The Oil Rally Is Helping Renewables

It may sound counterintuitive, but higher crude oil prices have proved to be a boon for the renewable energy industry, at least when it comes to adoption of clean energy solutions and products—notably electric cars. This year, thanks to the oil price rally, EVs, solar and wind power will continue to grow, according to the latest outlook from Bloomberg New Energy Finance. Falling costs of lithium-ion batteries will be the driver behind greater EV adoption, BNEF’s chief editor Angus McCrone notes in the report. Costs will be falling for…

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