Bill Gates Urges 'Impatient Optimism' on Climate Change Innovations

Bill Gates, noted billionaire philanthropist, discussed the need for "impatient optimism" about both climate change and global development last month during an interview at an international affairs think tank: Q: If you go back a decade, are you more or less optimistic about where we are on climate change now, or then? Bill Gates: I'm certainly more optimistic because in 2015, when the Paris Agreement was signed, there were so many areas of emission where there wasn't any activity... Q: if you go back a decade, solar and wind were the most expensive energy sources we had. Since then, the price of solar has dropped 90%, and the price of wind has dropped 70%, and electric vehicles are now economically viable... I know you get excited about innovation. What are some of the areas that you're most excited about for innovation? Bill Gates: Across this portfolio of 100 companies it's hard to pick my favorite. Some are kind of straightforward, like a company that makes windows where the temperature doesn't cross over, but instead, it blocks getting cold in the winter or hot in the summer, which is very cheap. Or there is a company where you leave your home, and you pump this air through, but it's got a chemical in it. When it sees cracks, it actually seals those cracks. You don't have to find the cracks; you just pump the air in. You can reduce the amount of heat loss between the windows and getting rid of those cracks. You can reduce the energy bill by a factor of two, which then means less load on the overall energy system... The cement and steel ones are the ones, in a way, I'm most impressed by, because I wasn't sure we'd find anything in those spaces... Q: The problem, I guess, with cement is that you are taking basically limestone, and then you are converting it to calcium oxide. But the byproduct you get in that conversion process is CO2. Basically, you need a way to capture that CO2.... Bill Gates: As you heat the limestone, that releases CO2. It's exactly as you say, it's an equal number amount of emissions. One of our companies doesn't use limestone. They actually go and find another source of calcium, which fortunately turns out to be quite abundant and cheap. They make exactly the same cement that we make today, but not using limestone as the input. I was stunned that you could do that. Gates also hopes to see nuclear power in an economically viable form. "The nuclear industry basically failed, because their product was too expensive. It wasn't because of the waste or safety-type issues, which we can get into those, but it was economics." Bill Gates: First and foremost, you must have a much different economic proposition. The nuclear reactor I'm involved in, TerraPower, we only generate electricity when the renewable sources that have very little marginal costs aren't generating. We just make heat all day, and then only when the bid price of electricity is high enough, do we actually generate electricity, because otherwise, you have all this capital cost that half the time, the solar bid into that market is going to be very low. I think fission, we shouldn't give up on it. I'm involved in that company only because it may be able to make a significant contribution to [fighting] climate change... I can't overstate how much easier it is to solve the problem if you can mix in some degree of fission or fusion that are there to fill in the periods where renewables are not generating. Cold snaps or where you have these cold fronts just sitting there, that's when houses need the most heating. That's when neither wind nor solar are generating.

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