Towards a green economy

society by year 2020, with even greater cost increases by years 2035, and 2050, respectively.

It is important to note that the estimated costs of eliminating energy poverty are much smaller than estimates of energy investments to cope with growing energy demand or to address the challenge of mitigating climate change. In April 2010, the UN Secretary-General’s Advisory Group on Energy and Climate Change (AGECC 2010) published a report, which estimates the required capital investment for universal modern energy access to meet basic needs25

to be US$ 35-40 billion per year

through 2030. For improving energy efficiency in low- income countries, the same report estimates the need for an average of US$ 30-35 billion per year. A portion of these costs could be accounted for by renewable energy technologies (as discussed in section 2 above). A bigger push to invest in renewable energy more broadly need not, though, come at the expense of the relatively modest costs of ensuring universal access to modern energy.

25. Energy required for cooking, heating, lighting, communication, healthcare and education.

220