So fast, in fact, that it would take only one-third of the solar and wind energy projects that have already been proposed to almost entirely phase out coal in the state, according to a new study by researchers at Houston’s Rice University.

According to Precedence Research, the global solar power market size is expected to be worth around US$ 368.63 billion by 2030 and growing at a CAGR of 7.2% from 2021 to 2030.

Ameren says it will help provide a large amount of clean energy to the city’s power grid.:

With many city-dwellers unable to install solar panels, start-ups offer them the opportunity to invest in solar power production elsewhere in return for green electricity credits.

Last year the Chinese government set an ambitious energy target, aiming for 40% of its grid’s power to come from non-fossil fuel sources by 2030. President Xi Jinping also said China will be carbon neutral by 2060. This week the country put its money where its mouth is, announcing the construction of 450 gigawatts (GW) of solar and wind power, all of which will be put up in the Gobi and other deserts.

Solar and wind energy last year grew at the fastest rate in U.S. history and now account for a record 13% of the nation’s power generation, according to a report released Thursday.

America’s biggest coal producer is taking the plunge on renewables by launching a joint venture in solar power.

The biggest name in coal is getting into renewable energy. St. Louis-based Peabody Energy – the world’s largest private-sector coal company – announced Tuesday that it has launched a “renewable energy development company” called R3 Renewables.