For those of you who don’t know, most of our electricity comes from power stations that burn fossil fuels like coal, oil, etc. This process produces a lot of greenhouse gas (also known as dirty energy), such as carbon dioxide and methane that warm the Earth’s atmosphere. This is detrimental to life on Earth as it can lead to the spreading of more diseases, severe weather patterns, and climate change.
As an alternative to using dirty energy, many people have found ways to use clean energy by tapping into the energy of the sun, wind, waves, water, etc. These sources are “clean” because they’re renewable and emit only a small amount of greenhouse gas. Unfortunately, ways to use these clean energy sources are still in development and people are working towards reducing the use of dirty energy sources. This is where Bill Gates and his billionaire friends come in, as they plan to fund the research and development needed to make this change.
What Bill Gates and His Next Investment
Billionaire and Microsoft founder, Bill Gates, is currently leading a $1 billion fund called Breakthrough Energy Ventures that will find ways to create affordable, clean energy. Joining him in this mission include many other successful entrepreneurs; Jack Ma (Chairman of Alibaba Group Holding Ltd), Jeff Bezos (Chief Executive at Amazon), Reid Hoffman (Chairman at LinkedIn Corp.), retired hedge fund manager John Arnold, etc.
In a recent interview, Bill Gates said he believes it’s very important that we work towards finding more ways to use clean energy. So, the goal of this fund is to make clean energy more affordable, and ultimately, end the use of dirty energy. The key to this, according to Gates, is innovation; investing in clean energy research, technologies, and companies. Some of these technologies will be used for transportation, power generation and storage, industrial applications, agriculture and energy system efficiency.
This research will, hopefully, lead to finding new and innovative ways to use things like solar fuels and nuclear fusion for energy sources. This process, which could be in development for 10 – 20 years, will hopefully cut greenhouse gas emissions by 500 million metric tons. Gates believes that using more affordable and cleaner energy in the U.S., and other countries, has its economic benefits and will also save lives.
Further Development with the President-Elect
While clean energy does have many influential investors, Bill Gates has stated that it’s also important for the government to be involved. However, Donald Trump has said in the past that he believes climate change isn’t real. Still, Gates is confident Trump, as well as Congress, will consider these ideas and take them seriously. This confidence comes from the economic benefits that come with converting to clean energy sources.
While Gates, and the other investors, want the Trump administration to support or increase government funding for energy research and development, research and development will continue regardless. It’s just easier to have them backing you, Gates stated in a recent interview. However, with so many influential entrepreneurs funding this movement, how can the government not invest in it?