Bloomberg report: Coal and gas stay cheap, but renewables still win race on costs

By Michelle Froese Low prices for coal and gas are likely to persist, but will fail to prevent a fundamental transformation of the world electricity system over coming decades towards renewable sources such as wind and solar, and towards balancing options such as batteries.
The latest long-term forecast from Bloomberg New Energy Finance, entitled New Energy Outlook 2016, charts a significantly lower track for global coal, gas and oil prices than did the equivalent projection a year ago. Crucially, however, it also shows a steeper decline for wind and solar costs.
Annual electricity output by the major generating technologies, 2016-40, thousand TWh. (Source: Bloomberg New

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