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EV Dreams & The Canary Out of a Coal Mine
Uruguay is, in a sense, a canary out of a fossil fuel danger zone. This small country in 2011 was 100% dependent on fossil fuel for electric power generation. They faced supply and price fluctuations and frequent electric power disruptions. But today they are typically 95% renewable energy, often 98%, mostly wind power. Poverty rates decline from 60% to 10%, they now have the highest GDP per capita in South America. In part because new business was willing to create new jobs because electric power is dependable.
This small country of 3.5 million people made the leap to renewable energy and now enjoys increased prosperity.
The US is moving to renewable energy but at a slower pace. Part of this is because America is much larger. Of course, an American Eagle is bigger than a South American Canary.
However, China is moving to renewables at a faster pace than the EU and the EU is moving faster than the US. The US is picking up the pace due to the Inflation Reduction Act, inspired by President Biden. Trump wants to stop this progress. Worldwide renewable energy growth was 50% rate from 2022 to 2023.
The world added 50% more renewable capacity last year than in 2022
