Shift to Renewables Unstoppable
A new report from the International Energy Agency (IEA) has said the global shift to renewables is unstoppable. However, they have specified that emissions are at dangerous levels that wouldn’t prevent global temperatures from exceeding the key threshold of 1.5°C. Additionally, investments in fossil fuels need to be halved if this temperature increase is to be limited.
There has been a significant uptake of renewables across various countries, as well as support for consumers to transition to electric vehicles and heat pump technology. The IEA was quick to praise countries for promoting low carbon technologies and incentives to reduce more polluting means of heating and transportation.
An impressive increase of EVs was cited. Where 1 in 25 cars were electric in 2020, this is now 1 in 5. The popularity of electric cars has risen dramatically, and their uptake can only increase when infrastructure becomes widely and readily available. In order to help keep air clean, EVs are widely regarded as the solution. With no exhaust emissions, traffic can become much cleaner.
Fossil Fuel Investment
While the IEA report acknowledged that some oil and gas projects will continue to play a role in the economy at a global scale, they suggested that current investment in fossil fuels is at least double what it ought to be. Going further, the report highlighted the dangers of the nuance behind justifying new oil and gas licences. Consumers are more sceptical now than ever of claims that oil and gas offers safety and security for the world’s energy.
This is perhaps a direct criticism of the UK Government’s decision to greenlight the Rosebank oil field off the coast of Scotland, as well as Rishi Sunak’s decision to grant over a hundred new oil and gas licences. Despite the Prime Minister’s insistence that drilling and refining oil and gas within the UK will help with energy security, this has been debunked by many. Any fossil fuels gathered in these areas are sold on the world market, doing nothing to bring down energy bills.
Championing Low Carbon Options
There’s no denying that the appetite for low carbon solutions and renewable technologies has never been bigger. Green policies and commitments are incredibly important, which is why all eyes will be on governments and world leaders attending the next COP summit at the end of November.
“The transition to clean energy is happening worldwide and it’s unstoppable. It’s not a question of ‘if’, it’s just a matter of ‘how soon’ – and the sooner the better for all of us.”
Fatih Birol – IEA Executive Director
The conference in Dubai is expected to raise serious concerns about the impact of fossil fuels and how to tackle climate change effectively. There should be talks about phasing out the unabated use of fossil fuels. Carbon capture technologies shouldn’t be relied upon, as at scale there is no proven track record of success. Instead, alternative options for winding down fossil fuel reliance and promoting renewable technologies should be sought.
Included in the IEA report was the long term solution to energy volatility and how countries can achieve energy security through the use of renewable technologies. Expansion into solar and wind is a more efficient way of reducing consumer bills and can prevent costly government support throughout winter, like the UK saw at the end of 2022.
Interested in Going Solar?
The unstoppable tide of renewables isn’t just for governments to decide. You can also make use of renewable or low carbon options at home. Solar panels can be installed to help reduce your reliance on the grid and prevent massive price hikes that we saw throughout the energy crisis that started last year.
Find out how much you’d pay for solar panels by clicking on the button below to get tailored quotes for your area.