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Fast transition to renewables will save the world up to $12tn (£10.2tn) by 2050

Switching from fossil fuels to renewable energy could save the world as
much as $12tn (£10.2tn) by 2050, an Oxford University study says. The
report said it was wrong and pessimistic to claim that moving quickly
towards cleaner energy sources was expensive. Gas prices have soared on
mounting concerns over energy supplies. But the researchers say that going
green now makes economic sense because of the falling cost of renewables.

“Even if you’re a climate denier, you should be on board with what we’re
advocating,” Prof Doyne Farmer from the Institute for New Economic Thinking
at the Oxford Martin School told BBC News. “Our central conclusion is that
we should go full speed ahead with the green energy transition because it’s
going to save us money,” he said.

BBC 13th Sept 2022

https://www.bbc.co.uk/news/science-environment-62892013

September 19, 2022 - Posted by Christina Macpherson | 2 WORLD, business and costs, renewable