Study: Major Economies Could Save $500B Per-year By Using 100% Renewable Energy

The race to power entire countries with renewable energy is on, and those that improve their situation sooner than later stand to gain some serious pocketbook benefits.

According to a new study conducted by the NewClimate Institute, the major economies of the world – EU, USA, China – could save more than $500 billion annually if they’re able to power themselves entirely with renewable energy (note: residential use is not taken into consideration).

A country like the United States has a huge challenge ahead of it to generate 100% of the power it uses, but the return of investment would be immense. Saving money isn’t the only benefit here; job-creation is another one. According to the same study, if the world’s major economies hit these lofty goals, it’d result in the creation of 3 million jobs by 2030.

The move would also reap some rewards for the environment. It’s being said that if goals are met, the global temperature increase would be stalled, failing to break the “point of no return” threshold.

On account of the fact that some countries suffer with appalling air quality, moving to renewable could even save lives. It’s an incredible number, but the aforementioned study suggests that by 2030, the deaths of 2 million people could be spared, as they wouldn’t be plagued by air pollution related diseases.

It’s worth noting that Costa Rica is now being powered by 100% renewable energy, and as of late March, it hit its 75-day mark. Not too shabby!