The clean energy revolution starts at home
Over 260 years ago, coal spurred the industrial revolution and hurtled society into the one we recognise today. Fast forward to the year 2019 and there are still over 1400 active and operational coal plants around the world. Then, the invention of the automobile in the 1920’s reignited the need for petroleum and the oil barons appeared. In 2017 Forbes measured that the world’s top 25 oil producers generated $73 billion in profit in a single year, that’s more than the GDP of 137 nations.
Through the continued use of both these fossil fuels, and in little more than two centuries, we have increased the concentration of CO2 to 400 parts per million (ppm), an amount that is more than 40% higher than the pre-industrial average of 280 ppm. Once carbon dioxide is in the atmosphere, it stays there for thousands of years. This is important since research shows that the last time the Earth reached similar levels of CO2, also coincided with a time when there were no ice caps and sea levels were about 25 meters higher. Scientist and author Bill McKibben, who has spent the last 30 years studying climate change, explains that the earth can only cope with the release of another 565 gigatons of carbon emissions before hitting the catastrophic point of no return. Meaning there is simply no place for fossil fuels in our modern world and we don’t have much time to get rid of them either. This adds up to 17 years, or to the year 2036, by which point we will have exceeded the 2 degree warming limit, if our current CO2 emission levels stay the same.
The good news is that we are at the brink of a new energy revolution. Clean energy or renewable energy is being driven by a combination of policy, market forces, new technology and consumer action. The cost of both wind and solar energy have reduced drastically over the last ten years and will continue to do so. In the next year renewable energy will be cost competitive with fossil fuels, and in some places it already is. Market forces are literally shifting, and investors are realising the future for the oil and coal industry is looking bleak. Last year alone, investors shed $6.2 trillion from fossil-fuel stocks. The state of New York announced that it will be decarbonising its pension-fund investments and Ireland was the first nation to announce that it will divest all of its €8 billion worth of coal, oil, gas and peat assets over the next 5 years. Whilst investors are now looking to clean energy industries in search of profits, an estimated $2.9 trillion has already been invested into renewable energy technologies and projects since 2004 which has created over 10 million jobs globally.
Now the bad news; unfortunately the current rate at which we are adding clean energy is about 151 megawatts per day, which means it would take us 363 years to get to a point where we are cutting emissions fast enough. That’s much longer than the 17 years we currently have, which means we cannot rely on market forces alone. As consumers, we wield a lot of power, the question is whether we use it and how.
Make 2019 the year you aggressively commit to renewable energy. For your home, choose to go with a renewable energy provider. Solar, wind and hydro energy are clean and most importantly they are renewable alternatives to fossil fuels. All three of these energy sources are becoming increasingly cost effective. Sadly in recent years, Americans’ willingness to increase their electricity bill by $10 dropped down to only $5 a month even if it “solved,” global warming, a Harvard and MIT study confirmed. Find out if your existing energy provider already offers renewable energy packages. If not, shop around using energy comparison websites, to understand what types of renewable energy providers are available in your local area. Some communities are taking things into their own hands by setting up local energy co-operatives. Last year in Great Britain, there were 220 local schemes operating with 188 MW of capacity, enough to power 130,000 homes. Ask around in your local area to see if any local schemes exist or do your own research to find out how feasible it is to start your own.
At work, investigate whether your workplace uses renewable energy or is planning to use clean energy in the near future. More and more companies are making a proactive choice to switch. Use facilities like employee satisfaction surveys to voice your concerns, if you feel comfortable, speak directly to your manager, HR team or operations department. The EPA in the U.S. publishes several Green Power Partnership lists, which recognise companies and a wide variety of organisations that are already using renewable energy sources. You can use the EPA list, or other regional or country based lists to support your argument, when speaking with your employer. Students you are not exempt here, educational institutions should be at the forefront of embracing renewable energy. Many universities already are and some are doing a great job of integrating renewable energy research into the curriculum. Environment America recently published an excellent resource for moving your campus to 100% renewable energy. Speak to your classmates and faculty members to find out where your school is getting its energy from and take action where necessary.
Lastly check your investments, whether its stocks or your pension, do some research to find out if your provider allows you to choose your own funds. Divestment from fossil-fuels is happening globally. More and more studies are being done to compare different divestment approaches and the results are generally positive, meaning that fossil fuel portfolios do not outperform their divested counterparts. You can also use tools such Fossil Free Funds, to find out if any of your funds and money are being used to extract coal and petrol. If they are not, then the best thing you can do is to write to your pension provider asking them when they will be able to offer such an option, the Guardian even provides a handy template. It looks like the big oil companies are starting to take notice too, Shell announced in its last annual report that divestment “could have a material adverse effect on the price of our securities and our ability to access equity capital markets”.
Don’t get me wrong, there is a lot to do in 17 years, and it won’t happen unless each and everyone of us take some level of personal responsibility. Hopefully this article has inspired you to take small steps towards a more sustainable future, and if it’s not these particular levers then there are plenty of others options. Did we mention electric cars, reducing your red meat consumption, or eliminating single-use plastics?
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