ECOR 1010 Lecture Notes - Lecture 5: Path Dependence, Carbon Price, Renewable Energy

• School: Carleton University
• Department: Engineering Common Core Courses
• Course: ECOR 1010
• Professor: Glenn Mc Rae

Document Summary

Tse lecture 5 climate change james meadowcraft. 80% of world"s energy is fueled by fossil fuels. Renewable energy sources have taken off for electrical energy generation, particularly in the last 5-10 years. Prior to fossil fuels, most of the energy was powered by manual labor, typically animals. Energy inequality: energy consumptions is vastly different in different parts of the world. In poor countries, they are consuming 1% of energy per person compared to what we are using in rich countries. Our use of energy is causing the climate to change a lot faster than it should be. Climate change: rise in sea level, changing weather patterns, climate typic points (discontinuities) things that change rapidly but cannot be reversed despite reducing ghg emissions. If we want to avoid climate change, we need to reduce our ghg emissions it is as simple as that. In the near future, we want to achieve carbon dioxide neutral energy systems.