A Green Real Deal includes increased energy efficiency across all economic sectors, a very low-carbon electricity system and the electrification of buildings, transportation and industry. Former U.S. energy policies offer a vision for the future.
The Green New Deal has sparked a timely impassioned national conversation on the imperative of addressing climate-change risks to our economy, environment and security and the associated needs of disadvantaged communities.
The price tag for inaction promises to get much higher and the transformation to a low-carbon energy will inevitably stretch to mid-century and beyond. Those who can least afford it — the poorest Americans and the world's developing countries — will be economically hit worst and first, and continue to pay the steepest price unless the rate of investment and innovation is accelerated and extended into all parts of our country.
So what are the features of a Green Real Deal? Increased energy efficiency across all economic sectors, a very low-carbon electricity system, and the electrification of buildings, transportation and industry to the extent that is practical are key. All of this is happening and the pace must be quickened through policy and markets.
These are just examples to indicate that outcomes derived from innovation are a much better bet than prescriptions based on someone's preferred technologies. For electricity, this means looking hard at advanced nuclear technologies and the capture, storage, and use of carbon dioxide, as well as renewables. Indeed, this might eventually include direct carbon removal from the air, a prohibitively expensive proposition today in its very early stages of R&D.
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