The study, published in Nature Energy, is the first to investigate electric utilities on a global scale. Using a machine-learning technique, the research analyses the activities of more than 3,000 companies over the past two decades.
The study, published in Nature Energy, is the first to investigate electric utilities on a global scale. Using a machine-learning technique, the research analyses the activities of more than 3,000 companies over the past two decades.
‘This research highlights a worrying gap between what is needed to stop global warming, and what actions are being taken by the utility sector,’ explains Galina Alova, study author and researcher at the Smith School of Enterprise and the Environment. ‘Although there have been a few high-profile examples of individual electric utilities investing in renewables, this study shows that overall, the sector is making the transition to clean energy slowly or not at all.’
Many countries and businesses have committed to reach net-zero greenhouse gas emissions by 2050, to avoid the worst impacts of climate change. To achieve this, fossil fuels must be replaced with renewable energy throughout the economy. But the study suggests that utilities remain committed to their conventional fossil-fuel-dominated activities. While independent power producers are leading the penetration of renewables, traditional utilities lag behind.
Read more at: University of Oxford
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