Halfway to Zero: Progress towards a Carbon-Free Power Sector
Sharply reducing carbon emissions is imperative to prevent the worst effects of climate change. Yet even in the power sector—often viewed as the lynchpin to economy-wide decarbonization, and where low-carbon solutions are increasingly plentiful and cost-effective—the pace and scale of the required transformation can be daunting. A review of historical trends, however, shows the progress the power sector has already made in reducing emissions. Fifteen years ago, many business-as-usual projections anticipated that annual carbon dioxide (CO2) emissions from power supply in the United States would reach 3,000 million metric tons (MMT) in 2020. In fact, direct power-sector CO2 emissions in 2020 were 1,450 MMT—roughly 50% below the earlier projections. By this metric, in only 15 years the country’s power sector has gone halfway to zero emissions. Other metrics also evolved differently than projected: total consumer electricity costs (i.e., bills) were 18% lower; costs to human health and the climate were 92% and 52% lower, respectively; and the number of jobs in electricity generation was 29% higher. Economic, technical, and policy factors contributed to this success, including sectoral changes, energy efficiency, wind and solar, continued operations of the nuclear fleet, and coal-to-gas fuel switching.
https://emp.lbl.gov/publications/halfway-zero-progress-towards-carbon