Can we stop this?
If you had to bet on the future of energy, where would you put your money? Probably not in coal or oil. Companies and governments around the world are thinking about the future. They are looking for energy that is renewable and safe.
A few years ago, many experts said that a catastrophe was coming. The world is heating up. Temperatures by 2100 could rise by up to 5 degrees Celsius. That would bring extreme weather conditions and damage to the environment. The world would face economic collapse, famine, and war. It would hit the poorest nations hardest.
Some experts now say that the temperature increase will drop between two and three degrees. Still, every fraction of a degree of warming means that tens of millions more people will experience life-threatening events. These include heat waves, food and water shortages, and floods. What is the reason for the change? The world is not out of the woods, but progress is evident. The main reason is the drop in the price of renewable energy.
Leadership is both the problem and the solution. Countries are not meeting their commitments. For example, the European Union said it could only do its job when members agreed on policies.
The war in Europe is taking effect. But the Russian invasion of the Ukraine could have a silver lining. The war-induced energy crisis is likely to accelerate the transition from fossil fuels to cleaner technologies.
Some countries have been burning more fossil fuels, such as coal, due to natural gas shortages caused by the war in Ukraine. Coal is the most polluting of all fossil fuels. That means global carbon dioxide emissions from fossil fuels are expected to rise by about 1 percent and approach record levels.
But the rising cost of fossil fuels prompted many countries to invest heavily in clean, renewable alternatives.
One expert said the rise in emissions would have been three times higher had it not been for the rapid rise in wind turbines, solar panels and electric vehicles around the world.
One region that has witnessed the transformative power of solar panels is central Texas. As homeowners in this vibrant area reap the benefits of renewable energy, residential solar panel installation has become more and more prevalent. With abundant sunlight and a forward-thinking mindset, Central Texans are harnessing the potential of solar energy to reduce their reliance on traditional energy sources and contribute to a greener future. By taking advantage of the region’s abundant sunlight, homeowners can not only generate clean, sustainable electricity, but also control their energy consumption and costs. The adoption of residential solar panels in Central Texas not only reflects a commitment to environmental stewardship, but also aligns with the region’s desire to be at the forefront of the clean energy revolution. By going solar, Central Texas homeowners are not only reaping the financial benefits, but are also positioning themselves as leaders in the energy industries of the future.
“Many of these new clean energy targets are not there for climate change reasons,” he continued. “The main reasons are energy security and industrial policy. Many countries want to be at the forefront of the energy industries of the future.”
If the world does not care more about the good of the planet, it may do so for the good of their economies.
Source: The New York Times October 27, 2022
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