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Renewable energy sources generated more electricity than coal or nuclear power in 2020. Only natural gas has overtaken these sustainable fuels. This is a clear indication that the country is literally buying clean energy. But is the pace fast enough to reach net zero by 2050?
The Biden administration wants to remove any uncertainty by promulgating a “clean energy standard” that would require electric utilities to produce a set amount of electricity with no emissions. Instead of having a patchwork of state laws, there would be a national standard. Power companies that have reached certain milestones will receive a payment – an incentive to increase their wind and solar production. The goal is to produce 80% clean electricity by 2030 and 100% by 2035.
“There is an incredible demand for clean energy,” says Lindsey Walter, deputy director of the climate and energy program at Third Way. “We are moving in this direction. But is it fast enough? Absolutely not. The Clean Energy Standard creates additional demand and accelerates the way.
Walter, whose comments came during a webcast hosted by OurEnergyPolicy.org on the clean energy standard, says producing 80% clean energy by 2030 is technically feasible. And, she adds, the data suggests that energy prices would fall 2% as a result. But reaching 100% is much more difficult – an effort that will require more innovation and especially when it comes to having a reliable back-up power source. At the same time, it will take more long-distance, high-power transmission lines to carry electrons from the wind and the sun.
Consider the latest data from the US Energy Information Administration: Between 2019 and 2020, coal-fired power generation decreased by 20%. Meanwhile, renewables, including small-scale solar, increased 9%. Wind power, which he says is the most common source of renewable electricity in the United States, increased by 14% between 2019 and 2020. Nearly 40,000 megawatts of new capacity are expected to come on stream in 2021, adds S&P Global Platts. About 80% of this will be renewable energy.
The Clean Energy Standard aims to put the United States on an irreversible path to achieving net zero by mid-century. And he loosely defines clean energy as anything that doesn’t produce CO2 or can capture carbon and bury it. U.S. Senator Tina Smith, D-Minn., Spoke at the webinar and said the legislation is supported by the United Steelworkers, Utility Workers of America, the Union of Concerned Scientists and the Clean Air Task Force.
“Americans want to see their electricity generated from clean sources,” said Senator Smith, sponsor of the bill. The Clean Energy Standard “can create jobs and energy independence,” she says, noting that this can be done as part of the budget reconciliation process and thus avoid inevitable obstruction. This, of course, assumes that all 50 Democrats in the US Senate would agree.
But what about carbon pricing?
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A report from the University of California at Berkeley generally agrees, saying the United States can generate 80% of its electricity from renewables by 2030. The cost to do so, he says, “would be the same as today “, due to lower renewable energy prices and lower battery storage costs. The savings are piling up, as the country would avoid the external costs associated with coal production: $ 1.7 trillion in damage to health and the environment through 2050, according to the study.
Competing House bill enjoys bipartisan support: Representatives David B. McKinley, RW.V, and Kurt Schrader, D-Oregon, have decided to cut emissions from the electricity sector by 80% d ‘by 2050. Their bill would increase funding for research and development – funds that would not only be used to prepare the grid to accommodate more green energy, but also to commercialize carbon capture and sequestration. . Coal is still expected to account for at least 30% of the world’s energy pie in the future, according to the World Coal Association.
This measure is supported by Energy Forward, which is made up of Ameren
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Of course, not everyone agrees that the federal government should impose the use of more renewable energies. The R Street Institute, which calls the transition “urgent”, believes the Clean Energy Standard is creating “artificial demand” for sustainable fuels. According to David Hartman, director of energy and environmental policy, the focus should be on reducing emissions while the cost of risks to health and the environment should be taken into account.
“It’s important to be more inclusive – to create a broader set of environmental implications,” he told the audience of OurEnergyPolicy. If done right, carbon pricing could be a better way to reduce CO2 emissions and combat externalities – a tax that would either be used to offset energy costs incurred by low-income customers or invested in new technologies. Many experts say such a tax is the most efficient way to measure carbon emissions, including Treasury Secretary Janet Yellen who wrote that it was the “classic solution”.
Efficient laboratories
Carbon pricing may be the ultimate answer. But the immediate solution is to involve businesses. Already the likes of Google
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Meanwhile, at least 30 states have renewable energy portfolio requirements. And a handful of states and 200 cities and counties are committed to 100% clean energy, according to UCLA’s Luskin Center for Innovation: Atlanta, Denver, San Diego, Salt Lake City, Las Vegas, Los Angeles, Madison, Wisconsin and Abita Springs. , Louisiana, whose state is dominated by oil interests, is all-in.
In 2015, Hawaii passed the country’s first all-green law. Other states doing the same are California, Maine, Nevada, New Mexico, New York, and Washington state. The deadlines are generally between 2040 and 2050, each having to meet intermediate requirements. Puerto Rico and Washington, DC follow the same path, with Washington DC having the most aggressive timeline: 2032.
“We need to come up with a system in which we regulate emissions. But it’s much more complicated to regulate emissions, ”said Arne Olson, senior partner for energy and environmental economics during the energy webcast. “In the short term, the Clean Energy Standard takes us in the right direction. ”
States have been the laboratories of clean energy policies. And through a combination of consumer demand and investment incentives, these jurisdictions have created an environment where wind and solar power, along with battery technologies and energy efficiency, have taken hold. Now the Biden administration wants to pick up the pace and get the ball over the goal line – to reach net zero goals by 2050. They’ve spread their chips across the table. But the smart bet, for now, could be on a clean energy standard.
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