Awesome to work with @CarbonWrangler on this paper and thanks to our colleagues @ColumbiaUEnergy and beyond for their thoughts and feedback as we were writing it. Some thoughts below https://twitter.com/ColumbiaUEnergy/status/1326546827844362247

[1/13] Zero-carbon electricity will be the essential backbone of the net-zero global economy. The research shows that we need to both grow and decarbonize the power sector if we want to transition on a reasonable timeframe and at a reasonable cost.

[2/13] We would ideally transition to a combo of zero-marginal cost supply techs (e.g., wind, solar, …) + firm, dispatchable techs (e.g., nuclear, NG w/CCUS, pumped hydro, geothermal…) + energy storage to keep power costs down and reliability up.

[3/13] As we transition, we will almost certainly see periods of temporary overgeneration and curtailment of renewables. In fact, that is already happening today (e.g., in California where #renewables #curtailment was up compared to previous years even before COVID19)

[4/13] So what are the best uses for surplus zero-carbon electricity? Our choices – and the degree to which they support decarbonization efforts – will be determined by policy design and political will. We need to do the math to make informed decisions.

[5/13] We can do a lot of different things with free/very cheap, clean electricity --- replace fossil-fuel power plants, decarbonize other sectors, make green products, remove CO2 from the air… just to name a few. Each has different benefits/costs to local communities.

[6/13] Policy makers should consider how we can achieve the highest public benefit from local overgeneration of zero-carbon electricity --- and if their first priority will be the climate, economic, or community value of these resources. New Zealand is a great case study here.

[7/13] In NZ, the recently announced closing of an aluminum smelter on the south island will free up a ton of electricity from a local hydro facility. The closure is expected to lead to 2600 lost jobs, which will have huge impacts on the local community.

[8/13]But it will also make a large amount of firm, low-cost, zero-carbon electricity available in a country that has committed to net-zero by mid-century. NZ has many choices on what to do with this power.

[9/13] For example, use it to 1) replace fossil generation in other parts of the country 2) decarbonize transport 3)make green products 4)pull CO2 from the air. At the heart of their choice if they will focus first on maximizing climate, economic, or community benefits.

[10/13] New Zealand is not alone in facing this choice. California, Denmark, Saudi Arabia, and New Zealand are examples we discuss in the paper…

[11/13] As municipalities, states, and nations decide how to balance these benefits they should DO THE MATH - considering the actual displacement of greenhouse gas emissions as well as the economic costs and opportunities associated with potential decisions.

[12/13] To learn more about this topic and recommendations from me and @carbonwrangler, check out the paper [it’s free and available online @ColumbiaUEnergy] https://www.energypolicy.columbia.edu/research/commentary/electricity-oversupply-maximizing-zero-carbon-power-accelerate-transition-fossil-fuels-0

[13/13] Also recommend checking out the work of the @IEA @IDDRI_ThinkTank @JesseJenkins @ElephantEating... for those who want to explore the role of electricity in deep decarbonization + how we can make the transition quickly and affordably.