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A professor at Stanford University and his team released a report saying that phasing out fossil fuels and running the world with clean energy would pay for itself in less than seven years
.
The Mark Jacobson, a professor from Stanford University, said in a study published Friday in the journal One Earth that retrofitting power grids, transportation, manufacturing and other systems to enable 100 percent renewable energy operations such as wind, solar and hydroelectric power, including energy storage capacity that has reached day and night use, would cost $73 trillion, the report found, but this would be offset by annual savings of nearly $11 trillion, which would take about 7 years
.
Jacobson, who co-authored the study, along with several other researchers, said that "there really isn't
any downside to making this shift.
" Most people worry that this is
too expensive.
Hopefully, this alleviates some fears
.
”
But some of Jacobson's past findings have been questioned, notably a 2017 journal article criticizing his approach to measuring the cost
of phasing out fossil fuels.
The biggest challenge in ditching fossil fuels may not be economic.
Even some clean energy advocates acknowledge that there is no technology available to run the grid
entirely on renewable energy without compromising reliability.
Jacobson's report, released Friday, surveyed 143 countries that account for more than
99 percent of global greenhouse gas emissions.
The savings will come from the other benefits
of not extracting fossil fuels, using a more efficient system, and switching entirely to electricity.
Prior to that, Jacobson published a paper in 2015 outlining plans for a gradual transition to 100 percent renewable energy in the U.
S.
through
statehood.
A professor at Stanford University and his team released a report saying that phasing out fossil fuels and running the world with clean energy would pay for itself in less than seven years
.
The Mark Jacobson, a professor from Stanford University, said in a study published Friday in the journal One Earth that retrofitting power grids, transportation, manufacturing and other systems to enable 100 percent renewable energy operations such as wind, solar and hydroelectric power, including energy storage capacity that has reached day and night use, would cost $73 trillion, the report found, but this would be offset by annual savings of nearly $11 trillion, which would take about 7 years
.
Jacobson, who co-authored the study, along with several other researchers, said that "there really isn't
any downside to making this shift.
" Most people worry that this is
too expensive.
Hopefully, this alleviates some fears
.
”
But some of Jacobson's past findings have been questioned, notably a 2017 journal article criticizing his approach to measuring the cost
of phasing out fossil fuels.
The biggest challenge in ditching fossil fuels may not be economic.
Even some clean energy advocates acknowledge that there is no technology available to run the grid
entirely on renewable energy without compromising reliability.
Jacobson's report, released Friday, surveyed 143 countries that account for more than
99 percent of global greenhouse gas emissions.
The savings will come from the other benefits
of not extracting fossil fuels, using a more efficient system, and switching entirely to electricity.
Prior to that, Jacobson published a paper in 2015 outlining plans for a gradual transition to 100 percent renewable energy in the U.
S.
through
statehood.
