The Biden Administration is considering rules that would require power companies to dramatically increase carbon capture or switch to renewables.
The Washington Post recently reported that the Biden Administration’s EPA is considering new rules that would dramatically reduce allowable carbon emissions from power generation. If enacted, these regulations would effectively require power companies to exponentially scale up carbon capture or switch to renewables. While not yet public, an announcement from the EPA can be expected possibly within the next few weeks.
Some project that the new limits would effectively eliminate fossil fuel use in power generation by 2040. This would represent a dramatic national shift, even for a state like Maryland. Under 2022’s Climate Solutions Now bill, Maryland is for a 60% reduction in greenhouse gases from 2006 levels by 2031 and to have net-zero emissions by 2045.
Any final rule will likely take some time to finalize between internal haggling over details, public comment periods, and the near guarantee of lawsuits from the fossil fuel industry. Republicans in Congress have not been friendly to the proposed measure. Should they take both houses of Congress before the regulation’s enactment, they could vote to repeal it. Until the EPA makes an announcement, much of this remains as speculation, but it is worth noting that one way or another change is on the near horizon.