A new report from FoE International looks at what it would cost to power the world with renewables. The report, An Energy Revolution Is Possible, released on Tuesday, estimates that it would take $5,148 billion of extra investment to generate half the world’s electricity with 100 per cent renewables by 2030.
To put it in perspective, FoE points out that this is an investment equal to the wealth currently held by 0.00001% of the global population, or 782 people.
“We recognise that many parts of the developing world may, and should, leapfrog transmission grids altogether, opting for energy independence with local renewable generation and storage in microgrids, particularly in rural areas and on small islands.”
A summary of the report is in Sophie Vorrath’s report on RenewEconomy.
