- U.S. households generate over 40% of the nation’s greenhouse gas emissions, a result of being plugged into an electric grid which still derives most of its energy from fossil fuel-powered sources
- A recent study has revealed that the world could save as much as $12 trillion by 2050 by switching from fossil fuels to renewable energy – a claim predicated on the declining cost of renewable energy generation
- GeoSolar Technologies is looking to promote this energy transition, with its revolutionary SmartGreen(TM) Home system permitting households to slash their household utility bills to as little as $100 per annum whilst simultaneously, reducing their carbon footprint
The U.S. energy transition movement is still in its relative infancy; as of the start of 2023, over 80 percent of the electricity generated in America’s collective power grid owed its origins to non-renewable sources such as coal or gas. Meanwhile, most U.S. households remain connected to the grid, with over half of American households boasting a major gas-powered appliance such as a furnace, water heater, or stove in their homes. That means that the majority of U.S. households are emitting greenhouse gases every time a light switch is flipped or perversely – an electric car is plugged in to charge. As such and despite statistics such as the one suggesting that three-quarters of Californians would prefer to possess efficient electric appliances powered by clean energy rather than fossil fuels, over 40 percent of all greenhouse gas emissions in the U.S. are currently emitted by households (https://ibn.fm/HziN3).
The Paris Agreement, an international treaty on climate changed signed in 2016 by nearly 200 countries centred around mitigating pollution and avoiding climate disasters, had at its core focus a target of reducing global air pollution by 28 percent – followed by complete decarbonisation or ‘net zero’ status by 2050. However, the path towards meeting the globe’s ambitious targets require increasingly drastic measures.
A key impediment in the journey towards energy transition has been the perceived costs that such a move would entail. Famously in 2019, UK Chancellor of the Exchequer Philip Hammond wrote to the prime minister to say that the cost of reaching net zero greenhouse gas emissions by 2050 in the United Kingdom would come at a cost of over £1 trillion, a figure equivalent to nearly a third of the nation’s annual GDP. This was a view which was shared by the Swiss-based Intergovernmental Panel on Climate Change (“IPCC”), which published a report in 2022 alleging that the cost of keeping global temperature rises capped at 2 degrees centigrade would result in a loss of GDP by 2050 (https://ibn.fm/ujqQq).
A new report has now sought to debunk both claims. A recent research study jointly published by the University of Oxford and Australia’s Monash University has found that switching from fossil fuels to renewable energy could save the world as much as $12 trillion by 2050, given the rapidly declining costs of renewable energy generation – particularly relative to historic fossil fuel costs (https://ibn.fm/wPsRC).
“Our latest research shows scaling-up key green technologies will continue to drive their costs down, and the faster we go, the more we will save,” says Dr Rupert Way, the report’s lead author from the Smith School of Enterprise and the Environment.
This is a view which is shared by GeoSolar Technologies (“GST”), a Colorado-based climate technology company pioneering an approach into clean energy solutions for households. The Company has centered its corporate mission around reducing household carbon emissions through the introduction of its proprietary SmartGreen(TM) Home system. An environmentally friendly, renewable energy-focused technology designed to harness energy from the earth and sun to power and purify homes and automobiles without the use of fossil fuels, the SmartGreen(TM) Home system has enabled households to both, reduce their carbon footprint to near negligible levels whilst slashing household utility bills to less than $100 per annum (https://ibn.fm/GWb2V).
With the average U.S. home releasing upwards of 48 metric tonnes of carbon dioxide into the atmosphere per annum – the equivalent weight of a sperm whale, tackling household emissions has become an increasingly urgent mission for authorities across the country. It is along this vein that over 48 cities across the United States have already outlawed the laying of natural gas piping in the construction of new homes and commercial buildings. With U.S. households increasingly expressing a desire to transition towards renewable energy, GeoSolar Technologies’ revolutionary technological innovations may be the answer to America’s household emission problems.
For more information, visit the company’s website at www.GeoSolarPlus.com.
NOTE TO INVESTORS: The latest news and updates relating to GeoSolar Technologies are available in the company’s newsroom at https://ibn.fm/GST
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