We analyze policies to promote renewable sources of electricity. A renewable portfolio standard raises electricity prices and primarily reduces gas-fired generation. A “knee” of the cost curve exists between 15% and 20% goals for 2020 in our central case, and higher natural gas prices lower the cost of greater reliance on renewables. A renewable energy production tax credit lowers electricity price at the expense of taxpayers and thus limits its effectiveness in reducing carbon emissions; it also is less costeffective at increasing renewables than a portfolio standard. Neither policy is as cost-effective as a capand-trade policy for achieving carbon emissions reductions.
Media Highlight — Sep 19, 2021
This Powerful Democrat Linked to Fossil Fuels Will Craft the US Climate Plan
This front-page story for the New York Times features commentary by RFF President and CEO Richard Newell.
Common Resources — Sep 16, 2021
Under Construction: The Build Back Better Act
RFF experts assess early committee drafts of the Build Back Better Act, a far-reaching bill designed around the Senate’s unique reconciliation process that addresses clean energy and infrastructure spending.
Press Release — Sep 16, 2021
A Clean Electricity Performance Program and Tax Credits Could Drive Emissions Reductions—But Alone Are Not Enough to Meet US Climate Goals
New analysis from a team at Resources for the Future finds that a carbon price alongside a clean electricity performance program and clean energy tax credits could help the United States halve emissions–but without a carbon price or other substantial climate policies, reductions fall short.