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When it comes to wind power, Denmark is prominent in the manufacturing and use of wind turbines Currently, Denmark generates more than 20 percent of its electricity with wind turbines, the highest percentage of any country and is fth in the world in total wind power generation73 It also manufactures more than 30 percent of wind turbines sold globally, contributing mightily to its GDP These and other technologies, such as solar power, biomass, tidal power, and geothermal power are areas with huge potential With suf cient research and development (R&D), technology sharing, and trade, these sources might become the power generators of the future Using projections from the Department of Energy, the group estimated that 45 percent of CO2 emissions could be offset with wind power by 2020, a fraction of the potential in the United States given vast wind reserves with the United States coastlines and gusty prairies74 The US federal budget for energy is just a paltry $3-odd billion Comparing this to the $111 billion the United States paid for energy imports from OPEC countries alone75 or to the current regular military budget of more than $500 billion,76 this sum demonstrates a clear lack of government commitment In 2006, the government spent $6 billion alone on the development of a ghter plane!77 In the past three years, US private investments into renewable energy technologies have doubled, and accumulated investment over the past 10 years amounted to $180 billion78 But this is peanuts in the big picture With the right government incentives to support R&D, think what could be mobilized By directing and harnessing the United States greatest strength nonstate actors like scientists, corporations, venture capital, and Wall Street an enormous economic boom could help the United States become a new technological leader in so many renewable energy areas
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While alternative energy sources require time and money to develop, the quickest, cheapest, and least contested means to reduce our dependency on fossil fuels is to just use less energy It is amazing what a difference can be made by simply becoming more energy ef cient McKinsey studies cite economically viable ways of cutting power
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demand growth from a forecasted 22 percent annually to a mere 1 percent These would also bring the United States halfway to the emissions cap of 450 to 550 parts per million, which has been set by the Kyoto Protocol to control global warming79 However, market forces alone won t suf ce While energy ef ciency does not contribute a positive addition to our power supply, it lowers our use of other fuels and is sometimes referred to as the fth fuel, after oil, gas, coal, and nuclear Why hasn t government been promoting this fth fuel A new national energy strategy should aim to reduce fossil fuel usage, which is largely a matter of legislation within our current technological capabilities While improving, the United States is extremely inef cient relative to other countries in Europe or Japan, so seeking out greater ef ciency shouldn t be hard And it has been done before: Consider that in the four years between 1979 and 1983, following the last spike in gas prices, the United States weaned itself off of 33 million barrels a day, a drop of nearly 20 percent Not until 1997 did the United States get back to the same level of oil consumption it had in 197980 And when oil prices peaked in 2008, oil consumption in the United States fell by 800,000 barrels a day, the biggest decrease since 1982 Taking up the largest share of end-use energy consumption at 25 percent, the US residential sector is ripe for energy savings The technologies are ready and available: By installing high-insulation building shells, compact uorescent lighting, and high-ef ciency water heating, the sector s energy per annum growth rate would shrink by more than half from 24 percent to only 1 percent81 Oddly enough, the main obstacle to the introduction of these technologies has not been the price of those investments in fact, these technologies would save the average consumer a lot of money over the years but ignorance about these opportunities and the costs associated with everyday energy use The US government could help by implementing limits on standby power-saving technologies, as California successfully did with refrigerators (see Figure 36) Electrical devices that are plugged in 24 hours a day use between two and 20 watts of standby, or vampire, power even when the device is fully charged or off Standby power accounts for 10 percent of US residential electricity consumption or more than $6 billion annually Manufacturers could easily build power
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