The Energy Future is 100% Renewable!

Last week was filled with good news as the IPCC released its Special Report on Renewable Energy Sources and Climate Change Mitigation für erfreuliche Nachrichten: A share of 80% renewable energy in the global energy mix is possible until 2050 if politics provides investment and attractive subsidies.

In concrete terms, annual investments of 1% of global GDP are necessary, which isn’t such a big number if we compare it to annual fossil fuel subsidies of $ 600 bn. Moreover, while the costs of renewable energy are decreasing, the costs of fossil fuels are expected to further increase in the coming decades.

This provides a unique chance especially for developing countries which are most affected by climate change, e.g. as electricity can be generated in regional areas thanks to photovoltaics. In the face of a lack of financial investments, industrial countries need to take responsibility and offer financial and technological support.

Despite two-digit growth rates for wind and solar energy, we still face a global energy mix that is dominated by coal, oil and gas. And while the share of renewable energy already amounts to 13%, this mainly consists of biomass (10%) which means deforestation and dangers to health in developing countries.

It is clear that the chances of a global energy revolution are bigger than ever and that cost parity between renewable energy and fossil fuels is within reach. So, it is even more important that decision-makers support this energy revolution by building the necessary political and legal framework on a national and international level!

Posted on May 18, 2011 in Sustainability

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About the Author

Andreas Lindinger is a Vienna-based business consultant, sustainability expert and urban thinker passionate about livable cities, sustainable transportation, renewable energy and civic engagement. Andreas offers a transdisciplinary business, finance and sustainability background, industry expertise in energy, mobility and environmental consulting and broad international experience gained in Vienna, Vancouver, Berlin and Dublin. Make sure to also check out Vienncouver.com and to follow @lindinger on Twitter.

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