A transition away from fossil fuels to renewable sources of power by 2050 will save the world $12 trillion, according to a new study published in Joule by Oxford researchers Rupert Way, Matthew C. Ives, Penny Mealy, and J. Doyne Farmer. Oxford’s press release points out that the paper foresees a 55% increase in power production that will be achieved by transitioning to renewables by 2050 and the authors think it is plausible for wind-solar-battery and hydro completely to replace fossil fuels by then.

Source: Rapid Move to Wind and Solar Power would Save the world $12 Trillion: Oxford Study