Fact Check: Renewable Energy Is Cheaper Than Fossil Fuels, We Can Live Without Oil

Our constant dependence on fossil fuels has led to the most severe effects of global warming, with 2010-2019 being the hottest decade ever recorded. But the damage doesn’t stop with the environment—fossil fuels also affect human health, homes, communities, and even basic human rights.

Climate change is worsening inequalities across the globe, causing droughts, floods, and other disasters that force entire communities to leave their homes. By 2050, it’s estimated that 150 to 200 million people could be displaced due to climate-related disasters.

The only solution is to transition the world away from fossil fuels and towards renewable energy. To explore how this change can happen, we gathered stories from lawyers, activists, and campaigners dedicated to this mission. Their work may vary, but they all share a common vision: a future where clean, fair, and sustainable energy is accessible to everyone.

In this backdrop, a text has been circulated on social media that “we cannot live without oil”.

You can find the archive links to the claim here and here.

Fact Check:

The claim is false. We can live without oil. Solar and other renewable energy sources are now more affordable than fossil fuels.

During the investigating we found an article published in the Irena.com. In the article, Irena mentioned renewable energy sources such as solar and wind, have become more affordable than fossil fuels. A 2022 report by the International Renewable Energy Agency (IRENA) indicates that 86% of newly commissioned renewable capacity had lower costs than fossil fuel-fired electricity.

While publishing an article related to renewable energy, energymonitor.com mentioned that the idea -- renewable energy cannot replace oil is a misunderstanding. Renewable sources such as solar and wind are now more capable than ever of fulfilling global energy needs. Advances in technology have significantly lowered costs, making renewables more affordable than fossil fuels. For example, data from 2021 shows that nearly two-thirds of new renewable energy installations were cheaper than the most cost-effective coal-fired options. Furthermore, renewables enhance energy security and promote environmental sustainability, disproving the outdated belief that oil is essential.

So as per the above article we concluded that the declining costs of solar and other renewable energy sources mark a pivotal shift in the global energy landscape. As they become more affordable than fossil fuels, renewables offer a practical and sustainable solution to meet the world's energy demands. This transition not only supports economic growth but also addresses pressing environmental challenges by reducing greenhouse gas emissions. Embracing renewable energy is no longer just an environmental imperative; it is also an economic advantage, paving the way for a cleaner, more equitable, and sustainable future.

Hence, we found the claim is false. Solar and other renewable energy sources are now more affordable than fossil fuels.

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