BNEF chairman Michael Liebreich also told investors this week that “[r]enewables are robustly entering the era of undercutting” fossil fuel prices.

Unsurprisingly, developing countries are at the forefront of this advancement, having invested in clean energy economies to stave off the catastrophic effects of climate change at a greater rate than wealthy nations.

“[F]or populations still relying on expensive kerosene generators, or who have no electricity at all, and for those living in the dangerous smog of thickly populated cities,” Bloomberg reports, “the shift to renewables and increasingly to solar can’t come soon enough.”

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