STOCK TITAN

California’s Clean Energy Future: Net Zero by 2045 is Within Reach

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

Edison International released 'Reaching Net Zero', a report outlining California's path to achieving net-zero greenhouse gas emissions by 2045. The report, presented at Climate Week NYC, highlights that despite infrastructure challenges, extreme weather impacts, and technological gaps, a clean energy future for California is attainable with immediate action.

The report emphasizes the need for significant investment and cooperation to achieve lower energy costs, reduced disaster risk, and cleaner air. It builds upon Edison International's 2019 'Pathway 2045' analysis, providing updated insights on the state's progress towards its climate goals.

Edison International ha pubblicato 'Raggiungere Zero Emissioni', un rapporto che delinea il percorso per la California verso l'obiettivo di azzerare le emissioni di gas a effetto serra entro il 2045. Il rapporto, presentato durante la Climate Week di New York, sottolinea che, nonostante le sfide infrastrutturali, gli impatti dei fenomeni meteorologici estremi e le lacune tecnologiche, un futuro energetico pulito per la California è raggiungibile con azioni immediate.

Il rapporto evidenzia la necessità di investimenti significativi e cooperazione per conseguire costi energetici più bassi, ridurre il rischio di disastri e migliorare la qualità dell'aria. Si basa sull'analisi 'Pathway 2045' di Edison International del 2019, fornendo aggiornamenti sui progressi dello stato verso i suoi obiettivi climatici.

Edison International publicó 'Alcanzando Cero Emisiones', un informe que describe el camino de California hacia la consecución de emisiones netas de gases de efecto invernadero cero para 2045. El informe, presentado en la Semana del Clima de Nueva York, destaca que, a pesar de los desafíos de infraestructura, los impactos del tiempo extremo y las brechas tecnológicas, un futuro de energía limpia para California es alcanzable con acciones inmediatas.

El informe enfatiza la necesidad de inversiones significativas y cooperación para lograr costos energéticos más bajos, reducir el riesgo de desastres y mejorar la calidad del aire. Se basa en el análisis 'Pathway 2045' de Edison International de 2019, proporcionando información actualizada sobre el progreso del estado hacia sus objetivos climáticos.

에디슨 인터내셔널이 '제로 배출 목표 달성' 보고서를 발표했습니다. 이 보고서는 2045년까지 온실가스 배출을 제로로 달성하기 위한 캘리포니아의 경로를 설명합니다. 뉴욕 기후 주간에서 발표된 이 보고서는 인프라 문제, 극단적인 날씨 영향, 기술 격차에도 불구하고 즉각적인 행동만으로 캘리포니아의 청정 에너지 미래가 가능하다고 강조합니다.

보고서는 상당한 투자와 협력의 필요성을 강조하여 더 낮은 에너지 비용, 재난 위험 감소, 더 깨끗한 공기를 달성할 수 있도록 하고 있습니다. 또한 에디슨 인터내셔널의 2019년도 'Pathway 2045' 분석을 바탕으로 하며, 주 정부가 기후 목표를 향해 나아가는 데 대한 최신 정보를 제공합니다.

Edison International a publié 'Atteindre zéro émission', un rapport décrivant le chemin de la Californie vers l'atteinte de zéro émission nette de gaz à effet de serre d'ici 2045. Le rapport, présenté lors de la Semaine du climat de New York, souligne que malgré des défis d'infrastructure, des impacts météorologiques extrêmes et des lacunes technologiques, un avenir énergétique propre pour la Californie est réalisable avec des actions immédiates.

Le rapport souligne la nécessité d'investissements significatifs et de coopération pour réaliser des coûts énergétiques plus bas, réduire le risque de catastrophes et améliorer la qualité de l'air. Il s'appuie sur l'analyse 'Pathway 2045' d'Edison International de 2019, fournissant des informations actualisées sur les progrès de l'État vers ses objectifs climatiques.

Edison International hat 'Netto Null erreichen' veröffentlicht, einen Bericht, der den Weg Kaliforniens zur Erreichung netto-null Treibhausgasemissionen bis 2045 skizziert. Der Bericht, der während der Climate Week in NYC vorgestellt wurde, hebt hervor, dass trotz infrastruktureller Herausforderungen, extremen Wetterereignissen und technologischen Lücken eine saubere Energiezukunft für Kalifornien durch sofortige Maßnahmen erreichbar ist.

Der Bericht betont die Notwendigkeit von deutlichen Investitionen und Zusammenarbeit, um niedrigere Energiekosten, ein vermindertes Katastrophenrisiko und sauberere Luft zu erreichen. Er baut auf der Analyse 'Pathway 2045' von Edison International aus dem Jahr 2019 auf und bietet aktualisierte Einblicke in den Fortschritt des Bundesstaates bezüglich seiner Klimaziele.

Positive
  • Edison International is actively contributing to California's clean energy future planning
  • The company is demonstrating leadership in climate change mitigation efforts
  • The report suggests potential for lower energy costs and reduced disaster risks in the future
Negative
  • Significant investment required to achieve clean energy goals
  • Existing infrastructure challenges and extreme weather impacts pose obstacles
  • Technological and policy gaps need to be addressed

Lower energy costs, reduced disaster risk and cleaner air are possible with significant investment and cooperation

ROSEMEAD, Calif.--(BUSINESS WIRE)-- The clean energy future for California is still attainable, despite infrastructure challenges, extreme weather impacts and technological and policy gaps. To achieve this, we must act now. Today at Climate Week NYC, Edison International released Reaching Net Zero, a forward-looking analysis that reinforces the urgent need for multisector collaboration, enhanced efficiencies and significant investment in clean firm generation to meet California’s goal of net-zero greenhouse gas emissions by 2045.

Highlights from Reaching Net Zero:

  • Edison International reaffirms its net-zero commitment, including Southern California Edison’s plan to deliver 100% carbon-free power to customers.
  • Electricity demand in SCE’s service area is projected to grow 35% faster over the next decade than estimated just two years ago, underscoring the need for accelerated grid readiness.
  • Achieving California’s climate goals requires clean electricity across all sectors, significant investment and industry-government cooperation.
  • New clean firm resources, like next-generation geothermal, are essential for a resilient, carbon-free power supply. As the electric sector approaches net zero, batteries and solar are important but insufficient alone.
  • Until sufficient clean firm resources are deployed, natural gas generation capacity in California should be retained for reliability and affordability, with reduced operations.

“To achieve net-zero greenhouse gas emissions in California by 2045, a commitment we share with much of the world, we must be united and act quickly,” said Pedro J. Pizarro, president and CEO of Edison International. “While we face challenges, it’s clear that with investment in clean firm generation and advanced grid technology, we can get there reliably and affordably. By 2045, even accounting for the infrastructure investment necessary for a safe, clean and reliable grid, SCE customers will see their total energy costs reduced by 40%, due to reduced or eliminated fossil-fuel expenses.”

Reaching Net Zero builds on previous analyses by Edison International examining what it will take for the company and California to reach net zero. Currently, more than 85% of Edison International’s emissions come from power delivered to SCE customers. SCE is on track to achieve a 95% reduction in power delivery emissions by 2045, compared to 2005. Reaching Net Zero also affirms the work of Edison International’s Trio subsidiary to help global corporate clients meet their net-zero commitments.

To achieve an equitable net-zero transition, nearly all buildings and vehicles must be electrified. California needs substantial new and updated clean energy infrastructure to meet forecasted demand, requiring capital investment and supportive policies to enable timely siting, permitting and development.

According to Reaching Net Zero, clean firm generation resources are fundamental to meeting California’s climate targets reliably and affordably. In addition to next-generation geothermal, examples include small modular reactors, clean hydrogen and natural gas paired with carbon capture and storage. Pairing intermittent technologies, such as solar and wind power, with battery storage continues to be an important part of the generation mix. Still, there are feasibility challenges in relying on these alone, particularly considering the pace and scale of the buildout required to meet forecasted demand and potential difficulties faced during extreme weather conditions. As the electric sector nears a low-emissions future, each gigawatt of clean firm generation would reduce emissions as much as seven to 11 gigawatts of solar and battery storage.

Until sufficient clean firm generation resources are available in California, natural gas capacity should be retained for grid reliability, particularly during periods of high-power demand. While natural gas capacity needs to be retained, these plants would operate less frequently than today, with operation generally limited to days with high demand and insufficient carbon-free (or emissions-free) power to meet it.

For more information and to download the paper: edison.com/netzero

About Edison International

Edison International (NYSE: EIX) is one of the nation’s largest electric utility holding companies, focused on providing clean and reliable energy and energy services through its independent companies. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison Company, a utility delivering electricity to 15 million people across Southern, Central and Coastal California. Edison International is also the parent company of Trio (formerly Edison Energy), a portfolio of nonregulated competitive businesses providing integrated sustainability and energy advisory services to large commercial, industrial and institutional organizations in North America and Europe.

Media Relations: 626-302-2255

News@sce.com

Source: Edison International

FAQ

What is the target year for California to achieve net-zero greenhouse gas emissions according to Edison International's report?

According to Edison International's 'Reaching Net Zero' report, the target year for California to achieve net-zero greenhouse gas emissions is 2045.

Where was Edison International's 'Reaching Net Zero' report presented?

Edison International's 'Reaching Net Zero' report was presented at Climate Week NYC.

What are the potential benefits of achieving California's clean energy future according to the EIX report?

According to Edison International's report, the potential benefits of achieving California's clean energy future include lower energy costs, reduced disaster risk, and cleaner air.

What are the main challenges in achieving California's clean energy goals mentioned in the EIX report?

The main challenges mentioned in Edison International's report include infrastructure challenges, extreme weather impacts, and technological and policy gaps.

Edison International

NYSE:EIX

EIX Rankings

EIX Latest News

EIX Stock Data

33.51B
386.46M
0.18%
91.25%
1.47%
Utilities - Regulated Electric
Electric Services
Link
United States of America
ROSEMEAD