The history of power production through the early part of the 21st century was very much a tale of nonrenewable energy resources. Power was produced primarily by coal, natural gas, and nuclear energy at large power plants at central locations and distributed to customers via the electrical grid. But a revolution is underway in the world’s power markets. The Rise of Renewables The world’s energy mix has evolved substantially over the past 20 years. Since 1997, global cumulative installed solar photovoltaic (PV) and wind power have climbed from less than 8 GW to nearly 800 GW, according to the BP Statistical Review of World Energy. According to the International Energy Agency (IEA), renewables were responsible for almost 165 GW of new global power capacity in 2016—nearly two-thirds of the global total. The U.S. has been a leader in this transition. According to the Federal Energy Regulatory Commission’s (FERC) “ […]