to a halt in the growth of global demand for environmentally harmful fossil fuels, according to a new report.
Released on Thursday, the report - co-authored by the Grantham Institute at Imperial College London and the UK-based think-tank Carbon Tracker Initiative, showed that cheaper electric vehicles and solar technology, and their increasing use globally, could stop growth in demand for oil and coal by 2020.
The study said that growth in electric vehicles (EVs) alone could lead to two million barrels of oil per day (mbd) being displaced by 2025, which is the same volume that caused the oil price collapse in 2014-15.
"This scenario sees 16 mbd of oil demand displaced by 2040 and 25 mbd by 2050, in contrast to the continuous growth in oil demand expected by industry," it added.
source: http://www.aljazeera.com