Mercator Research: Global climate transition will be cheaper than expected
Post date: 25/09/2023 - 12:07
According to a study led by the Berlin-based Mercator Research Institute on Global Commons and Climate Change (MCC), the global climate transition could be implemented at lower cost than previously assumed, thanks to the price development of solar power and storage. Solar power generation has become 87 percent cheaper over the past decade, while storing energy in batteries has become 85 percent cheaper.
The research team, according to an MCC release, »concludes that a good quality of life can be achieved with significantly less energy input.« There are already calculations that »even suggest that the world’s entire energy consumption in 2050 could be completely and cost-effectively covered by solar technology and other renewables,« says Felix Creutzig, head of the MCC's Land Use, Infrastructure and Transportation working group and lead author of the study. »This is an extremely optimistic scenario – but it illustrates that the future is open. Climate science, which provides policymakers with guidance in its scenario models, must reflect technical progress as closely as possible. Our study is intended to provide input for this.«