NewEnergyNews: New Energy Bill Would Drive Energy Transition

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    Thursday, December 05, 2019

    New Energy Bill Would Drive Energy Transition

    An Assessment of the GREEN Act: Implications for Emissions and Clean Energy Deployment

    December 4, 2019 (Rhodium Group)

    “…[The Growing Renewable Energy and Efficiency Now (GREEN) Act] proposes to extend several tax credits for clean energy deployment and expand several others…[It may] be the best chance in this Congress to enact measures that can accelerate clean energy deployment and reduce greenhouse gas (GHG) emissions…[An independent analysis found the combined impact of the GREEN Act tax credits] drives deployment of key clean energy technologies across the US energy system, driving US net emissions down to as low as 19% below 2005 levels in 2030…

    The GREEN Act can catalyze deployment of up to nearly 60 gigawatts (GW) of new non-hydro renewable generation by 2030, compared to no extension of tax credits. The market share of these resources can at least double to 19-26% of total generation, up from 10% today…[And 3.4 to 5.7 million more electric vehicles would be] sold between today and 2030 in a scenario with extended EV tax credits…[That] would accelerate EVs to 38% of all light-duty vehicle sales in 2030, a significant increase from just 3% in 2018.” click here for more

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