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(Mark Hulbert, an author and longtime investment columnist, is the founder of the Hulbert Financial Digest; his Hulbert Ratings audits investment newsletter returns.)
CHAPEL HILL, N.C. (Callaway Climate Insights) — There’s one urgent question that, perhaps more than any other, encapsulates the failures of climate finance over the past decade: Why, if it’s cheaper to produce electricity from renewable sources, are utilities still investing in new fossil fuel projects?
It’s been a decade since the cost of producing electricity from solar and wind became lower than from fossil fuels. Yet the number of new coal plants worldwide grew by 44% just last year alone, when measured by megawatts of production capacity.