Transmission Impossible? Prospects for Decarbonizing the US Grid
Journal of Economic Perspectives
vol. 37,
no. 4, Fall 2023
(pp. 155-80)
(Complimentary)
Abstract
Encouraged by the declining cost of grid-scale renewables, recent analyses conclude that the United States could reach net zero carbon dioxide emissions by 2050 at relatively low cost using currently available technologies. While the cost of renewable generation has declined dramatically, integrating these renewables would require a large expansion in transmission to deliver that power. Already there is growing evidence that the United States has insufficient transmission capacity, and current levels of annual investment are well below what would be required for a renewables-dominated system. We describe a variety of challenges that make it difficult to build new transmission and potential policy responses to mitigate them, as well as possible substitutes for some new transmission capacity.Citation
Davis, Lucas W., Catherine Hausman, and Nancy L. Rose. 2023. "Transmission Impossible? Prospects for Decarbonizing the US Grid." Journal of Economic Perspectives, 37 (4): 155-80. DOI: 10.1257/jep.37.4.155Additional Materials
JEL Classification
- L94 Electric Utilities
- L98 Industry Studies: Utilities and Transportation: Government Policy
- Q42 Alternative Energy Sources
- Q48 Energy: Government Policy
- Q54 Climate; Natural Disasters and Their Management; Global Warming
- Q58 Environmental Economics: Government Policy
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