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Solving for Climate
Kingsmill Bond: How is the energy transition going?
Nov 7, 2024
Kingsmill Bond, an Energy Strategist at RMI and former city analyst, shares his optimistic vision for the energy transition. He argues that we peaked in fossil fuel demand a decade ago and predicts a fossil-free future in just five years. Bond challenges misconceptions around renewable costs, drawing parallels to past tech shifts. He discusses China’s leading role in electrification, the financial sector’s rapid shift toward renewables, and calls for crucial actions against climate change, including ending fossil fuel subsidies.
33:05
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Quick takeaways
- Kingsmill Bond emphasizes that we have reached peak fossil fuel demand, indicating a significant shift towards a clean energy future.
- The transition to renewable energy faces challenges but requires urgent policy changes, such as removing fossil fuel subsidies and enhancing electrification.
Deep dives
Current Status of the Energy Transition
The energy transition is in its early stages, with current estimates placing it at around mile three to five of a marathon. As of now, approximately 60% of the energy needed to generate electricity comes from fossil fuels, with the remaining 40% sourced from clean energy options. This necessitates two significant shifts: decarbonization and increased electrification across various sectors. While the current reliance on fossil fuels raises concerns, there are indications of progress as clean energy solutions are becoming more prominent within the market.
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Discover
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