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A new study released by the International Energy Agency (IEA) shows that renewable energy, and particularly wind energy, must dominate the electricity generation sector in a sustainable energy future.
The report ‘Energy Technology Perspectives', released in Tokyo today, shows two alternative futures compared with the unsustainable ‘business as usual' scenario. The most ambitious ‘BLUE scenario' calls for a 50% reduction in CO2 emissions by 2050. The IEA's biennial publication responds to the G8 call for guidance on how to achieve a clean, clever and competitive energy future. The IEA report acknowledges that wind power, along with energy efficiency and fuel-switching will play the major role in reducing emissions in the power sector in the next 10-20 years. The BLUE scenario forecasts that wind energy will produce over 5,000 TWh of electricity per year by 2050, accounting for up to 17% of global power production. Over one third of the resulting CO2 savings will be achieved in China and India. The scenario estimates annual investment costs of 1.1 trillion USD per year (about 1.1% of global GDP) up to 2050. However, it clearly states that this cost is more than offset by fuel savings for coal, oil and gas over the same period.
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