The world hasn't had a lot of good news lately, but a group of researchers at Stanford just gave us some that should get the attention of the public, policy-makers, and investors looking to get in before the competition.
The study shows that California, the world's eighth largest economy, can be powered completely by renewable energy.
Not only is this clearly possible, there will also be massive public benefit.
"If implemented, this plan will eliminate air pollution mortality and global warming emissions from California, stabilize prices and create jobs - there is little downside," said Mark Z. Jacobson, the study's lead author
If California moved to renewable energy, air pollution-related deaths would decline by about 12,500 annually and the state would save about $103 billion, or about 4.9 percent of the state's 2012 gross domestic product, in related health costs every year.
And one more thing...the plan would create a net gain of 220,000 jobs. Which would create net earnings of $12 billion annually.
To recap, that is more jobs, more money, fewer deaths, cheaper energy and less of it used.
For the public the benefit is obvious: electricity will be cheaper, the air will be cleaner, and fewer people will die as a result.
For policy-makers the message is clear: stop paying attention to silly efforts aimed at slowing the adoption of renewables funded by those who will lose money if renewables are adopted.
For investors the opportunity is enormous: massive amounts of capital will be needed for this transformation to occur. That's why Warren Buffett--the world's smartest investor--is one of the biggest investors in renewable energy and says he is looking to double his investment .
Renewable energy is going to power California. This is great news for the public. It should be a high priority for elected officials, and it's an enormous opportunity for smart investors looking for returns.