Full Title: Transcending Renewables’ Limits: Why Innovation Is Essential and How Federal Investments Can Unlock It
Author(s): Linh Nguyen
Publisher(s): Information Technology & Innovation Foundation (ITIF)
Publication Date: December 6, 2021
Full Text: Download Resource
Description (excerpt):
Renewables will be essential pillars of a cleaned-up power system in a carbon-constrained world. Many studies find that global renewable power capacity must double, or even triple, by 2050 to limit global temperature increases. Record-cheap solar photovoltaic (PV) and wind power have given the power sector an early edge in the race to net-zero greenhouse gas emissions by mid-century. However, despite impressive improvements over recent decades, renewables are far from being affordable, available, or reliable enough to meet the world’s growing demand for zero carbon electricity. The good news is scientists have developed promising solutions that may overcome renewables’ current limits. Sustained and expanded federal investments will be essential if these solutions are to grow to a transformative scale.
Renewables are far from being affordable, available, or reliable enough to meet growing demand for zero-carbon electricity. Scientists have developed promising solutions to these limitations, but it will require sustained, expanded federal investments to grow them to a transformative scale.