NICHOLAS BIANCO
SEEING IS BELIEVING: CREATING A NEW CLIMATE ECONOMY IN THE UNITED STATES
WHY THE UNITED STATES?
Image: Chris Christner
5 OPPORTUNITIES FOR REDUCING GHG EMISSIONS:
1. Electric generation
2. Electric efficiency
3. Passenger vehicles
4. Natural gas systems
5. Hydrofluorocarbons
KEY FINDINGS:
1. WE DON’T HAVE TO CHOOSE BETWEEN ECONOMIC GROWTH AND AVERTING CLIMATE CHANGE
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KEY FINDINGS:
2. SUSTAINED TECHNOLOGICAL PROGRESS CREATES NEW OPPORTUNITIES
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KEY FINDINGS:
3. POLICIES CAN OVERCOME MARKET BARRIERS TO FACILITATE INVESTMENT & INNOVATION
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Photo haglundc
U.S. POWER GENERATION
A POWERSHIFT IN THE US
A POWERSHIFT IN THE US
Flickr, George Thomas
The Michigan Public Service Commission recently found that
new wind power was one half the cost of new coal generation.
Photo haglundc
Austin Energy in Texas recently contracted 150 MW of new solar at under 5 cents/kWh, which is cheaper than new natural gas, coal, or nuclear.
Competitive without tax credits
Photo haglundc
80% Price decline for solar PV systems since 2008
GROWING TOWER SIZE HAS OPENED UP NEW PARTS OF THE COUNTRY FOR WIND
GROWING TOWER SIZE HAS OPENED UP NEW PARTS OF THE COUNTRY FOR WIND
PASSENGER VEHICLES
VEHICLE TECHNOLOGY IS NOT STATIC
FUEL-EFFICIENT AND ELECTRIC VEHICLES INCREASINGLY COST-EFFECTIVE
$3,400-5,000
Fuel savings from vehicles in 2025
7x Cars with a fuel economy of 40 miles per gallon or more
ELECTRIC VEHICLES ARE ENTERING THE MARKET MUCH FASTER THAN HYBRIDS DID
ELECTRIC VEHICLE BATTERY PRICES ARE FALLING
Photo Patrick Smith
ENERGY EFFICIENCY
$450 billion
Electricity bill savings through 2030 due to appliance standards adopted since 2009
$2-$5
Consumer savings for every $1 invested in state efficiency programs
NATURAL GAS SYSTEMS
$1.5 billion
Increased annual revenues if all producers adopted best practices
HYDROFLUOROCARBONS
40%Reduction possible by 2030 with measures at a negative or break-even price
WHAT MORE IS NEEDED?
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Create long-term policy certainty for businesses and investors
1.
CAPTURING EXISTING & EMERGING OPPORTUNITIES REQUIRES THE U.S. TO:
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2.
CAPTURING EXISTING & EMERGING OPPORTUNITIES REQUIRES THE U.S. TO:
Drive continued technological development through direct public investment in R&D, public-private partnerships, competitions, etc.
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CAPTURING EXISTING & EMERGING OPPORTUNITIES REQUIRES THE U.S. TO:
Provide better conditions for deployment of new technologies
3.
PROVIDING BETTER CONDITIONS FORDEPLOYMENT OF NEW TECHNOLOGIES
Public support for low-carbon infrastructure
Eliminating regulatory barriers to investment
Helping investors access low-cost financing options
Address full cost of pollution
CONCLUSIONS
• We don’t have to choose between economic growth and averting climate change
• Sustained technological progress creates new opportunities
• Policies can overcome market barriers to facilitate investment and innovation
NICHOLAS BIANCO
SEEING IS BELIEVING: CREATING A NEW CLIMATE ECONOMY IN THE UNITED STATES
www.wri.org/seeingisbelieving
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