173 Trillion Dollars of Investment Required for Zero Carbon Emissions Target

BloombergNEF's annual long-term scenario analysis New Energy Outlook 2021 report on the future of the energy economy has been published. Presenting three climate scenarios that include the Paris Agreement and targets for net zero carbon emissions by 2050, the report requires $173 trillion in energy transition investment to achieve the best prospects. According to Ali Aydın, General Manager of Ülke Energy, who stated that there is a lot of work for wind and solar energy, especially in order to reduce emission levels by 2030% compared to 2019 in 30, more than three quarters of the effort to reduce emissions in the next nine years will be implemented by wind and solar energy faster. points out that it depends on the purchase.

The Road to Zero Carbon: 173 Trillion Dollars!

In order to reach net zero carbon by 2050 with an orderly transition, sector-by-sector emission budgets must be established. Together, global energy-related emissions would need to fall 2050% below 2030 levels by 2019 to reach net zero by 30, while substantial investments are needed to bring wind and solar power to 85% of primary energy supply. For this reason, Ali Aydın, drawing attention to the budgets in the latest report of BNEF, states that the total investment in energy supply and infrastructure is estimated to be between 92 trillion and 173 trillion dollars in the next thirty years. Stating that to achieve this, more than twice the annual investment in energy will be needed, Aydın said, “For these investments, which will rise from approximately 1,7 trillion dollars a year today to somewhere between 3,1 trillion dollars and 5,8 trillion dollars on average in the next thirty years, financing will be provided. and that bureaucratic assistance should definitely be provided.

2030 GW of Wind Power Per Year Required By 505

Moving towards net zero carbon emissions by 2050 means using commercially available abatement technologies in every industry this decade. Stating that more than three quarters of the effort to reduce emissions in the next nine years depends on the faster distribution of wind and solar energy, Ali Aydın draws attention to the information that 2030 GW of wind energy should be installed every year until 505, which is emphasized in the report, in order to be on the way to reach net zero by the middle of the century. At the same time, Aydın reminded that the EU Commission wants 55 GW of installations per year until 55 for the "Fit-for-2030" package specific to the 30% carbon emission target, and therefore believes that Turkey should increase its investment in renewable energy sources. The state's orientation towards renewable energy sources, the signed environmental agreements, the increase in future energy demand, the acceleration of investments as technologies develop and the increase in energy prices show that Turkey should also turn its direction towards clean and renewable resources such as wind and solar.