Currently, the global electricity sector amount to 11 Gt of CO2 equivalent. According to a new study from German non-profit Energy Watch Group and the Lappeenranta University of Technology in Finland, that could be brought down to zero by 2050—and perhaps even sooner—through a transition to 100% renewable electricity, combined with significant energy storage.
The study, entitled Global Energy System Based on 100% Renewable Energy Power Sector, was released at the COP23 UN climate summit in Bonn, and makes the claim that not only is this transition feasible, but would actually end up costing less than business-as-usual too. According to the study’s modeling, the total levelized cost of energy would come down to 52 euros per MWh by 2050, compared to 70 euros today. And the transition would create 36 million jobs in the process too.