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The De-Carbonization Of The Economy

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Over the last decade, the Gotham Gal and I have moved away from oil and gas in our homes and have installed solar panels for electricity and heat pumps for heating and cooling. It has gotten less expensive to do this swap out as solar and heat pump costs have come down. My partner Albert told me that when you factor in the financing costs of this swap, the average home in the Northeast United States could save $1000 to $2000 a year by doing this swap.

What this means is that homeowners can and should go to the bank and borrow the money to remove oil and gas powered boilers and replace them with energy efficient heat pumps and put solar on their roofs to power them. They should do this not just because it is good for the climate, but because it is good for the bank account. That’s a big deal.

I saw this chart in Azeem Azhar’s excellent Exponential View newsletter this week:

Electricity generation and consumption in the US has stabilized over the last twenty years and the use of coal to generate electricity is plummeting. In another twenty years this chart will have a huge amount of green and almost no red in it.

The de-carbonization of the economy is a megatrend that is already underway and is highly investable because the unit economics of renewables and energy efficient electrical equipment is now superior to the unit economics of carbon and mechanical equipment. We can see this in cars (EVs>Gas) and heating/cooling systems and many other aspects of our economy.

The narrative somehow has been that addressing the climate crisis is going to hurt our economy. I believe that is plain wrong. I believe it will power a huge economic boom that will look much like the boom that powered the carbon/mechanical/industrial economy from the late 19th century to the late 20th century.

So let’s get on with it.


USV TEAM POSTS:

Albert Wenger — Oct 10, 2020
Innovation Upends Extrapolation: Urbanization

Nick Grossman — Oct 2, 2020
USV Algorand Transparency Statement, Q3 2020



Source: https://avc.com/2020/10/the-de-carbonization-of-the-economy/


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