The NRDC is a national nonprofit organization whose purpose is to “safeguard the Earth: its people, its plants and animals and the natural systems on which all life depends.”
Policy:
The New Energy Economy: Putting America on the path to solving global warming
Goal: Cut global warming pollution by 80%, or 10.6 billion tons, by 2050
The NRDC used a study by McKinsey & Company on the cost and market potential of greenhouse gas reduction technologies to project what it would cost to meet the goal of the “New Energy Economy” policy. They found that, due to the efficiency savings made in several areas, that the U.S. could meet this goal at little to no cost.
-The NRDC calculated both the monetary savings or costs, as well as the amount of carbon reduction of each category – Buildings, transportation, industry, low-carbon fuels, renewables, non-energy, carbon capture & storage, and other innovations.
Savings:
Buildings:
Potential CO2 Emissions Cuts per Year, 2050:
1.7 billion tons
Savings per ton of CO2 Emissions Cuts:
$40
Potential Savings:
$68 billion
-Energy use in buildings -- for things like cooling, heating and lighting -- is the largest source of global warming emissions in the United States. More efficient insulation, HVAC systems and lighting, as well as better maintenance and energy-efficient building designs, can help cut emissions from buildings in half by 2050. Energy efficiency saves on operating costs, and resale value. And there's tremendous growth on the horizon for firms that market and sell energy-efficiency services and products.
Transportation:
Potential CO2 Emissions Cuts per Year, 2050:
1.4 billion tons
Savings per ton of CO2 Emissions Cuts:
$30
Potential Savings:
$42 billion
-Improving fuel economy standards is the fastest, cheapest way to reduce global-warming pollution in the transportation sector. By increasing fuel efficiency, we can reduce emissions from cars and light trucks more than 50 percent by 2050. Studies show that fuel economy standards can make U.S. auto industry more competitive, as high fuel prices drive consumers to look for more efficient vehicles. Encouraging smarter land use in new developments can also cut down on global warming pollution by reducing the number of miles people have to drive to get to work, school or the grocery store.
Industry:
Potential CO2 Emissions Cuts per Year, 2050:
1.2 billion tons
Savings per ton of CO2 Emissions Cuts:
$10
Potential Savings:
$12 billion
-The U.S. industrial sector produces nearly one-third of the nation's greenhouse gas emissions. NRDC research show that improvements in the industrial processes could cut these emissions in half. Combined heat and power systems, for example, can capture and use the excess heat from electricity production to power industrial processes. These highly efficient systems save energy and reduce operating costs for industry.
Low-Carbon Fuels:
Potential CO2 Emissions Cuts per Year, 2050:
1.1 billion tons
Savings per ton of CO2 Emissions Cuts:
$0
Potential Cost/Savings:
$0
-By 2050, America could be producing more than 60 billion gallons of biofuels per year. But not all biofuels are created equal, and some can even make global warming worse. Fortunately, there are ways to reduce carbon emissions from biofuels, even from corn-based ethanol. New cellulose-based biofuel refineries, which use crops such as switchgrass or agricultural wastes to produce fuel, along with improved farming practices, can slash carbon emissions per gallon by more than 80 percent.
Cost:
Renewables:
Potential CO2 Emissions Cuts per Year, 2050:
1.4 billion tons
Cost per Ton of CO2 Emissions Cuts:
$10
Potential Cost:
$14 billion
-Renewable energy -- including wind, solar, biomass and geothermal energy -- has the potential to provide at least 40 percent of our electricity needs by 2050. Solar power today, for example, provides less than 1 percent of total energy use. But solar prices are dropping, and could compete with retail rates by 2015 and supply at least 20 percent of our electricity needs by 2050. Geothermal energy has strong potential in the West, biomass in the Midwest and Southeast, and solar in the Southwest. Global investment in new renewable energy installations totaled $38 billion per year in 2005, up from $15 billion per year in 2000.
Non-Energy:
Potential CO2 Emissions Cuts per Year, 2050:
1.3 billion tons
Cost per Ton of CO2 Emissions Cuts:
$20
Potential Cost:
$26 billion
-While most global warming solutions are related to energy use, other sectors can also be tapped to reduce global warming pollution. Agricultural soils and forest land, for example, have the potential to hold up to .4 billion tons of carbon dioxide, according to the EPA. And carbon dioxide isn't the only greenhouse gas- Fixing leaky natural gas pipelines, capturing methane gas from landfills and coal mines, and modifying industrial processes to eliminate the production and release of HFC's (hydrofluorocarbons) can help curb the emissions of other potent greenhouse gases.
Carbon Capture & Storage:
Potential CO2 Emissions Cuts per Year, 2050:
1.1 billion tons
Cost per Ton of CO2 Emissions Cuts:
$30
Potential Cost:
$33 billion
-Despite advances in efficiency and renewable energy, 100 to 200 new, large, coal-fired power plants will be built in the United States over the next few decades.Commercial technology to capture 90 percent or more of the carbon dioxide from the power plants and other industrial sources already exists, and the oil and gas industry has decades of experience safely transporting compressed CO2 by pipeline for deep injection into depleted oil fields. The United States is estimated to have enough geologic capacity to dispose of more than 3 trillion tons of CO2 in the sedimentary basins underlying vast areas of the country, several thousand feet below multiple layers of clay and rock. That's more than enough capacity to accommodate several hundred years of U.S. emissions.
Other Innovations:
Potential CO2 Emissions Cuts per Year, 2050:
1.4 billion tons
Cost per Ton of CO2 Emissions Cuts:
$50
Potential Cost:
$70 billion
-A concrete emissions cap is likely to spur entrepreneurial innovations that can further reduce global warming pollution. For example, a new material could replace energy-intensive cement; manufacturers could find ways to increase the lifespan of products that use emissions-intensive materials, or improve recycling and reuse. By 2050, technological advancements in industrial processes, agricultural techniques and materials are likely to present new opportunities to cut global warming pollution.
Policy recommendations for curbing global warming:
To move markets to deploy these solutions within the US, we need comprehensive and effective policy action. Three essential steps will put us on the path to curbing global warming.
1.Overcome barriers to investment in energy efficiency:
Relying on price signals alone to drive investment is not enough; state and federal policies are also needed to promote building and transportation efficiency at lowest cost.
2.Enact mandatory limits on global warming pollution to stimulate investment:
A mandatory cap will guarantee that we meet emissions targets and a well-designed program can reduce energy bills for consumers and businesses
3.Promote emerging low-carbon solutions:
The government must adopt performance standards and other policies to promote “learning by doing” and rapid development and deployment f emerging technologies such as low-carbon fuels, renewable electricity, and carbon capture and disposal.
Analysis:
-NRDC is a reliable source for information related to issues on the environment; has a database of articles and studies, and also has very up-to-date environmental information
-The NRDC policy relies heavily on legislation (progress probably not going to happen under the current administration)
-The NRDC policy requires public initiative across all sectors and geographies (everyone has to help)
-Success requires strong, coordinated, economy-wide action that begins now (everyone needs to know, and everyone needs care)
Sources:
-www.nrdc.org
-http://www.mckinsey.com/clientservice/ccsi/greenhousegas.asp
-http://www.ipcc.ch/
-www.climateprotect.org
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