Colorado will hit 98.5% carbon cuts from electricity by 2040, new study says
Colorado’s electric power sector can cut greenhouse gas emissions by 98.5% by 2040 without major policy changes or major new costs to consumers, according to an optimistic state analysis that came as a happy shock to energy officials and environmentalists.
Current Colorado law targets an 80% carbon reduction from the highly polluting power plant sector by 2030, but did not try to pinpoint a year when net-zero emissions from electricity generation were possible, said Will Toor, executive director of the Colorado Energy Office. State officials welcome the analysts’ view that near-100% cuts from a 2005 benchmark are within reach, Toor said.
“The really big surprise in this study was just how far we are able to reduce emissions, at no incremental cost” from currently approved plans, Toor said. The modeling and analysis were done by a clean energy transition consultant.
The economically friendly scenario would cut Colorado’s electricity-related carbon emissions to 565,000 tons in 2040, from the 2005 benchmark of 40 million tons.
Western Resource Advocates, a prominent energy and environmental nonprofit, called the results “promising” and said they provide “valuable insights.”
“This is an exciting result because it shows the emissions reduction progress that is possible as the lowest-cost option,” said Gwen Farnsworth, deputy director of state advocacy at WRA.