Transitioning to a clean energy economy in the United States would cost $320 billion a year from 2020 to 2050, finds a new report from the Risky Business Project, but we'd save $366 billion a year in reduced fossil fuel costs alone.
Extreme weather and climate events such as storms, floods, droughts and wildfires visibly impact not only our communities and livelihoods, but also our resources and related infrastructure. In its latest report, U.S. Energy Sector Vulnerabilities to Climate Change and Extreme Weather, the U.S. Department of Energy (DOE) warns that domestic energy supplies are likely to face more severe disruptions given rising temperatures that result in extreme weather events. The report accurately outlines the risks climate change poses to the energy sector in the United States and serves as a wake-up call on this critical issue, which I highlighted in my testimony before the Energy and Power Subcommittee of the House Energy and Commerce Committee earlier this year.
As we’ve seen recently with Hurricane Sandy, epic drought, and wildfires, climate change visibly impacts lives and livelihoods throughout the United States. Global warming’s effects extend beyond people, wildlife, and ecosystems, though: They’re threatening America’s energy infrastructure.
Today, I testified on this very subject before the Energy and Power Subcommittee of the House Energy and Commerce Committee at a hearing entitled “American Energy Security and Innovation: An Assessment of North America’s Energy Resources.” I highlighted the energy risks and opportunities climate change presents, the role that clean energy should play, and actions Congress can take to mitigate global warming’s threats. Excerpts from the testimony are included below, or you can download my full testimony.
Climate Change Threatens Energy Infrastructure
Climate instability directly affects the future security of the U.S. energy sector. For example:
- Each successive decade in the last 50 years has been the warmest on record globally, and according to the U.S. National Climate Assessment, average temperatures will continue to rise. Energy demand is directly impacted by these temperature increases. A recent study in Massachusetts estimates that rising temperatures could increase demand for electricity in the state by 40 percent by 2030.
Testimony: American Energy Security and Innovation: An Assessment of North America's Energy Resources
In this testimony, Jennifer Morgan, Director of WRI's Climate and Energy program, describes the energy risks and opportunities that climate change presents; the role that clean energy can play in the U.S. energy mix; and actions Congress can take to mitigate global warming's threats....
Note: this post originally appeared on the National Journal.
This piece originally appeared in China Daily and is reposted with permission.