The Role of Innovation in Meeting the EPA’s Clean Power Plan

The EPA’s proposed Clean Power Plan, meant to reduce carbon by 30% by 2030, is expected to be accomplished through a combination of improving existing power plants, switching to cleaner generation, boosting renewables, and improving energy efficiency. It is more than likely that the global economy’s ability to innovate and drive economies of scale will significantly ease this transition, providing as yet unknown but superior alternatives. Consider this: the wind and solar industries barely existed five years ago. Today, costs of wind have fallen by 58% in the last five years, and the price of installed solar has plummeted by… [more]