Bryk, Dale

“Solving Global Warming: Putting America on a Responsible Path to a New Energy Economy”

The imperative for the 21st century utility is to meet the nation’s energy needs at reasonable cost and with dramatically lower environmental impacts. How and when we respond to global warming and our growing demand for energy will define our generation and will determine what kind of planet we have for generations to come. The scale of the challenge will require an unprecedented societal response, one that transforms U.S. and global energy markets.

Our response will require advanced technologies, well-functioning markets, and rational market rules. Fortunately, many of the technologies and policy tools we need to make this transformation already exist. However, industry is not deploying these tools effectively, nor is it making sufficient investment in the next generation of technologies. Market failures abound, and perverse regulatory incentives are widespread.

The challenge then is to create an environment in which the next generation of utility companies is incentivized to develop and deliver new technologies and affordable, reliable and environmentally sustainable energy services. There also is a need for clear policies that will allow markets to function properly and facilitate rapid technological transformation. By implementing just a few strategies, the United States can address global warming while ensuring a role for U.S. companies in the growing market for advanced energy technologies. Investing in these areas also will result in a range of societal and economic benefits.

The United States is finally starting to move toward addressing the threat of global warming. Data indicate that we can solve the problem while continuing to grow our economy. We have the solutions we need today. Starting now will build momentum, and the market will generate many more solutions. Acting now also means that we start leading the global economy to a clean energy future. Failure to act forces us to run unacceptable economic and environmental risks from global warming. The time is now for political leadership both at home and abroad.