Wind Energy › Challenges
According to the International Energy Agency (IEA), fighting global warming is going to cost more than $45 trillion to halve carbon emissions by 2050, but the failure to take action would be a disaster as it would cost the world more than 20% of global GDP every year to fight famine, disease, rising sea levels and so forth.
The Kyoto Protocol and later on, the Copenhagen Agreement has been created in order to set binding obligations on the industrialised countries to reduce their emissions of greenhouse gases in order to fight “global warming”. The European Union, for instance, committed target is to produce 20% of its energy consumption from renewable energy by 2020.
Experts expect demand for electricity to boom by about 50% by 2030 mainly driven by growing world population and increasing urbanization in China and India.