Keynote address: Reinventing fire: Physics + markets = energy solutions

Rocky Mountain Institute's multi-year, 61-author, peer-reviewed Reinventing Fire synthesis showed how the U.S. can realistically run a 2.6× bigger U.S. economy in 2050 with no oil, coal, or nuclear energy, one-third less natural gas, tripled efficiency, and 74% renewable supplies (80% for electricity). This transition, at historically reasonable rates, could be led by business for profit, applying normal rates of return, with some innovative subnational and administrative policies but no Acts of Congress. Excluding carbon emissions and all other externalities, the net present value would be $5 trillion more favorable than business-as-usual, averaging a 14% Internal Rate of Return.