{"id":57242,"date":"2021-03-25T06:41:48","date_gmt":"2021-03-25T11:41:48","guid":{"rendered":"https:\/\/olduvai.ca\/?p=57242"},"modified":"2021-03-25T06:41:48","modified_gmt":"2021-03-25T11:41:48","slug":"how-will-we-pay-for-the-energy-transition","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=57242","title":{"rendered":"How Will We Pay for the Energy Transition?"},"content":{"rendered":"

How Will We Pay for the Energy Transition?<\/a><\/h3>\n
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Earlier this month, the International Renewable Energy Agency\u00a0said<\/a>\u00a0the world needed to invest $131 trillion by 2050 in order to limit the estimated global rise in average temperatures to 1.5 degrees Celsius. That\u2019s 30 percent more than what is currently planned. It\u2019s also equal to investments of $4.4 trillion every year from now until 2050. How realistic are these spending goals?<\/p>\n

Well, it appears that the realism of IRENA\u2019s estimates depends on how you look at the energy transition: as simply an increase in renewable energy generating capacity and a consequent increase in the share of electricity in national energy mixes. While not exactly wrong, this widely shared perspective fails to account for the sheer scale of the change we are in the process of undertaking.<\/p>\n

James Bradford, chief executive of asset manager Vivid Capital management, compared the energy transition to the Industrial Age in terms of significance\u2014an era that will present substantial challenges and numerous opportunities.<\/p>\n

\u201cThere will be some spectacular growth industries developed along the way,\u201d Bradford told Oilprice. \u201cInstalled solar capacity for example is expected to grow from less than 1TW today to nearly 10TW by 2050. That\u2019s 10x growth, which is enormous growth, for any industry.\u201d<\/p>\n

And solar is just one example. When you add all the other renewable forms of energy such as wind or biomass, or hydro, and the ambitious plans many governments have about hydrogen, the scale of the transition\u2014and the fitting size of the investment needed to implement it\u2014becomes more obvious.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n

irina slav, oilprice.com, renewable energy, energy transition, fossil fuels, irea, international renewable energy agency<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

How Will We Pay for the Energy Transition? Earlier this month, the International Renewable Energy Agency\u00a0said\u00a0the world needed to invest $131 trillion by 2050 in order to limit the estimated global rise in average temperatures to 1.5 degrees Celsius. That\u2019s 30 percent more than what is currently planned. It\u2019s also equal to investments of $4.4 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[5930,328,19799,31069,13719,5332,674],"class_list":["post-57242","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-energy-transition","tag-fossil-fuels","tag-international-renewable-energy-agency","tag-irea","tag-irina-slav","tag-oilprice-com","tag-renewable-energy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57242"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57242\/revisions"}],"predecessor-version":[{"id":57243,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57242\/revisions\/57243"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}