Fast Transition: A North American power and natural gas sensitivity case exploring faster decarbonization through electrification.

Since 2005, carbon dioxide emission in the power sector as declined 27% in the United States and 36% in Canada. Many European governments and states like California have announced net-zero targets. Much deeper emissions reductions in are required in order to achieve that.

Can North America's power sector achieve net-zero emissions? IHS Markit explores this world through detailed modeling of a deeply decarbonized power sector through 2050, called Fast Transition, in which electrification of transportation and other end uses lead to 35% demand growth in North America grid-connected power which will require 75% increase in capital expenditure in power generation and transmission, or about $6.9 trillion. This will result in a tenfold growth in wind and solar capacity from today.

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