economics
Newsletter
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Reimagining energy: The rise of free solar power
A solar revolution is underway, with experts predicting that by 2030, solar power could be effectively free during daylight hours in many regions.
In short:
- Solar energy capacity saw an 80% increase in 2023, now providing nearly 6% of global electricity, with expectations to become the dominant source by the 2030s.
- The cost of solar panels has dropped dramatically, making solar the cheapest new electricity source for 95% of the world.
- The future may bring industries that adjust operations based on solar availability, with a growing focus on energy storage and transmission.
Key quote:
“The next tenfold increase will be equivalent to multiplying the world’s entire fleet of nuclear reactors by eight in less than the time it typically takes to build just a single one of them.”
— The Economist
Why this matters:
With fewer fossil fuels being burned, we could see a dramatic drop in pollution-related illnesses, cleaner air, and a significant cut in carbon emissions. The challenge now is to figure out how to harness this potential. Read more: Solving the climate crisis requires more than switching to renewables—everyone needs equal access.
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Canada imposes new tariffs on Chinese-made electric vehicles
Canada is enacting a 100% tariff on Chinese-made electric vehicles, mirroring U.S. actions taken due to China's alleged market-distorting subsidies.
In short:
- Canada announced the tariffs after discussions with U.S. national security advisor Jake Sullivan.
- Canada will also impose tariffs on Chinese steel and aluminum and may consider more tariffs on other goods.
- China condemned the tariffs as protectionist, warning of potential retaliatory actions.
Key quote:
“Actors like China have chosen to give themselves an unfair advantage in the global marketplace.”
— Justin Trudeau, Canadian Prime Minister
Why this matters:
These tariffs could escalate trade tensions between China, Canada and the U.S., impacting global markets and the electric vehicle industry. The dispute highlights ongoing concerns about China's influence on global trade.
Related:
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Wyoming hesitates to embrace solar energy despite its potential
Wyoming has the ideal conditions for solar energy, yet its development lags behind due to political and economic ties to fossil fuels.
In short:
- Wyoming receives ample sunlight, but only two utility-scale solar farms currently operate in the state.
- The state's economy and policies are heavily influenced by the coal industry, creating barriers to solar energy adoption.
- Four large solar projects are in development, potentially increasing the state’s solar capacity significantly.
Key quote:
“There is economic development happening at a really large scale in surrounding states that is much reduced here.”
— Scott Kane, solar company co-founder
Why this matters:
Expanding solar energy in Wyoming could diversify its economy, reduce dependency on coal and bring significant environmental and financial benefits to the state.
Related EHN coverage:
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Sweden shows how to slash emissions while boosting the economy
Sweden has managed to cut 80% of its emissions since 1990 while doubling its economy, proving that economic growth and climate protection can go hand in hand.
In short:
- Sweden's success comes from early investments in renewable energy, utilizing its natural resources like forests and hydropower.
- The country transitioned away from fossil fuels for heating and electricity, with biofuels now powering 97% of heating.
- Strong government policies, including a high carbon tax, incentivized businesses and citizens to adopt greener practices.
Key quote:
"The biggest lesson is that you need close cooperation between government, private sector, and the local government as well to really develop these system solutions together and take risks, make these big long-term investments."
— Asa Persson, advisor to the Swedish government on climate policy.
Why this matters:
By investing in green tech, enforcing strict environmental regulations and pushing for a circular economy where waste becomes a resource, Sweden is showing the world that you don’t have to choose between a healthy planet and a thriving economy. Read more: Steps to re-invigorate the economy must free us from polluting fossil fuels.
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Photo by Pedro Henrique Santos on Unsplash
The cultural legacy of coal mining and its relevance to renewable energy
Coal mining, while hazardous and polluting, fostered strong community bonds and cultural pride that could be emulated in the renewable energy sector.
In short:
- Coal mining in the UK has ended, leaving a significant cultural and community legacy.
- Renewable energy projects, such as wind farms, may not require as many local workers but still offer opportunities for community identity.
- Community Energy projects enable local involvement and benefits from renewable energy production.
Key quote:
“They were tough men. And they were proud of it, proud of every minute of it. It ruined people, it broke people. And one of those people was my grandad.”
— Kate Rusby, Yorkshire folk-singer
Why this matters:
Transitioning to clean energy must consider the social and cultural impacts on communities historically dependent on coal. Embracing community-driven energy projects can preserve the sense of pride and belonging once found in coal mining towns.
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Plastic Free July needs systemic change, not just consumer action
A recent analysis argues that while Plastic Free July aims to reduce plastic use, significant impact requires action from governments and companies, not just consumers.
In short:
- Individual efforts during Plastic Free July are insufficient to address plastic pollution without systemic changes.
- Governments and corporations must implement regulations and redesign production and distribution systems to reduce plastic waste.
- Effective solutions need to consider the essential roles plastics play in everyday life and avoid disadvantaging vulnerable communities.
Key quote:
"Consumers shouldn’t have to bear full responsibility for plastic pollution. Individual sacrifices – particularly temporary ones – won’t make a significant difference."
— Bhavna Middha, senior research fellow at the Centre for Urban Research, RMIT University and Ralph Horne, associate deputy vice chancellor of research & innovation at the College of Design & Social Context, RMIT University.
Why this matters:
Focusing solely on consumer action overlooks the need for comprehensive policies and industry accountability to create lasting environmental change. Addressing plastic pollution effectively requires broad, systemic reforms that protect both the environment and vulnerable populations. Read more: A plastic recipe for societal suicide.
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Credit: COP26/Karwai Tang/Flickr
Who funds conservative climate groups
A surprising coalition of philanthropists, including liberal donors, is supporting conservative climate change initiatives to foster bipartisan solutions.
In short:
- Philanthropic donors like the Gates' Breakthrough Energy Foundation and the MacArthur Foundation are funding both liberal and conservative climate groups.
- Conservative groups such as Citizens for Responsible Energy Solutions and the American Conservation Coalition are receiving millions to promote market-based and innovation-driven climate solutions.
- Funders aim to engage Republicans in the climate fight, believing a bipartisan approach is essential for long-lasting climate policies.
Key quote:
“We have been adamant about trying to be nonpartisan but recognizing we do need to be thinking about other political constituencies, other communities and really as broad as we can when we think about equity.”
— Mijo Vodopic, head of the climate program at the MacArthur Foundation
Why this matters:
This funding strategy seeks to unite diverse political perspectives, ensuring comprehensive climate action that can withstand political changes, thereby improving health outcomes and environmental sustainability. Read more: Flood survivors find common ground in a divided nation.
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