Renewable Energy Institute releases today "United States Carbon Free Power Sector by 2035: Economics and Technology Propel Renewables".
The United States is a major global leader. On a gross domestic product basis, it is the world’s largest economy. And on a primary energy consumption basis, it is the world’s second largest energy system.
The United States aims to achieve a carbon free power sector by 2035. This is both an inspiring and challenging objective. In 2023, 41% of the country’s electricity consumption came from decarbonized technologies: 23% from renewable energy and 18% from nuclear power.
This report analyzes the energy transition in the American power sector. It finds that solar photovoltaic, wind, and battery storage economic and technological progress makes this ambition within reach.
Key topics such as the Inflation Reduction Act, new industrial opportunities, electricity system reform, grid reinforcement and expansion, as well as the upcoming presidential elections are also included.
Renewable Energy Institute hopes that this report will enrich the energy debate in Japan at a time when the country’s next Strategic Energy Plan is actively discussed.
United States Carbon Free Power Sector by 2035
Economics and Technology Propel Renewables
<Table of Contents>
Introduction
Key Findings
Chapter 1: Renewable Energy as the Main Solution for Decarbonization
1) Significant increase in renewable energy electricity
2) Cost competitiveness of onshore wind and solar photovoltaic
3) The Inflation Reduction Act as the key policy
4) Embracing a new industrial era
Chapter 2: Storage and Market Rules for the Integration of Renewables
1) Battery storage explosive growth
2) Fossil power in danger, natural gas threatened and coal collapses
3) Nuclear power limited to a marginal role
4) Electricity system reform stimulates flexibility
Chapter 3: Reinforcement and Expansion to Solve the Grid Bottleneck
1) Overview of electrical grid interconnections
2) Grid connection, the major obstacle for renewable energy projects
3) Modern grid technologies and new transmission lines to improve the situation
Chapter 4: Renewables Promotion in a Federal Democratic Republic
1) Empirical developments under Presidents Obama, Trump, and Biden
2) States’ decisive actions over the Federal Government
3) Corporate buyers’ leadership for decarbonizing business
Conclusion
