U.S. would pay most in green energy proposal

subscribe

The world could generate 95 percent of electricity from renewable energies by 2050 in a drastic shift from fossil fuels, with the United States paying about a third of a giant bill, green lobby groups said.

The report, by Greenpeace and the European Renewable Energy Council EREC, representing Europe's main renewable energy companies, is one of the most detailed to work out the nuts and bolts of a near-total shift to green energy such as wind or solar power. Such proposals often stop at wishful thinking.

The report said that global investments in energy would need to total $18 trillion by 2030 — almost five times the entire U.S. federal budget for next year — to set the world on a path to generating about 95 percent of electricity from non-polluting renewables by mid-century.

However, the International Energy Agency has estimated that investments of $11.3 trillion will be needed anyway by 2030, in all forms of energy, to cover the world's growing needs. The IEA's central scenario assumes fossil fuels will remain dominant.

Renewables now make up about 18 percent of electricity generation and governments want to raise the share.

This is partly to combat global warming caused by greenhouse gas emissions from fossil fuels, and partly to diversify and guarantee energy supplies as fossil resources decline, and to combat other forms of pollution.

Sven Teske, lead author of the 260-page report at Greenpeace, said there would be long-term economic benefits from a phase-out of subsidies for fossil fuels and from the fact that inputs to renewable electricity — such as wind or geothermal energy — are free. The plan would also phase out nuclear power.

"The costs at the beginning are because renewables are more labor-intensive," he said.

To pay the bill, the report suggests looking at historical responsibility for greenhouse gas emissions and at ability to pay. That meant the United States would pay 36.3 percent of the annual bill in 2010, falling to 28.9 percent in 2030.

China, which recently overtook the United States as top greenhouse gas emitter, would pay only 4.3 percent of the bill in 2010, rising to 13.6 percent by 2030, since it is poorer and has a shorter history of industrialization.

The report said the shift would mean there were about 12 million jobs, including 8.5 million in the renewables sector, by 2030.

"Under business as usual, global renewable power jobs would be only 2.4 million of the global power sector's 8.7 million jobs," it said.

Negotiators from about 185 nations are meeting in Bonn from to discuss a new UN climate deal after a summit in Copenhagen in December fell short of agreeing a binding treaty on reducing greenhouse gas emissions.

Related News

lightning strike

Almost 500-mile-long lightning bolt crossed three US states

NEW YORK - An almost 500-mile long bolt of lightning that lit up the sky across three US states has set a new world record for longest flash, scientists have confirmed.

The lightning bolt, extended a total of 477.2 miles (768 km) and spread across Mississippi, Louisiana, and Texas.

The previous record was 440.6 miles (709 km) and recorded in Brazil in 2018.

Lightning rarely extends over 10 miles and usually lasts under a second.

Another lightning flash recorded in 2020 - in Uruguay and Argentina - has also set a new record for duration at 17.1 seconds. The previous record was 16.7 seconds.

"These…

READ MORE
German Chancellor Olaf Scholz

Germany extends nuclear power amid energy crisis

READ MORE

UK electricity and gas networks making ‘unjustified’ profits

READ MORE

power lines

Typical Ontario electricity bill set to increase nearly 2% as fixed pricing ends

READ MORE

canada microgrid

Why Canada should invest in "macrogrids" for greener, more reliable electricity

READ MORE