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Stanford University research found that global energy consumption will decrease by 23% as the world transitions to green energy.

2017-09-27

A Stanford University study found that global energy consumption would decrease by 23% after the transition to green energy. Stanford University's School of Earth, Energy and Environment published a study investigating 139 countries that account for 99% of global carbon emissions, projecting their future transition scenarios based on their renewable energy resources. The study considered many factors, including electricity, transportation, air conditioning, industry, and agriculture, forestry, and fisheries. Large countries have the most space to develop renewable energy and are the easiest to transition to renewable energy power, as solar and wind power production increases with area. Smaller countries like Singapore would need to develop offshore wind power. After a complete switch to renewable energy, the costs of extraction, transportation, and refining of oil and gas would be reduced by 13% globally. Without oil, gasoline-powered internal combustion engines would cease to be used, and electric motors, due to their higher energy efficiency, would replace them, reducing global energy demand by 23%. While jobs in the oil industry would disappear after a complete transition, the number of jobs created by renewable energy would far outweigh the job losses. According to this study, 27.7 million jobs disappeared, but 52 million jobs were created, an excess of 24.3 million. Source: CSRone Sustainability Report Platform (August 26, 2017)

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