A recent report from the International Energy Agency (IEA) found that there is indeed a solution that would allow us to limit global average temperature increase to 2°C and thus prevent dangerous anthropogenic interference with the Earth’s climate system. But don’t celebrate just yet. Achieving this goal requires a radical transformation of the global energy network and the end of centralized fossil fuel generation.
Never has the phrase “easier said than done” been more appropriate.
In a 68-page document titled Energy Perspectives 2012, the IEA examines the status of technology development, the alternatives, the state of policy support and R&D, and various scenarios that could give the world the best chance of avoiding dangerous climate change.
In order to meet the 2°C goal, the IEA says it’s absolutely essential to establish more flexible energy generation and distribution systems, so that at least 50 percent of the world’s electricity is provided by renewables by the middle of the century. In order for this to happen, global investments in what IEA sees as critical technologies – carbon capture and storage, solar thermal, and offshore wind – must double by 2020.
Since all three of those technologies are already in use around the world, we know it’s possible to achieve this ambitious goal. As the report points out, however, the issue holding everything back is money. Even though the switch to decentralized, clean energy technologies would be costly, they’re merely a drop in the bucket compared to what we’re destined to spend extracting, refining, burning, and cleaning up after fossil fuels.
“An additional $36 trillion of investment would be required to overhaul the world’s current energy system by the middle of the century, but this would be offset by $100 trillion in savings through reduced use of fossil fuels,” reads the report.
You would think that in a time of worldwide financial crisis, with the world’s major economies in trillions of dollars of debt, these types of savings would be all that’s needed to put the wheels of progress in motion. But alas, that is not the case. Although government funding of clean technology may seem more robust than ever, the report found that R&D for emerging technologies is less than it was in the 1980s.
“Now that we have identified the solution and the host of related benefits, and with the window of opportunity closing fast, when will governments wake up to the dangers of complacency and adopt the bold policies that radically transform our energy system? To do anything less is to deny our societies the welfare they deserve,” said IEA Executive Director Maria van der Hoeven.
Photo Credit: ToGa Wanderings/Flickr
via reneweconomy