Full Title: Energy Transition Outlook North America
Author(s): DNV
Publisher(s): DNV
Publication Date: September 23, 2023
Full Text: Download Resource
Description (excerpt):
The passage of the Inflation Reduction Act and the refocused Canadian Federal Budget are a major boost for clean energy in North America. They are accelerating the buildout of renewable energy and the growth of whole new demand sectors for that clean energy, from EVs through to electrolyzers producing green hydrogen.
By more than doubling electrification in the region and transitioning to an almost fully decarbonized electricity mix, vast amounts of energy waste will be eliminated in North America. Combined with the plunging costs of renewables and battery storage, the positive impacts of reduced energy intensity on economic activity are profound. This includes our finding that the average North American household will be spending only half as much on energy in 2050 compared with today.