How The Obama Climate Plan Will Grow New Energy

How the Clean Power Plan Can Accelerate Renewable Energy and Efficiency

Jeff Deyette, March 24, 2016 (Union of Concerned Scientists)

“…New wind and solar development outpaced fossil fuels in 2015 for the second straight year, and both technologies are on track to reach new heights this year…[and] power generation at U.S. coal plants in 2015 was at its lowest levels than any year since 1984…Now, a new UCS analysis highlights how the Clean Power Plan can help states accelerate this transition…Under the CPP National Trading Case, renewable energy accounts for 21 percent of the power supply in 2030, while savings from energy efficiency investments are equivalent to 7 percent of total electricity sales…Diversifying the power supply with more renewable energy and efficiency also limits the consumer impacts from increases in fossil fuel prices…By setting a carbon cap and issuing allowances equal to state CPP targets, auctioning those allowances, and participating in an interstate carbon trading program, states can generate a combined average annual revenue of $17.8 billion from 2022 to 2030…These revenues could then be used to offset higher near-term consumer electricity bills or be reinvested for public benefit…Newly extended federal tax credits for wind and solar can work together with the CPP to generate even greater near-term consumer, economic, and health benefits…” click here for more

click to enlarge

Tweet