29 Jun '11, 2pm

Google: Delaying Clean Energy Transition "Only 5 Years Could Leave Trillions on the Table" via @reworld

Google released an analysis of the economic impact of clean energy innovation today, modeling a variety of long-term scenarios and their influence on GDP growth, a reduction in energy costs and greenhouse gas reductions. They used McKinsey’s Low Carbon Economics Tool , which provides models to assess the macroeconomic impact of climate and energy policies. Based on our modeling, we estimate that by 2030, innovation in the modeled technologies alone could have a transformative impact on the US, adding over $155 billion per year in GDP and 1.1 million net jobs , while reducing household energy costs by $942 per year, oil consumption by 1.1 billion barrels per year, and GHG emissions by 13% relative to BAU. By 2050, annual gains in GDP increase to $600 billion, net additional jobs to 3.9 million, and emissions reductions to 55%. But delaying this “innovation arms race” by as ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2011...

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