By 2050 the world is going to use 50 percent more energy than it does today. It means that energy becomes more affordable and reliable, which leads to increase the quality of life. On the other hand about 1 billion people don’t feel this progress, because they still live without basic power services. These services run production and schools, light cities, move cars and trucks. Thanks to abundant energy the poverty rate has decreased twice during the last 25 years, millions of people have got the chance to enhance their lives.
In fact, the growing use of energy has disadvantages as well. Most of the energy is gained from fossil fuels, which lead to greenhouse gases and climate change. The only way to significantly lower carbon emissions is switching to sources that do not emit carbon.
Today we have the renewable technologies like solar and wind. They have been developed much and can be one option to a zero-carbon emitters. At the same time, a lot of various paths must be explored, which means that new approaches must be invented. Private firms will eventually improve these energy achievements, however, their work depends on different researches, which can be funded only by governments.
There are two serious endeavours to develop new sources, which are efficient and don’t exude greenhouse gases. Mission Innovation supports an obligation to make more investments in clean energy researches. This commitment is signed by more than ten countries. The second one is the Breakthrough Energy Coalition, an international group of investors who contribute to organisations and enterprises, that use innovative ideas to produce clean energy.
These initiatives discuss specific plans on budgeting and coordinate researches to avoid duplicating attempts.
In the United States, for example, the funding of the Department of Energy for key researches has increased by $300 million and will increase more the next year. That means, that more clean-energy innovations will reach the market.
Moreover, a group of members of both the Senate and House of Representatives has confirmed that investments in research and development create a basis for innovation, so they have decided to continue increasing research and development financing.
More steps will be made to accelerate the process of innovation. For example, Breakthrough Energy Coalition will hire experts in the clean energy science. The investment decisions in this area must be confirmed by the fundamental science. Besides, the association brings together people who can create prosperous companies in various environments. So the investors will use their networks and business experience accumulated over years to aid the companies.
The International Energy Agency claims that by 2020 the people will receive twice as much of clean energy as it did in 2012. It is a breathtaking statement, and many funds and organisations work hard toward it. There are a lot of initiatives to make the new generation of carbon-free energy more acceptable, efficient and safe. Investors and government leaders show how the private and public sectors can cooperate to work on global issues.
- Ackerman, F. and J. Daniel (Mis)understanding Climate Policy: The Role of Economic Modelling, England, Wales, Northern Ireland, and WWF-UK, Cambridge, USA, 2014.
- Anger, A. and T. Barker. Finance and the Macroeconomics of Environmental Policies: The E ects of the Financial System and Financial Crises on Global Growth and the Environment, Palgrave Macmillan, Basingstoke, UK, pp. 153-193, 2015.
- Bose, T.K., Uddin, M.R. and Mondal, A. Impacts of Electricity Access to Rural SMEs, International Journal of Managing Value and Supply Chains (IJMVSC), 4(4), pp. 17-28, 2013.
- Chancel, L., G. Thiry and D. Demailly. Beyond-GDP Indicators: to What End?, Institut du Développement Durable et des Relations Internationales, Paris, France, 2014.
- Decourt, B., et al. Hydrogen-Based Energy Conversion. More Than Storage: System Flexibility, SEI (SBC Energy Institute), Paris, 2014.
- EC. A Policy Framework for Climate and Energy in the Period from 2020 up to 2030, European Commission, Brussels, Belgium, 2014.
- Hamilton, T. Geothermal industry reaches out to out-of-work oil drillers, Corporate Knights, 2015.