Good news: U.S. carbon emissions are on the decline.
Not-as-good news: While declining, the U.S. needs to speed up the pace of decline.
A report revealed that U.S. emissions are expected to fall by as much at 3 percent in 2023 following two years of flat or increasing rates. While the drop is encouraging, the U.S. has work to do meet the Paris climate accord that calls for a 50 percent reduction – or now at double the rate of 6 percent a year through 2030 — by the end of the decade.
Analysis from the U.S. Energy Information Administration (EIA) and the Carbon Monitor both set estimate reductions in the 2.5-3 percent range.
The article attributed the decrease due to weather and lower natural gas demands from a mild winter as well as reduced demands for coal. EIA data showed that coal as a source of electricity production is down 16 percent compared to last year.
The emission reductions are occurring without the benefits from the Inflation Reduction Act, according to the report due to planning from utilities and renewable energy developers that occurred before the passing of the act. The act provides for $369 billion in clean energy spending.
Dave Lubach is executive editor of the facility market.
