The Tennessee Valley Authority’s (TVA) Board of Directors on May 6 approved a resolution that endorses a document establishing a series of decarbonization milestones over the next three decades for TVA.
At its quarterly business meeting, the TVA board approved a resolution endorsing TVA’s Strategic Intent and Guiding Principles.
TVA said that by 2030, it will focus on growing its current 63% carbon reduction to 70% by:
- Continuing to expand renewable generation, including 2,300 megawatts that is already committed and will be online by 2023;
- Expanding battery storage capacity as technology develops and costs decline;
- Further reducing coal generation as plants reach the end of their service lives. TVA’s current planning assumptions indicate the retirement of all coal units by 2035; and
- Leveraging natural gas generating facilities as a bridging strategy to effectively allow the addition of more renewable energy without impacting system reliability
Specific plans to achieve this milestone, including any decisions affecting existing or new facilities, will be developed over the coming months and will include detailed environmental assessments that will seek public input before any actions are taken, TVA said.
TVA said it has a path to an 80% reduction by 2035 with up to 10,000 MW of solar capacity online and continued investment in extending the lives of its current nuclear and hydro fleets, as well as the integrated systems needed to support the energy system of the future, while moving toward an aspirational goal of net-zero carbon emissions by 2050.
TVA noted that since 2005, it has reduced carbon emissions by 63% primarily through the creation of a diverse generation portfolio, which includes adding 1,600 MW of new nuclear capacity, an additional 1,600 MW of wind and solar capacity, retiring 8,600 MW of coal capacity that was at the end of its useful life by the end of 2023 and investing more than $400 million to promote energy efficiency.