June 26, 2020
The U.S. Electric Grid of the Future Powers a Stronger Economy and Environment
BY ABIGAIL ROSS HOPPER , TOM KIERNAN , KELLY SPEAKES-BACKMAN & MALCOLM WOOLF
As the CEOs of America’s leading renewable and clean energy associations, we believe it’s time to examine our paths toward the future. Working together, we can bring about a market transformation to build a strong, resilient U.S. electric grid that derives more than half its power from clean energy by the end of the decade.
How do we get there? The truth is that we’ve already started, and both momentum and demand are building.
Solar and wind power are each committed to producing 20 percent of the nation’s energy by 2030, and hydropower has charted a course to reach an additional 50 GW of power produced by 2050. Energy storage is projected to reach 100 GW of new energy storage by 2030, enabling at least a 50 percent renewable and clean energy future. These targets are ambitious, measurable, and attainable. And with aggressive, forward-thinking policies in place to support this vision, that is just the beginning of what’s possible.
In many ways, the COVID-19 pandemic and the fight for racial justice playing out across the country have required us to pause and consider what our future holds. We believe that by committing to a clean, renewable, and affordable shared vision, we can cut emissions while playing a crucial role in our nation’s social and economic recovery.
Each of our industries — solar, hydropower, wind and energy storage — has its own story to tell. But we are united behind four common principles that drive all our efforts: significant carbon reductions; a resilient, efficient, sustainable, and affordable grid that produces low-cost energy; fair market competition; and active collaboration.