The Biden administration on Thursday pledged to reduce U.S. economy-wide carbon emissions to around 50 percent below 2005 levels by 2030. The goal amounts to a 2 gigaton (Gt) reduction in annual, energy-related U.S. carbon dioxide (CO2) emissions by 2030 – triple the rate (3X) of carbon reduction achieved from 2005 to 2020, when annual emissions were reduced by 1 Gt.
In a statement yesterday, EPRI President and CEO Arshad Mansoor said, “We know the timing, we understand the trajectory, and we have the technical expertise to get there. We must redouble collaboration across all stakeholders to accelerate an affordable and reliable clean energy transition.”
Because other sectors, such as transportation, buildings and industry, could largely reduce carbon emissions through electrification, the power sector will play a crucial role in achieving the administration’s 2030 economy-wide goal. EPRI released a graphical depiction of the accelerated rate of reduction across sectors.
Mansoor said, “The power sector has an early lead in the race to decarbonize, but every sector must cross the finish line to be successful. Near-term decisions and actions – from policy to regulation to technology deployment – will be crucial to drive economy-wide decarbonization in the decade ahead.”
Beyond 2030, low-carbon resources, such as a hydrogen, advanced nuclear and carbon capture utilization and storage, will be essential to driving additional carbon reduction. To accelerate the development of affordable, low-carbon resources, EPRI and Gas Technology Institute are jointly leading the Low-Carbon Resources Initiative (LCRI), a five-year effort involving more than 40 organizations. The LCRI Research Vision released this week outlines research, development, and demonstration activities to further economy-wide decarbonization.
