Renewables Lage And Threaten Global Warming Goals
The Global Energy Monitoring reported that renewable energy’s contribution to the total is insufficient to meet the global goals of COP28. According to Semafor, “The world’s richest countries—which together account for about 45% of global GDP—host just one-tenth of all utility-scale solar and wind projects currently under construction, a contribution dwarfed by that of China, researchers warned.”
China’s Status
It does not appear that the richest countries are on the right path. Despite its success, China continues to use coal, particularly in conjunction with solar energy. Under the new administration, the US is turning away from renewables and toward fossil fuels. India’s use of fossil fuels is absolutely essential to its rapid GDP growth.
The richest nations have also effectively dropped their plans to provide capital to emerging nations to help them reduce greenhouse gas emissions. One goal of COP29 was “Triple finance to developing countries, from the previous goal of USD 100 billion annually, to USD 300 billion annually by 2035.” The US may totally cut that funding.
Government Funding
Renewable growth usually relies on private-sector funding and government grants. In the US, at least renewable funding is often considered risky.
Finally, the AI server farm’s need for electricity may actually increase the use of fossil fuels over the years it takes enough renewable energy to get online.
Sponsor
Find a Vetted Financial Advisor
- Finding a fiduciary financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 financial advisors that serve your area in 5 minutes.
- Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals!
More from ClimateCrisis 247
- US Electricity Threatened By Tariffs
- Putin Could Hurt Major US Oil Companies
- Fossil Fuels Winning Over Green Energy
- US Solar Industry In Big Trouble
