Renewable energy costs are continuing to fall year on year while oil, gas and coal are becoming more and more difficult to extract which ultimately will increase the price of carbon-based fuels. Countries such as Canada and Finland have already banned coal with many more countries planning on doing the same. There is only one possible conclusion and that is the era of fossil fuels is over. The economics of clean energy has made the arrival of this new era inevitable, clean energy is now less expensive.
Request for Clean Energy Startups in the Following Sectors
An increase in onshore wind from 3 to 4% of world electricity use to 21.6% by 2050 could reduce emissions by 84.6 gigatons of carbon dioxide. At a combined cost of $1.8 trillion, wind turbines (onshore and offshore) could reduce emissions by 100 gigatons of CO2.
Currently at .4% of global electricity production, assuming utility-scale solar PV grows to 10% this could avoid 36.9 gigatons of CO2 by 2050.
Currently at .4% of global electricity production, assuming rooftop solar can grow to 7% by 2050 this could avoid 24.6 gigatons of emissions.
Wave and Tidal energy currently generate .0004% of global electricity production. The few predictions available assume it could grow to .28% by 2050. This would result in 9.2 gigatons saved over thirty years. The cost to implement this would be $1 trillion
Biomass is a “bridge solution”, phased out over time in favour of cleaner energy solutions. Assuming all biomass is derived from bioenergy and not forests and replaces coal and natural gas it could avoid 7.5 gigatons of carbon dioxide. As clean wind and solar power become more readily available, the need for biomass will decline over time.
Nuclear dynamics around safety and public acceptance will influence its future direction of expansion or contraction. Assuming it grows to 13.6% of global electricity generation but declines to 12% by 2050 this could result in 16.1 gigatons of CO2 emissions avoided at a cost of circa $900m.