Global economy would save up to $160 trillion by shifting to renewables, electric cars

“Every dollar spent on energy transition would pay off up to seven times.”


AERIAL VIEW OF BLOOMING RAPESEED FLOWERS NEXT TO A PHOTOVOLTAIC POWER STATION AT LIANGYUAN TOWN ON MARCH 29, 2019 IN HEFEI, ANHUI PROVINCE OF CHINA. (PHOTO BY WANG WEN/VCG VIA GETTY IMAGES)

Imagine a world where 85% of all electricity comes from renewable sources, there are over one billion electric vehicles on the road, and we are on track to preserve a livable climate for our children and future generations.

The International Renewable Energy Agency (IRENA) reported this week that such a future is not merely possible by 2050, but thanks to plummeting prices in key clean energy technologies, the cost of saving the climate has dropped dramatically.

In fact, according to IRENA’s new report, the most cost-effective strategy to achieve a “climate-safe future” — keeping global warming below 2 degrees Celsius (3.6 degrees Fahrenheit) — is an accelerated energy transition to renewables and energy efficiency coupled with electrification of key sectors like transportation.

This Renewable Energy Roadmap (REmap) scenario “would also save the global economy up to USD 160 trillion cumulatively over the next 30 years in avoided health costs, energy subsidies and climate damages.” MORE

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s