Dive Brief:
Net zero energy commitments have proliferated among U.S. utilities in recent years, but the majority of companies plan to reach that target much later than the 2035 target set forth by President-Elect Joe Biden, according to a December report by the Energy and Policy Institute.
Achieving net zero energy generation or at least coming close to it should be possible by 2035, according to EPI research director Matt Kasper. However, it will require utilities to swear off natural gas and accelerate the rate at which they plan to retire their remaining coal plants.
Kasper expects encouragement from the Biden administration, coupled with pressure from investors, will prompt utilities to establish more ambitious emissions targets in the years to come.