This means that everything is becoming more and more smart, from buildings and grids to whole cities.
It’s also important to look at how renewable energy, smart infrastructure, and new business models are changing the world.
In the case of renewable energy, the world is cutting back on making electricity from coal. It’s because of this that renewable energy is growing so quickly.
An interesting debate has been going on between developed and developing countries about how strong commitments to decarbonization are stifling industrialization in the developing world, though.
It’s still a big part of China’s energy mix: coal. That’s down from 80% in 2000 and 70% in 2010, but 60% is still three times the United States’ share. It’s used to make electricity and heat homes.
Even though solar and wind are at parity with or cheaper than fuel types like coal, there is an expectation of about 50% cost decreases through 2030.
Keeping the cost of capital low is going to be important for green energy development. This will make it easier for resources to be used and protect the profits of developers.
There is a lot of science behind this change.
When you think about the price of lithium ion batteries, when Sony first came up with the battery, it cost a few thousand dollars per kilowatt hour in the late 1980s or early 1990s.
They charge $100 or so per kilowatt hour today.
Big changes in technology have made it easier for an anode or cathode to work in the lab today.
However, about 90 million cars are sold every year, and they last for about 12 years. Even if everyone wanted an electric vehicle (EV), and even if the price was the same as for traditional cars, it would still take 12 or more years for the whole fleet to be replaced.
Most people are worried about how much it costs to buy an electric car. But the math doesn’t always work the way you expect. This is partly because of the range question. At about a 250-mile range, range anxiety seems to go away, but it’s still there. For example, in order for your car to go 25 miles on a single charge, you need a very large battery. The bigger the battery, the more it costs to make one. But every year, the price drops. Scale is going up. Because I don’t think you’ll see cars with less than a 250-mile range.
Infrastructure is the last thing to think about. To keep your car ready at all times, you need to have a home-charging facility or charging infrastructure, which Tesla has built out. It’s not over yet for the other manufacturers.
There has been a lot of money being spent by old car companies to change their fleets. Most of the top 10 carmakers have set a goal for how many of their cars will be electric by the end of the decade.
If you want to buy a $30,000 car today, you could get an electric car instead. As for $20,000 cars, we’re not there yet. It will probably be another five years.
The supply chain and front-end technology have to be rebuilt as part of the transition.
Most buildings last at least 100 years, and sometimes even longer, but some last even longer. But the heating and cooling systems in those buildings, which account for about a third of all carbon emissions, are changed every 15 to 20 years. This means that the heating and cooling systems in those buildings aren’t always up to date.
Because of digitalization, the new systems do a better job and do it more quickly. There are a lot more ways you can control how much energy a building uses when sensors are put in different parts of the building and connected to an energy-controlling unit.
Costs of digitalization have dropped so much that it’s easier, even for older infrastructure, to keep up with the pace of change.
It costs about a quarter of the money to keep a building warm and cool to heat and cool it. From SEER 10 or 11 to SEER 15, you can save about 30% or 40% on your energy bill.
There’s also the cost of financing.
If you make these things more energy efficient, the cost of financing goes down because you can meet certain standards.
In time, the oil majors might get the technology they need to make their businesses work well in 2030 and 2050.
However, the cost of capital is high for them.
As a result, fossil doesn’t have a lot of money to buy new businesses with their shares or get money from a bank.
This means there isn’t a country or jurisdiction that can only deal with the two degrees Celsius scenario on its own.
If you don’t have emerging markets, you can’t get to where you want to go.
It’s not possible for the United States to get there alone.