Throughout the 20th century, fossil fuels generated electricity and powered transportation vessels at a lower cost per unit of energy than renewables. However, in recent years, the convergence of technology advances and market demand for clean energy have reached an inflection point in the low-carbon transition and renewable sources of electricity, such as solar and wind, can now, in many settings, generate power at lower cost than conventional sources of energy. As a result, the majority of new installed global electricity generation capacity has been and is projected to be renewable, presenting exciting opportunities for existing as well as new businesses.
