The aim of this analysis is purely to calculate an investment cost of providing several regions of the developing world with 100% renewable electricity, and to compare those amounts with the gross concentrated wealth of the world’s richest individuals, in order to highlight the need for economic and climate justice.
This report has analysed in detail the entire costs of continuing to rely on fossil fuel energy up to 2050, compared to switching to 100% renewables. It uses the International Energy Agency’s (IEA) World Energy Outlook 2014 (WEO 2014) as the base data set underlying this analysis. It finds that overall, the cost to society of the 100% renewables option is cheaper than continued fossil fuel dependence. For while renewable power may be more capital-intensive than fossil fuel power, which also has ongoing fuel costs. The savings in avoided fuel costs pay off the higher upfront investment in renewables. This report is the technical report that supports Friend of the Earth International’s summary report with recommendations and general analysis, also entitled ‘An energy revolution is possible’.