Princeton University researchers have launched a global survey aimed at spotting and eliminating practical barriers to a net-zero carbon future. Description Much work needs to be done, very quickly, if if a net-zero carbon economy is to become reality by the middle of this century. Yet, the fact is that the current rate of investment in clean energy technology and today’s pace of clean infrastructure deployment lag well behind what will be needed to reach the mid-century goal, and limit climate change impacts. On the podcast, two researchers from Princeton University discuss their work to identify key bottlenecks to the acceleration of the energy transition in the areas of finance, workforce mobilization, and related challenges through a recently launched global survey into barriers to achieving net-zero. They also take a deep dive into a series of critical shifts that, if they take place, hold the promise of delivering an accelerated rate of decarbonization toward the 2050 goal. Elke Weber is a Professor of Psychology and Public Affairs, and Professor of Energy and Environment at Princeton University’s Andlinger Center for Energy and the Environment. Chris Greig is a Senior Research Scientist at the Andlinger Center and former energy industry executive. Related Content Accelerating Climate Action  https://kleinmanenergy.upenn.edu/podcast/accelerating-climate-action/ The Net-Zero Governance Conveyor Belt https://kleinmanenergy.upenn.edu/research/publications/the-net-zero-governance-conveyor-belt/ Ammonia’s Role in a Net-Zero Hydrogen Economy https://kleinmanenergy.upenn.edu/research/publications/ammonias-role-in-a-net-zero-hydrogen-economy/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

PJM Interconnection is in a race to shore up electric grid reliability as the transition from fossil fuels to clean energy accelerates. --- In February PJM Interconnection, the largest wholesale electricity market in the US, published a report that points to the very real possibility that electricity supply in the market could fall short of the level needed for reliable grid operation in just five years. The potential shortfall is tied to the pace of the energy transition, in which fossil fuel generators, and coal plants in particular, are retiring faster than they can be replaced by new clean and renewable generation. The report has led to a flurry of activity in PJM, as its members rush headlong into a process to reform the way the market manages, and values the reliability that generators bring to the electricity system. Abe Silverman, Director of the Non Technical Barriers to the Clean Energy Transition program at Columbia University’s Center on Global Energy Policy, explores efforts underway in PJM to revise market rules to ensure that supply meets demand at all times, including during extreme weather events that have recently threatened the reliability of the grid. The resource adequacy challenges to be addressed are immensely complex, and extend beyond the fundamentals of energy technology to encompass the diverse economic and environmental priorities at play in the market and, more broadly, across the nation. Abe Silverman is Director of the Non Technical Barriers to the Clean Energy Transition research and policy program at Columbia University’s Center on Global Energy Policy. He is former General Counsel for the New Jersey Board of Public Utilities. Related Content Wholesale Electricity Justice https://kleinmanenergy.upenn.edu/research/publications/wholesale-electricity-justice/ Massive Shift toward Solar Power Begins in Largest U.S. Electricity Market https://kleinmanenergy.upenn.edu/podcast/massive-shift-toward-solar-power-begins-in-largest-u-s-electricity-market/ The Economics of Building Electrification https://kleinmanenergy.upenn.edu/research/publications/the-economics-of-building-electrification/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

A senior climate diplomat discusses scientific, economic, and diplomatic barriers to rapid global decarbonization. --- In March the Intergovernmental Panel on Climate Change released the final volume of its Sixth Assessment report on progress toward addressing climate change. The findings of the report aren’t encouraging, and point to an acceleration of climate impacts and continued growth in fossil fuel use. Possibly the most candid assessment of the report’s findings came in a statement from the United Nations Secretary General, Antonio Gutierrez, who stated that developed countries must reach net zero by the year 2040, well ahead of declared targets, if hope is to remain of minimizing climate risks. In the podcast Simon Sharpe, Director of Economics for the UNFCCC Climate Champions and author of a newly published book, “Five Times Faster,” discusses his experience as one of the United Kingdom’s senior climate diplomats, and the frustrations, and alarm, that accompany the less than adequate pace of emissions reductions to date. Sharpe discusses his book’s exploration of the scientific, economic and diplomatic realities that have prevented rapid progress toward a net-zero global economy, and offers suggestions for constructive collaboration to accelerate the transition to cleaner forms of energy. Simon Sharpe is Director of Economics for the UNFCCC Climate Champions, and a Senior Fellow at the World Resources Institute.   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu Related Content The Net Zero Governance Conveyor Belt https://kleinmanenergy.upenn.edu/research/publications/the-net-zero-governance-conveyor-belt/ Nicholas Stern on the Role of Economics in Combating Climate Change https://kleinmanenergy.upenn.edu/podcast/nicholas-stern-on-the-role-of-economics-in-combating-climate-change/ Have We Reached Peak Carbon Emissions? https://kleinmanenergy.upenn.edu/research/publications/have-we-reached-peak-carbon-emissions/See omnystudio.com/listener for privacy information.

New research examines the relationship between climate change-related events and returns on green investment, and why returns for green stocks might lag those of brown. --- At first look it would seem to make sense that, as climate concerns grow, green investments would outperform investments in dirty industries. To put this into an energy context, as policymakers require more renewable energy to be deployed, and as investors flock to companies with low climate impacts and risks, the value of those companies would substantially increase, rewarding investors through higher returns. Yet recent research suggests that this assumption may not be true. Or, at least, that the story isn’t as clear cut as one might intuitively expect. Luke Taylor, a professor of finance at the Wharton School, explores the drivers of green returns. In new research, Taylor and coauthors look at the past decade of returns on ESG portfolios, and at how environmental policies, and investor demand for all things green, combined to influence returns on green stocks. Luke Taylor is a professor of finance at the Wharton School at the University of Pennsylvania. His recent research paper is “Dissecting Green Returns.”   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

New research looks into the coping mechanisms that families use to navigate energy insecurity, as a guide for policy-based solutions. --- The number of American households experiencing energy insecurity spiked during the COVID pandemic in 2020, as growing unemployment and falling incomes made it difficult for more households to balance utility bills with other financial demands. Yet the rising incidence of energy insecurity, and the often short-term focus of assistance to keep families financially afloat, belies the reality that energy insecurity is often a chronic challenge that predates acute financial crises, and persists long after. Sanya Carley, director of the Energy Justice Lab at Indiana University’s O’Neill School of Public and Environmental Affairs, discusses the nature of household energy insecurity, and novel research into the coping mechanisms that families experiencing energy insecurity use to juggle often competing needs of energy, food, and healthcare. Carley also talks about existing public policy measures to address energy insecurity, and the need for new types of data to underpin effective policy action. Sanya Carley is director of the Energy Justice Lab at Indiana University’s O’Neill School of Public and Environmental Affairs, and a visiting scholar at the Kleinman Center for Energy Policy at the University of Pennsylvania. Related Content Gender Baseline Assessment of Energy Compacts https://kleinmanenergy.upenn.edu/research/publications/gender-baseline-assessment-of-energy-compacts/ Opportunities to Equitably Expand Bikeshare: Learning from the Covid-19 Period https://kleinmanenergy.upenn.edu/research/publications/opportunities-to-equitably-expand-bikeshare-learning-from-the-covid-19-period/ Barriers to Energy Efficiency Adoption in Low-Income Communities https://kleinmanenergy.upenn.edu/research/publications/barriers-to-energy-efficiency-adoption-in-low-income-communities/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

A working paper from WRI, the International Solar Alliance and Bloomberg Philanthropies examines the essential role of private finance in scaling solar power development.--- A recent working paper from the World Resources Institute, the International Solar Alliance and Bloomberg Philanthropies finds that $1 trillion must be invested into solar energy by 2030 if global warming is to be kept within the limits of the Paris Climate Agreement.  Yet global investment in solar today is just half of what will be required. Massive amounts of financial capital, much of it private, must be available to ramp up solar development, particularly in developing regions of the globe where political and economic risks may otherwise present barriers to investment. Laura Van Wie McGrory, WRI’s Global Engagement Lead for Scaling Up Solar and a co-author of “Our Solar Future: Roadmap to Mobilize USD 1 Trillion by 2030,” explores strategies to de-risk solar investment and scale private capital toward the $1 trillion goal. Laura Van Wie McGrory is Global Engagement Lead for the World Resources Institute’s Scaling Up Solar initiative, where she coordinates efforts to mobilize investment for global solar power. Related Content: Kenya’s Clean Energy Transition Gets a Boost from Solar Power https://kleinmanenergy.upenn.edu/news-insights/kenyas-clean-energy-transition-gets-a-boost-from-solar-power/ Regulating Utility-Scale Solar Projects on Agricultural Land https://kleinmanenergy.upenn.edu/research/publications/regulating-utility-scale-solar-projects-on-agricultural-land/ Harvesting the Sun: On-Farm Opportunities and Challenges for Solar Development https://kleinmanenergy.upenn.edu/research/publications/harvesting-the-sun-on-farm-opportunities-and-challenges-for-solar-development/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Judy Chang, former Massachusetts undersecretary of Energy and Climate Solutions, discusses the need to educate consumers on the imperative to cut building emissions. --- Residential and commercial buildings account for nearly a third of climate warming greenhouse gas emissions in the United States.  Yet efforts to reduce the climate footprint of buildings have become political lightning rods.  Local regulations requiring new homes to be fully electrified often encounter fierce pushback, while at least 20 states have moved to outlaw local bans on natural gas connections in new homes.  Politics aside, business and home owners may have little awareness of their building’s climate footprint, and often lack the time and motivation to explore alternatives like electric space and water heating. Judy Chang, former Massachusetts undersecretary of Energy and Climate Solutions, discusses the political, economic hurdles to cutting the climate impact of buildings.  She also examines the role that consumers will play in efforts to decarbonize, and the need to educate consumers on the imperative to cut building emissions. Related Content The Net-Zero Governance Conveyor Belt https://kleinmanenergy.upenn.edu/research/publications/the-net-zero-governance-conveyor-belt/ The Economics of Building Electrification https://kleinmanenergy.upenn.edu/research/publications/the-economics-of-building-electrification/ Net-Zero Nevada: From Pledge to Action  https://kleinmanenergy.upenn.edu/research/publications/net-zero-nevada-from-pledge-to-action/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu  See omnystudio.com/listener for privacy information.

Daniel Poneman, former U.S. Deputy Energy Secretary and current CEO of Centrus Energy, explores resurgent interest in nuclear power a decade after Fukushima. --- Growing concern over energy security and climate change has revived interest in nuclear power in some of the world’s most energy-intensive economies. In Japan, nuclear generators that closed following the 2011 Fukushima disaster are reopening, while Germany has extended the operating life of the country’s remaining nuclear facilities. And in the United States recent legislation, including the Inflation Reduction Act, earmarks billions of dollars to support economically struggling nuclear power plants and the development of next-generation nuclear technology. Yet the future of nuclear energy remains far from certain as challenges around cost, complexity, and spent fuel disposal persist. Daniel Poneman, chief executive of nuclear fuel supplier Centrus Energy and former Deputy Secretary of the U.S. Department of Energy, discusses the political and market dynamics underpinning the nuclear industry’s resurgence in developed economies. He also examines the potential for small modular reactor technology to deliver economic, and carbon free, electricity in the future. Related Content The Net Zero Governance Conveyor Belt https://kleinmanenergy.upenn.edu/research/publications/the-net-zero-governance-conveyor-belt/ Wholesale Electricity Justice https://kleinmanenergy.upenn.edu/research/publications/wholesale-electricity-justice/ Can Nuclear Hit Its Stride in Africa? https://kleinmanenergy.upenn.edu/research/publications/can-nuclear-hit-its-stride-in-africa-power-to-the-people-evaluating-nuclear-as-a-bridge-to-sustainable-energy-in-africa/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Scott Moore, author of China’s Next Act, discusses China’s global role in energy technology and sustainability. --- China is indispensable in the global effort to address climate change and speed forward the transition to clean energy. Yet the country, which leads the world in both energy consumption and the manufacture of clean energy technologies, finds itself engaged in increasingly tense diplomatic and economic relations with the world’s developed economies, its key partners in addressing shared global challenges.  The degree to which these tensions frame China’s relationship with much of the world, and the degree to which China acts as a collaborative, or a competitive force in addressing global challenges, has implications for the global energy system and quality of our environment. Scott Moore, Director of China Programs and Strategic Initiatives at the University of Pennsylvania, and author of China’s Next Act: How Sustainability and Technology are Reshaping China’s Rise and the World’s Future, explores how China’s state-directed economic system, and the country’s economic ambitions, influence global efforts to advance energy technology and the energy transition. Related Content The Net-Zero Governance Conveyor Belt  https://kleinmanenergy.upenn.edu/research/publications/the-net-zero-governance-conveyor-belt/ East Meets West: Linking the China and EU ETS’s https://kleinmanenergy.upenn.edu/research/publications/east-meets-west-linking-the-china-and-eu-etss/   The Not-So-Rare Earth Elements: A Question of Supply and Demand  https://kleinmanenergy.upenn.edu/research/publications/the-not-so-rare-earth-elements-a-question-of-supply-and-demand/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Berkeley economist Meredith Fowlie explains why the drive to electrify everything in American homes is at odds with electricity rate setting practices, and explores pricing reforms to deliver rapid and equitable electrification. --- “Electrify everything” has become a mantra of decarbonization, and it’s one of the key strategies to reducing reliance on fossil fuels. Yet the process of electrifying everything from home heating to transportation creates challenges for the electricity system, which will need to grow to accommodate renewable energy and rising demand for power.     This raises a fundamental question: How can society make costly investments to grow the supply of power, while keeping the cost of electricity low enough that electrifying everything remains an attractive proposition for all consumers?   Meredith Fowlie, an energy and environmental economist at the University of California, Berkeley, explains why existing frameworks for setting consumer electricity prices can be at odds with the need to rapidly decarbonize. She also explores potential solutions to ensure that electrification happens rapidly, with costs and benefits that are equitably shared among households at all income levels.   Related Content Wholesale Electricity Justice  https://kleinmanenergy.upenn.edu/research/publications/wholesale-electricity-justice/      What Impact will the IRA Have on Consumer Energy Costs  https://kleinmanenergy.upenn.edu/podcast/what-impact-will-the-ira-have-on-consumer-energy-costs/ The Economics of Building Electrification https://kleinmanenergy.upenn.edu/research/publications/the-economics-of-building-electrification/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.