Assessing the costs and benefits of US renewable portfolio standards
Bibliographic Data
| ID | 15544802 |
|---|---|
| Authors | Ryan Wiser (0000-0002-2540-1092, Lawrence Berkeley National Laboratory, corresponding author), Trieu Mai (0000-0003-1751-3892, National Laboratory of the Rockies), Dev Millstein (0000-0002-8091-0535, Lawrence Berkeley National Laboratory), Galen Barbose (0000-0003-4687-2309, Lawrence Berkeley National Laboratory), Lori Bird (0000-0002-9190-4333, National Laboratory of the Rockies), Jenny Heeter (0000-0003-4768-6663, National Laboratory of the Rockies), David Keyser (National Laboratory of the Rockies), Venkat Krishnan (0000-0002-7788-0670, National Laboratory of the Rockies), Jordan Macknick (0000-0001-5565-8879, National Laboratory of the Rockies) |
| Year | 2017 |
| Volume | 12 |
| Issue | 9 |
| Pages | 094023-094023 |
| Publication date | 2017-09-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Environmental Research Letters (JOURNAL) |
| Journal identifiers | ISSN: 1748-9326 • E-ISSN: 1748-9326 |
| Publisher | IOP Publishing (PUBLISHER • GB) |
| DOI | 10.1088/1748-9326/aa87bd |
| OpenAlex | W2759677496 |
| Language | EN |
| Citations received | 5 |
| References cited | 6 |
Renewable portfolio standards (RPS) exist in 29 US states and the District of Columbia. This article summarizes the first national-level, integrated assessment of the future costs and benefits of existing RPS policies; the same metrics are evaluated under a second scenario in which widespread expansion of these policies is assumed to occur. Depending on assumptions about renewable energy technology advancement and natural gas prices, existing RPS policies increase electric system costs by as much as $31 billion, on a present-value basis over 2015−2050. The expanded renewable deployment scenario yields incremental costs that range from $23 billion to $194 billion, depending on the assumptions employed. The monetized value of improved air quality and reduced climate damages exceed these costs. Using central assumptions, existing RPS policies yield $97 billion in air-pollution health benefits and $161 billion in climate damage reductions. Under the expanded RPS case, health benefits total $558 billion and climate benefits equal $599 billion. These scenarios also yield benefits in the form of reduced water use. RPS programs are not likely to represent the most cost effective path towards achieving air quality and climate benefits. Nonetheless, the findings suggest that US RPS programs are, on a national basis, cost effective when considering externalities
Air quality index · Business · Climate change · Cost–benefit analysis · Damages · Economics · Environmental economics · Externality · Microeconomics · Natural gas · Natural gas prices · Natural resource economics · Portfolio · Renewable energy · Yield (engineering · Climate Change Policy and Economics · Energy and Environment Impacts · Engineering · Social Acceptance of Renewable Energy · Finance
Assessing spatial consumer preferences for renewable portfolio standards considering energy mix and water consumption
Seizing the policy opportunities for health- and equity-improving energy decisions
Supporting energy technology deployment while avoiding unintended technological lock-in
The global climate value of offshore wind energy
Renewable Portfolio Standards and Policy Stringency
| Unique citing works | 5 |
|---|---|
| Citations per year | 0,63 |
| Citation span | 2018 - 2026 (9) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 5 |