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The Cost of a Carbon-Free Electricity System in the U.S

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  • Geoffrey Heal

Abstract

I calculate the cost of replacing all power stations in the U.S. using coal and gas by wind and solar power stations by 2050, leaving electric power generation in the U.S. carbon free. Allowing for the savings in the cost of fossil fuel arising from the replacement of fossil fuel plants this is roughly $55 billion annually. Allowing in addition for the fact that most fossil plants in the U.S. are already old and would have to be replaced before 2050 even if we were not to go fossil free, this annual cost is reduced to $23 billion.

Suggested Citation

  • Geoffrey Heal, 2019. "The Cost of a Carbon-Free Electricity System in the U.S," NBER Working Papers 26084, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:26084
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    References listed on IDEAS

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    1. Geoffrey Heal, 2017. "Reflections—What Would It Take to Reduce U.S. Greenhouse Gas Emissions 80 Percent by 2050?," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 11(2), pages 319-335.
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    More about this item

    JEL classification:

    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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