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The New Energy Economy: Christopher Gould
Head of Corporate Strategy, Chief Innovation & Sustainability Officer, Exelon
Chris Gould is the Chief Innovation and Sustainability Officer at Exelon, the largest, most innovative utility company in the US. He contextualized his presentation about reaching net carbon neutrality by 2050 with riveting stories and photographs from his recent trip to Antarctica, discussing how all possible pathways to decarbonization include widespread electrification, the electric grid, and a dramatic shift to a new energy economy. Gould demonstrated the enormous scale of the Antarctic ice shelf to help participants imagine the change the planet faces on a business-as-usual pathway. He then described the Antarctic energy transition from whale oil to kerosene for heating, making the transition to better energy sources the heart of his discussion. Gould emphasized the need for massive investments ($50 trillion over the next 30 years according to Morgan Stanley) into innovation for better, cheaper, and more sustainable energy sources. In the meantime, Exelon has committed to electrify 50% of its fleet by 2030. Gould called for “fearless leadership” in the energy transition, like that of Ernest Shackelton, a hero of Antarctic exploration.
Exelon is at the forefront of this burgeoning new energy economy with its $20 million impact investment into 2c2i, Exelon’s startup accelerator, 2c2i, takes early stage technologies to market and meets local sustainability goals. The utility is also engaged in both formal and informal coalitions among utility companies and other sectors to decarbonize the economy, and it actively advocates for the preservation of nuclear plants, a carbon price, and energy efficiency measures to accompany widespread electrification.
But is Exelon’s “fearless leadership” in the utility sector enough? 2050 may be too far away for significant impact and perhaps there needs to be even more urgency communicated by those in leadership positions. Gould emphasized the necessity of decarbonizing all sectors of the economy with revolutionary energy innovation in renewables, storage, carbon capture, nuclear energy, and clean natural gas. He touched on the importance of policy that encourages innovation and energy entrepreneurship, of providing customer centric and regional solutions as a utility, and of aligning the interests of utility shareholders with the interests of the community.
The conversation on the transition to the new energy economy did not address the importance of political will and larger environmental, economic, equity, innovation, and trade policy questions. For lasting change in the new energy economy, the role of government and activism must be considered alongside private sector initiatives.
Session summary by SISE Fellows Karan Chauhan and Amy Heldman
Exelon is at the forefront of this burgeoning new energy economy with its $20 million impact investment into 2c2i, Exelon’s startup accelerator, 2c2i, takes early stage technologies to market and meets local sustainability goals. The utility is also engaged in both formal and informal coalitions among utility companies and other sectors to decarbonize the economy, and it actively advocates for the preservation of nuclear plants, a carbon price, and energy efficiency measures to accompany widespread electrification.
But is Exelon’s “fearless leadership” in the utility sector enough? 2050 may be too far away for significant impact and perhaps there needs to be even more urgency communicated by those in leadership positions. Gould emphasized the necessity of decarbonizing all sectors of the economy with revolutionary energy innovation in renewables, storage, carbon capture, nuclear energy, and clean natural gas. He touched on the importance of policy that encourages innovation and energy entrepreneurship, of providing customer centric and regional solutions as a utility, and of aligning the interests of utility shareholders with the interests of the community.
The conversation on the transition to the new energy economy did not address the importance of political will and larger environmental, economic, equity, innovation, and trade policy questions. For lasting change in the new energy economy, the role of government and activism must be considered alongside private sector initiatives.
Session summary by SISE Fellows Karan Chauhan and Amy Heldman
