Business Case Studies & Business Publications

Path to 2060: Decarbonizing the Electric...

Lenox, Michael, Du...

Research

Path to 2060: Decarbonizing the Electric Utility Industry (Batten Report)

Lenox, Michael; Duff, Rebecca

R-0003 | Published October 16, 2018 | 34 pages Research

Collection: Darden School of Business

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To avoid significant global disruption, scientists assert that global warming must be kept below a 2-degree Celsius rise from pre-industrial levels?a goal formalized in the 2015 Paris Climate Agreement. Meeting that challenge will require near total decarbonization of global economic activity by 2060. To avoid significant global disruption, scientists assert that global warming must be kept below a 2-degree Celsius rise from pre-industrial levels, a goal formalized in the 2015 Paris Climate Agreement. Meeting that challenge will require near total decarbonization of global economic activity by 2060. Electricity generation and heat production account for a quarter of greenhouse gases emitted globally. Renewables, led by wind and solar, hold the promise of a clean-energy future, but it will still take decades before we can fully replace fossil fuels. This report reviews the innovations and market forces that have supported zero-emission carbon energy sources including hydropower, nuclear energy, wind, and solar, and examines the potential growth of these technologies as major players in the future clean energy mix. It assesses the levers that could facilitate renewable adoption moving forward and offers some thoughts on the timing of decarbonization as well as the accelerators and roadblocks to meeting the 2060 goal.