How to Save $23 Trillion Per Year: 100% Renewable Energy for the World

The plan, developed by Stanford professor Mark Jacobson would:

  1. Replace 80% of business-as-usual power by 2030, and 100% by 2050
  2. Reduce power consumption by 42.5% because of electricity’s better work:energy ratio, efficiency, and lack of mining needed
  3. Create 24.3 million more jobs than lost
  4. Eliminate 3.5 million premature air pollution deaths per year and save $23 trillion (7.6% of GDP) in air pollution health costs per year by 2050 (for comparison: the World Bank estimated in 2016 that air pollution in 2013 killed 5.5 million people, with non-health care costs of over $5 trillion)
  5. Save $28.5 trillion per year in avoided climate change costs by potentially keeping global warming less than 1.5°C above pre-industrial levels
  6. Reduce war by creating energy-independent countries
  7. Decentralize energy production, thereby reducing power outages, terrorism threats to energy installations, and energy poverty

While the total cost is very large ($125 trillion for 139 nations), the savings would exceed costs in just a handful of years.

Source: How to Save $23 Trillion Per Year: 100% Renewable Energy for the World | Category 6™