If there is an energy transition away from fossil fuels under way, it has so far moved painfully slowly.
The share of renewables and nuclear power in the world’s energy mix rose to a new high of 13.7 per cent last year, according to the latest BP Statistical Review of World Energy. That might sound encouraging, until you consider that it was 13.1 per cent in 1995.
The projection from the International Energy Agency that by 2030 renewable energy could become the world’s largest source of electricity is a sign of its potential, but the slow pace of the shift away from fossil fuels is evidence of their compelling advantages in terms of cost and convenience.
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