The Californer - How Solar Can Play a Role in Climate Change

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LOS ANGELES - Californer -- Solar power plants can offer can have a positive impact on climate change. As green technology continues to emerge as a growing force, several strong industry clusters have emerged with varying levels of investment as innovation trends emerge and change. The United Nations Environment Program (UNEP) breaks the industry into wind, solar, biofuels, biomass, small hydro, geothermal and marine. The UNEP breaks down global investing by United States, Brazil, the Americas (excluding U.S. and Brazil), Europe, Middle East & Africa, China, India and ASOC (excluding China and India).

According to the International Renewable Energy Agency, solar energy, together with energy efficiency, forms the cornerstone of the world's mitigation strategy. It represents a safe, reliable, affordable and immediately deployable pathway to a low-carbon future that can achieve over 90 percent of the energy-related CO2 emission reductions needed to meet climate goals. "The deployment of renewable technologies can stimulate new economic activity by creating jobs, mitigating stranded assets and giving rise to cleaner, healthier environments," said Michael Megarit, a partner at Cebron Group (http://www.cebrongroup.com/). The benefits deriving from energy transformation significantly outweigh its costs. In economic terms, the cost savings resulting from improved human health, lower air pollution and avoided environmental damage by 2050 equal up to five times the additional investment needed to make the transition. Renewable power could cover up to four-fifths of global electricity supply by 2050 – drastically reducing carbon emissions and helping to mitigate climate change, explains Megarit.

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Around two-thirds of GHG emissions stem from energy production and use, which puts the energy sector at the core of efforts to combat climate change. The largest CO2-emitting sectors are electricity generation and industry, together responsible for approximately 65% of all energy-related CO2 emissions today. The remaining 35% comes from transport, buildings and district heating. Renewable energy sources play a role in providing energy services in a sustainable manner and in mitigating climate change.

The heavy reliance on fossil fuels and inefficient and outdated coal-fired power plants are one of the main reasons for the energy sector's high contribution to global greenhouse gas emissions. This not only elevates global temperatures but seriously impacts air quality and human health. Transitioning to renewable energy, therefore, supports significant progress on fighting climate change.

Renewable energy as a whole plays an important role in reducing greenhouse gas emissions. When renewable energy sources are used, the demand for fossil fuels is reduced. Renewables don't deplete natural resources. They also reduce water consumption, noise and waste, are less harmful to the land, and improve air quality.

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Michael Megarit is a partner with Cebron Group (http://www.cebrongroup.com/), a global investment firm that offers alternative credit solutions and equity capital to corporations and partnerships in emerging markets.