The energy transition has successfully acquired the headlines however the actual results have been relatively less. Nonetheless, the discussions over means to achieve net-zero goals are multiplying.
One of the very promising paths is the taxing of carbon emissions made by industries. The aim is to motivate companies that generate carbon emissions to invest equally in cleaning it up. In order to save the excess, companies are increasing seeking out alternatives that reduce carbon emissions significantly. Another potential path has come to the table proposing promising results.
So far, the Congress Democrats have proposed two bills associated with the clean Electricity standard. It primarily would focus on demanding the fossil fuel operators of their emissions, and rewarding the renewable energy companies for environmental considerations. Ultimately, both bills are associated with the development of a carbon credit trading system. Meanwhile, an equivalent focus on establishing a clean electric power grid is crucial to explore opportunities, and reduce emissions across other sectors. Electrification of industrial sectors along with transportation is a critical element in the pathway for U.S. to accomplish zero-net emissions in future.
Globally known giants such as General Motors, Google, Tesla, and Lyft organized by the Environmental Defense Fund recognized the vital source of emissions. They found the power sector to be the third largest source of carbon emissions across the country. the need to enact a federal clean Electricity standard is clear in marking the economic recovery for the nation creating millions of new jobs.