The world is now in the early stages of an energy revolution that over the next few decades could be as momentous as the emergence of oil-and electricity-based economies a century ago. Double-digit market growth, annual capital flows of more than $100 billion, sharp declines in technology costs, and rapid progress in government policies all herald a promising new energy era. Technologies available today, and those expected to become competitive over the next decade, will permit a rapid decarbonization of the global energy economy. New renewable energy technologies, combined with a broad suite of energy-efficiency advances, will allow global energy needs
to be met without fossil fuels and by adding only minimally to the cost of energy services. Advanced automotive, electronics, and buildings systems will allow a substantial reduction in carbon dioxide emissions. The savings from these measures can effectively pay for a significant portion of the additional
cost of advanced renewable energy technologies to replace fossil fuels, including wind, solar, geothermal, and bio energy.