Research and Development geared towards the transition to renewables

Many nations continue to hold discussions that draft initiatives aimed at addressing the effects of global warming. Significantly, the carbon emissions from various sectors that drive the economy of every nation. Corporations based in the United States are implementing multiple environmental policies, initiatives, and state government strategies that seek to encourage the transition from fossil fuels to renewable energy sources. Studies show that fossil-fuel-powered vehicles and coal-fired electricity generation facilities are major carbon emitters in the transportation and energy industry, respectively. 

Recently, representatives from BASF, a big-name chemical company, and Southern California Edison developed strategies to make tremendous efforts toward adopting renewable energy. This plan advocates for the quick transition from non-renewables such as oil, coal, and gasoline to renewable energy sources such as wind power, solar energy, etc. The respective corporations continue to implement efforts such as utilizing electric technology for their steam crackers. Moreover, the companies increased their number of procurements for the utilization of renewable energy. The officials from both BASF and Southern California Edison made a public announcement on September 21 during the New York City Climate Week event.

Pedro Pizarro, president and CEO of Edison International, said that the company serves a market population knowledgeable about climate change and its advanced effects such as severe drought and devastating wildfires. The Southern California Edison is an organization under the umbrella group of companies known as Edison International. Southern California Edison examined the goals set by the California state government for implementing the initiative for eliminating carbon emission by 2045. The analysis gave the company a layout of the strategies it needs to execute to assist the entire state economy according to the targets set to achieve zero-emission. 

Pizarro said that the company identified clean energy, such as renewables and their respective energy storage technologies are the most viable and cost-effective strategies to attain an emission-free economy by 2045. To begin with, more than 75 percent of vehicles for passengers must be electric cars. Secondly, at least 70 percent of buildings must utilize electric heating and heated water from solar energy. Finally, several sectors must implement a transition to hydrogen production processes that use renewable energy sources and facilities that use the carbon capture technology.

A recent study report conducted by Hitachi ABB Power Grids showed that there are downward-sloping curves for costs in achieving green-energy goals set by the state government, local authorities, energy utilities, and companies operating the energy industry. 

In conclusion, this decline in operational cost will boost the generation capability, to more than 60 percent by 2044, to construct wind power and solar energy projects implemented in North America.