Three Ways To Grow A Green Post-Covid World

How to Grow Green

June 9, 2020 (Bloomberg News)

“…[Generating energy] is 31% of global greenhouse gas emissions…Renewable energy is already cheaper than nonrenewable energy in lots of markets, but [there are three things governments could do to] speed things along…After the 2008 financial crisis, South Korea put almost 80% of its stimulus spending toward climate-friendly policies, including significant investments in energy efficiency and development of its renewables industries. A few years later, the International Monetary Fund dubbed the country’s recovery one of the swiftest and most successful in the world, in large part because of those investments…[It has already devoted $185 million] to subsidies for home rooftop solar installation as part of its coronavirus recovery…

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New smart grid infrastructure would be able to respond to ¬consumers and suppliers, allowing for a more effective and less wasteful flow of power…Government ¬subsidies could speed that along and also encourage businesses to reduce their usage during times of high demand…[The methods used to produce green hydrogen] are still too expensive to be deployed at scale…[W]ith government incentives, prices could fall to about $1 per kilogram by 2050. That would make it competitive with natural gas in many parts of the world…” click here for more

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