Energy Efficiency: Avoiding Climate Change, Free Of Charge

Posted on 06. Oct, 2009 by Ross in Climate Change

Global warming can be kept to only 2ºC, and it won’t cost governments a thing!

The International Energy Agency (IEA) has released projections (PDF) of what level of annual emissions the world will produce if no action is taken, along with what action is necessary to avoid the worst effects of climate change by keeping atmospheric carbon dioxide levels to under 450 parts per million (PPM).

Despite vast investment in order to reduce carbon emissions, the IEA has calculated that the net cost of avoiding climate change is essentially zero.

Maintaining 450PPM using energy efficiency and clean energy

The single biggest slice of the action required to be taken comes from energy efficiency measures such as improved insulation, better fuel economy and energy-saving lighting. The other half of the carbon-reduction equation comes from decarbonising the energy mix through greater use of renewables, nuclear, biofuels, carbon capture and storage and increased plant efficiency.

The projected cost of the new power sources is estimated to be $10 trillion between now and 2030, by which time developed countries must have reduced emissions by 50% and developing countries such as India, China and Brazil must have capped theirs at 14% above current levels. Russia is expected to only increase emissions by 1%. Between 2020 and 2020, the IEA prescribes three times more nuclear power, four times more renewables and fourteen times more clean coal technology.

Due to the massive energy savings delivered by energy efficiency, however, the costs of brining more power stations on line will be entirely offset by lower energy use.

In the report’s foreword, executive secretary of the UN climate convention Yvo de Boer said:

The global economy does not suffer much from the costs incurred under a 450[PPM] scenario. Countries experiencing high rates of economic growth continue to do so. While the export revenues of oil-producing countries are lower than for the Reference Scenario, they are four times higher than in the past.

These results should motivate us all to step up efforts to reach an agreement with the requisite ambition… The cost of addressing climate change is manageable. The cost of not doing so is unaffordable.

Image of Yvo de Boer by World Economic Forum