Green energy, golden gains: how international cooperation is driving the energy transition

Author: Ing. Mario Toyo, April 18, 2023.

In recent decades, climate change has become one of the biggest challenges facing the world. The burning of fossil fuels is one of the main factors contributing to this problem. However, the energy transition towards an economy based on renewable energy is gaining momentum around the world thanks to international cooperation.

What is green energy and why is it important?

Green energy , also known as renewable energy, refers to any form of energy that is produced from renewable sources, such as solar power, wind power, hydroelectric power, geothermal power, and biomass. These energy sources are clean and do not emit greenhouse gases that contribute to climate change. In addition, they are unlimited and sustainable in the long term.

Renewable energies, unlike fossil fuels, are not as volatile at the price level, since production costs are predictable and can be planned. This point is important given that conventional energies are very volatile depending on the context, which is why they usually have a great cost on a small and large scale.

But, if there is something that supposes a differential advantage for local economies, it is that renewable energy can be found anywhere in the world, so any place can secure a energy independence which today is not possible with fossil fuels, which must be imported to corners of the planet where they are not found naturally.

The transition to an economy based on renewable energy is necessary to reduce greenhouse gas emissions and curb climate change . Furthermore, it can be highly profitable and create jobs and stimulate economic growth.

The role of international cooperation in the energy transition towards green energy (Examples)

International cooperation is essential to drive the transition to green energy. Countries can learn from each other, share technologies and resources, and work together to overcome obstacles along the way. The contribution can also help reduce the costs of renewable energy, making it more accessible to more people.

• The Clean Energy Initiative for Central America (CICA) is an example of international cooperation in the field of green energy. This initiative collaborates between the countries of Central America and the United States to promote the transition towards an economy based on renewable energy in the region. Through CICA, Central American countries are receiving financial and technical assistance to develop renewable energy projects, improve energy efficiency, and reduce greenhouse gas emissions.
• The International Solar Alliance (ISA) is another organization working to increase solar energy production around the world. The ISA is made up of 121 countries and is working to mobilize $1 trillion in investment for solar power by 2030.

Overcoming obstacles to the transition to green energy

International cooperation can also help address obstacles on the road to green energy, such as lack of infrastructure and political and social resistance.

• International cooperation is key to increasing the capacity of countries to produce and use renewable energy and address inequality in access to green energy. The initial investment required to implement renewable energy projects can be expensive and limit access to green energy for low-income people and developing countries. International cooperation can help address this inequality by providing funding and resources for projects. In conclusion, international cooperation is essential for the transition towards an economy based on renewable energy and to combat climate change.

• In addition, international cooperation can also help promote research and development of new green energy technologies. As technology advances, more and more innovative and efficient ways to produce and use renewable energy are being discovered. International cooperation can help share knowledge and research in this area, which can speed up the development and implementation of new technologies.

In summary, international cooperation is essential to drive the energy transition towards an economy based on renewable energy and to address the challenges of climate change. Green energy is a cost-effective and sustainable long-term solution to reduce greenhouse gas emissions and curb climate change.

International cooperation can help overcome obstacles on the path to green energy, including lack of infrastructure, political and social resistance, limited technical and financial capacity, unequal access, and the need for continued research and development. Examples of successful international cooperation include the Central America Clean Energy Initiative and the International Solar Alliance. By working together, we can achieve an energy transition to a cleaner and more sustainable economy.

Bibliographic references

1. International Energy Agency. (2019). Energy Technology Perspectives 2019: Catalyzing Energy Technology Transformations. Paris, France: Organization for Economic Cooperation and Development.
2. https://es.wikipedia.org/wiki/Alianza_Solar_Internacional