Technology and Climate Innovation
From carbon capture to green steel, how technology is being deployed to solve the climate crisis -- and where it falls short.
Technology Optimism vs. Reality
Climate technology has advanced dramatically. Solar panel costs fell 99% since 1976 and 90% since 2010. Lithium-ion battery costs fell 97% since 1991. Wind turbines doubled in capacity over two decades. Electric vehicles went from curiosity to 18% of new car sales globally in 2023. These are genuine transformations driven by learning curves, scale, and policy support.
But technology optimism can be dangerous if it delays action on proven solutions. Carbon capture and storage (CCS) has been 'just around the corner' for two decades but captures less than 0.1% of global emissions. Direct air capture removes CO2 at roughly $600-1,000 per tonne, compared to $50-100 for planting forests. The risk is that promising future technologies become excuses for insufficient action today -- a phenomenon critics call 'techno-optimism bias.'
