Biden shines a light on solar goal

The Biden administration wants the US to garner nearly 50 per cent of its electric supply from solar energy by the middle of the century, it revealed as it unveiled the latest component of its climate change strategy on Wednesday.

A report released by the Department of Energy states that solar could account for as much as 40 per cent of the power supply by 2035, and 45 per cent by 2050, up from its current level of 3 per cent.

However such an increase would require the US to quadruple its annual solar capacity additions, the department said in a statement.

Extensive public investment in a power grid originally built for power from coal and natural gas would also be required, as well as policy changes to discourage the use of carbonbased energy, the statement says.

The report comes as President Joe Biden (pictured) presses for aggressive action on climate change and renewable energy.

It also comes on the heels of last month’s White House announcement of a 2030 target for half of all cars sold in the US to be zero-emission.

As with other ambitious climate targets, such as “Net zero” emissions by 2050, Mr Biden’s goals are “aspirational not practical”, said Dan Pickering, founder of Pickering Energy Partners in Houston.

“Trillions will be spent trying to get there,” Mr Pickering said.

“Moving that direction efficiently is hugely critical ... and hugely valuable.”

The DOE release included some policy objectives, but leaves much of the detail and decisions to Congress.

The report foresees some $562bn in additional cost in the buildout through 2050, but did not lay out a target for the public share of investment.

The analysis describes the investment as cost-effective, as it states some $1.7 trillion would ultimately be saved through “avoided climate damages and improved air quality”.