Switching to Renewable Energy Could Save Trillions

By Arshan Chowdhury, Staff Reporter, The Pawprint

Switching from fossil fuels to renewable energy could save the world as much as $12tn (£10.2tn) by 2050, an Oxford University study says.
The report’s findings are based on examining historical price data for renewable energy, fossil fuels and modeling potential future developments.

Fossil fuel data go back over 100 years as of 2020 and show prices have not changed significantly after accounting for inflation and market volatility.

“Our latest research shows scaling-up key green technologies will continue to drive their costs down, and the faster we go, the more we will save,” says Dr Rupert Way, the report’s lead author from the Smith School of Enterprise and the Environment.