NEW YORK: The technology we need to reduce greenhouse gas emissions and mitigate further global warming exists today, new research from the Advanced Energy Economy (AEE) highlights.
Advanced Energy Technologies for Greenhouse Gas Reduction, the new report from the AEE – a US association of business leaders who support clean energy advancement – documents 40 advanced energy technologies, illustrating how they can contribute toward America's low carbon economy.
By offering US states a large number of options for achieving emission reductions, the AEE demonstrate the feasibility of meeting the US Environmental Protection Agency's (EPA) new carbon standard that will be finalized next year.
The analysts point to the vulnerability of the existing system and note how the US Department of Energy recorded 679 widespread power outages due to severe weather between 2003 and 2012.
These outages were not only an inconvenience to citizens but also a shock to the economy, at a cost of US$18-33 billion in inflation-adjusted yearly losses.
AEE's report argues that due to advances in smart grid technologies and greater energy efficiency, demand for energy is now being met in a more reliable and resource-efficient way, which is transforming the American power system.
Furthermore, authors attest these same technologies can play an instrumental role in cutting emissions, and their wide-scale deployment would enable the US government to meet the new EPA carbon standards.
Graham Richard, CEO, AEE, elaborated: “The technologies described in this report can help states meet the new environmental standards and improve the quality of electric power service at the same time."
The CEO was also keen to stress the economic benefits which advanced energy technology offers: “If we seize this moment to put the proven technologies of advanced energy to work on a wider scale, we can modernize the electric power system and power our economy.”
Authors explain that simple adaptation measures such as the installation of quality insulation, efficient heating, ventilation and cooling (HVAC) equipment, will decrease power consumption.
Similarly the report argues 'management systems, software, and analytics optimize energy usage'. In addition, renewable energy technologies such as solar panels are proven to reduce carbon emissions effectively, while also increasing the electrical autonomy of American citizens.
Mark Kenber, CEO of The Climate Group, recently appealed for greater deployment of existing technology to accelerate the global clean revolution. Speaking at a special event to mark The Climate Group’s 10th anniversary, the CEO recognized: “About 80% of the energy, technology, finance and policy needed to make the transition to a low carbon economy is already in place. We need to focus on scaling up and replicating the proven solutions. It’s a no-brainer for any smart business or political leader.”
Mark also pointed to the financial opportunity clean tech presents: “The global clean tech market is already worth over US$2.5 trillion, and will grow to more than US$5 trillion in size within the next 10 years – about the same as the GDP of Germany and France combined.”
By Alana Ryan