World could win climate battle with 100% renewables transition by 2050

Author: Patrick.

January 22 (Renewables Now) - A transition plan for 100% renewable energy use by 2050 that could solve the global climate crisis would cost around USD 1.7 trillion (EUR 1.49tr) per year, less than half the cost of current subsidies for fossil fuels, says a study funded by the Leonardo DiCaprio Foundation.

The research was conducted by scientists at the University of Technology Sydney, the German Aerospace Center and the University of Melbourne. It is based on data from advanced modelling with 72 regional energy grids and hourly increments through 2050 and a comprehensive assessment of available renewable resources such and wind and solar that could meet future energy demand.

The scientists explained that this is the first model that presents a roadmap towards a negative emissions world through using natural climate solutions and its cost would be significantly lower than the USD 5 trillion in subsidies that governments now allocate for fossil fuels each year. In addition to the 100% renewables transition, the plan also includes the restoration of degraded forests and other lands.

"While the renewable energy transition is imperative to solving the climate crisis, it isn't enough. As this climate model shows, in order to keep the global temperature rise to no more than 1.5°C, we have to keep our natural carbon sinks intact, scale up restoration efforts and shift to regenerative agriculture,” said Justin Winters, executive director of the Leonardo DiCaprio Foundation.

(USD 1.0 = EUR 0.880)

More stories to explore
Share this story
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription