The economic costs of reducing greenhouse gas emissions under a U.S. national renewable electricity mandate
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| Title: | The economic costs of reducing greenhouse gas emissions under a U.S. national renewable electricity mandate |
|---|---|
| Authors: | Crane, Keith1 kcrane@rand.org, Curtright, Aimee E.2, Ortiz, David S.2, Samaras, Constantine2, Burger, Nicholas1 |
| Source: | Energy Policy. May2011, Vol. 39 Issue 5, p2730-2739. 10p. |
| Subject Terms: | *Greenhouse gas mitigation, *Renewable energy sources, *Electricity, *Technology, *Coal-fired power plants, Direct costing, Cost analysis |
| Geographic Terms: | United States |
| Abstract: | Abstract: The electricity sector is the largest source of greenhouse gas emissions (GHGs) in the U.S. Many states have passed and Congress has considered Renewable Portfolio Standards (RPS), mandates that specific percentages of electricity be generated from renewable resources. We perform a technical and economic assessment and estimate the economic costs and net GHG reductions from a national 25 percent RPS by 2025 relative to coal-based electricity. This policy would reduce GHG emissions by about 670 million metric tons per year, 11 percent of 2008 U.S. emissions. The first 100 million metric tons could be abated for less than $36/metric ton. However, marginal costs climb to $50 for 300 million metric tons and to as much as $70/metric ton to fulfill the RPS. The total economic costs of such a policy are about $35 billion annually. We also examine the cost sensitivity to favorable and unfavorable technology development assumptions. We find that a 25 percent RPS would likely be an economically efficient method for utilities to substantially reduce GHG emissions only under the favorable scenario. These estimates can be compared with other approaches, including increased R&D funding for renewables or deployment of efficiency and/or other low-carbon generation technologies. [Copyright &y& Elsevier] |
| Copyright of Energy Policy is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | GreenFILE |
| FullText | Text: Availability: 0 |
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| Header | DbId: 8gh DbLabel: GreenFILE An: 59776036 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: The economic costs of reducing greenhouse gas emissions under a U.S. national renewable electricity mandate – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Crane%2C+Keith%22">Crane, Keith</searchLink><relatesTo>1</relatesTo><i> kcrane@rand.org</i><br /><searchLink fieldCode="AR" term="%22Curtright%2C+Aimee+E%2E%22">Curtright, Aimee E.</searchLink><relatesTo>2</relatesTo><br /><searchLink fieldCode="AR" term="%22Ortiz%2C+David+S%2E%22">Ortiz, David S.</searchLink><relatesTo>2</relatesTo><br /><searchLink fieldCode="AR" term="%22Samaras%2C+Constantine%22">Samaras, Constantine</searchLink><relatesTo>2</relatesTo><br /><searchLink fieldCode="AR" term="%22Burger%2C+Nicholas%22">Burger, Nicholas</searchLink><relatesTo>1</relatesTo> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Energy+Policy%22">Energy Policy</searchLink>. May2011, Vol. 39 Issue 5, p2730-2739. 10p. – Name: Subject Label: Subject Terms Group: Su Data: *<searchLink fieldCode="DE" term="%22Greenhouse+gas+mitigation%22">Greenhouse gas mitigation</searchLink><br />*<searchLink fieldCode="DE" term="%22Renewable+energy+sources%22">Renewable energy sources</searchLink><br />*<searchLink fieldCode="DE" term="%22Electricity%22">Electricity</searchLink><br />*<searchLink fieldCode="DE" term="%22Technology%22">Technology</searchLink><br />*<searchLink fieldCode="DE" term="%22Coal-fired+power+plants%22">Coal-fired power plants</searchLink><br /><searchLink fieldCode="DE" term="%22Direct+costing%22">Direct costing</searchLink><br /><searchLink fieldCode="DE" term="%22Cost+analysis%22">Cost analysis</searchLink> – Name: SubjectGeographic Label: Geographic Terms Group: Su Data: <searchLink fieldCode="DE" term="%22United+States%22">United States</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Abstract: The electricity sector is the largest source of greenhouse gas emissions (GHGs) in the U.S. Many states have passed and Congress has considered Renewable Portfolio Standards (RPS), mandates that specific percentages of electricity be generated from renewable resources. We perform a technical and economic assessment and estimate the economic costs and net GHG reductions from a national 25 percent RPS by 2025 relative to coal-based electricity. This policy would reduce GHG emissions by about 670 million metric tons per year, 11 percent of 2008 U.S. emissions. The first 100 million metric tons could be abated for less than $36/metric ton. However, marginal costs climb to $50 for 300 million metric tons and to as much as $70/metric ton to fulfill the RPS. The total economic costs of such a policy are about $35 billion annually. We also examine the cost sensitivity to favorable and unfavorable technology development assumptions. We find that a 25 percent RPS would likely be an economically efficient method for utilities to substantially reduce GHG emissions only under the favorable scenario. These estimates can be compared with other approaches, including increased R&D funding for renewables or deployment of efficiency and/or other low-carbon generation technologies. [Copyright &y& Elsevier] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Energy Policy is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1016/j.enpol.2011.02.042 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 10 StartPage: 2730 Subjects: – SubjectFull: Greenhouse gas mitigation Type: general – SubjectFull: Renewable energy sources Type: general – SubjectFull: Electricity Type: general – SubjectFull: Technology Type: general – SubjectFull: Coal-fired power plants Type: general – SubjectFull: Direct costing Type: general – SubjectFull: Cost analysis Type: general – SubjectFull: United States Type: general Titles: – TitleFull: The economic costs of reducing greenhouse gas emissions under a U.S. national renewable electricity mandate Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Crane, Keith – PersonEntity: Name: NameFull: Curtright, Aimee E. – PersonEntity: Name: NameFull: Ortiz, David S. – PersonEntity: Name: NameFull: Samaras, Constantine – PersonEntity: Name: NameFull: Burger, Nicholas IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 05 Text: May2011 Type: published Y: 2011 Identifiers: – Type: issn-print Value: 03014215 Numbering: – Type: volume Value: 39 – Type: issue Value: 5 Titles: – TitleFull: Energy Policy Type: main |
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