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US Electricity
Figure 4: If the Earth is Warming (cyclically or
long-term), Is Mankind the Cause?
They will also encourage regulatory and legislative changes
that increase efficiency in electricity consumption, including
the removal of barriers to investment in cost-effective demand
reduction. The institutions will consider demand reduction
caused by increased energy efficiency (or other means) as part
of the Enhanced Diligence Process and assess its impact on
proposed financings of certain new fossil fuel generation.
Renewable & Low Carbon Distributed Energy
Technologies: Renewable energy and low carbon distributed
energy technologies hold considerable promise for meeting the
electricity needs of the US while also leveraging American
technology and creating jobs. Clients will encouraged to invest
Source: Black & Veatch Strategic Directions Survey
in cost-effective renewables and distributed technologies,
taking into consideration the value of avoided CO
2
emissions. Conventional & Advanced Generation: In addition to cost-
We will also encourage legislative and regulatory changes that effective energy efficiency, renewables and low carbon
remove barriers to, and promote such investments (including distributed generation, investments in conventional or
advanced generating facilities will be needed to supply reliable
Growth in renewable electricity ...
electric power to the US market. This may include power from
natural gas, coal and nuclear technologies. Due to evolving
provides 33% of the growth in electricity
climate policy, investing in CO
2
emitting fossil fuel generation
demand between 2007 & 2030 entails uncertain financial, regulatory and certain
environmental liability risks. It is the purpose of the enhanced
related investments in infrastructure and equipment needed to diligence process to assess and reflect these risks in the
support the connection of renewable sources to the system). We financing considerations for certain fossil fuel generation. We
will consider production increases from renewable and low will encourage regulatory and legislative changes that
carbon generation as part of the enhanced diligence process facilitate carbon capture and storage (CCS) to further reduce
and assess their impact on proposed financings of certain new CO
2
emissions from the electric sector.
fossil fuel generation. Relative to these emerging policies, AEO2009 states: “Total
energy-related CO
2
emissions in 2030 are predicted to
Figure 5: US Energy Related CO
2
Emissions by Sector &
be 6,410 million tonnes in the AEO2009 reference
Fuel, 2007 & 2030 (million tonnes)
case, as compared with 6,851 million tonnes in the
AEO2008 reference case – a decline of 6.4% or 441
million tonnes.
“With slower electricity growth and increased use
of renewables for electricity generation influenced by
renewable portfolio standard (RPS) laws in many
states, electricity-related emissions grow by just 0.5%
per year from 2007 to 2030 (Figure 4). Emissions from
transportation activity also slow in comparison with
the recent past, as corporate average fuel economy
(CAFE) standards increase the efficiency of the
vehicle fleet and higher fuel prices moderate the
growth in travel.
Taken together, all these factors tend to slow the
growth of the absolute level of primary energy
consumption and promote a lower carbon fuel mix.
Source: EIA, 2009
As a result, energy-related emissions of CO
2
grow by
worldPower 2009 31
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