Energy is at the heart of the climate challenge – and key to the solution.
A large chunk of the greenhouse gases that blanket 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 over 75 percent of global greenhouse gas emissions and nearly 90 percent of all carbon dioxide emissions.
The science is clear: to avoid the worst impacts of climate change, emissions need to be reduced by almost half by 2030 and reach net-zero by 2050.
To achieve this, we need to end our reliance on fossil fuels and invest in alternative sources of energy that are clean, accessible, affordable, sustainable, and reliable.
Renewable energy sources – which are available in abundance all around us, provided by the sun, wind, water, waste, and heat from the Earth – are replenished by nature and emit little to no greenhouse gases or pollutants into the air.
Fossil fuels still account for more than 80 percent of global energy production, but cleaner sources of energy are gaining ground. About 29 percent of electricity currently comes from renewable sources.
1. Renewable energy sources are all around us
About 80 percent of the global population lives in countries that are net-importers of fossil fuels — that’s about 6 billion people who are dependent on fossil fuels from other countries, which makes them vulnerable to geopolitical shocks and crises. In contrast, renewable energy sources are available in all countries, and their potential is yet to be fully harnessed. The International Renewable Energy Agency (IRENA) estimates that 90 percent of the world’s electricity can and should come from renewable energy by 2050. Renewables offer a way out of import dependency, allowing countries to diversify their economies and protect them from the unpredictable price swings of fossil fuels, while driving inclusive economic growth, new jobs, and poverty alleviation.
2. Renewable energy is cheaper<span style=”color: var(–ast-glo
Renewable energy actually is the cheapest power option in most parts of the world today. Prices for renewable energy technologies are dropping rapidly. The cost of electricity from solar power fell by 85 percent between 2010 and 2020. Costs of onshore and offshore wind energy fell by 56 percent and 48 percent respectively. Cheap electricity from renewable sources could provide 65 percent of the world’s total electricity supply by 2030. It could decarbonize 90 percent of the power sector by 2050, massively cutting carbon emissions and helping to mitigate climate change. Although solar and wind power costs are expected to remain higher in 2022 and 2023 then pre-pandemic levels due to general elevated commodity and freight prices, their competitiveness actually improves due to much sharper increases in gas and coal prices, says the International Energy Agency (IEA).
3. Renewable energy is healthier
According to the World Health Organization (WHO), about 99 percent of people in the world breathe air that exceeds air quality limits and threatens their health, and more than 13 million deaths around the world each year are due to avoidable environmental causes, including air pollution. The unhealthy levels of fine particulate matter and nitrogen dioxide originate mainly from the burning of fossil fuels. In 2018, air pollution from fossil fuels caused $2.9 trillion in health and economic costs, about $8 billion a day. Switching to clean sources of energy, such as wind and solar, thus helps address not only climate change but also air pollution and health.
4.
Renewable energy creates jobs
Every dollar of investment in renewables creates three times more jobs than in the fossil fuel industry. The IEA estimates that the transition towards 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, an estimated 14 million new jobs would be created in clean energy, resulting in a net gain of 9 million jobs. In addition, energy-related industries would require a further 16 million workers, for instance to take on new roles in manufacturing of electric vehicles and hyper-efficient appliances or in innovative technologies such as hydrogen. This means that a total of more than 30 million jobs could be created in clean energy, efficiency, and low-emissions technologies by 2030. Ensuring a just transition, placing the needs and rights of people at the heart of the energy transition, will be paramount to make sure no one is left behind.
5. Renewable energy makes economic sense
About $7 trillion was spent on subsidizing the fossil fuel industry in 2022, including through explicit subsidies, tax breaks, and health and environmental damages that were not priced into the cost of fossil fuels.
In comparison, about $4 trillion a year needs to be invested in renewable energy until 2030 – including investments in technology and infrastructure – to allow us to reach net-zero emissions by 2050.
The upfront cost can be daunting for many countries with limited resources, and many will need financial and technical support to make the transition. But investments in renewable energy will pay off. The reduction of pollution and climate impacts alone could save the world up to $4.2 trillion per year by 2030.
Moreover, efficient, reliable renewable technologies can create a system less prone to market shocks and improve resilience and energy security by diversifying power supply options. Learn more about how many communities and countries are realizing the economic, societal, and environmental benefits of renewable energy.
Storage
is the key to the renewable energy revolution
Ø Investment in renewable energy is skyrocketing, in line with ambitious national targets aimed at curbing carbon emissions.
Ø As renewable energy capacity grows, we must identify and expand better ways of storing this energy, to avoid waste and deal with demand spikes.
Ø Utility companies and other providers are increasingly focused on developing effective long-term energy storage solutions.
Governments and corporations alike have set aggressive sustainability goals that they must hit over the next decade to reduce the effects of climate change. As such, there has been significant investment in the energy transition to renewable sources.
First, renewable generation faces intermittency and curtailment issues. That is to say, renewable sources only generate when the sun is shining or wind is blowing, while at others times too much energy for the demand level is generated by these sources, causing waste. Second, renewable energy generation does not solve issues stemming from severe weather conditions, where grids may shut off and insufficient energy is generated during supply and demand shocks.
Long Duration Energy Storage: The key To Renewable Energy Expansion
LDES systems integrate with renewable generation sites and can store energy for over 10 hours. e-Zinc’s battery is one example of a 12–100-hour duration solution, with capabilities including recapturing curtailed energy for time shifting, providing resilience when the grid goes down and addressing extended periods of peak demand to replace traditional peaking power plants and transmission and distribution infrastructure.
Curtailment creates waste today, but is also a significant opportunity if we can conserve that energy for when we need it. The New York Independent System Operator, which monitors the reliability of the state’s power system and coordinates the daily operations to distribute electricity supply, saw 64 GWh of wind generated energy curtailed, wasted, in 2021. This is equivalent to powering 12,000 homes for an entire year. Meanwhile in California, the issue is magnitudes larger — 1.9 TWh of solar generated energy was curtailed in 2022; the equivalent of powering 200,000 homes for an entire year. The Southwest Power Pool, a considerably smaller market for renewable buildout, curtailed 7% of all wind generated energy (9 GWh) in 2022.
The Green Energy Revolution: How Renewable Energy is
Changing the World
The Urgency of Renewable Energy
The Climate Crisis:- The effects of climate change have become increasingly evident, with rising global temperatures, extreme weather events, and melting polar ice caps. Burning fossil fuels for energy production is a major contributor to greenhouse gas emissions, exacerbating the climate crisis. Embracing renewable energy is crucial to mitigating the adverse effects of climate change and creating a sustainable future.
Energy Independence and Security:- Traditional energy sources such as coal, oil, and gas are finite resources. As their reserves deplete, nations become more reliant on external suppliers, leading to energy insecurity. On the other hand, renewable energy provides an opportunity for countries to achieve energy independence and reduce geopolitical tensions associated with fossil fuel dependency.
Advantages of Renewable
Energy
Clean and Sustainable:- Renewable energy sources, including solar, wind, hydro, geothermal, and biomass, offer a clean and sustainable alternative to fossil fuels. By harnessing natural resources, these energy forms produce minimal or zero greenhouse gas emissions, reducing pollution and improving air quality.
Job Creation and Economic Growth:-The green energy sector has been proven to boost job creation and economic growth significantly. As more renewable energy projects are developed, there is a growing demand for skilled professionals in various fields, including engineering, construction, manufacturing, and research.
Technological Advancements:-The rapid growth of renewable energy has spurred technological advancements in energy storage, grid integration, and efficiency. Innovations such as high-capacity batteries, smart grids, and advanced solar panels have made renewable energy more accessible and cost-effective.
Key Renewable Energy
Sources
Solar Power:- Using photovoltaic (PV) panels or solar thermal systems, one can harness solar energy by capturing sunlight and turning it into electricity. Solar power has experienced significant growth thanks to declining costs, improved efficiency, and widespread adoption. It is a versatile energy source suitable for residential, commercial, and utility-scale applications.
Wind Power:- Wind turbines convert the kinetic energy of wind into electricity. Wind power is a mature and rapidly expanding renewable energy source capable of generating large amounts of clean energy. Wind farms are increasingly dotting landscapes worldwide, providing a sustainable and cost-effective alternative to conventional power plants.
Hydropower:- Hydropower utilizes the energy of flowing or falling water to generate electricity. It is one of the most widely used renewable energy sources, with hydroelectric dams and run-of-river projects supplying power to millions of people globally. Hydropower offers a reliable and flexible energy solution, contributing to grid stability and renewable energy integration.
Geothermal Energy:- Geothermal energy taps into the earth’s natural heat to produce electricity or heat buildings directly. It involves harnessing hot water or steam from beneath the earth’s surface and converting it into usable energy. Geothermal power plants provide a constant and reliable source of clean energy, reducing dependence on traditional power sources.
Biomass Energy:- Biomass power plants convert biomass into biogas, biofuels, or directly combust it to generate heat and electricity. This renewable energy source utilizes organic waste materials, reducing reliance on landfills and providing a sustainable solution for waste management. Biomass energy contributes to a circular economy by repurposing organic resources and reducing greenhouse gas emissions.
The Global Transition to
Renewable Energy
Government Initiatives and Policies:- Governments around the world are recognizing the importance of renewable energy and implementing policies to accelerate its adoption. Incentives such as feed-in tariffs, tax credits, and renewable portfolio standards encourage investment in clean energy projects. Additionally, international agreements like the Paris Agreement have committed nations to reduce greenhouse gas emissions and transition to a low-carbon economy.
Technological Innovation:- Advancements in renewable energy technologies have made green energy more accessible and affordable. As research and development continue, breakthroughs in energy storage, efficiency, and grid integration are driving the widespread adoption of renewables. Innovations like floating solar farms, next-generation wind turbines, and efficient geothermal systems are revolutionizing the renewable energy landscape.
Corporate Sustainability:- Businesses across various industries are increasingly incorporating renewable energy into their operations. Many companies set ambitious sustainability goals and invest in renewable energy projects to reduce their carbon footprint. By embracing green energy, organizations contribute to environmental preservation, enhance their reputation, and attract environmentally conscious consumers.
Environmental and Social
Impact
Mitigating Climate Change:- Renewable energy plays a crucial role in mitigating climate change by reducing greenhouse gas emissions. The transition to green energy sources helps limit global warming and its associated environmental consequences. Decreasing reliance on fossil fuels can protect ecosystems, preserve biodiversity, and safeguard the planet for future generations.
Improved Air Quality:- Fossil fuel combustion releases harmful pollutants into the air, contributing to air pollution and respiratory issues. Switching to renewable energy significantly improves air quality by eliminating or minimizing emissions of particulate matter, sulfur dioxide, nitrogen oxides, and other pollutants.
The Energy Revolution Has Arrived – Here’s How To Be a Part Of It
The industrial revolution took 100 years. The digital revolution, two decades. The next global revolution, the energy revolution, has already begun. But how fairly and how fast it happens is the biggest challenge of our time.
Global temperatures are
already 1.2oC above pre-industrial levels and are
causing more frequent and more extreme weather. Close to a thousand cities will
face regular, severe heatwaves in 30 years.
Climate-linked extreme weather increases the frequency
and severity of devastating flooding, droughts, and
wildfires, leading to population displacement, loss of livelihoods, and lives.
This global energy transformation can, and must, include
universal access to energy, which will open up incredible new opportunities and
help end deep inequalities.
It’s almost unbelievable that 759 million people in the world still lack electricity and all the opportunities it brings. And It’s simply unacceptable that 2.6 billion people don’t have clean fuel and technology for cooking, lighting or heating their homes.
Clean energy has the potential to deliver universal energy access in a way that is safe and powers economic development for everyone, from clean cooking innovations and solar-powered water pumps, to new business models for off-grid electrification and renewable energy batteries.
It enables vital services such as affordable broadband, the central nervous system of the modern economy, creating new employment opportunities, reducing poverty and improving livelihoods.
It transforms lives, especially in regions such as sub-Saharan Africa where half of secondary schools and 60 percent of health facilities have no power. It reduces the toll of close to four million deaths every year due to toxic fumes from stoves or open fires.
It transforms lives, especially in regions such as sub-Saharan Africa where half of secondary schools and 60 percent of health facilities have no power. It reduces the toll of close to four million deaths every year due to toxic fumes from stoves or open fires.
As governments start to define a pathway out of the COVID-19 crisis, we must ensure that all countries have the chance to be part of an energy transition that puts the world on track to achieve the Sustainable Development Goals and meet the Paris Agreement targets – significantly improving the wellbeing of all people and our planet.
This will not be an easy task. To ensure a just transition, we must assist communities to adapt to a green economy through social protection and new skills, ensuring all who need to be are equipped to take advantage of the 30 million new green jobs expected by 2030.
The United Nations is also offering a powerful level of support to ensure developing countries play a full part in a global green, fair recovery.
The UNDP Climate Promise is supporting 118 countries to enhance their climate pledges. A major part of this support is helping countries to implement a just transition to clean, renewable energy which will boost economies and create new jobs and livelihoods.
The tipping points of the energy transition are already here. The cost of renewables continues to plunge. Public opinion backing decarbonization continues to soar. Financial institutions and the private sector are starting to abandon fossil fuels.
And a series of ground-breaking legal rulings and decisions this month mark a turning point in the financial and legal consequences awaiting fossil fuel companies and any other businesses that do not act fast to take accountability for their role in preventing a climate catastrophe.
To support accelerating momentum for this transition, the United Nations Secretary-General is convening the first High-Level Dialogue on Energy in 40 years in September 2021. The landmark event will offer a global stage for countries to attract new investments and forge new partnerships to drive forward the energy revolution.