According to the Rocky Mountain Institute (RMI), the growth of renewables is on an exponential trajectory, which has significant implications that are often underestimated. The latest findings from the International Energy Agency (IEA), which highlight the rise of renewables and the peaking of oil demand, further emphasize the urgency of this transition.
The Naysayers and Their Excuses
The clean energy transition faces its fair share of skepticism and resistance. Detractors, pessimists, and companies seeking to protect their polluting businesses come up with a range of excuses: “Wind and solar require too much land. We don’t have enough critical minerals. The transition to clean energy will be too costly.” The list goes on and on.
The Philosophy of Applied Hope
RMI has always maintained an optimistic outlook, championing the philosophy of Applied Hope inspired by co-founder Amory Lovins. Applied Hope acknowledges the challenges of achieving net zero emissions by 2050 to mitigate the worst impacts of climate change, but also recognizes the rapid advancements in technology and policy in recent years. RMI’s research reveals that the global shift towards clean electricity and electric vehicles is happening at an exponential rate.
The Power of Exponential Growth
Encouragingly, the International Energy Agency’s recent report validates this perspective, dispelling many misconceptions surrounding the clean energy transition. Most of the perceived barriers can be overcome. When envisioning the future of energy, it is crucial to anticipate the continued exponential growth of clean technologies rather than assuming a stagnant status quo.
The Myth-Busting Findings
The IEA’s latest Net Zero Roadmap debunks ten prominent myths that perpetuate misinformation about the energy transition. These myths are misleading society and hindering progress. It is essential to confront and address them head-on.
Furthermore, the IEA’s 2023 update to the Net Zero Roadmap enthusiastically embraces the prospect of a net zero future, considering it increasingly plausible in a warming world. The report acknowledges the remarkable exponential growth and cost declines of renewable technologies. RMI’s research aligns with these findings, particularly in the rapid expansion of solar power, batteries, and electric vehicles.
