The transition from fossil fuels to renewable energy is inevitable. It will happen whether we act or not. Fossil fuels are, by definition, finite. You are a unique gift to mankind. Long before they are physically exhausted, we will have moved away from them to renewable energy sources simply for cost reasons.
So the question is, will we make this transition from fossil fuels to renewable energy on our own terms, in a way that maximizes the benefits for us today and for future generations, or will we turn around and bear the economic and social impacts . As has often been the case in the past, this will lead to rising prices and volatility in the market.
Of course, by turning to the sun, wind, and other renewable energy sources today, we mitigate a variety of ills that plague us as we burn more and more fossil fuels. By eliminating fossil fuels, we also eliminate air pollution and the social disruption caused by their extraction, refining and burning. We also eliminate greenhouse gas emissions.
If we act on our own terms today, we can benefit from the energy transition now and in the future. Today we are creating the new industries and new jobs that we will need in the future. We benefit now by creating a sustainable future for our children and grandchildren.
Fortunately, renewable energy sources are more plentiful and more evenly distributed around the world than fossil fuels. There is more than enough renewable energy to meet our current and future needs. Even the poorest nations on earth are rich in renewable resources and in sufficient quantities to lift their people out of poverty.
Why set a 100% goal?
In the end, 100% renewable energy is the ultimate goal. However, you can never get there if you don't know where you are going. Setting a clear goal to eventually achieve a state where 100% of its energy comes from renewable sources tells everyone from academia to business and industry to politicians and all citizens alike that this is the way forward we are we are going
Intermediate goals are helpful posts on the way to 100%. They can tell us how far we've come and how far we have to go. They can be the yardstick by which we measure our progress. Interim targets can also be used to discuss the pace of the energy transition. If we achieve our goals earlier than expected, they may not have been as ambitious as they could have been and we will have to set more aggressive goals later.
100% renewable energy is still a reality today
It is often overlooked or simply forgotten that the first industrial revolution was powered by 100% renewable energy. Only at the end of the 19thaIn the 20th century, fossil fuels began to overtake renewable energy in developed countries around the world.
Today there are communities across Europe and North America celebrating their recent transition to 100% renewable energy in their power supply. There is a growing movement among local and regional governments to use 100% renewable energy for their energy needs. Most of these communities are in Europe, but there are also some in North America.
What will limit the transition rate
No single region, nation or continent will have the same abundance of all renewable resources, whether wind, solar, hydroelectric or geothermal. However, they will all have a mix of relatively abundant renewable resources. Unfortunately, not all renewable technologies are at the same technological and economic maturity level. Some renewable energy sources cost more than others.
The resource mix chosen will partly determine the pace and cost of the energy transition. Relatively immature resources such as tidal or wave power will take much longer to develop at scale and cost more than relatively mature technologies such as wind or solar power.
The speed at which renewables penetrate the energy supply depends as much on the cost of the various technologies desired as it does on the amount of money society is willing to invest. Investing more in the short term allows regions or countries to transition more quickly than they would otherwise.
the economic case
Investments in renewable energy are primarily investments in long-term price stability. Fossil fuels are suffering from general cost increases and high price volatility. While most focus solely on the monetary price of fossil fuels, several studies have shown that it is fossil fuel price volatility that hurts economies the most. Renewable energy sources, because they have little or no fuel cost, offer fixed and, more importantly, predictable costs over the many decades that renewable generators will be in operation. While renewable energy appears more expensive than fossil fuels in the short term, it is a hedge against future uncertainty in fossil fuel prices. On long-term average, most renewables are cheaper than fossil fuels today, taking into account long-term price increases and price volatility.
Fossil fuels are generally less plentiful than renewable energy sources. Like mineral resources, fossil fuels are highly concentrated geographically. In today's fossil fuel economy, regions that do not have their own fossil fuel wealth must import fossil fuels from other regions. The fossil fuel importer sends its wealth out of the region to pay for its imports. As a result, the importer loses the ability to keep its assets circulating in the region, adding value to the local economy and directly benefiting citizens.
Build political will
Switching to 100% renewable energy is a political decision, not a technical one. The necessary technologies and knowledge are available today. The choice is easy. Do we switch or not?
In this case, the problems become more complex. How fast do we switch? What policies do we use? Which technologies do we want? Which do we prefer? Which combination of technologies works best?
Whatever decisions we make, the public, whether as consumers or as citizens, must be an integral part of the decision. Since the citizens have to pay and live with these decisions, they should be given the opportunity to participate in the energy transition. The public will only embrace the large-scale economic and landscape transformation required to move to 100% renewable energy if they have the opportunity to own and directly benefit from renewable energy development in their community.
Public opinion strongly supports the energy transition, and through local involvement in renewable energy development, the public will provide the unbiased support that policymakers need to make 100% renewable energy the law of the country. Political support from citizens will be absolutely necessary to face the well-founded resistance of the industries that stand to lose the most in this transition: the coal, oil and gas industries.
Design policies that work
After three decades of developing renewable energy around the world, we know which strategies work best, which are fairer and which are more cost-effective.
Of the three energy-using sectors (electricity, heat and transport), we have the most experience of policies that have triggered a boom in renewable energy development. In electricity policy, the feed-in tariff has proven to be the most popular, most successful and most equal policy. Feed-in tariffs allow anyone from homeowners or farmers to multinational conglomerates to connect their renewable generator to the grid and receive a fixed price for their electricity for a set period of time.
call to action
The transition to 100% renewable energy is happening in communities and regions around the world. Although it is an inspiration for everyone, it is not enough.
We know what to do. We know what works and what doesn't. The choice is clearer than ever.
The energy transition will happen with or without our involvement. But instead of putting our fate in fate's hands, we can put our future in our own hands. We can build a more beneficial future not only for ourselves but also for future generations by moving to 100% renewable energy sources as soon as possible.