NEW ENERGY COULD SAVE $180 BILLION/YEAR

It is not an energy crisis, it is an energy opportunity!

Renewable Energy Future Could Save the World Billions of Dollars a Year
July 6, 2007 (Environment News Service)

WHO
Greenpeace International, the European Renewable Energy Council (EREC)


WHAT
"Future Investment - A sustainable Investment Plan for the power sector to save the Climate" reports that switching from fossil fuels to renewables will save $180 billion/year and cut greenhouse gas (GHG) emissions in half by 2030.

WHEN
Report released July 6, timed to coincide with the Live Earth concerts of 07-07-07.

WHERE
EREC is based in Brussels and Greenpeace International is based in Amsterdam.

WHY
- The report advocates a switch from coal and nuclear to solar, wind, hydro, geothermal and bio energies because of enormous cost savings and GHG reduction. It describes a plan to cut emissions 50% by 2050 without economic detriment, in direct opposition to what it calls “business as usual” as represented by an International Energy Agency (IEA) plan.
- “Energy Revolution” requires $22 billion/year world investment in clean and renewable power plants over current spending but yields $202 billion/year savings. The report argues fossil fuel industries now get $250 billion/year in subsidies that could go to renewables.
- The report stresses the urgent need for decisive action now. In the next decade, many existing power plants will need replacing, and emerging economies such as China, India and Brazil are rapidly building new energy infrastructure.
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QUOTES
- Sven Teske, Greenpeace International: "As Live Earth mobilizes billions of people to take urgent action against the climate threat, our report shows not only that the world’s electricity needs can be met by renewable energy, but that by doing so, we will literally save trillions of dollars; a massive US$180 billion a year, forever…In sharp contrast…[the IEA’s] business as usual approach casts a dark cloud over our future…Its 10,000 new fossil fuel power plants, would increase global CO2 emissions by over 50 percent, and more than double fuel costs; there is no way of putting a price on the disastrous results this will have for environment and humanity…"
- Oliver Schäfer, EREC policy director: "The renewable industry is willing and able to deliver the power plants the world needs, we simply need the right climate and energy policy…Decisions made in the next few years, will continue to have an impact in 2050. Only if a renewable energy path is taken, can we avoid the worst excesses of climate change…"