State renewable portfolio standards, the key policies driving renewable power growth across the United States, are under attack from opponents who say they increase electricity costs for consumers.
But a new report finds that any costs are far outweighed by the economic benefits derived from the environmental and health improvements that come with greening the energy mix in the 29 states that have adopted RPS targets.
That’s not counting the potential for billions of dollars in reduced natural-gas costs and wholesale electricity costs -- although these additional cost reductions come at the expense of the companies that make money on generating electricity from fossil fuels.
Wednesday’s report, A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards, found an average of $2.2 billion in economic benefits from reduced greenhouse gas emissions, and another $5.2 billion in benefits from reductions in sulfur dioxide and other air pollutants, for RPS programs in 2013.
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