Renewable Portfolio Standards (RPS) are the largest and perhaps most popular climate policy in the US, having been enacted by 29 states and the District of Columbia. Using the most comprehensive panel data set ever compiled on program characteristics and key outcomes, we compare states that did and did not adopt RPS policies, exploiting the substantial di↵erences in timing of adoption. The estimates indicate that 7 years after passage of an RPS program, the required renewable share of generation is 1.8 percentage points higher and average retail electricity prices are 1.3 cents per kWh, or 11% higher; the comparable figures for 12 years after adoption are a 4.2 percentage point increase in renewables’ share and a price increase of 2.0 cents per kWh or 17%. These cost estimates significantly exceed the marginal operational costs of renewables and likely reflect costs that renewables impose on the generation system, including those associated with their intermittency, higher transmission costs, and any stranded asset costs assigned to ratepayers. The estimated reduction in carbon emissions is imprecise, but, together with the price results, indicates that the cost per metric ton of CO2 abated exceeds $130 in all specifications and ranges up to $460, making it least several times larger than conventional estimates of the social cost of carbon. These results do not rule out the possibility that RPS policies could dynamically reduce the cost of abatement in the future by causing improvements in renewable technology.
Electricity rates in the UK have skyrocketed due to huge wind farms, and the poor have had to cut back on heating in the winter, causing rising winter deaths.
Green Europe is Killing 40,000 Poor People a Year!
Europe’s suicidal green energy policies are killing at least 40,000 people a year.
That’s just the number estimated to have died in the winter of 2014 because they were unable to afford fuel bills driven artificially high by renewable energy tariffs.
“How much does the Tesla solar roof cost?
According to Tesla, the average Tesla Solar Roof cost a property owner can expect to pay is around $21.85 per square foot. This estimate was made based on a roof made of 35 percent solar tiles. For example, if you need 2,000 square feet of roofing on your home, a Tesla Solar Roof will cost a little less than $44,000 as a rough estimate.”
My sister lives in California served by PG&E. The estimate is the cost of electricity is going to skyrocket, up double AT LEAST after the roughly 30 billion in lawsuits over the big fires there. A LOT of people will be putting in solar as it will be a way to avoid the huge price increases. This is already happening in South Australia where green politicians have installed wind farms and destroyed their cheap coal plants. Electricity there is tripple the US rate at over 30 cents a KWH.
‘Renewables Are Cheap’ Myth Busted: Full Cost of Wind & Solar Simply Staggering
“In South Australia, recent rises in wholesale prices are the result of a combination of state-specific factors and broader policies that specifically pertain to the state. These include:
the high share of wind energy in electricity generation that displaces other sources of generation when conditions are favourable”