A sustainable future takes collaboration. That's what 32 of the world's leading utility companies are doing, partnering to invest in clean energy and infrastructure while serving 327 million customers around the world.
According to Renewable Energy Magazine, the utility companies announced at New York Climate Change Week that they will invest more than $116 billion annually to "scale renewables portfolios by 2.6 times by 2030."
These investments include modernizing grid infrastructure and addressing supply chain constraints. They aim to speed up the "electrification agenda," which is transitioning power sources from non-electric sources to electric ones.
In addition to this commitment, the Utilities for Net Zero Alliance — which formed at last year's UN Climate Change Conference (COP28) and includes 39 partners, including the 23 utility companies — released a statement with recommendations for policymakers.
The alliance wants policymakers to standardize equipment across regions, have forward-thinking planning that includes multi-project approvals and permits, and ensure people have the skills to do this work.
UN Climate Change High-Level Champion for COP28, HE Razan Al Mubarak, said, "This partnership sets both a powerful and practical foundation for a sustainable future, guided by innovation and shared commitment from utilities, which are at the heart of energy transitions."
Co-chair and founder of Utilities for Net Zero Alliance, Jasim Husain Thabet, said in a press release, "The message to suppliers and policy makers is that we need partnership and farsighted strategies in this critical element of the transition."
According to the Smart Electric Power Alliance, it's urgent that we switch to clean energy sources because, as of November 8, 2023, there were 25 disaster events that year in the United States alone, including 19 severe storms and other events that caused more than $1 billion in damages. In addition to economic losses, the disasters caused 464 deaths.
While reducing polluting gases will help reduce the risk, length, and intensity of extreme weather conditions, switching to renewable energy can save you money, too.
🗣️ Will America someday get all its energy from renewable sources?
🔘 Yes — very soon ☀️
🔘 Yes — by 2050 ⏰
🔘 Yes — by 2070 ⏳
🔘 Probably never ❌
🗳️ Click your choice to see results and speak your mind
A study has found that community solar projects and installing solar panels on your house can cut down on the power demand of the electrical grid in a neighborhood and save the area 40% annually.
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