COP30 And The Rise Of Solar
Most attendees at COP30 believe global warming cuts are too slow. Many people think that hitting the Paris Agreement goals is impossible.
Coal use, in particular, continues to rise, despite cuts in China. Its use in the US is increasing due to the growing demand for AI data centers. China is increasing the percentage of its electricity that comes from solar sources.
One thing is sure. There are no large nations where the electricity demand is not surging. In developed countries, much of this is for AI. In emerging economies, the need for air conditioning often arises, as global warming increases heat and humidity.
Delegates have offered two solutions. One is government spending, for both large, rich nations and poor countries, that can provide capital. This is another Paris Agreement that has been abandoned
Poor Nations And Energy
Another option is from the private markets. For this to work, financial institutions would need to loan tens of billions of dollars to nations with low credit ratings. These loans would need to be covered by unaffordable interest rates. Alternatively, natural resources could back them. Neither is likely to happen soon.
While decisions on funding surge, the need for electricity will not.
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