Interview Times 
BHUBANESWAR: Energy plays a central role in the climate challenge, being both a major contributor to global greenhouse gas emissions and a crucial component in the solution. Burning fossil fuels for electricity and heat is responsible for over 75% of global greenhouse gas emissions and nearly 90% of carbon dioxide emissions. To prevent the worst effects of climate change, emissions must be reduced by nearly 50% by 2030 and reach net-zero by 2050. Transitioning away from fossil fuels to clean, renewable energy sources is essential to achieving these targets.
The Case for Renewable Energy
Renewable energy sources, such as solar, wind, hydro, and geothermal, are abundant and replenished by nature. They emit little to no greenhouse gases or pollutants, making them crucial for reducing global emissions. Currently, fossil fuels account for more than 80% of global energy production, though cleaner energy sources are making significant inroads. As of now, renewable sources provide about 29% of the world’s electricity. Accelerating the transition to renewable energy is vital for a healthier, more sustainable planet.
Five Reasons to Accelerate the Transition to Clean Energy
1. Renewable Energy is Ubiquitous
Around 80% of the global population resides in countries that are net importers of fossil fuels, leaving them vulnerable to geopolitical disruptions and price volatility. Renewable energy sources, on the other hand, are available in all countries, offering a path to energy independence. According to the International Renewable Energy Agency (IRENA), renewables could supply 90% of the world’s electricity by 2050. By reducing dependency on imported fossil fuels, countries can enhance their energy security, stimulate economic growth, and reduce poverty.
2. Renewable Energy is Economically Advantageous
The cost of renewable energy technologies has dropped significantly. Between 2010 and 2020, the cost of solar power decreased by 85%, while onshore and offshore wind energy costs fell by 56% and 48%, respectively. As prices for renewables continue to fall, they are becoming the most cost-effective energy option in many regions. Renewable energy could supply 65% of the world’s electricity by 2030 and decarbonize 90% of the power sector by 2050. Despite recent cost increases due to commodity and freight prices, renewables remain competitively priced compared to fossil fuels.
3. Renewable Energy Promotes Health
Air pollution from burning fossil fuels contributes to severe health problems. The World Health Organization reports that 99% of people worldwide breathe air that exceeds safety limits, leading to over 13 million deaths annually from environmental causes. Fossil fuel-related air pollution costs approximately $2.9 trillion each year. Shifting to clean energy sources like wind and solar can alleviate air pollution, improving public health and reducing related healthcare costs.
4. Renewable Energy Creates Jobs
Investing in renewable energy generates significantly more employment opportunities compared to fossil fuels. For every dollar spent on renewables, three times more jobs are created than in the fossil fuel sector. The transition to net-zero emissions is expected to create a net gain of 9 million jobs by 2030, with an additional 16 million positions needed in related industries. This includes jobs in manufacturing, electric vehicles, and new technologies like hydrogen. Ensuring a just transition will be crucial to support workers and communities affected by the shift away from fossil fuels.
5. Renewable Energy Makes Economic Sense
In 2022, fossil fuel subsidies amounted to about $7 trillion, including direct subsidies, tax breaks, and environmental damage costs. In contrast, investing approximately $4.5 trillion annually in renewable energy until 2030 is essential to achieving net-zero emissions by 2050. Although the initial investment may be high, the long-term benefits include reduced pollution and climate impacts, which could save up to $4.2 trillion per year by 2030. Renewables also offer a more resilient energy system, less vulnerable to market shocks and better equipped to ensure energy security.
The transition to renewable energy is not only a crucial step in addressing climate change but also a pathway to economic growth, health improvement, and energy security. By investing in clean, sustainable energy sources, we can create a healthier planet, generate new jobs, and build a more resilient energy infrastructure. The shift towards renewables is not just an environmental necessity but also a practical and economic imperative for the future.
