Utilities to Invest in Clean Energy
Greenhouse gas emissions from electric production make up 27% of all the United States' GHGs. We are slowly transitioning towards renewable energy, such as PG&E and Southern California Edison's commitment to seven new battery storage facilities for renewable energy, but this is not enough. Dirty fossil fuels still make up about 63% of our entire electrical needs; renewable energy only made up 17%. Renewable energy needs to be supported by private companies, including utilities.
Nation-and-worldwide, private support for renewable energy has been growing, but not nearly at the rate it should. For instance, ConEd of New York invested $1.5 billion in renewable energy over the last three years (which is only 1% of their total assets). Similarly, ConEd of New York has a 1.5 GW operating capacity for renewable energy. Assuming that the plants operate at an average 50% capacity (per normal) throughout the year, then that leaves them at just 10% of all of ConEd's electrical production. Even though ConEd touts its clean energy portfolio, this number is even lower than the percentage of renewable energy in the country. This is not acceptable.
ConEd is supposed to be one of the leaders in renewable energy, and it is clear that they are not doing all they can: 1% of their assets, and just 10% of production. This will not meet the goals of New York, nor the Paris Climate Accord. Join us in calling upon the nation's largest electric utilities to invest at least 5% of their assets in renewable energy, and demand that they are at least 50% renewable by the year 2025. Together, the top 10 electrical companies made 74,518,676,500 (just over $74.5 billion) in just revenue. They can afford the investment. Our planet can't wait.
Public revenue data
“Sources of Greenhouse Gas Emissions.” EPA. Environmental Protection Agency, April 11, 2020. https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions.
“What Is U.S. Electricity Generation by Energy Source?” EPA. Accessed June 9, 2020. https://www.eia.gov/tools/faqs/faq.php?id=427&t=3.
Image: Parkin, Posted By Scott, and Scott Parkin. “Texas Fights to Stay a Dirty Energy State - The Understory.” Rainforest Action Network, January 6, 2011. https://www.ran.org/the-understory/texas_fights_to_stay_a_dirty_energy_state/.