2012: A Breakthrough For Renewable Energy?

Submitted by Manish Bapna on February 9, 2012

2012 could indeed see global investment surpass that for fossil fuels, crossing an important threshold toward a clean energy future. Photo credit: flickr/OregonDOT

This piece originally appeared on The Huffington Post.

In his annual State of the Union address, President Obama declared: “I will not walk away from clean energy.”

His words were a sharp rebuttal to critics harping on the Solyndra bankruptcy and others making dire predictions about the downfall of the renewable energy industry.

So, who is right? Will 2012 be a breakthrough year for renewable, or will it collapse?

Despite conventional wisdom, there is a growing body of evidence showing that renewables are no longer decades away from being a viable and affordable alternative to fossil fuels. Instead, onshore wind and solar photovoltaics are close to a tipping point to compete head-to-head with coal and natural gas in many countries.