Atlanta, GA, U.S.A. --- (METERING.COM) --- October 14, 2008 - Electricity chief executives from around the world have established an International Electricity Partnership to deliver advanced electric technologies to reduce global carbon emissions.
Electricity can be the solution to climate change and new technology can accommodate the objective of stabilizing of carbon emissions from all sources, said the leaders in their final statement. With aggressive application of such technology, carbon emissions reductions of 60 to 80 percent could be achieved by 2050.
The leaders noted that improved energy efficiency is an important objective in addressing climate concerns. This will require consumer education, improved building and efficiency standards, and supportive regulation. The expansion of new “smart” grid and end-use consumer technologies will also enable improvements. Thus energy efficiency offers an effective, short term way to achieve lower carbon intensity at acceptable costs to consumers.
In addition to carbon reduction efforts in electric supply and increased electrification, significant carbon reductions can also be achieved in the transportation sector with the deployment of new plug-in electric hybrid vehicles, which will also help to reduce dependence on oil.
Other conclusions were that all energy supply options, including nuclear power, should be kept open, and that in expanding renewable energy as a low emitting technology, improvements in the grid system will be required.
The leaders called on governments to continue to seek to restore investor confidence in order to maintain efficient global capital markets, as these are essential to the industry’s objective to invest and provide secure and reliable electricity to customers and to install the new technologies required to curb climate change.
Developed economies must lead and are committed to share technologies and experience to allow the developing economies to follow.
“This partnership is great news for the industry and for the environment. Electricity is the backbone of the world’s largest economies and we believe that electricity can be the solution to climate change,” said Pierre Guimond, president and CEO of the Canadian Electricity Association (CEA) during the summit.
The 2008 International Electricity Chief Executives Summit took place in Atlanta, Georgia, from October 6-7.