Eliminating fossil fuels from the U.S. power sector, a key goal of the 'Gre...
- Eliminating fossil fuels from the U.S. power sector, a key goal of the “Green New Deal” backed by many Democratic presidential candidates, would cost $4.7 trillion and pose massive economic and social challenges, according to a report released on Thursday by energy research firm Wood Mackenzie.
The report is one of the first independent cost estimates for what has become a key issue in the 2020 presidential election, with most Democrats proposing multi-trillion-dollar plans to eliminate U.S. carbon emissions economy-wide. The report said the transition would require “a complete redesign of the power sector” to adapt to a system of mostly intermittent resources like wind and solar energy that rely on the wind blowing and sun shining to generate electricity.
Finally, adding 200,000 miles of high voltage transmission to get wind and solar energy from the plains or deserts to major metropolitan areas would add another $700 billion.
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