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Decarbonisation is the reduction of carbon dioxide emissions using low carbon power sources, lowering output of greenhouse gasses into the atmosphere. This is essential to meet global temperature standards set by international climate agreements. To limit global warming to 1.5°C, hence avoiding the worst-case scenarios predicted by climate science, the world economy must rapidly reduce its emissions and reach climate neutrality within the next three decades. This will not be an easy journey. Shifting away from carbon-intensive production will require a historic transformation of the structure of our economies. Written by a team of academics linked to the European think tank Bruegel, The Macroeconomics of Decarbonisation provides a guide to the macroeconomic fundamentals of decarbonisation. It identifies the major economic transformations, both over the long- and short-run, and the roadblocks requiring policy intervention. It proposes a macroeconomic policy agenda for decarbonisation to achieve the climate goals of the international community.
This chapter first illustrates the fundamental characteristics of nuclear energy, by outlining: (i) The history of nuclear energy; (ii) The current key technological aspects of nuclear energy; (iii) The key global trends in nuclear energy production; (iv) The prospects for its future potential use. It then outlines the security and geopolitical risks related to nuclear energy, also with a focus on the cases of Iran and North Korea.
This chapter provides the fundamentals of the relation between energy and climate change, presenting: (i) The scientific evidence that climate change is occurring; (ii) How human use of energy resources contributes to climate change; (iii) How current patterns in global energy use are expected to affect future levels of greenhouse gas emissions. It then outlines the current and expected future impacts of climate change, and presents strategies that can be followed to both mitigate and adapt to the worst expected impacts. To conclude, the chapter discusses the global institutional process to respond to climate, including successes and remaining challenges.
This chapter introduces the reader to the main global energy issues. It starts by illustrating the fundamental role of energy in modern societies, and it continues by outlying the key energy challenges facing the globe as a result of rising demand for energy. Among these, particular attention is devoted to climate change, energy access in developing countries and energy security.
This chapter illustrates the strategic importance of energy efficiency in the built environment and in industrial and agricultural sectors. It discusses the major energy end-uses within the various sectors, and outlines the types of technologies that can improve efficiency. It describes the barriers that energy efficiency implementation faces, and outlines the strategies and policies to overcome them. The chapter also underlines the synergisms that can occur by integrating energy efficiency with distributed energy strategies, and the strategic importance of creating decentralized options for accessing electricity, heating, and cooling.
This chapter first illustrates the fundamental characteristics of coal, including: (i) History of coal; (ii) Where coal resources are currently located across the globe; (iii) Technological aspects of coal exploration, production and transport; (iv) Global coal production, consumption and trade trends. It then outlines the environmental issues associated with the utilization of coal in electricity generation and heating. To conclude, the chapter outlines the social and political issues related to the phase-out of coal.
This chapter looks at the global characteristics of renewable energy use, focusing on traditional renewable energy sources such as bioenergy, hydropower, and geothermal. For each technology option, the chapter outlines the fundamental technological aspects and the key global production and consumption trends. By doing so, the chapter also assesses the cost dimension of the various sources, by presenting the evolution of global levelized costs of electricity in the last decade.
This chapter first illustrates the fundamental characteristics of natural gas, including: (i) History of natural gas; (ii) Where natural gas resources are currently located across the globe, also with a focus on the difference between conventional and unconventional resources; (iii) Technological aspects of natural gas exploration, production, and transport; (iv) Global natural gas production, consumption, and trade trends. It then outlines the characteristics of natural gas markets in different regions of the world, and how they differ from oil markets. To conclude, the chapter discusses the geopolitical issues associated with access to natural gas.
This chapter starts by outlying the key characteristics of oil use, including: i) The history of oil; ii) Where oil resources are currently located across the globe, also with a focus on the difference between conventional and unconventional resources; iii) Technological aspects of oil exploration, production and transport; iv) Global oil production, consumption and trade trends. It then analyses the geopolitical issues associated with oil, including: i) How changes in the locations of oil supply could affect global security; ii) How changes in the locations for oil demand could affect global security; iii) The current “chokepoints” in transporting oil supply to users, and how their risks could be addressed.
This chapter focuses on modern renewable energy sources such as solar, wind, and marine energy. For each technology option, the chapter outlines the fundamental technological aspects and the key global production and consumption trends. By doing so, the chapter also assesses the cost dimension of the various sources, by presenting the evolution of global levelized costs of electricity in the last decade. The chapter also discusses the applicability of renewables to both centralised and distributed power systems, and outlines the importance of digital technologies in facilitating the integration of variable renewable energy sources into the grid. The chapter concludes with an outline of the barriers to renewable energy implementation and of the strategies to address them.
This chapter looks at the major energy-related problems facing Africa, including costs, environmental pollution, social inequities, and infrastructure challenges. It provides an understanding of the major challenges of energy poverty, including: (i) The problem of lack of access to electricity, options to address this problem, strategies and policies to implement these options, and examples where the problem has been addressed; (ii) The problem of dependence on dirty cookstoves for major energy needs, options to address this problem, strategies and policies to implement these options, and examples where the problem has been addressed. The chapter also looks at the potential for African countries to leapfrog traditional energy sources and infrastructure to distributed renewable energy systems and innovative transportation systems.