NewEnergyNews: New Forecast Of Costs For Fighting The Climate Crisis

NewEnergyNews

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YESTERDAY

THINGS-TO-THINK-ABOUT WEDNESDAY,:

  • TTTA Wednesday-ORIGINAL REPORTING: California’s Rooftop Solar Supports Questioned
  • TTTA Wednesday-The Transportation Electrification Policy Fight Goes On
  • THE DAY BEFORE

  • Monday Study – The Everywhere Drive To Modernize The Grid
  • THE DAY BEFORE THE DAY BEFORE

  • Weekend Video: Carbon Offsets Go Wrong
  • Weekend Video: Russia Uses Electricity As A Weapon In Europe
  • Weekend Video: Wildfires Are Driving Firefighters Nuts (No Joke)
  • THE DAY BEFORE THAT

  • FRIDAY WORLD HEADLINE-New Records For New Energy
  • FRIDAY WORLD HEADLINE-Russian NatGas Started The War In 2021
  • THE LAST DAY UP HERE

    THINGS-TO-THINK-ABOUT WEDNESDAY, May 11:

  • TTTA Wednesday-ORIGINAL REPORTING: Automated Customer Grid Services Coming In California
  • TTTA Wednesday-The Energy Transition’s Grid Modernization Marches On
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    Founding Editor Herman K. Trabish

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    Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

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  • FRIDAY WORLD, May 20:
  • Europe’s New Energy Transition Accelerating
  • New Energy Still The Best Buy

    Friday, January 28, 2022

    New Forecast Of Costs For Fighting The Climate Crisis

    McKinsey: fundamental transformation of global economy needed for net zero; $9tn of annual investment required to avoid most catastrophic climate impacts, consultancy says

    Damian Carrington, 25 January 2022 (UK Guardian)

    “…$9.2tn will need to be invested every year for decades to limit the global temperature rise to 1.5C and end the climate emergency... [According global consultant McKinsey, that] is a 40% increase on current investment levels and equivalent to half of global corporate profits…[The vitally needed] economic transformation will affect every country and every sector, with those most reliant on fossil-fuel-burning experiencing the most change…[T]he transition will be front-loaded with, for example, the cost of electricity rising before falling later…[but there will be low-carbon investment opportunities that] lead to a lower-cost, more efficient economy…

    …[T]he transformation becomes more expensive the longer action is delayed…[and this] front-loaded transformation raises a ‘critical question’ of who will pay and whether higher costs of electricity, steel and cement are passed on to people or whether those on low-incomes are protected by governments…[I]nvestment in energy, transport, buildings, industry and agriculture would need to rise by $3.5tn, with an additional $1tn of today’s spending switching from high-carbon to low-carbon goods, such as electric cars and heat pumps…

    …[The cost’s percent of GDP start at] 6.8%, rising to as much as 8.8% between 2026 and 2030 before falling…[E]lectricity costs could rise by 25% by 2040 before falling below today’s levels after 2050, because of the lower operating cost of renewable energy. Steel and cement face cost increases of about 30% and 45% respectively…” click here for more

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