Costs of converting to a green energy economy

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Bela Liptak

Apr 30, 2024, 8:44:45 AMApr 30

 Costs of converting to a green energy economy

At the end of WW2, the grant loans of the European Recovery Program (Marshall Plan) amounted to about 5% of the American GDP. They were paid back by the end of the century and  resulted in a 25% rise in the GDP of Europe. Today the global GDP is about $100 trillion and roughly 1% of that sum would pay for decarbonizing our energy economy and thereby for keeping the global warming from exceeding about 2.0°C..


I believe that we can reach this goal, because the free market forces are already supporting our these goals, as evidenced by the continuing drop in the cost of renewable energy and by the increase in the share of green energy in the total energy mix. Green energy is also cheaper, less dangerous and quicker to deploy than renewable. This trend will continue as the cost of fossil fuels, nuclear energy  (and the costs of energy wars) will keep rising, and I am optimistic, because I believe that the coming generations will be as smart as were our stone age ancestors who switched to using bronze, not because they ran out of stone but because bronze was better. I hope that the coming generations will not follow our example, but that of our ancestors and therefore will leave fossil fuels where they are, - because green energy is better than dirty- and will also forbid using AI for unethical or harmful purposes and limit its applications to lawful ones consistent with human standards.

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