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Implementing renewable energy technologies

When buildings have been retrofitted to be more energy efficient and combined heat and power systems are used more broadly, we will have reduced energy demand significantly and cost effectively, while creating more jobs domestically. We can then look at the mass deployment of renewable energy technologies. Over time these technologies will mature and become more affordable. This process can be enhanced through policy implementation that incentivizes renewable energy development.

The electric grid will need to be expanded. This will allow for more interstate transmission of renewable electricity from the areas where the resources are good such as the southwest, for solar, and the central and plains states, for wind, to the areas where the population centers are such as the east and west coasts. If these grids are smart and allow for real-time energy pricing then demand will be leveled out. This unified national smart grid would include more efficient, higher-voltage long-distance transmission lines; "smart" distribution networks that use the internet to connect smart meters in homes and along the grid; energy storage units (i.e. batteries) throughout the network; and two-way communication between the equipment that consumes electricity and the equipment that produces it.

We can envision a future where most cars on the road are electric. At night, consumption across the grid is lower because lights are off, buildings are closed, and less manufacturing occurs. Owners of electric cars will plug their cars into the grid at night and recharge them after being driven during the day. Since, demand for electricity is lower, prices for this utility will be lower. With smart meters, residents will be charged for the actual cost of electricity at time of use rather than an average price. They will be incentivized to set washing machines and dishwashers to run at night when electricity demand is lowest. All of this evens out the demand on the grid, which means that power plants do not need to operate at peak capacity and reduces the need for new plants.

Energy savings in transportation

Transportation comprises nearly a third of energy demand in the United States so energy savings achieved here will translate to overall energy savings. To reduce energy consumption by vehicles we need to encourage vehicle efficiency and conservation. This is accomplished through the Corporate Average Fuel Economy (CAFÉ) standards. Congress first enacted these standards in 1975 due to the rising cost of gas that resulted from the country’s dependence on increasing levels of petroleum imports. The National Highway Traffic Safety Administration sets fuel economy standards for cars and light trucks sold in the United States while the EPA calculates the average fuel economy for each manufacturer. In addition to CAFÉ standards, in 1975 the speed limit on United States highways was reduced to 55 mph to limit gas consumption. Figure Carbon Dioxide Emissions and Fuel Economy by Model Year shows that model year 2009 had the lowest CO 2 emission rate (397 g/mi) and highest fuel economy (22.4 mpg) since tracking began in 1975.

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, Sustainability: a comprehensive foundation. OpenStax CNX. Nov 11, 2013 Download for free at http://legacy.cnx.org/content/col11325/1.43
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