Headline News:

• “Forget Oil Stocks: Renewable Energy Stocks Are Better Long-Term Buys” • With the pandemic and the growth of renewables, the oil industry’s future has dimmed considerably over the past year. That’s why it might be time for investors to forget about buying oil stocks and instead concentrate their efforts on the renewable energy industry. [Nasdaq]

Pump jack (Zbynek Burival, Unsplash)

• “State Of New York To End Pension Fund Investments In Fossil Fuels” • Last week, New York State comptroller Thomas DiNapoli announced that the state would begin divesting its $226 billion employee pension fund from gas and oil companies if they don’t come up with business plans aligned goals of the Paris climate accord within four years. [CleanTechnica]
• “EV Battery Packs About 50% Cheaper Than In 2016” • It can be tough to analyze what is happening in the EV industry because we tend to be static thinkers. We see how things look today and it is hard for us to see how dramatically they can change. The story of EVs, however, is largely a story about how fast the costs of batteries can fall. [CleanTechnica]
• “Renewables Meet 46.3% Of Germany’s Power Consumption In 2020, Up 3.8 Points” • Renewable sources have met 46.3% of Germany’s power consumption in 2020, 3.8 percentage points more than in 2019, according to utility industry association BDEW. It said that parts of the increase came from a drop in usage in the coronavirus crisis. [Reuters]
• “Home Solar Power Blew Up In 2020” • “Global demand for home solar has gone ‘through the roof’ in 2020,” according to Bloomberg New Energy Finance. Despite the pandemic, the organization found that the rate of home solar PV installations was 21% higher in the first seven months of 2020 than in the first seven months of 2019. [CleanTechnica]

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