An empirical analysis using 2005-2015 data from 15 EU countries indicates that as more renewable energies (i.e., solar PV) are deployed, energy costs increase, household poverty risks rise, and incomes decline.
Image Source: Pereira et al., 2019
In contrast to the negative consequences of switching from fossil fuels to renewables, Dr. Tadesse Weldu Teklu affirms “CO2 emission (energy consumption) is directly correlated to economic prosperity and industrialization.”
Therefore, least developed countries (LDCs) such as Ethiopia should “increase her CO2 emission per capita as much as possible” to escape from the renewables-centered “poverty trap” foisted upon them by “Earth-friendly” wealthy countries.
Besides, fossil fuel consumption will inevitably continue to grow and maintain a similar share to today’s (~80%) by 2040 despite symbolic “destined to fail” Paris agreement gestures.