Green technologies are unlocking significant economic opportunities for a rapid transition to sustainable energy, according to Jean Baderschneider, former Vice President of ExxonMobil, speaking on the second day of Baku Climate Action Week (BCAW2025), as reported by Report.
Baderschneider stressed that addressing climate change is not only an environmental and ethical priority but also a critical economic opportunity. “Renewable energy sources have become remarkably affordable, now representing the most cost-effective energy option in nearly every region globally,” she said. “Green energy is now outperforming fossil fuels in direct market competition.”
She attributed this shift to a “fundamental economic revolution” over the past decade, noting that since 2010, the costs of solar panels, offshore wind turbines, and batteries have plummeted by 90%, 70%, and 89%, respectively. In contrast, construction costs for coal, gas, and traditional power plants remain substantially higher. “Over the last two years, solar panel and battery storage costs have halved, meaning every dollar invested now generates twice the energy output,” she added.
Baderschneider’s remarks highlight the increasing economic competitiveness of clean energy, positioning it as both a solution to climate challenges and a compelling opportunity for investment in the global energy market.
https://report.az/en/energy/jean-baderschneider-green-tech-offers-economic-boost-for-rapid-transition