Financial analysis of the Paris Accord has led experts to believe the mandate could grow global gross product in the coming years. Wide spread implementation of clean energy will save countries across the world billions of dollars. In other news, Google’s Project Sunroof has identified that almost 80 percent of American homes have solar potential. Major solar power advancements were also announced this week, including new ways to harness electricity and improved efficiencies.

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Bloomberg– Paris Accord Could Make the World $19 Trillion Richer

• Originally intentioned to curb global warming, the Paris Accord could have additional economic benefits. According to expert economists, gross world product could rise by .08 percent by 2050, equal to 19 trillion dollars. The study also indicates that six million jobs could be created over the same time period. 

  “Efforts to slow climate change won’t just keep the planet habitable.”

Greentech Media– There’s Vast Untapped Potential for Solar Rooftops in the US, Says Google

• Two years ago, Google launched Project Sunroof, designed to measure solar potential in select areas. This week, the company announced that the service is collecting data in every state, monitoring over 60 million rooftops. Users can enter their address to calculate the amount of savings they could see by going solar. Google claims that a remarkable 79 percent of homes monitored have solar potential. 

“The expansion means that Google’s Project Sunroof is starting to get a much clearer picture of how much rooftop solar capacity there actually is in the U.S. “

The New York Times– Solar Experiment Lets Neighbors Trade Energy Among Themselves

• A project in Brooklyn has developed a system for residents to “trade” solar energy. The goal is to enable citizens to exchange excess energy, limiting waste at peak hours. Currently, a network has been established to allow purchasers and sellers to interact in a community based system. Although the scale is small at the moment, it could be a major development in clean energy.

“Community members can work both individually and collectively to help meet demand in an efficient way.”

Independent– Record-breaking solar panel converts more than a quarter of sunlight into electricity

• Researchers in Japan have created a record-breaking solar panel that converts more than a quarter of absorbed sunlight into electricity. Standard panels are generally only able to use 3-6 percent of the sunlight they take in. While the panels are not commercially available yet, continued research could be a major breakthrough for renewable energy. 

“Improving the photo-conversion efficiency of silicon solar cells is crucial to further the deployment of renewable electricity. “

Futurism– We Can Officially Collect Solar Energy Without Solar Panels

• Researchers at Indiana University have created a groundbreaking way to recycle carbon dioxide with the use of light. The “molecular leaf” is able to use light in the atmosphere to convert the Greenhouse Gas into carbon monoxide. The carbon monoxide generated could serve as a fuel source, instead of being a wasted pollutant. The system essentially makes converting these two gases much more efficient and limits the amount of carbon dioxide toxins stored in the atmosphere. 

Renewable Energy World– Scientists Harness Solar Power to Produce Hydrogen from Biomass

• Scientists at the University of Cambridge have invented a way to generate hydrogen from biomass using solar power. The system absorbs light and converts it into gaseous hydrogen. The gaseous product is free of carbon dioxide and can be used to fuel vehicles in a sustainable fashion. The development is another step in the right direction for electric vehicle usage.

“With this in place we can simply add organic matter to the system and then, provided it’s a sunny day, produce hydrogen fuel.”

Bloomberg– Big Oil Replaces Rigs With Wind Turbines

• Major oil corporations are starting to realize the importance of clean energy and its economic value. In response to decreasing oil production in the North Sea, some companies are racing to construct wind turbines. Many executives believe renewables are the path forward and hope to establish themselves in the industry before it is too late. 

“Wind farms are especially interesting to Shell because they can power electrolysis reactions that make hydrogen, which the company says may be a major fuel for cars in the coming decades.”