Transition Pathways Towards 100% Sustainable Electricity Generation for America Using Demand and Supply-side Determinants

Mark Agyei-Sakyi*

In most countries, energy resources and electricity generation have become the engine of economic growth. This study analyses effective and sustainable energy transition pathways and supply and highlights the commitments of the 2015 Paris Agreement by the United States of America in combating the challenges of global warming. The transition pathways are designed to reduce greenhouse gas emissions and advance worldwide temperature to a 1.5 °C average. Again, justifiable transition pathways mostly include energy savings on the demand side, generation efficiency, and fossil fuel substitution by various renewable energy sources and low-carbon nuclear. Renewable energy conversion approach to constantly remain precise strategic and beneficial, policy initiatives are necessary to steer the global electricity transition toward a sustainable energy and electricity scheme. In furtherance, the estimation of electricity output in emerging and industrialized economies, output, and demand projections affect economic planning and decision-making. Electricity generation and consumption impact the rate of technological advancement, GDP growth, industrialization, and infrastructural development. Most macroeconomic variables are reliant on sustainable electricity, including GDP, population, gross capital formation, and CO2 emissions. The electricity market therefore influences these macroeconomic variables. The relationship between the consumption of electricity and the emission of CO2 depends on the sources of electric energy generation. Electricity produced from renewable and sustainable sources emits virtually zero greenhouse gases. In terms of GDP and the formation of total capital, increasing the use of electricity leads to a positive effect. In addition, population growth requires the production of more electricity to satisfy the marginal demand resulting from population expansion. 

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Published on: Dec 14, 2024 Pages: 74-76

Full Text PDF Full Text HTML DOI: 10.17352/aest.000082
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