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Bitcoin Could End Up Using More Power Than Electric Cars

The global power needed to create cryptocurrencies this year could rival the entire electricity consumption of Argentina and be a growth driver for renewable energy producers from the U.S. to China. Miners of bitcoin and other cryptocurrencies could require up to 140 terawatt-hours of electricity in 2018, about 0.6 percent of the global total, Morgan Stanley analysts led by Nicholas Ashworth wrote in a note Wednesday. That’s more than expected power demand from electric vehicles in 2025. “If cryptocurrencies continue to appreciate we expect global mining power consumption to increase,”…

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Indian solar power prices hit record low, undercutting fossil fuels

Plummeting wholesale prices put the country on track to meet renewable energy targets set out in the Paris agreement Wholesale solar power prices have reached another record low in India, faster than analysts predicted and further undercutting the price of fossil fuel-generated power in the country. The tumbling price of solar energy also increases the likelihood that India will meet renewable energy targets it set at the Paris climate accords in December 2015. India is the worlds forecast to at least double as it seeks to develop its economy and…

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