The cost of waiting

‘‘We should be using nature’s inexhaustible sources of energy — sun, wind and tide. I’d put my money on the sun and solar energy. What a source of power!’’ — Thomas Alva Edison.

Renewable green energy includes innovative uses of solar power, wind power, kite power, electric vehicles and bicycling to make a positive impact, rather than passively relying on coal-based technologies, which increase the risk of environmental harm in the second half of this century unless we change now.

Climate action is cheaper than climate inaction. Solar PV module prices have fallen 80% since 2008, wind turbines 29%.

Wind power is the cheapest electricity option in most places. Achieving substantial reductions in temperatures relative to the coal-based system will depend on some mix of conservation, solar, wind, nuclear and possibly carbon capture and storage.

Economic efficiency points to the urgent need to reduce CO2 and other greenhouse gas emissions, now rather than later. Waiting is not economically costly but will make the transition more expensive when it eventually takes place.

Current research suggests the most efficient and effective policy is to raise the cost of CO2 emissions substantially, either through cap-and-trade or carbon taxes, to provide appropriate incentives for businesses and households to move to low-carbon alternatives.

Each of us must do our part for the sake of future generations and the survival of our endangered planet.

CHARLES FREDERICKSON