Europe started implementing these initiatives a couple of decades ago, it makes sense there as they are a net importer, with residential prices around 3x higher than the US. In my country a newly built house (very low energy demand) is often cheaper to heat with a heat pump than natural gas, especially if combined with solar PV - but that's still more expensive than a home in the US.

The most impactful usages are transportation, as everywhere basically everything is transported by road, and renewable electricity generation, so fossil fuels can be used elsewhere (residential, industrial, etc).