Yes, we'll have to invest a lot but in the long term this could save the planet as well as huge sums of money, according to the IEA.
According to the International Energy Agency if the world replaced fossil fuels with renewables as its primary source of energy by 2050 the global economy will have saved US$ 71 trillion.
While these are the long term net gains, there are also some seriously costly investments needed to spur these changes.
The investments would guarantee that the average temperature rise since the industrial revolution is limited to 2 degrees Celsius.
According to the Agency, investments in renewables, nuclear power and carbon capture and storage would - in the long term - yield more than $115 trillion in fuel savings.
The agency claims that tripling the use of renewable energy, nuclear power and carbon capture and storage by 2050 would be crucial to reaching the goal carbon reduction goal.
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