The below is an extract of an article by McKinsey.
You can read the entire article at McKinsey’s homepage here.
“The global relevance of New York State’s clean-power targets
In the past year, several US states have announced 100 percent clean-power targets—meaning complete reliance on low-carbon sources such as wind and solar—to be achieved over the next 20 to 30 years. The European Union hopes to go even further: it wants to decarbonize almost its whole economy—not just the power sector—by 2050. Meeting these targets will require extensive efforts across sectors (including power, transportation, industry, and building heating), successful bets on technology, and complex policy changes that incorporate market incentives, costs, customer acceptance, and electrical interconnections with adjacent regions.More