Why Fossil Fuels Are Having Such A Hard Time Competing With Renewables - CleanTechnica

The article from CleanTechnica outlines three key reasons why fossil fuels are struggling to compete with renewable energy sources. First, the extraction of fossil fuels is becoming increasingly difficult and costly as the easiest reserves have been depleted. New fossil fuel projects require advanced technology and higher investment to access challenging locations like deep offshore sites and the Arctic, driving up breakeven prices. Additionally, geopolitical uncertainties and inflation further increase costs, making fossil fuels less economically attractive. Second, the article highlights Wright’s Law, which explains why renewable energy technologies like wind, solar, and batteries see rapid cost declines as production scales up. Unlike fossil fuel production, which grows slowly, renewables benefit from faster cumulative production increases, leading to more significant price reductions over time. This dynamic gives renewables a competitive edge as their costs continue to fall more quickly than those of fossil fuels. Finally, public opposition to fossil fuels due to their environmental and health impacts creates strong political headwinds against their use. Growing awareness of pollution and climate change has