The energy technology revolution • Renewable costs are falling on learning curves • Renewable sales are growing exponentially • Capital is shifting to renewables • Fossil fuel demand has already peaked • Most incumbent modelers have missed the transition so far.  Exponential energy change is all around us....Wind Solar EV's and Batteries.  Change is happening across the world.  Adoption of superior technology is not confined to the Global North.  Price falls have unlocked superior renewable solutions.  Renewables are local, cheap, and clean. They provide more local jobs and enable a circular economy.  Capital is shifting into renewables.  Capital flows are therefore flooding into clean energy solutions. In 2023 they will be over 60% of the total. • While capital flows into the fossil fuel system are stagnant, and mainly directed at maintenance. • Half of fossil fuel cash flows are now being repaid, suggesting the sector is approaching rundown. • Nearly 90% of capital flows in the electricity sector in 2023 will be into renewables. • The solar industry is investing over $1B a day and has overtaken oil caps.  Many fossil fuel demand peaks are clearly behind us.  Global fossil fuel demand has peaked around 500 EJ.  The growth of these new energy technologies has been fast enough to mean that we already hit a peak in fossil fuel demand in 2019. • Fossil fuel demand is now bouncing along a plateau; with a couple of small bumps. • The chart illustrates fossil fuel demand forecasts from BNEF in their two core scenarios — in neither case does fossil fuel demand break out of the plateau. • We see a similar framing by the IEA, Rystad, BP, Shell, and McKinsey. At heart this is simple math: Any fast-growing new technology will drive peak incumbent demand early in a transition. • The plateau will end around 2025. And then fossil fuel demand will go into terminal decline......an excellent article and great graphics!      https://rmi.org/wp-content/uploads/dlm_uploads/2023/06/rmi_renewable_revolution.pdf