The Decline of Renewable Energy

The world is stalled in developing renewable energy. Countries have invested more than $1 trillion over the last decade in developing renewable energies, which represent about 13 percent of all world energy in 2011 – about the same share as in 1971 – explains Bjørn Lomborg for Project Syndicate. “The vast majority comes from biomass, or wood and plant material – humanity’s oldest energy source,” he writes, pointing out the world has spent much of the last century abandoning renewables. Lomborg urges investment in green research and development that emphasizes cost reduction of renewables. He points to an unsubsidized trend in China that places solar water heaters on roofs, which produce “50 times more energy than all of China’s solar panels.” Lomborg concludes, “When green renewables are cheaper than fossil fuels, they will take over the world.” – YaleGlobal