New Study: Lower Emission Future Is Likely More Affordable for Consumers
By Shannon Baker-Branstetter on Thursday, July 2nd, 2015
This week, Synapse Energy Economics released the first glimpse of a study modeling and comparing two possible futures for the electricity sector–one with cleaner energy and lower emissions and the other with business as usual energy investments. What may come as a surprise to some, especially given the rhetoric of opponents of EPA’s Clean Air Act rules, the “Clean Energy Future” scenario could save electric consumers $41 billion in the year 2040 as compared to business as usual.
Here’s a short summary of Synapse’s assumptions and findings for the “Clean Energy Future” in 2040:
- 70% renewables
- 200 GW of rooftop solar
- 25% energy efficiency savings
- 84% lower carbon dioxide emissions (even greater than those envisioned by EPA’s Clean Power Plan)
Synapse used the National Renewable Energy Laboratory’s (NREL) Renewable Energy Deployment System (ReEDS) model to compare the costs of the United States transitioning to a Clean Energy Future with business‐as‐usual costs. All electric-generating resources continue to operate throughout their useful lifetimes in the Clean Energy Future.
Over the coming months, Synapse will build upon its analysis to determine the state-by-state consumer bill impacts of the proposed and final Clean Power Plan, which is expected to be released in late summer. So stay tuned!