2035 Report: Plummeting Solar, Wind, and Battery Costs Can Accelerate Our Clean Energy Future
Wednesday, October 21, 2020
2:20 PM – 2:40 PM EDT
Most studies aim for deep decarbonization of electric power systems by 2050, but this report is the first to show we can get there in half that time with the latest renewable energy and battery cost data. The United States can achieve 90% clean, carbon-free electricity nationwide by 2035, dependably, at no extra cost to consumers, and without new fossil fuel plants. But without robust policy reforms, most of the potential to reduce emissions and increase jobs will be lost. On the path to 90% over the next 15 years, we can inject $1.7 trillion into the economy, support a net increase of more than half a million energy sector jobs each year, and reduce economy-wide emissions by 27%. This future also retires all existing coal plants by 2035, reduces natural gas generation by 70%, and prevents up to 85,000 premature deaths by 2050.