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SITUATION
Energy-related CO2e emissions currently account for approximately 60%, or 30 billion tons, of anthropogenic emissions that are destabilizing the climate. Under IPCC projections, CO2e emissions from energy are estimated to increase to 35.4 billion tons in 2020; lectricity generation is a large share of these emissions.
Energy-related CO2e emissions currently account for approximately 60%, or 30 billion tons, of anthropogenic emissions that are destabilizing the climate. Under IPCC projections, CO2e emissions from energy are estimated to increase to 35.4 billion tons in 2020; lectricity generation is a large share of these emissions.
Stabilization targets for CO2e emissions to avoid catastrophic climate change cannot be achieved without low-carbon electricity generation. The IEA projects that energy demand globally will grow by close to 20%, or over 100 quads, by 2020. Only 7% of new energy demand will be met by renewable energy sources with little or no CO2e emissions. Business-as-usual falls significantly short of what is needed and what is possible.
Falling costs for renewable electricity generation have been making these generation technologies attractive investments. Solar is less expensive then new coal-fired generation in the U.S. Wind is also price competitive in global markets and has experienced a 50% annual growth rate. Geothermal energy has been successfully tapped in Iceland and parts of the western U.S. and has global potential if the technology is advanced. Wave and tidal energy generation are also being deployed. Remaining barriers to market adoption include lack of utility experience integrating renewable generation with the electricity grid, information, and financing for generation that typically has higher upfront (capital) costs but lower operational costs (due to zero fuel costs).
OBJECTIVE
Meeting new electricity demand globally with renewable energy sources is critical to achieving global CO2e stabilization targets. Using renewable energy generation and efficiency measures in place of fossil-based generation to meet new global energy demand could avoid an estimated 3 billion tons of CO2e annually in 2020, based on IEA projections.
Meeting new electricity demand globally with renewable energy sources is critical to achieving global CO2e stabilization targets. Using renewable energy generation and efficiency measures in place of fossil-based generation to meet new global energy demand could avoid an estimated 3 billion tons of CO2e annually in 2020, based on IEA projections.
Implementation of a Smart Grid to facilitate more efficient management of electricity and retirement of fossil-based generation could provide additional CO2e reductions.
Investment in renewable generation has been growing but needs to accelerate to support climate stabilization objectives. Measures to accelerate investment include the following:
- Renewable energy generation standards
- Public investment to bring down costs, including tax credits, which have been successfully applied in the U.S. market for wind, and feed-in tariffs, successfully applied to solar in many international markets
- Specific policy support for renewables that includes, for example, accelerated permitting, land use regulation, and transmission support
- A meaningful price on carbon that signals a growing market for renewables.
A number of markets for renewables can be accelerated even without these measures due to the high existing price of electricity. Japan is an example of a high-cost energy market that has aggressively implemented energy efficiency and supported renewable generation. Other markets include island nations and the military. Information, including cost effectiveness of renewables and implementation plans, is required in these markets.
ELECTRICITY IS 41% OF EMISSIONS
According to the IEA Outlook report for the COP15, power generation is responsible for approximately 41% of global CO2e emissions. Emissions are increasing with energy demand under all...
Read more > Source: IEA, 2009
POWER PLANTS EMIT CO2E, NOX, AND SOX 
Electricity produced from burning fossil fuels releases harmful air pollution in addition to CO2e that is leading to dangerous climate change. Emissions include NOx that harms lungs and...
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RENEWABLE ENERGY IS A SOLUTION
Meeting all new energy demand with renewables could avoid up to 3 billion tons of CO2eannually by 2020. Electricity from renewables - such as solar - contribute little or no CO2...
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INVESTMENT IN CLEAN ENERGY IS RISING
New investment (billions US$) in sustainable energy has been growing rapidly in recent since 2002. Future investment is expected to keep pace...
Read more > Source: New Energy Finance, 2009
RENEWABLES ARE SMALL PART OF MIX
Renewable energy made up 7 percent of total U.S. energy consumption in 2008. Of that 53 percent was from biomass energy, 36 percent from hydroelectric, 5 percent from geothermal, 5 percent from wind
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Source: EIA, 2009
INTELLIGENCE
REPORTS
Gigaton Throwdown, 2009
UNEP and New Energy Finance, 2009
REN21, 2009
PUBLICATIONS
R. Pernick & C. Wilder
2007
2007
