Fossil Fuels: Undercutting Renewable Energy?

can fossil fuels undercut renewable energy

Fossil fuels, such as coal, oil, and gas, are the largest contributor to global climate change, accounting for over 75% of global greenhouse gas emissions. Despite the availability of renewable energy sources like wind, solar, and water, fossil fuels still account for more than 80% of global energy production. This is partly because renewable energy sources are intermittent, and there is currently no efficient way to store the energy they produce. However, renewable energy sources are typically cheaper than fossil fuels and emit little to no greenhouse gases. They also offer a way out of import dependency, allowing countries to diversify their economies and protect themselves from unpredictable fossil fuel price swings. As a result, many countries are transitioning to renewable energy sources, and the International Renewable Energy Agency estimates that 90% of the world's electricity can and should come from renewable sources by 2050.

Characteristics Values
Fossil fuels' contribution to global climate change Fossil fuels account for over 75% of global greenhouse gas emissions and nearly 90% of all carbon dioxide emissions
Renewable energy's impact on climate change Renewable energy sources emit little to no greenhouse gases and are readily available
Cost of renewable energy Renewable energy is the cheapest power option in most parts of the world, with prices dropping rapidly
Cost of fossil fuels Fossil fuels are vulnerable to unpredictable price swings
Fossil fuels' impact on health Fossil fuel pollution causes about 8 million deaths each year
Renewable energy's impact on health Renewable energy helps address air pollution and health issues
Fossil fuel job market Fossil fuel industry is expected to lose over 6 million jobs by 2030
Renewable energy job market Renewable energy sector is expected to add about 9 million jobs by 2030
Energy storage for renewables Battery storage solutions for renewable energy are improving but face challenges in storing large amounts of energy for long periods
Political barriers to renewable transition Transition to renewable energy is hindered by political barriers and lobbying power of fossil fuel companies
Timeframe for renewable transition A full transition to renewable energy will take significant time, with estimates ranging from decades to a century

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Fossil fuels are the backbone of the electricity system

Fossil fuels, such as coal, oil and gas, are the largest contributor to global climate change, accounting for over 75% of global greenhouse gas emissions and nearly 90% of carbon dioxide emissions. Despite this, fossil fuels still account for more than 80% of global energy production. This is because fossil fuels are the backbone of the electricity system, generating 64% of today's global electricity supply.

The transition to an all-renewable energy system is not a simple task. Fossil fuels are energy-dense, making them fit-for-purpose in transport and electricity generation. For example, oil is so energy-dense that little of it is needed to generate electricity, whereas 63% of coal produced worldwide is used for electricity generation. In contrast, renewable energy sources such as solar and wind power are diffuse, meaning that they require modern technology to convert their energy flows into electricity.

Furthermore, solar and wind power are intermittent and cannot provide reliable 24/7 baseload power. This means that fossil-fuelled generators are often needed to provide power when the sun isn't shining or the wind isn't blowing. While batteries can help to store energy for later use, there is currently no technology that can efficiently and economically store the vast amount of energy required for extended periods.

However, renewable energy sources are gaining ground. In 2019, wind and solar energy represented 62% of all new generating capacity in the US, while coal-fired plants were retired at a record pace. Additionally, solar and wind technologies are becoming increasingly cost-competitive with fossil fuels, with prices dropping rapidly. For example, the cost of electricity from solar power fell by 85% between 2010 and 2020, and lithium-ion battery storage systems saw price declines of up to 85% between 2010 and 2018.

The transition to renewable energy is gaining momentum, and it is clear that renewable energy sources can effectively replace fossil fuels. However, fossil fuels still form the backbone of the electricity system, and overcoming the technical and political challenges associated with transitioning to a fully renewable energy system will take time.

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Renewable energy is naturally replenished

The Earth receives ample energy from the sun, even for our modern, energy-intensive lifestyles. The challenge is that this solar energy is diffuse, and we need technology to concentrate it for practical use. Wind turbines and solar photovoltaic (PV) cells have emerged as efficient solutions, converting solar energy into electricity much more efficiently than burning biomass.

The transition to renewable energy sources is gaining momentum, with solar and wind technologies rapidly becoming more cost-competitive. Between 2010 and 2020, the cost of electricity from solar PV fell by up to 85%, while onshore and offshore wind energy costs decreased by 56% and 48%, respectively. This has led to significant cost savings, with emerging economies expected to save USD 156 billion by transitioning to renewables.

Renewable energy sources are also advantageous because they can be deployed more rapidly than fossil fuel plants. Solar and wind farms typically take less than two years to construct, while gas-fired power plants can take up to four years and often require additional infrastructure.

However, one challenge with renewable energy sources is the need for reliable baseload power when the sun isn't shining or the wind isn't blowing. While batteries are becoming more cost-competitive for energy storage, they cannot yet efficiently and economically store the vast amounts of energy required for extended periods. As a result, fossil fuel-generated power is still needed to fill these gaps, particularly from natural gas plants, which can be ramped up and down efficiently.

Despite this challenge, renewable energy sources can effectively replace fossil fuels, offering crucial environmental, social, and economic benefits. The transition is already underway, and with continued momentum and strong policies, we can expedite the move towards a cleaner and more sustainable energy future.

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Clean energy jobs are expected to grow

This transition to renewable energy is creating numerous job opportunities. For example, the International Renewable Energy Agency (IRENA) estimates that renewable energy jobs worldwide could more than triple, reaching 42 million by 2050. In addition, the United Nations estimates that transitioning to net-zero emissions will result in a net gain of 9 million jobs in the energy sector, with 14 million new jobs in clean energy. The growth in clean energy jobs is already evident, with the U.S. Department of Energy (DOE) reporting that clean energy jobs grew by 142,000 in 2023, more than twice the rate of overall U.S. employment growth.

The clean energy sector offers a diverse range of job opportunities, not just for scientists and engineers, but also in construction, skilled trades, manufacturing, maritime work, logistics, and clean energy technology. For instance, Ørsted has committed USD 23 million to prepare U.S. workers for offshore wind projects, which are expected to create 80,000 direct jobs and thousands of indirect jobs.

Furthermore, the DOE's Office of Energy Efficiency & Renewable Energy (EERE) is working to boost the American workforce by supporting non-traditional training partnerships and expanding outreach to raise awareness of job opportunities in the energy sector. The Biden-Harris Administration's investments in climate, clean energy, and manufacturing are also contributing to the growth of clean energy jobs, with the private sector announcing major investments in American-made energy.

Overall, the shift towards renewable energy is not only crucial for addressing climate change but also for driving economic growth and creating well-paying, stable jobs in the clean energy sector.

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Fossil fuels cause air pollution and health issues

Fossil fuels, such as coal, oil, and natural gas, are the largest contributor to global climate change, accounting for over 75% of global greenhouse gas emissions and nearly 90% of all carbon dioxide emissions. The burning of fossil fuels releases harmful substances into the atmosphere, causing air pollution and significant health issues.

The combustion of fossil fuels produces hazardous air pollutants, including sulfur dioxide, nitrogen oxides, particulate matter, carbon monoxide, and mercury. These pollutants have severe environmental and health impacts, affecting both ecosystems and human well-being. For example, air pollution from fossil fuels can cause acid rain, eutrophication, crop and forest damage, and adverse effects on wildlife.

The health consequences of air pollution from fossil fuels are extensive. Globally, fossil fuel pollution is responsible for one in five deaths, with approximately 8 million deaths attributed to it annually. In the United States alone, 350,000 premature deaths in 2018 were linked to fossil fuel-related pollution, particularly in states like Pennsylvania, Ohio, and West Virginia. The health issues associated with fossil fuel pollution include asthma, cancer, heart disease, and premature death. The combustion of additives in gasoline, such as benzene, toluene, ethylbenzene, and xylene, releases cancer-causing ultra-fine particles and aromatic hydrocarbons, further exacerbating the health risks.

The impacts of fossil fuel pollution disproportionately affect certain communities, including communities of color, low-income communities, and children. Black and Hispanic Americans are exposed to significantly higher levels of particulate matter pollution. Additionally, children, especially those from underprivileged backgrounds, bear a disproportionate burden of disease and developmental impairments due to environmental pollution and climate change caused by fossil fuel combustion. The combustion of fossil fuels has been linked to an increased incidence of babies born preterm or with low birth weight, cognitive and behavioral disorders, mental health problems, asthma and other respiratory illnesses in children.

To address these health and environmental concerns, a transition to renewable energy sources is imperative. Renewable energy sources, such as wind, solar, water, waste, and geothermal heat, emit little to no greenhouse gases or pollutants. While there are challenges in fully replacing fossil fuels with renewables, integrating renewable energy sources can significantly contribute to carbon reduction and improving air quality. Additionally, the development of energy storage systems, such as lithium-ion batteries, can enhance the efficiency of renewable energy deployment and further reduce the reliance on fossil fuel backup.

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A transition away from fossil fuels is already in progress

Fossil fuels, such as coal, oil, and gas, are the largest contributor to global climate change, accounting for over 75% of global greenhouse gas emissions and nearly 90% of all carbon dioxide emissions. To avoid the worst impacts of climate change, emissions need to be reduced by almost half by 2030 and reach net-zero by 2050.

The cost of renewable energy technologies is also dropping rapidly. The cost of electricity from solar power fell by 85% between 2010 and 2020, while the cost of onshore and offshore wind energy fell by 56% and 48% respectively. These falling prices make renewable energy more attractive, especially to low- and middle-income countries, where most of the additional demand for new electricity will come from.

In addition, employment in the renewable energy sector is expected to continue growing. The IRENA estimates that the number of renewable energy jobs worldwide could more than triple, reaching 42 million by 2050. In contrast, the fossil fuel industry is projected to lose over 6 million jobs over the same period.

While a full transition to renewable energy will not happen overnight, the momentum around the issue is growing. Global efforts like the Fridays for Future movement, spurred on by young activists like Greta Thunberg, have put pressure on governments to commit to identifying competitive alternatives to fossil fuels.

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Frequently asked questions

Renewable energy sources emit little to no greenhouse gases and are readily available and, in most cases, cheaper than coal, oil or gas. They also reduce the number of deaths caused by fossil fuel pollution, which the UN claims is about 8 million per year.

Renewable energy sources such as solar and wind farms need fossil-fueled generators as a backup when the sun isn't shining or the wind isn't blowing. There is currently no technology that can efficiently and economically store the energy required for the length of time needed.

The future of renewable energy is promising, with solar energy in particular seeing increased adoption globally. The International Renewable Energy Agency estimates that 90% of the world's electricity can and should come from renewable sources by 2050. However, a full transition from fossil fuels to renewable energy will take significant time and effort, with some estimates placing the minimum time frame for a complete transition at a century.

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