Lima – There is a global revolution underway in the electricity sector, led by wind and solar. The two technologies are transforming the way we produce and consume energy, which is good news for the climate: wind and solar will prevent the emission of 3,800 million tons of CO2 each year by 2030, and it could be much more with the right policy and market framework.
"We have the technology to solve a big part of the climate problem. What we need now are the political will and leadership necessary to create a sustainable energy future - and to do it in time to save the planet", said Steve Sawyer the CEO of GWEC.
The power sector is responsible for more than 40% of all carbon dioxide emissions, and about 25% of our total greenhouse gas emissions. The science is clear that emissions need to peak and decline in this decade to meet climate protection goals, and one focus has to be the power sector. Wind and solar power's scalability, speed of deployment and plummeting costs make them the ideal choice to bring about the early emissions reductions which are required if we are to have a chance to keep global mean temperature rise to 2°C or less.
"Prices of wind and solar have dropped dramatically in the past few years thanks to rapid technology development and scale up, and this trend will continue. Both technologies are already competing directly with heavily subsidised conventional sources in many markets around the world. Wind and solar are key for a low-carbon power system," stated Jeremy Leggett on behalf of EPIA.
Policy recommendations to facilitate the energy revolution
- Aggressive emission reduction targets;
- A phase out of fossil fuel subsidies
- An effective price on CO2 emissions
- Functioning electricity markets that accurately value wind and solar, as well as clean air and water