According to a McKinsey Global Institute report released at the end of July, the world economy will have to improve its "carbon productivity" - the amount of gross domestic product (GDP) created per unit of CO2 - by a factor of ten by 2050 to stop global climate change in its tracks while continuing to enable a healthy level of growth. The report predicts that the cost of this transformation will amount to 0.6% - 1.3% of global GDP by 2030. They note that this compares favorably to the cost of insurance born by economies, which amounts to more than 3% of GDP.
Solar energy will cost the same as power produced by coal, natural gas and nuclear plants in about a decade, a report released Tuesday suggests. By then, the price parity could propel solar adoption so that it accounts for 10 percent of U.S. electricity generation by 2025