Powering a Safer Future
What is Renewable Energy?
Renewable energy comes from natural resources that are replenished faster than they are consumed. Examples include sunlight and wind, which are continuously available and abundant. These sources of energy are widely distributed and sustainable.
In contrast, fossil fuels—such as coal, oil, and gas—are finite resources that take millions of years to develop. When burned for energy, they release harmful greenhouse gases like carbon dioxide, contributing to environmental degradation.
Renewable energy production results in significantly fewer emissions compared to fossil fuels. Shifting away from fossil fuels, which are responsible for the majority of global emissions, is essential for tackling climate change.
In many countries, renewable energy is now more cost-effective than fossil fuels and also creates three times as many jobs.
Here are a few common sources of renewable energy:
Solar Energy
Solar energy is the most abundant resource on the planet and can still be harnessed on overcast days. The amount of solar energy reaching the Earth is approximately 10,000 times greater than the total energy consumed by humanity.
Solar technologies can provide heating, cooling, lighting, electricity, and even fuels for various uses. These technologies convert sunlight into electrical energy either using photovoltaic panels or mirrors that concentrate solar rays.
While some countries have more solar potential than others, every nation can significantly integrate solar power into its energy mix.
Over the past decade, the cost of producing solar panels has dropped sharply, making them not only affordable but often the most cost-effective source of electricity. With a lifespan of around 30 years, solar panels are available in various shades, depending on the materials used in their construction.
Wind Energy
Wind energy captures the kinetic energy of moving air through large turbines, which are either located on land (onshore) or in bodies of water (offshore). While wind power has been utilized for thousands of years, modern wind energy technologies have advanced significantly, featuring taller turbines and larger rotor blades to increase electricity generation.
Although wind speeds vary greatly depending on location, the global potential for wind energy far exceeds current electricity demands, with many regions having sufficient wind resources to support widespread wind power development.
While some areas benefit from strong winds, the most optimal locations for wind farms are often in remote regions. Offshore wind, in particular, presents a vast, untapped resource for clean energy production.
Geothermal Energy
Geothermal energy taps into the Earth’s internal heat, extracting it from geothermal reservoirs through wells or other methods.
Naturally hot and permeable reservoirs are known as hydrothermal reservoirs, while those that require enhancement through hydraulic stimulation are referred to as enhanced geothermal systems (EGS).
Once brought to the surface, geothermal fluids at different temperatures can be used to produce electricity. The technology for generating power from hydrothermal sources is well-established and has been in use for over a century, proving to be both reliable and efficient.
Hydropower
Hydropower generates energy by utilizing the movement of water from higher to lower elevations. It can be produced from both reservoirs and rivers. Reservoir-based hydropower plants depend on stored water, while run-of-river plants use the natural flow of rivers to generate power.
In addition to energy production, hydropower reservoirs often serve multiple purposes, such as providing drinking water, irrigation, flood and drought control, and navigation services.
As the largest renewable energy source in the electricity sector, hydropower typically relies on stable rainfall patterns. However, it can be adversely affected by climate-induced droughts and changes to ecosystems that influence rainfall.
The infrastructure for hydropower can also have negative effects on local ecosystems. As a result, small-scale hydropower is often seen as a more environmentally friendly alternative, particularly well-suited for remote communities.
Bioenergy
Bioenergy is derived from various organic materials, collectively known as biomass, such as wood, charcoal, manure, and agricultural crops. These materials are used to produce heat, power, and liquid biofuels. In rural areas of developing countries, biomass is primarily used for cooking, lighting, and heating, particularly by low-income communities.
Modern bioenergy systems utilize dedicated crops, forestry residues, and organic waste streams to generate energy. While burning biomass releases greenhouse gases, the emissions are lower compared to fossil fuels like coal, oil, or gas.
However, bioenergy should be applied selectively, as large-scale biomass production can lead to environmental issues such as deforestation and changes in land use.
This is Our Future
Energy production is a major contributor to climate change, with fossil fuels like coal, oil, and gas responsible for over 75% of global greenhouse gas emissions. To prevent severe climate impacts, emissions must be halved by 2030 and reach net-zero by 2050. This requires ending reliance on fossil fuels and investing in clean, renewable energy sources such as solar, wind, and geothermal, which emit little to no greenhouse gases. Although fossil fuels still dominate global energy production, renewables currently account for 29% of electricity, and the transition to clean energy is crucial for a sustainable future.
Here are five reasons why accelerating the shift to clean energy is essential for ensuring a healthy, livable planet for current and future generations:
1. Renewable Energy Sources are All Around Us
Around 80% of the global population lives in nations that rely heavily on imported fossil fuels, leaving about 6 billion people vulnerable to geopolitical disruptions. In contrast, renewable energy resources are accessible worldwide and hold untapped potential. The International Renewable Energy Agency (IRENA) projects that 90% of global electricity could come from renewable sources by 2050. Embracing renewables can reduce dependency on imports, mitigate the impact of volatile fossil fuel prices, and foster economic growth, job creation, and poverty reduction.
2. Renewable Energy is Cheaper
Renewable energy is now the most cost-effective power option in many regions, with rapid price declines. Between 2010 and 2020, solar power costs dropped by 85%, while onshore and offshore wind energy costs fell by 56% and 48%, respectively. These falling costs make renewables increasingly appealing, especially to low- and middle-income countries where new electricity demand is growing. By 2030, renewable sources could supply 65% of global electricity and decarbonize 90% of the power sector by 2050, significantly reducing carbon emissions and aiding climate change mitigation. Despite temporary cost increases in 2022 and 2023 due to high commodity and freight prices, renewables remain competitive as fossil fuel prices rise, according to the International Energy Agency (IEA).
3. Renewable Energy is healthier
According to the World Health Organization (WHO), nearly 99% of people worldwide are exposed to air pollution levels that jeopardize their health, contributing to over 13 million deaths annually from avoidable environmental causes, including air pollution. Fine particulate matter and nitrogen dioxide, which primarily result from fossil fuel combustion, are major contributors to this issue. In 2018, the health and economic costs of air pollution from fossil fuels were estimated at $2.9 trillion, or about $8 billion per day. Transitioning to clean energy sources like wind and solar can mitigate both climate change and air pollution, leading to improved public health
4. Renewable Energy Creates Jobs
Investing in renewable energy generates three times more jobs than investments in fossil fuels. The International Energy Agency (IEA) projects that transitioning to net-zero emissions will boost energy sector employment significantly. While around 5 million fossil fuel jobs might be lost by 2030, approximately 14 million new jobs in clean energy are expected, resulting in a net increase of 9 million jobs. Additionally, energy-related industries will need another 16 million workers for roles in electric vehicle manufacturing, energy-efficient appliances, and emerging technologies like hydrogen. Overall, this transition could create over 30 million jobs in clean energy, efficiency, and low-emission technologies by 2030. Ensuring a fair transition that considers the needs and rights of all individuals will be essential to ensure inclusivity.
5. Renewable Energy Makes Economic Sense
In 2022, approximately $7 trillion was spent subsidizing the fossil fuel industry, covering explicit subsidies, tax breaks, and unaccounted health and environmental damages. In contrast, an estimated $4.5 trillion annually needs to be invested in renewable energy through 2030 to achieve net-zero emissions by 2050. Despite the high initial cost, renewable energy investments will be beneficial, potentially saving up to $4.2 trillion annually by 2030 through reduced pollution and climate impacts. Additionally, efficient and reliable renewable technologies can enhance energy security and resilience by diversifying power supply options, making systems less vulnerable to market fluctuations.
Our Future Starts Now
In 2021, four crucial climate change indicators—greenhouse gas concentrations, sea level rise, ocean heat, and ocean acidification—hit new records, underscoring the severe impact of human activities on our planet. The primary solution to this crisis is to move away from fossil fuels, the leading cause of climate change.
UN Secretary-General António Guterres highlights that renewable energy technologies like wind and solar are already available and often cheaper than fossil fuels. He emphasizes the urgent need to deploy these technologies at scale and speed. Guterres also outlines five essential actions needed to transform our energy systems and accelerate the shift to renewables, stating that a future without renewables is not viable.
Five ways to jump-start the renewable energy transition now:
1. Make Renewable Energy Technology a Global Public Good
To make renewable energy technology a global public good, it is crucial to ensure that it is accessible to everyone, not just the wealthy. This involves removing barriers to knowledge sharing and technological transfer, including intellectual property rights issues. Essential technologies like battery storage systems are key, as they store energy from renewables such as solar and wind and release it when needed. These systems enhance energy flexibility by quickly absorbing and releasing electricity. When combined with renewable generators, battery storage can offer reliable and cost-effective electricity to isolated and off-grid communities.
2. Improve Global Access to Components and Raw Materials
A reliable supply of renewable energy components and raw materials is crucial for the transition to clean energy. Ensuring widespread access to essential materials, such as those required for wind turbines, electricity networks, and electric vehicles, is key. Expanding and diversifying global manufacturing capacity will require substantial international coordination. Additionally, investing in a just transition is vital, which includes enhancing skills training, supporting research and innovation, and fostering sustainable supply chains that protect ecosystems and cultural practices.
3. Level the Playing Field for Renewable Energy Technologies
Global cooperation is essential, but domestic policy reforms are also critical for advancing renewable energy projects and attracting private sector investments. Existing technology, capacity, and funds need to be supported by effective policies to reduce market risks and encourage investment. This includes streamlining planning, permitting, and regulatory processes to prevent delays and facilitate large-scale renewable projects, such as those in designated Renewable Energy Zones.
Countries must set renewable energy targets aligned with the 1.5°C goal in their Nationally Determined Contributions, aiming to increase the share of renewables in global electricity generation from 29% to 60% by 2030. Clear policies, transparent processes, public support, and modern energy transmission systems are crucial for accelerating the adoption of wind and solar technologies.
4. Shift Energy Subsidies from Fossil Fuels to Renewable Energy
Fossil fuel subsidies are a major obstacle to transitioning to renewable energy. In 2020, approximately $5.9 trillion was spent on these subsidies, including direct support, tax breaks, and unaccounted health and environmental damages, equating to around $11 billion per day. These subsidies are both inefficient and inequitable, with about half of the funds in developing countries benefiting the wealthiest 20% of the population, according to the IMF.
Redirecting subsidies from fossil fuels to renewable energy can significantly reduce emissions and foster sustainable economic growth. It also promotes job creation, improves public health, and enhances equality, particularly benefiting poorer and more vulnerable communities.
5. Triple Investments in Renewables
To achieve net-zero emissions by 2050, an annual investment of at least $4 trillion in renewable energy—covering technology and infrastructure—is necessary until 2030. While this figure is significantly lower than the annual fossil fuel subsidies, the investment will yield substantial returns. The reduction in pollution and climate impacts could save up to $4.2 trillion annually by 2030.
The necessary funding is available, but commitment and accountability are crucial. Global financial systems, including multilateral development banks and other financial institutions, must realign their lending portfolios to support the renewable energy transition. As UN Secretary-General António Guterres emphasizes, renewables are essential for achieving true energy security, stable power prices, and sustainable employment opportunities.
Partnering for a Greener Future
Transitioning to renewable energy is essential for a sustainable future. Despite the $7 trillion spent on fossil fuel subsidies in 2022, investing $4 trillion annually in renewables until 2030 is crucial for achieving net-zero emissions by 2050. This shift can save up to $4.2 trillion annually in health and climate costs, create over 30 million jobs, and enhance energy security.
To make this transition effective, we must remove barriers to technology access, streamline policies, and redirect subsidies from fossil fuels to renewables. As UN Secretary-General António Guterres emphasizes, renewables are key to achieving energy security, stable power prices, and sustainable employment.
At VEM Solutions, we are committed to driving this transition and advancing sustainable technology. By partnering with us, you can contribute to a greener future, leveraging our expertise in renewable energy solutions and innovative technologies. Together, we can accelerate the shift to a cleaner, more secure energy future.
Learn more about how we can work together for a greener future at VEM Solutions. Contact us at sg@vem-group.com to explore how VEM Solutions can support your journey toward a sustainable, zero-emission future.
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Source: United Nations