Horizons
One Giant Leap: President Biden's Vision For Repowering America
US President Joe Biden has set a transformative goal of achieving net zero in the US power sector by 2035. Ahead of the goal of net zero in the broader economy by 2050, this highly ambitious target comes on the heels of Europe's net zero emissions target and the UN Climate Change Conference in November. Can the US meet its mandate? Technological limitations, policy design, market structures and even the political and constitutional foundations of the United States create roadblocks that will impede the pace of progress. It will take enormous effort to achieve, but the process of meeting the goals will bring about major change in the US market that will help lower global carbon emissions.
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