With the severe winter of 2014 as a backdrop, there have been questions about the future affordability and reliability of electricity. But what’s so often missing from this discussion is the reality that technological and economic transitions in the power sector are modernizing our nation’s electricity system. The result? Clean, affordable energy for generations to come.
As part of this change-over, older coal-burning plants are already being phased out. Some people still wonder whether EPA is to blame for these closures. But the reality is that power plant retirements are business decisions to move away from investing in aging facilities, many of which are more than 50 years old, do not control pollution, and are almost never run anywhere near full capacity. Other factors like low natural gas prices relative to other fuels and slow growth in demand for electricity also contribute to these market-driven business decisions.
We have seen significant progress in the power sector — all while keeping our businesses and homes powered up and our economy growing. For example, new and improved technologies — including more efficient and responsive natural gas plants, lower renewable energy costs, energy efficiency advances, and smart grid growth — are creating innovative ways to generate, transmit, and use electricity.