U.S. renewable energy mandates bring down fossil fuel use, power costs

State-level Renewable Portfolio Standards (RPS, also called Renewable Energy Standards) have been perhaps the most important and effective policy tool utilized in the United States to increase deployment of renewable energy. 29 states and Washington DC currently have RPS policies. These vary greatly in ambition, with Hawaii (100% by 2045) California (50% by 2030) and New York's 50% by 2030 pledge leading the pack. A new report by the U.S. Department of Energy's National Renewable Energy Laboratories (NREL) and Berkeley Laboratory attempts to broadly quantify the impacts of these policies across a range of areas. These include reductions in fossil fuel use and avoided greenhouse gases, effects on wholesale electricity prices, reductions in water use, employment and cost to utilities and ratepayers. A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards finds that RPS- compliant systems made up 2.4% of nationwide electricity generation in 2013. This created 200,000 jobs, reduced wholesale electricity prices and reduced fossil fuel generation by 3.6%, resulting in 59 million metric tons fewer greenhouse gas emissions. This did not come for free. A previous study found $1 billion in RPS compliance costs annually, which varied greatly from state to ...

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