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The Costs And Benefits Of Compliance With Renewable Portfolio Standards
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Book Synopsis The Costs and Benefits of Compliance with Renewable Portfolio Standards by :
Download or read book The Costs and Benefits of Compliance with Renewable Portfolio Standards written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: More than half of U.S. states have renewable portfolio standards (RPS) in place and have collectively deployed approximately 46,000 MW of new renewable energy capacity through year-end 2012. Most of these policies have five or more years of implementation experience, enabling an assessment of their costs and benefits. Understanding RPS benefits and costs is essential for policymakers evaluating existing RPS policies, assessing the need for modifications, and considering new policies. A key aspect of this study is the comprehensive review of existing RPS cost and benefit estimates, in addition to an examination of the variety of methods used to calculate such estimates. Based on available data and estimates reported by utilities and regulators, this study summarizes RPS costs to date. The study considers how those costs may evolve going forward, given scheduled increases in RPS targets and cost containment mechanisms incorporated into existing policies. The report also summarizes RPS benefits estimates, based on published studies for individual states, and discusses key methodological considerations.
Book Synopsis Survey of State-Level Cost and Benefit Estimates of Renewable Portfolio Standards by :
Download or read book Survey of State-Level Cost and Benefit Estimates of Renewable Portfolio Standards written by and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most renewable portfolio standards (RPS) have five or more years of implementation experience, enabling an assessment of their costs and benefits. Understanding RPS costs and benefits is essential for policymakers evaluating existing RPS policies, assessing the need for modifications, and considering new policies. This study provides an overview of methods used to estimate RPS compliance costs and benefits, based on available data and estimates issued by utilities and regulators. Over the 2010-2012 period, average incremental RPS compliance costs in the United States were equivalent to 0.8% of retail electricity rates, although substantial variation exists around this average, both from year-to-year and across states. The methods used by utilities and regulators to estimate incremental compliance costs vary considerably from state to state and a number of states are currently engaged in processes to refine and standardize their approaches to RPS cost calculation. The report finds that state assessments of RPS benefits have most commonly attempted to quantitatively assess avoided emissions and human health benefits, economic development impacts, and wholesale electricity price savings. Compared to the summary of RPS costs, the summary of RPS benefits is more limited, as relatively few states have undertaken detailed benefits estimates, and then only for a few types of potential policy impacts. In some cases, the same impacts may be captured in the assessment of incremental costs. For these reasons, and because methodologies and level of rigor varywidely, direct comparisons between the estimates of benefits and costs are challenging.
Book Synopsis A Survey of State-level Cost and Benefit Estimates of Renewable Portfolio Standards by : Jenny Heeter
Download or read book A Survey of State-level Cost and Benefit Estimates of Renewable Portfolio Standards written by Jenny Heeter and published by . This book was released on 2014 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most renewable portfolio standards (RPS) have five or more years of implementation experience, enabling an assessment of their costs and benefits. Understanding RPS costs and benefits is essential for policymakers evaluating existing RPS policies, assessing the need for modifications, and considering new policies. This study provides an overview of methods used to estimate RPS compliance costs and benefits, based on available data and estimates issued by utilities and regulators. Over the 2010-2012 period, average incremental RPS compliance costs in the United States were equivalent to 0.8% of retail electricity rates, although substantial variation exists around this average, both from year-to-year and across states. The methods used by utilities and regulators to estimate incremental compliance costs vary considerably from state to state and a number of states are currently engaged in processes to refine and standardize their approaches to RPS cost calculation. The report finds that state assessments of RPS benefits have most commonly attempted to quantitatively assess avoided emissions and human health benefits, economic development impacts, and wholesale electricity price savings. Compared to the summary of RPS costs, the summary of RPS benefits is more limited, as relatively few states have undertaken detailed benefits estimates, and then only for a few types of potential policy impacts. In some cases, the same impacts may be captured in the assessment of incremental costs. For these reasons, and because methodologies and level of rigor vary widely, direct comparisons between the estimates of benefits and costs are challenging.
Book Synopsis A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards by :
Download or read book A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis A Retrospective Analysis of Benefits and Impacts of U.S. Renewable Portfolio Standards by :
Download or read book A Retrospective Analysis of Benefits and Impacts of U.S. Renewable Portfolio Standards written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards by :
Download or read book Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards written by and published by . This book was released on 2016 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This analysis is the first-ever comprehensive assessment of the benefits and impacts of state renewable portfolio standards (RPSs). This joint National Renewable Energy Laboratory-Lawrence Berkeley National Laboratory project provides a retrospective analysis of RPS program benefits and impacts, including greenhouse gas emissions reductions, air pollution emission reductions, water use reductions, gross jobs and economic development impacts, wholesale electricity price reduction impacts, and natural gas price reduction impacts. Wherever possible, benefits and impacts are quantified in monetary terms. The paper will inform state policymakers, RPS program administrators, industry, and others about the costs and benefits of state RPS programs. In particular, the work seeks to inform decision-making surrounding ongoing legislative proposals to scale back, freeze, or expand existing RPS programs, as well as future discussions about increasing RPS targets or otherwise increasing renewable energy associated with Clean Power Plan compliance or other emission-reduction goals.
Book Synopsis Market and Welfare Effects of Renewable Portfolio Standard in the U.S. Compliance and Voluntary Green Power Markets by : Suparna Bhattacharya
Download or read book Market and Welfare Effects of Renewable Portfolio Standard in the U.S. Compliance and Voluntary Green Power Markets written by Suparna Bhattacharya and published by . This book was released on 2014 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Renewable Portfolio Standard (RPS) has been one of the popular policy instruments adopted by many states in the U.S. to combat climate change, emissions and higher energy prices. This paper develops an applied-theoretic model to analyze the economic effects of RPS while considering the empirically relevant (i) interaction of compliance with voluntary green power markets, (ii) differences in consumer preferences, and (iii) imperfect competition among the electricity suppliers. The market and welfare effects of RPS are shown to be case-specific and dependent on the relative magnitude of the associated cost and utility effects of RPS, the strength of consumer preference for green energy, the suppliers' costs before RPS, and the market power of the suppliers in compliance and voluntary markets. Simulation results indicate that regular power prices increase while green power prices decrease in NERC regions. The demand for regular and green power increase/decrease depending on the specific cases examined in the study. While welfare gains of green power consumers are evident from the study, welfare of regular power consumers is case sensitive and can increase/decrease with the policy. Green power suppliers (with/without market power) are always losers from the policy. Profits of regular power suppliers with market power are case dependent and likely to increase with higher consumer preference for regular power. Public utility firms, competitive firms or firms having Bertrand price competition, who are unable to exercise market power in the compliance market are likely to be losers from this policy. Voluntary market participation can increase with RPS. The higher the cost of the regular power with RPS, the higher is the likelihood that consumers will purchase green power and realize welfare gains from reduced price in the voluntary market.
Download or read book Renewable Portfolio Standards written by and published by . This book was released on 2014 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report summarizes state-level RPS costs to date, and considers how those costs may evolve going forward given scheduled increases in RPS targets and cost containment mechanisms. The report also summarizes RPS benefits estimates, based on published studies for individual states and discusses key methodological considerations.
Book Synopsis A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards by :
Download or read book A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards written by and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Future Costs, Benefits, and Impacts of Renewables Used to Meet U.S. Renewable Portfolio Standards by :
Download or read book Future Costs, Benefits, and Impacts of Renewables Used to Meet U.S. Renewable Portfolio Standards written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Prospective Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards by :
Download or read book Prospective Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards written by and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Reconciling Renewable Portfolio Standards and Feed-In Tariffs by : Lincoln L. Davies
Download or read book Reconciling Renewable Portfolio Standards and Feed-In Tariffs written by Lincoln L. Davies and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, renewable portfolio standards (“RPSs”) dominate as the renewable energy policy tool of choice. Feed-in tariffs (“FITs”), common in Europe and other parts of the world, thus have come to be seen by many policymakers as a binary alternative -- to promote renewable energy, they assume they must choose either RPSs or FITs, not both. This article challenges that presumption. It outlines how RPSs and FITs can be used in tandem, laying out the ways using these policy tools together may be synergistic. RPSs and FITs have different strengths. RPSs offer greater policy clarity, whereas there is some evidence that FITs are more effective and efficient. RPSs and FITs also target different segments of industry: RPSs utilities, FITs energy producers. Thus, using RPSs and FITs together may produce a number of benefits: (1) a stronger signal of governmental support for renewable energy, (2) a broader scope of applicability, (3) greater policy clarity, (4) better policy planning, (5) greater effectiveness, (6) simpler compliance, and, potentially, (7) lower implementation costs.
Book Synopsis Costs and Benefits of Renewables Portfolio Standards in the United States by :
Download or read book Costs and Benefits of Renewables Portfolio Standards in the United States written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Renewable Portfolio Standards: Costs and Benefits by :
Download or read book Renewable Portfolio Standards: Costs and Benefits written by and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report summarizes state-level RPS costs to date, and considers how those costs may evolve going forward given scheduled increases in RPS targets and cost containment mechanisms. The report also summarizes RPS benefits estimates, based on published studies for individual states and discusses key methodological considerations.
Book Synopsis Multi-Year Analysis Examines Costs, Benefits, and Impacts of Renewable Portfolio Standards by :
Download or read book Multi-Year Analysis Examines Costs, Benefits, and Impacts of Renewable Portfolio Standards written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Weighing the Costs and Benefits of State Renewables Portfolio Standards in the United States by :
Download or read book Weighing the Costs and Benefits of State Renewables Portfolio Standards in the United States written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: State renewables portfolio standards (RPS) have emerged as one of the most important policy drivers of renewable energy capacity expansion in the U.S. 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 cost impacts, but sometimes also estimating macroeconomic, risk reduction, and environmental effects. This article synthesizes and analyzes the results and methodologies of 31 distinct state or utility-level RPS cost-impact analyses completed since 1998. Together, these studies model proposed or adopted RPS policies in 20 different states. We highlight the key findings of these studies on the projected costs of state RPS policies, examine the sensitivity of projected costs to model assumptions, evaluate the reasonableness of key input assumptions, and suggest possible areas of improvement for future RPS analyses. We conclude that while there is considerable uncertainty in the study results, the majority of the studies project modest cost impacts. Seventy percent of the state RPS cost studies project retail electricity rate increases of no greater than one percent. Nonetheless, there is considerable room for improving the analytic methods, and therefore accuracy, of these estimates.
Book Synopsis Changing Resources, Changing Market by : Joshua P. Fershee
Download or read book Changing Resources, Changing Market written by Joshua P. Fershee and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Congress recently passed a new energy bill that, until that last minute, included provisions that would have established a national renewable portfolio standard (RPS). The RPS would have required electric utilities to procure a certain percentage of their electricity from renewable resources or purchase renewable energy credits from other sources to meet the standard. The recent energy bill is just the latest of repeated, and thus far failed, efforts to impose a national RPS. As such, there has been much debate about the potential merits and hazards of a national RPS, and more is sure to follow. Rather than joining this part of the policy debate, this Article considers the effects implementing a national RPS would have on the operation of the energy industry. More specifically, the Article considers what a national RPS would mean for electric utilities, regulators (state and federal), and consumers. The Article begins with an introduction to the most recent national RPS proposal, including a brief summary of both the program's goals and major criticisms of the proposal. This introduction also includes an overview of the current and pending state-level RPS standards. The Article then discusses the primary issues a national RPS would raise for key stakeholders. First, the Article considers what a national RPS would mean for electric utilities - focusing on necessary compliance activities and the possible effects on short- and long-term investment decisions - including infrastructure and RPS compliance sources. Next, the Article discusses the impacts on state and federal regulators, focusing on the development of a renewable energy credit tracking system, the enforcement of the national RPS, and the role regulators at each level will have in the process. Finally, the Article considers the impacts a national RPS could have on consumers with regard to short- and long-term electricity costs. The Article concludes that, although the implementation of any major policy initiative takes significant resources, the biggest hurdle facing a national RPS is political, not technological or economic.
