Energy plays a central role in the climate crisis with fossil fuels being a major contributor to greenhouse gas emissions. The crisis is two-fold. Rising energy costs are resulting in energy insecurity and food poverty globally as the agriculture industry grapples with soaring costs and a drop in fertiliser production.
The science is clear. Emissions need to be reduced by almost 50% by 2030 to reach net-zero by 2050 and avoid the worst impacts of climate change. The importance of energy independence and its role in ensuring net-zero and lowering household bills has led to the creation of the Department for Energy Security and Net Zero in February 2023.
Renewable energy offers the path to a safer future by achieving net-zero by 2050 and bolstering energy security. Investing in green energy will remove the UK’s reliance on foreign energy imports.
Clean energy has more to offer than just its green credentials. The renewable energy sector is booming, leading the way with new jobs, and building a resilient electricity grid by investing in energy storage. Developing our renewable energy capacity will reduce domestic energy bills and expand access to developing countries.
Green Switch Capital is working with thousands of landowners to develop a sustainable, self-reliant energy infrastructure to power a safer future.
Energy and Climate Change
Energy sits at both ends of the climate crisis as the most affected industry and the key to achieving net-zero. Burning fossil fuels to generate heat and electricity is largely responsible for the greenhouse gas emissions causing changes in weather patterns and temperatures, resulting in climate change.
Almost 90% of carbon dioxide emissions and over 75% of greenhouse gas emissions globally come from fossil fuels. Switching to renewable energy is the best solution to tackling climate change and reducing our reliance on fossil fuels.
The only way to avoid the worst consequences of climate change is by reducing emissions by almost half by 2030. It’s an ambitious goal but a vital road marker in achieving net-zero by 2050. Renewable energy offers an accessible, affordable, clean, reliable, and sustainable alternative to fossil fuel.
Unlike fossil fuels, renewable energy is infinite and readily available around us, emitting little to no greenhouse gas. While the UK is breaking records for its renewable energy production, fossil fuels continue to account for over 80% of global energy production. Less than 30% of electricity in 2021 was powered by renewable energy.
Renewable Energy and the Cost of Living Crisis
Skyrocketing energy prices have fuelled the current cost-of-living crisis, increasing prices of everything from heating your home to the cost of your weekly grocery shop. Renewable energy offers a more affordable solution and a means of tackling the dual food and energy security crisis. The cost of solar and wind power has drastically increased over the last decade as infrastructure costs have lowered. The International Renewable Energy Agency estimates that the cost of solar power electricity fell by over 80% from 2010 to 2020, making it one of the cheapest energy options. The cost of onshore and offshore wind fell by roughly 50% within the same period.
The affordability of renewable energy means it ticks all the boxes – tackling climate change and the cost of living crisis in one. The reduction in the cost of developing green energy infrastructure means its accessible for low-income countries that also require renewable energy solutions. The expansion of renewable energy in the last decade means we’ve never had as much access to low-carbon power.
Green energy has the potential to meet 65% of the world’s electricity demands by the end of this decade. Hitting this milestone could lead to a 90% decarbonised power industry by 2050, mitigating the worst consequences of climate change. The most renewable energy we utilise, the more affordable our household energy bills will be.
Solar and wind power now compete against fossil fuels as an affordable and clean energy solution that can help tackle inflation and get the cost of living under control.
The Economic Case for Renewable Energy
There’s also an economic case for how renewable energy can power a safer future, including for the jobs we do. Investment in renewable energy creates three times more jobs than the same level of investment in fossil fuel.
While the decline of fossil fuels will lead to job losses within the industry, almost three times more jobs will be created in the new ‘green’ sector. The IEA estimates that investment in renewable energy will lead to a net gain of 9 million jobs. Manufacturing in other industries related to green energy, including electric vehicles, is estimated to create an additional 30 million jobs by 2030.
Although intensive investment is required to nurture the green energy industry, the reduction in greenhouse gas emissions and mitigation of climate change is estimated to save the world over $4 trillion a year by 2030.
Renewable energy can power a safer future by stabilising the economy with an energy system less likely to be impacted by geo-political affairs with a resilient infrastructure that provides energy security.
Creating a Greener, Safer Future
Investing in renewable energy can power a safer future by mitigating the impact of greenhouse gas emissions and pollution on our health. The World Health Organisation (WHO) estimates that 99% of people currently breathe air that poses a threat to their health. 12 million deaths occur per year due to what’s described as “avoidable environmental causes”, including air pollution.
Switching to renewable energy will have a positive impact on every aspect of our lives – from reducing our household energy bills to tackling climate change and creating a safer planet for us to call home.
Green Switch Capital is working with hundreds of landowners to power a safer future with a sustainable, self-reliant energy market. We’ve already invested over £350 million in renewable diversification, putting the UK on the path to achieving net-zero by 2050.
Contact our team today to work with us to power a safer future and find out more about our land-leasing programme.