{"id":6039,"date":"2017-06-03T06:10:22","date_gmt":"2017-06-03T06:10:22","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/why-pulling-out-of-paris-accord-damages-americas-economic-future-2.html"},"modified":"2017-06-03T06:10:22","modified_gmt":"2017-06-03T06:10:22","slug":"why-pulling-out-of-paris-accord-damages-americas-economic-future-2","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/why-pulling-out-of-paris-accord-damages-americas-economic-future-2.html","title":{"rendered":"Why pulling out of Paris Accord damages America\u2019s economic future"},"content":{"rendered":"


\n<\/p>\n

Pulling\u00a0<\/span><\/span>out<\/span><\/span><\/a>\u00a0of the Paris\u00a0<\/span><\/span>agreement<\/span><\/span>\u00a0on climate change will become one of the greatest economic blunders by a U.S. president in our lifetimes.<\/span><\/span><\/p>\n

People can disagree about the scientific premise behind climate change, but<\/span><\/span>\u00a0it\u2019s an inescapable fact that<\/span><\/span>\u00a0<\/span><\/span>the world is driving ahead to replace carbon energy with clean energy anyway. That makes advanced energy technologies one of the biggest business opportunities of the next couple of decades.\u00a0<\/span><\/span>The companies and nations that take the lead will become the next\u00a0<\/span><\/span>economic superpowers.<\/span><\/span><\/p>\n

President Trump said that he is pulling out of the agreement because it would cost American jobs. But while he might save a relatively small number of coal and oil jobs, he is harming the nation\u2019s chances to create vast numbers of advanced energy jobs. <\/span><\/span><\/p>\n

Many coal and oil jobs are eventually doomed anyway \u2014 those industries have a limited future as the world leaves carbon behind. Advanced energy jobs will multiply year after year. If the U.S. doesn\u2019t capture that work, other nations will.<\/span><\/span><\/p>\n

\"\"<\/p>\n

Chart courtesy of Forbes<\/a> and Statista<\/a><\/p>\n

Companies gain market leadership because they thrive on local markets first and then become global<\/span><\/span>. This is what happened in China with solar panel manufacturing \u2014 the government spent heavily to create a local market for the technology<\/span><\/span>.<\/span><\/span><\/p>\n

It pumped $89.5 billion into the industry in 2015 alone, and in January 2017 its National Energy Administration announced it would spend $360 billion through 2020 on renewable energy.\u00a0<\/span><\/span>As\u00a0<\/span><\/span>Chinese companies\u00a0<\/span><\/span>have\u00a0<\/span><\/span>perfected the process and scaled up manufacturing, they were in position to dominate solar panels around the world.\u00a0<\/span><\/span>Today the three\u00a0<\/span><\/span>biggest<\/span><\/span><\/a>\u00a0solar makers are based in China: Trina Solar,\u00a0<\/span><\/span>JinkoSolar<\/span><\/span>\u00a0and JA Solar.\u00a0<\/span><\/span><\/p>\n

If ending our participation in the Paris Accord<\/span><\/span> slows the U.S. advanced energy market, o<\/span><\/span>ur American companies will be at a huge competitive disadvantage globally<\/span><\/span>. They w<\/span><\/span>on\u2019t have a\u00a0<\/span><\/span>robust local\u00a0<\/span><\/span>market to\u00a0<\/span><\/span>build on. Before long, we will find ourselves buying energy technology from other countries, just as other countries now soak up our digital tech products.<\/span><\/span>\u00a0<\/span><\/span><\/p>\n

Worse, the damage can go beyond energy to all U.S. industry. New energy sources aren\u2019t getting adopted just because they might stave off climate change \u2014 they\u2019re getting adopted because they are becoming cheaper than carbon-based energy.\u00a0<\/span><\/span><\/p>\n

Solar<\/span><\/span>\u00a0is on a trajectory that echoes Moore\u2019s Law, which explained why computers got twice as powerful for the same price every 18 months for decades. The cost of solar has dropped 95 percent since the 1980s while efficiency has\u00a0<\/span><\/span>rocketed<\/span><\/span><\/a>.<\/span><\/span>\u00a0<\/span><\/span>And solar farms, with acres of solar panels laid out in a sunny climate, can be the most efficient of all.<\/span><\/span><\/p>\n

\"\"<\/p>\n

Photo: Chris Sattlberger\/Blend Images\/Getty Images<\/p>\n

With today\u2019s technology, solar panels covering just a few counties in Texas could\u00a0<\/span><\/span>supply<\/span><\/span><\/a>\u00a0all the electricity needed for the entire United States<\/span><\/span>.\u00a0<\/span><\/span>In May, California on some days\u00a0<\/span><\/span>generated<\/span><\/span><\/a>\u00a080 percent of the total power used in the state with renewable sources \u2014 because it has become cheaper than carbon.<\/span><\/span><\/p>\n

So if the U.S. falls behind in advanced energy and our companies instead rely on carbon, eventually U.S. business will be operating at a higher cost than competitors around the world that rely on clean sources.<\/span><\/span>\u00a0<\/span><\/span><\/p>\n

Anticipating Trump\u2019s announcement, in early May<\/span><\/span>,<\/span><\/span>\u00a02<\/span><\/span>5 major U.S. companies<\/span><\/span>\u00a0\u2014\u00a0<\/span><\/span>including Apple, Facebook,\u00a0<\/span><\/span>Mars Incorporated and\u00a0<\/span><\/span>Morgan Stanley \u2014<\/span><\/span>\u00a0<\/span><\/span>published a<\/span><\/span>\u00a0full-page\u00a0<\/span><\/span>letter<\/span><\/span><\/a>\u00a0in several new<\/span><\/span>s<\/span><\/span>papers\u00a0<\/span><\/span>that read: \u201c<\/span><\/span>By expanding markets for innovative clean\u00a0<\/span><\/span>technologies, the agreement generates jobs and economic growth<\/span><\/span>.\u00a0<\/span><\/span>U<\/span><\/span>.<\/span><\/span>S<\/span><\/span>.<\/span><\/span>\u00a0companies are well positioned to lead in these markets. Withdrawing from the agreement will limit our access to them and could expose us to retaliatory measures.\u201d<\/span><\/span><\/p>\n

Competing nations already know that Trump\u2019s actions spell opportunity.\u00a0<\/span><\/span>Chinese premier Li Keqiang, visiting Germany, said his country would\u00a0<\/span><\/span>remain<\/span><\/span><\/a>\u00a0committed to comb<\/span><\/span>ating climate change<\/span><\/span>.<\/span><\/span>\u00a0<\/span><\/span><\/p>\n

European Commission President Jean-Claude Juncker\u00a0<\/span><\/span>declared<\/span><\/span><\/a>:\u00a0<\/span><\/span>\u201cThe vacuum that would be created has to be filled, and Europe has aspirations for a natural leadership in<\/span><\/span>\u00a0this whole process.\u201d<\/span><\/span><\/p>\n

At least U.S. companies have pushed ahead despite the Trump Administration\u2019s rhetoric.\u00a0<\/span><\/span>Walmart, which installs solar panels on the rooftops of its stores, announced it intends to operate on 100 percent solar, and Google, which in 2016 consumed as much energy as the whole city of San Francisco, said that by the end of 2017 all its data centers globally will\u00a0<\/span><\/span>run<\/span><\/span><\/a>\u00a0entirely on renewable energy.<\/span><\/span><\/p>\n

The best news about Trump\u2019s action is that it will take four years to get out of the Paris Accord, so the final decision would land about the time of the next presidential election. Between now and then, U.S. industry has to send a clear message: our economic future lies in leading the world away from carbon. Otherwise, we will surely wind up as followers.<\/span><\/span><\/p>\n

<\/p>\n

Featured Image: Pete Marovich\/Bloomberg\/Getty Images<\/small><\/p>\n

Article source: https:\/\/techcrunch.com\/2017\/06\/02\/why-pulling-out-of-paris-accords-damages-americas-economic-future\/?ncid=rss<\/p>","protected":false},"excerpt":{"rendered":"

Pulling\u00a0out\u00a0of the Paris\u00a0agreement\u00a0on climate change will become one of the greatest economic blunders by a U.S. president in our lifetimes. People can disagree about the scientific premise behind climate change, <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[23],"class_list":["post-6039","post","type-post","status-publish","format-standard","hentry","category-networking-and-communication","tag-network-and-communication"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t