Europe & China ‘leading’ on renewables, U.S. must catch up

CGTN Europe

Donald Trump has pulled the U.S. out of the Paris Agreement but leading renewables CEO Marco Alvera says the new President’s view could change when he sees that he can ‘export the U.S. Sun.’ Alveraa was speaking to CGTN in Davos.  #wef25 #worldeconomicforum #unhcr

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00:00I think Europe started by leading this.

00:0320 years ago, Europe put 1,000 billion euros of subsidies

00:07and the price of solar went from $1,000 a megawatt hour

00:10all the way down to $10 a megawatt hour.

00:12In that same period of time, the price of oil went from 20 to 50.

00:15So where it's very sunny, solar is just much cheaper.

00:19That is why Saudi Arabia is one of the biggest investors in the world of solar

00:23because the more solar they produce, the more oil they save, the more oil they can export.

00:27That's why Texas is one of the biggest states for wind

00:30because it's cheaper than fossil energy.

00:32That's why China is investing a lot in renewables

00:34because it reduces dependency, it reduces domestic.

00:37So for even the Trump administration, when they see that they can export the U.S. sun,

00:42which is what we're essentially doing, and the U.S. wind,

00:44that helps a balance of payments, that helps trade,

00:46and that helps free up gas that can also be sold and exported.

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