The economics of combining solar and other renewables with electric vehicles is becoming so compelling that the oil sector faces a “relentless and irreversible decline”, a new report from BNP Paribas has concluded.
The report, dubbed ‘Wells, wires and wheels’, examines the link between mobility, energy and capital investments, introducing the concept of ‘energy return on capital invested’ (EROCI).
- The price of solar electricity has dropped 89% in 10 years
- EIB approves €1 trillion green investment plan to become ‘climate bank’
- Why did renewables become so cheap so fast?
- LONGi remains sole AAA-Rated module supplier in Q4 2020 Bankability Ratings release
- Poland to tender 3.2 GW of solar by end of 2021