The United States can dramatically cut global warming emissions and reduce consumer and business energy bills at the same time, according to the findings of a soon-to-be-released, two-year study by the Union of Concerned Scientists (UCS).
The analysis, "Climate 2030: A National Blueprint for a Clean Energy Economy," found that implementing a suite of climate, energy and transportation policies would allow the United States to meet an emissions-reduction cap of 56% below 2005 levels by 2030 and save consumers and businesses $465 billion in that year. The average U.S. household would enjoy a net savings of $900 on its energy bills, including $580 on transportation (fuel, vehicle and driving) costs and $320 on electricity, natural gas and heating oil, after investing in home efficiency improvements. Businesses collectively would realize net energy bill savings of $130 billion.
UCS’s policy recommendations would put the nation on a path to reduce heat-trapping emissions by at least 80% below 2005 levels by 2050, the target that UCS experts contend is necessary to prevent the worst effects of climate change.
"We have a historic opportunity to reinvent our economy, tackle global warming, and cut energy costs," said UCS President Kevin Knobloch. "Setting a limit on heat-trapping emissions would ensure that we make the necessary carbon emission reductions to help avoid the worst consequences of climate change. Combining a carbon cap with strong efficiency, renewable electricity, and transportation standards can deliver those emission cuts and save Americans a substantial amount of money."
The analysis found that by 2020 the United States could meet a cap of 26% below 2005 levels and save consumers and businesses $346 billion in that year.
Most of the net energy bill savings over the next two decades would be due to more energy efficient buildings and industrial processes; cleaner cars; and a more efficient transportation system. A nationwide limit on carbon emissions would slightly increase energy prices, UCS found, but a comprehensive set of energy and transportation policies would dampen energy demand, lowering energy costs to more than offset efficiency investments and the higher cost of energy.
The UCS analysis, which used a modified version of the Department of Energy’s National Energy Modeling System (NEMS), concluded that the United States could reduce energy demand by a third through improved efficiency in buildings, industry and transportation systems. More than half of the emissions reductions, meanwhile, would come from cuts in the electric generation sector. By 2030, the analysis found, power plant carbon emissions could be 84% lower than 2005 levels.
"Efficiency and renewable energy technologies are ready today to power our economy with carbon-free electricity," said Steve Clemmer, research director of UCS’s Clean Energy Program. "Our blueprint shows that these clean energy sources can lead the way in cutting U.S. emissions, while lowering electricity bills and curbing our addiction to dirty, high-carbon coal power."
The report’s recommended approach is similar to one in a draft discussion climate bill recently proposed by Reps. Henry Waxman (D-Calif.) and Edward Markey (D-Mass.). Their bill features many of the same policies found in the report, including a cap-and–trade program, a renewable electricity standard, energy efficiency standards, and low-carbon fuel standards.
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The Environmental Protection Agency (EPA) released its review of the bill proposed by Rep. Waxman, stating that it will “drive the clean energy transformations of the U.S. economy,” while having “a relatively modest impact on U.S. consumers.”
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