GREEN ENERGY VS FOSSIL FUELS

 Standing at the crossroads of climate action and ecological preservation, the world is increasingly adopting green technologies and renewable energy systems. This pivotal transition from fossil fuel-centric economies to sustainable alternatives ushers in an era of potential economic rewards coupled with environmental regeneration


The Lazard Levelized Cost of Energy Analysis (LCOE 16.0) leverages recent data to uncover a consistent decrease in renewable energy costs, while fossil fuel costs remain unstable. Lazard is a global financial advisory and asset management firm headquartered in New York City, with a history dating back to 1848.

 This potent trend of affordable green technologies is amplified by steady price reductions, with solar power costs plummeting by an astonishing 85% over the last decade, followed by onshore and offshore wind energy costs experiencing cuts of 56% and 48%, respectively. Challenges like raw material costs (e.g., lithium, copper) or grid integration could temper the pace, but the consensus is that renewables’ cost competitiveness will grow, cementing their dominance absent major disruptions.

Moreover, the International Renewable Energy Agency (IRENA) forecasts that onshore wind and solar power will be more economically viable than new fossil fuel alternatives in over 80% of cases. The erratic, fluctuating prices of fossil fuel, along with their hidden societal costs including environmental degradation and health risks, further accentuate the superiority of renewable energies.

A widely cited report from Oxford University’s Institute for New Economic Thinking (2021) estimated that a rapid green energy transition could save the global economy upwards of $12 trillion by 2050 compared to a fossil fuel-dependent path, factoring in lower operational costs of renewables and avoided externalities like health costs from pollution

IRENA’s Scenario projects that renewables could supply 91% of global electricity generation by 2050 Countries like the United States and Canada further illustrate the economic prowess of renewable energy projects. While Canadian figures lack precision, validated accounts point towards a substantial impact, with the clean energy sector employing up to 250,000 Canadians.

The green technology revolution - from electric vehicles to renewable energy systems - depends heavily on critical minerals and precious metals, with Canada possessing some of the world's largest deposits of these essential resources.

With global demand projected to surge dramatically (some minerals by up to 500% by 2050), Canada's vast reserves and advanced mining capabilities make it indispensable to worldwide green technology adoption

Investors eyeing substantial returns should note Canada's mining sector including Junior Mining, where rich mineral deposits and advanced extraction facilities coincide with supportive regulations.

As global green technology demands surge, Canadian mining stocks appear positioned for significant value appreciation, backed by the country's critical role in supplying essential critical minerals and precious metals.

“For information purposes only”


Mining news: www.minestockers.com

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