The transition to clean energy generation can succeed with careful planning – and without sacrificing reliability or affordability, Rick Thigpen, SVP of Corporate Citizenship for PSEG, the state’s largest public utility, told hundreds of business leaders at NJBIA’s recent Energy Policy Conference.
As the state moves away from the fossil fuels that have traditionally powered cars and heated buildings, the demand for electricity in New Jersey will more than double because of all the new electric vehicles and buildings with electrified heating, Thigpen said.
“Aligning our clean energy goals and grid planning is absolutely essential,” Thigpen said, and this long-range planning must be done wisely and carefully. “We have the kind of expertise that the people in New Jersey can count on in order to make this transition work,” he said.
To ensure success, the electric grid and energy system must remain reliable and affordable, Thigpen said. “If we sacrifice either one of those, that transition will be set back enormously,” he said.
Nuclear power, which produces no greenhouse gases during plant operations, must also be preserved to achieve clean energy goals, he said.
The good news is that New Jersey is starting its clean energy journey from a favorable position. The state’s carbon footprint – the amount of carbon dioxide and other carbon compounds emitted due to the consumption of fossil fuels – is only about half the national average, Thigpen said.
The bad news is New Jersey’s carbon footprint is still double the international average, he said.
From a global perspective, New Jersey and the rest of the United States have a long way to go, but persuading people to make big lifestyle changes – such as living in smaller, energy-efficient houses and driving rechargeable electric vehicles – is the challenge, he said.
“We certainly want to be a part of advocating for cleaner generation and there’s a lot going on in New Jersey in that area – and there’s some controversy around it,” Thigpen said. “But there is no doubt that spending all the money we want to electrify and upgrade the grid is not going to do anything for our environment unless we do in fact to continue to make progress in reducing carbon emissions from generation.”
In the commercial sector, New Jersey’s business community has come a long way already through energy efficiencies and a reduced reliance on natural gas, Thigpen said. “In fact, the business community, from our understanding of total energy usage, about half of it is now electric already … and we at Public Service should be a part of helping them continue that trend.”
The politics and controversy that surrounds climate change issues also must be addressed, he said.
“As we steadily march toward clean energy goals, whether we’re going too fast or whether we’re going to slow is frankly in the hands of politicians,” Thigpen said.
PSEG’s job is to “implement public policy … to understand what needs to be done so when policymakers who care and stakeholders who care want to talk to us, they will get responsible, educated opinions about how we can navigate this transition together.”
To watch Thigpen’s entire presentation, “Navigating the Energy Transition,” at the 3rd Annual NJBIA Energy Policy Conference on Oct. 10, go here.
