![]() ![]() Carbon capture equipment extracts carbon dioxide from power plants or other industrial sources. We do not need carbon capture and storage or use, direct air capture storage or use, blue hydrogen, new nuclear power, or bioenergy. So, if we have almost all that we need, why do we need “miracle technologies” being proposed ad nauseam to solve these problems? We also need to address non-energy emissions as well, but we know how to do that, as well. The ones we don’t have include long-distance aircraft and ships and some industrial technologies, but we know how to transition those technologies. What is more, we have 95% of the technologies we need to solve the problem. The new system may also create over 28m more long-term, full-time jobs than lost worldwide, and may require only about 0.53% of the world’s land for new energy – less than the land required for the current energy system. However, due to the $11tn annual energy cost savings, the payback time is less than six years. The worldwide upfront capital cost of such a 2050 WWS system is around $62tn. Adding health and climate cost savings gives an overall 92% reduction in annual social cost (which is the energy plus health plus climate cost) relative to a conventional system. On top of that, a WWS system reduces the cost per unit energy by another 12% on average, resulting in a 63% lower annual energy cost worldwide. There are five reasons for the reduction: the efficiency of electric vehicles over combustion vehicles, the efficiency of electric heat pumps for air and water heating over combustion heaters, the efficiency of electrified industry, eliminating energy needed to obtain fossil fuels and uranium, and some efficiency improvements beyond what is expected. Worldwide, in fact, the energy that people use goes down by over 56% with a WWS system. The biggest reason a WWS system is low cost is that it uses much less energy than does a combustion-based energy system. When combined with electricity storage, heat storage, cold storage and hydrogen storage techniques to encourage people to shift the time of their electricity use (demand response) a well-interconnected electrical transmission system and nifty and efficient electrical appliances, such as heat pumps, induction cooktops, electric vehicles and electric furnaces for industry, WWS can solve the ginormous problems associated with climate change at low cost worldwide. ![]() WWS includes energy from the wind (onshore and offshore wind electricity), the water (hydroelectricity, tidal and ocean current electricity, wave electricity, geothermal electricity and geothermal heat), and the sun (solar photovoltaic electricity, concentrated solar power electricity and heat, and direct solar heat). Given the magnitude of these problems and the urgency of a solution to them, it is no surprise that the best solution is one that can be implemented quickly and at low cost.
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