Washington, August 04: If global warming is to be addressed without breaking people’s pocketbooks, no single answer will do the job, a US research group tied to the electric utility industry says in a new study that concludes the problem must be attacked from many directions.
The report released on Monday says that needed greenhouse gas reductions can be achieved at a reasonable cost to electricity consumers if the problem is broadly addressed, including building new nuclear power plants, requiring coal plants to capture their carbon dioxide, expanding use of renewable energy, improving energy efficiency, and putting more electric cars on the road.
An aggressive pursuit of a wide range of new technologies could achieve the greenhouse gas reductions needed to contain climate change, while limiting the additional electricity cost to the average households to about $400 a year, the study estimates.
The report does not analyse specific climate legislation being considered by Congress. But it attempts to assess how greenhouse gas reductions of about 80% by mid-century – similar to what would be required by a bill approved by the House – can be achieved at the least cost to the economy.
The EPRI analysis says “the technical potential exists” for the electricity sector to cut carbon dioxide emissions by 41% from 2005 levels over the next two decades and achieve the 80% reduction by 2050.
—Agencies