Achieving Economy-wide Net-Zero Emissions: Is it an impossible goal?
Meeting growing energy demands while eliminating emissions, maintaining affordability, and ensuring energy justice is one of the most significant grand challenges of our time. Governments and private industry around the world have established aggressive goals to achieve net-zero emissions by mid-century. In the U.S., this equates to a net-zero electricity sector by 2035 and across all energy use sectors—including electricity, industry, and transportation—by 2050. The key question then becomes: Can we get there from here? Meeting these aggressive goals demands immediate action, and they require us to think more holistically about our clean energy options. Currently, almost 85% of global energy demands are met by unabated fossil fuels. That means we have a lot of work to do, and we need to consider all of the non-emitting generation options available in each region—including fossil with carbon capture, renewables, and nuclear. And we need to reach our goal while establishing energy justice, which refers to the goal of achieving equity in social and economic participation in the energy system, while remediating past social, economic, and health burdens on communities that have been brought about by our energy system. This presentation will describe U.S. and global efforts focused on novel energy system solutions that strive to maximize use of all clean energy generation options to meet our energy demands, while ensuring sustainability, customer affordability, and a just energy system.