What is the alternative to electricity?

Renewable energy – a safer future

A large portion of the greenhouse gases that surround the Earth and trap the sun’s heat are generated through energy production, by burning fossil fuels to generate electricity and heat.

Fossil fuels, such as coal, oil and gas, are by far the largest contributor to global climate change, accounting for more than 75 percent of global greenhouse gas emissions and about 90 percent of all carbon dioxide emissions.

The science is clear: to avoid the worst effects of climate change, emissions must be cut by almost half by 2030 and reached net zero by 2050.

To achieve this, we need to eliminate our dependence on fossil fuels and invest in alternative sources of energy that are clean, available, affordable, sustainable and reliable.

Renewable energy sources (available in abundance all around us through sun, wind, water, waste, and geothermal heat) are created by nature and emit few, if any, gases or pollutants.

Fossil fuels still account for more than 80 percent of global energy production, but cleaner energy sources are gaining ground. About 29 percent of electricity currently comes from renewable sources.

Here are  5 reasons why accelerating the transition to clean energy is the path to a healthy, livable planet  for current and future generations.

1.  Renewable energy sources are all around us

About 80 percent of the world’s population lives in countries that import fossil fuels, meaning about 6 billion people depend on fossil fuels coming from other countries, making them vulnerable to geopolitical shocks and crises.

In contrast, renewable energy sources are available in all countries, and their potential has not yet been fully exploited. The International Renewable Energy Agency believes that 90 percent of the world’s electricity can and should be generated from renewable energy by 2050.

Renewable energy sources enable the elimination of dependence on imports, allowing countries to diversify their economies and protect them from unpredictable fluctuations in fossil fuel prices, while driving inclusive economic growth, creating jobs, and alleviating poverty.

What is the alternative to electricity?

2.  Renewable energy is less expensive

Renewable energy is actually the least expensive energy in most parts of the world today. Prices for renewable energy technologies are falling rapidly. The cost of electricity generated from solar energy decreased by 85 percent between 2010 and 2020. The cost of onshore and offshore wind energy fell by 56 percent and 48 percent, respectively.

Thanks to its lower cost, renewable energy is more attractive everywhere, including in low- and middle-income countries, where most of the additional demand will be for renewable electricity. Low prices offer a real opportunity to provide many new energy supplies over the coming years from low-carbon sources.

Low-cost electricity generated from renewable sources could provide 65 percent of the world’s total electricity supply by 2030. It could also decarbonize 90 percent of the energy sector by 2050, while significantly reducing carbon emissions and helping to mitigate Effects of climate change.

Although solar and wind costs in 2022 and 2023 are expected to remain above pre-pandemic levels due to a general rise in commodity and freight prices, their competitiveness is already being improved by sharper increases in gas and coal prices, the IEA says.

What is the alternative to electricity?

3.  Renewable energy maintains health

According to World Health Organization estimates, 99 percent of the world’s population breathes air that exceeds the maximum limits of air quality, and this air threatens their health, and more than 13 million deaths in the world every year are due to avoidable environmental causes, especially air pollution.

Unhealthy levels of fine particulate matter and nitrogen dioxide are primarily caused by burning fossil fuels. In 2018, air pollution from fossil fuels caused $2.9 trillion in health and economic costs, about $8 billion per day.

Thus, switching to clean energy sources, such as wind and solar, not only helps in tackling climate change but also allows air pollution and health to be taken care of.

4.  Renewable energy creates job opportunities

Every dollar invested in renewables produces three times as many jobs created in the fossil fuel sector. The International Energy Agency expects that the transition to net-zero emissions will lead to an overall increase in energy sector jobs: while about 5 million jobs in fossil fuel production could be lost by 2030, about 14 million new jobs would be created in clean energy, a gain of 9 Millions of jobs.

In addition, energy-related industries will require an additional 16 million workers, for example to take on new roles in the manufacturing of electric cars and highly efficient appliances or in innovative technologies such as hydrogen. This means that more than 30 million jobs could be created in clean energy, efficiency and low-emission technologies by 2030.

Achieving a just transition and putting people’s needs and rights at the heart of the energy transition will be crucial to ensuring that no one is left behind.

What is the alternative to electricity?

5. Renewable energy is economically feasible

About $5.9 trillion was spent supporting the fossil fuel industry in 2020, through explicit subsidies, tax breaks, and health and environmental damages that are not counted toward the cost of fossil fuels.

By comparison, about $4 trillion a year would need to be invested in renewable energy through 2030 – particularly in technology and infrastructure – to get emissions to net zero by 2050.

The initial cost may be heavy for many countries with limited resources, and many will need financial and technical support to make the transition. But investing in renewable energy will pay off. Reducing pollution and the effects of climate change alone could save the world up to $4.2 trillion annually by 2030.

Moreover, efficient and reliable renewable energy technologies can create a system less vulnerable to market shocks and enhance resilience and energy security by diversifying options.