On the economic side of the energy transition, sufficient flow of private investment in renewables and storage technologies needs to be ensured for a smooth, fast and cost-effective transition to 100% renewable energy..
The urgency of energy transition continues to be underestimated, resulting in short-sighted decisions such as expanding investment in oil and gas exploration and coal-fired power generation.
These 3D energy conversion effects are being applied to render any damage harmless and convert it to useful energy, and are also being applied widely to deal with the Fukushima nuclear power plant accident.
Since Germany implemented the energy transformation strategy, the proportion of nuclear energy has been declining, and the proportion of renewable energy supported by a stable coal power has risen rapidly.
The stress test considered the effects of four“severe but plausible energy transition scenarios” on Dutch banks, insurers and pension fund over a five-year period.
Critically, without bolder measures that go beyond existing energy transition policies, the world will very likely fail to meet the objectives of the Paris accord.
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