Report details quick transition to 100 percent renewable energy
May 12, 2014 | By
Barbara Vergetis Lundin
The United States can quickly transition to nearly 100 percent renewable energy and phase out coal and nuclear power, according to research from Greenpeace and the Global Wind Energy Council. "Growing concerns about climate change and air pollution, along with quickly falling costs of renewable energy, are already upending the utility industry's business model and threatening to turn fossil fuel reserves into stranded assets," said Sven Teske, a renewable energy expert with Greenpeace International. "The Energy [R]evolution report demonstrates that the rapid changes in the energy sector could expand dramatically, with major implications for many industries." The report details how, by 2050, renewable energy sources could provide around 97 percent of electricity produced in the United States and 94 percent of the nation's total heating and cooling demand, accounting for around 92 percent of final energy demand. By phasing out coal and oil, fuel cost savings in the report scenario would be $6.1 trillion, or $153 billion per year, and overall costs would be about 50 percent lower than the government outlook. The United States would reduce carbon pollution 39 percent by 2025 and 60 percent by 2030 (below 2005 levels). For more: © 2014 FierceMarkets, a division of Questex Media Group LLC. All rights reserved. |