Summary/Abstract
This study estimates the climate damages that would result from the power sector’s greenhouse gas emissions from 2025-2035, if unabated. The analysis relies on power sector emissions projections from REPEAT Project and the National Renewable Energy Laboratory (NREL) Standard Scenarios. It also develops a quadratic relationship between historical cumulative power sector emissions since 1973 and the annual percent damages to U.S. Gross Domestic Product.
The study projects that climate damages will cost at least $11.1 billion as a result of the power sector’s unabated greenhouse gas emissions from 2025-2035. However, the study notes that this is likely a “severe underestimate” of climate damages that will accrue to the United States because the calculation does not include future damages (those that occur after 2035 as a result of the emissions during 2025-2035); damages resulting from emissions after 2035; or damages from impacts.
The underlying dataset is available here.