Multi-Year Analysis Examines Costs, Benefits, and Impacts of Renewable Portfolio Standards
Multi-Year Analysis Examines Costs, Benefits, and Impacts of Renewable Portfolio Standards

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Published: 2016

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As states consider revising renewable portfolio standard (RPS) programs or developing new ones, careful assessments of the costs, benefits, and other impacts of existing policies will be critical. RPS programs currently exist in 29 states and Washington, D.C. Many of these policies, which were enacted largely during the late 1990s and 2000s, will reach their terminal targets by the end of this decade. The National Renewable Energy Laboratory (NREL) and Lawrence Berkeley National Laboratory (LBNL) are engaged in a multi-year project to examine the costs, benefits, and other impacts of state RPS polices both retrospectively and prospectively. This fact sheet overviews this work.

Future Costs, Benefits, and Impacts of Renewables Used to Meet U.S. Renewable Portfolio Standards
Future Costs, Benefits, and Impacts of Renewables Used to Meet U.S. Renewable Portfolio Standards

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Published: 2016

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This brochure provides a brief overview of the report titled 'A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards.' The report evaluates the future costs, benefits, and other impacts of renewable energy used to meet current state renewable portfolio standards (RPSs). It also examines a future scenario where RPSs are expanded. The analysis examines changes in electric system costs and retail electricity prices, which include all fixed and operating costs, including capital costs for all renewable, non-renewable, and supporting (e.g., transmission and storage) electric sector infrastructure; fossil fuel, uranium, and biomass fuel costs; and plant operations and maintenance expenditures. The analysis evaluates three specific benefits: air pollution, greenhouse gas emissions, and water use. It also analyzes two other impacts, renewable energy workforce and economic development, and natural gas price suppression. The analysis finds that the benefits or renewable energy used to meet RPS polices exceed the costs, even when considering the highest cost and lowest benefit outcomes.

A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards
A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards

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Published: 2016

Total Pages: 0

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This report evaluates the future costs, benefits, and other impacts of renewable energy used to meet current state renewable portfolio standards (RPSs). It also examines a future scenario where RPSs are expanded. The analysis examines changes in electric system costs and retail electricity prices, which include all fixed and operating costs, including capital costs for all renewable, non-renewable, and supporting (e.g., transmission and storage) electric sector infrastructure; fossil fuel, uranium, and biomass fuel costs; and plant operations and maintenance expenditures. The analysis evaluates three specific benefits: air pollution, greenhouse gas emissions, and water use. It also analyzes two other impacts, renewable energy workforce and economic development, and natural gas price suppression. This analysis finds that the benefits or renewable energy used to meet RPS polices exceed the costs, even when considering the highest cost and lowest benefit outcomes.

Prospective Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards
Prospective Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards

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Published: 2017

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These slides were presented at a webinar on January 9, 2017. The slides overview a report that evaluates the future costs, benefits, and other impacts of renewable energy used to meet current state renewable portfolio standards (RPSs). It also examines a future scenario where RPSs are expanded. The analysis examines changes in electric system costs and retail electricity prices, which include all fixed and operating costs, including capital costs for all renewable, non-renewable, and supporting (e.g., transmission and storage) electric sector infrastructure; fossil fuel, uranium, and biomass fuel costs; and plant operations and maintenance expenditures. The analysis evaluates three specific benefits: air pollution, greenhouse gas emissions, and water use. It also analyzes two other impacts, renewable energy workforce and economic development, and natural gas price suppression. The analysis finds that the benefits or renewable energy used to meet RPS polices exceed the costs, even when considering the highest cost and lowest benefit outcomes.

Future Costs, Benefits, and Impacts of Renewables Used to Meet U.S. Renewable Portfolio Standards
Future Costs, Benefits, and Impacts of Renewables Used to Meet U.S. Renewable Portfolio Standards

Author:

Publisher:

Published: 2016

Total Pages: 0

ISBN-13:

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This brochure provides a brief overview of the report titled 'A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards.' The report evaluates the future costs, benefits, and other impacts of renewable energy used to meet current state renewable portfolio standards (RPSs). It also examines a future scenario where RPSs are expanded. The analysis examines changes in electric system costs and retail electricity prices, which include all fixed and operating costs, including capital costs for all renewable, non-renewable, and supporting (e.g., transmission and storage) electric sector infrastructure; fossil fuel, uranium, and biomass fuel costs; and plant operations and maintenance expenditures. The analysis evaluates three specific benefits: air pollution, greenhouse gas emissions, and water use. It also analyzes two other impacts, renewable energy workforce and economic development, and natural gas price suppression. The analysis finds that the benefits or renewable energy used to meet RPS polices exceed the costs, even when considering the highest cost and lowest benefit outcomes.

A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards
A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards

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Published: 2016

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This is the second in a series of reports exploring the costs, benefits, and other impacts of state renewable portfolio standards (RPS), both retrospectively and prospectively. This report focuses on the benefits and impacts of all state RPS programs, in aggregate, for the year 2013 (the most-recent year for which the requisite data were available). Relying on a well-vetted set of methods, the study evaluates a number of important benefits and impacts in both physical and monetary terms, where possible, and characterizes key uncertainties. The prior study in this series focused on historical RPS compliance costs, and future work will evaluate costs, benefits, and other impacts of RPS policies prospectively.

Is it Worth It? A Comparative Analysis of Cost-Benefit Projectionsfor State Renewables Portfolio Standards
Is it Worth It? A Comparative Analysis of Cost-Benefit Projectionsfor State Renewables Portfolio Standards

Author: Mark Bolinger

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Published: 2006

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State renewables portfolio standards (RPS) have emerged as one of the most important policy drivers of renewable energy capacity expansion in the U.S. Collectively, these policies now apply to almost 40% of U.S. electricity load, and may have substantial impacts on electricity markets, ratepayers, and local economies. As RPS policies have been proposed or adopted in an increasing number of states, a growing number of studies have attempted to quantify the potential impacts of these policies, focusing primarily on projecting cost impacts, but sometimes also estimating macroeconomic and environmental effects. This report synthesizes and analyzes the results and methodologies of twenty-six distinct state or utility-level RPS cost impact analyses completed since 1998 (see Figure 1 and Appendix for a complete list of the studies). Together, these studies model proposed or adopted RPS policies in seventeen different states. We highlight the key findings of these studies on the costs and benefits of RPS policies, examine the sensitivity of projected costs to model assumptions, assess the attributes of different modeling approaches, and suggest possible areas of improvement for future RPS analysis.

Weighing the Costs and Benefits of Renewables Portfolio Standards
Weighing the Costs and Benefits of Renewables Portfolio Standards

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Published: 2007

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State renewables portfolio standards (RPS) have emerged as one of the most important policy drivers of renewable energy capacity expansion in the U.S. Collectively, these policies now apply to roughly 40% of U.S. electricity load, and may have substantial impacts on electricity markets, ratepayers, and local economies. As RPS policies have been proposed or adopted in an increasing number of states, a growing number of studies have attempted to quantify the potential impacts of these policies, focusing primarily on projecting cost impacts, but sometimes also estimating macroeconomic and environmental effects. This report synthesizes and analyzes the results and methodologies of 28 distinct state or utility-level RPS cost impact analyses completed since 1998. Together, these studies model proposed or adopted RPS policies in 18 different states. We highlight the key findings of these studies on the costs and benefits of RPS policies, examine the sensitivity of projected costs to model assumptions, assess the attributes of different modeling approaches, and suggest possible areas of improvement for future RPS analysis.

A Retrospective Analysis of Benefits and Impacts of U.S. Renewable Portfolio Standards
A Retrospective Analysis of Benefits and Impacts of U.S. Renewable Portfolio Standards

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Publisher:

Published: 2016

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As states consider revising or developing renewable portfolio standards (RPS), they are evaluating policy costs, benefits, and other impacts. We present the first U.S. national-level assessment of state RPS program benefits and impacts, focusing on new renewable electricity resources used to meet RPS compliance obligations in 2013. In our central-case scenario, reductions in life-cycle greenhouse gas emissions from displaced fossil fuel-generated electricity resulted in $2.2 billion of global benefits. Health and environmental benefits from reductions in criteria air pollutants (sulfur dioxide, nitrogen oxides, and particulate matter 2.5) were even greater, estimated at $5.2 billion in the central case. Further benefits accrued in the form of reductions in water withdrawals and consumption for power generation. Finally, although best considered resource transfers rather than net societal benefits, new renewable electricity generation used for RPS compliance in 2013 also supported nearly 200,000 U.S.-based gross jobs and reduced wholesale electricity prices and natural gas prices, saving consumers a combined $1.3-$4.9 billion. In total, the estimated benefits and impacts well-exceed previous estimates of RPS compliance costs.