A recently released Department of Energy study confirmed some startling news about renewable energy. Green energy costs and generation were analyzed and revealed that renewable power operations have developed rapidly over the past eight years, according to U.S. Energy Secretary Earnest Moniz.
The study concluded that the cost of five clean energy technologies — from wind and solar power to LED lighting — has declined between 40 percent and 94 percent, depending on the technology, since 2008.
The report also found solar and wind power accounted for two-thirds of new electricity capacity installed last year, producing enough electricity to power 19 million homes.
“The clean energy revolution is too often always assumed to be something that would come along in 10 to 20 years,” said Moniz.
The renewable energy sector has grown dramatically during President Obama’s term of office, a phenomenon he and his administration often highlight.
The study can be found here.