A retrospective analysis of benefits and impacts of U.S. renewable portfolio standards. (September 2016)

• Record Type: Journal Article
• Authors: Barbose, Galen; Wiser, Ryan; Heeter, Jenny; Mai, Trieu; Bird, Lori; Bolinger, Mark; Carpenter, Alberta; Heath, Garvin; Keyser, David; Macknick, Jordan; Mills, Andrew; Millstein, Dev
• Is Part Of: Energy policy. Volume 96(2016)
• Page Start: 645
• Page End: 660
• Publication Date: 2016-09
• Subjects: AP2 Air Pollution Emission Experiments and Policy analysis model (formerly APEEP) -- AVERT AVoided Emissions and geneRation Tool -- CO2 Carbon dioxide -- CO2e Carbon dioxide equivalent -- CPP Clean Power Plan -- DOE U.S. Department of Energy -- EIA U.S. Energy Information Administration -- EPA U.S. Environmental Protection Agency -- FTE Full-time equivalent -- GDP Gross domestic product -- GHG Greenhouse gas -- IWG Interagency Working Group -- JEDI Jobs and Economic Development Impacts model -- LSE Load-serving entities -- MT Metric ton(s) -- NEMS National Energy Modeling System -- NOx Nitrogen oxides -- NREL National Renewable Energy Laboratory -- O&M Operations and maintenance -- PM2.5 Fine particulate matter -- PV Photovoltaic(s) -- RE Renewable electricity -- REC Renewable energy certificate -- RPS Renewable portfolio standards -- SCC Social cost of carbon -- SO2 Sulfur dioxide -- TWh Terawatt-hour(s) -- VSL Value of statistical life; Renewable energy -- RPS -- Renewable portfolio standard -- Greenhouse gas, air pollution, water use; Energy policy -- Periodicals; Politique énergétique -- Périodiques; Electronic journals; 333.79
• DOI: 10.1016/j.enpol.2016.06.035
• Languages: English
• ISSNs: 0301-4215

Abstract

Abstract: 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. Highlights: Benefits of satisfying U. S. renewable portfolio standards in 2013 were evaluated. Carbon dioxide (equivalent) was cut by 59 million metric tons (worth $2.2 billion). Reduced air pollution provided $5.2 billion in health and environmental benefits. Water withdrawals (830 billion gal) and consumption (27 billion gal) were reduced. Job/economic, electricity price, and natural gas price impacts were also evaluated.