01.08.16
A new study by researchers from the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and Lawrence Berkeley National Laboratory (Berkeley Lab) estimates that $2.2 billion in benefits came from reduced greenhouse gas emissions and $5.2 billion from reductions in other air pollution, in mid-range estimates, for state renewable portfolio standard (RPS) policies operating in 2013.
A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards also shows national water withdrawals and water consumption by fossil fuel plants were reduced by 830 billion gallons and 27 billion gallons in 2013, respectively.
In addition to environmental benefits, the study estimates that RPS policies supported 200,000 renewable energy-related jobs in 2013. Renewable energy jobs from RPS projects were concentrated mostly in California, where large amounts of utility-scale photovoltaic generation were being built in 2013.
RPS generation can displace gas-fired generation, which places downward pressure on natural gas prices; RPS generation also can lower wholesale electricity prices by “pushing out” the supply curve. These impacts saved consumers up to $1.2 billion from reduced wholesale electricity prices and another $1.3 to $3.7 billion from reduced natural gas prices.
A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards also shows national water withdrawals and water consumption by fossil fuel plants were reduced by 830 billion gallons and 27 billion gallons in 2013, respectively.
In addition to environmental benefits, the study estimates that RPS policies supported 200,000 renewable energy-related jobs in 2013. Renewable energy jobs from RPS projects were concentrated mostly in California, where large amounts of utility-scale photovoltaic generation were being built in 2013.
RPS generation can displace gas-fired generation, which places downward pressure on natural gas prices; RPS generation also can lower wholesale electricity prices by “pushing out” the supply curve. These impacts saved consumers up to $1.2 billion from reduced wholesale electricity prices and another $1.3 to $3.7 billion from reduced natural gas prices.