A study from the Electric Power Research Institute (EPRI) concludes that aggressively pursuing a wide range of advanced technologies could lower the cost of reducing future carbon emissions while meeting a growing demand for power.

“EPRI’s analysis clearly shows that if we can deploy a ‘full technology portfolio,’ we can provide lower-carbon electricity throughout the economy while simultaneously meeting additional demand for electricity due to population growth and economic expansion,” said Steve Specker, EPRI president and chief executive officer.

The study, released Aug. 13, was a follow-up to an earlier EPRI analysis that examined the ways technological advances can help to curb greenhouse gas emissions.

Without investments in advanced technologies, significant reductions in carbon emissions will result in higher prices for electricity and natural gas, and reduced economic growth, according to EPRI.

However, by developing and deploying advanced electricity technologies, the new study shows that carbon emissions could be reduced by 45 percent by 2030, compared with estimates from the Energy Department.

Also, that could be accomplished at a lower cost and save as much as $1 trillion in future U.S. economic growth under some scenarios. 
The study emphasized the critical importance of funding research and development, and initial demonstration projects.

That will require substantial private and public investments, EPRI said, but without it, the goals cannot be accomplished.

“Significant RD&D is needed over a sustained period, and technology development lead times require starting now,” it said.
The plan sets specific timetables for such advancements as a “smart” electricity grid, energy efficiency, plug-in hybrid electric vehicles, new advanced nuclear reactors and clean coal technologies with carbon capture and storage.

“No single technological ‘silver bullet’ will suffice,” the report said. “A technology-based strategy is sustainable, minimizes costs to the U.S. economy, and creates opportunities for decarbonization beyond the electricity sector and ultimately beyond the United States.”

Reprinted from Electric Co-op Today; story by Steven Johnson.