National Renewable Electricity Standard Aims to Build a Future of Clean and Sustainable Energy for the US
Summary
Renewable Electricity Standard (RES), also known as Renewable Portfolio Standard (RPS), states that the electricity supplier will have a minimum percentage of its electric power from specific renewable sources. RES is a state initiative embraced by various state governments (30 states and the District of Columbia) in the US. Respective state governments have taken an active role in developing the infrastructure for promoting renewable energy with the implementation of this program. The success of state level RES had led to the consultation process for designing a federal RES program.
The 110th Congress is planning to implement the national RES policy, thereby encouraging the development of the renewable market. The federal RES is expected to result in increased competition and innovation in the renewable energy sector. National RES expects to achieve its target of stimulating the renewable power development in the US by attracting investments in the areas of R&D, infrastructure and long term large scale projects. Investments in renewable energy sector will help the government in the US to create sustainable employment opportunities and ease financing options. This policy will develop the renewable energy market at the national level
and position the US as the leading renewable energy market globally.
Scope
The scope of the study includes:
- Overview on the Renewable Electricity Standard (RES)
- Influence of Renewable Electricity Standard (RES) on the overall renewable energy market development in the US with forecasts up to 2020
- Historical and forecast annual and cumulative renewable energy installed capacity from 2001 to 2020
- Expectations from the national RES which include eligibility requirements, targets, renewable energy certificates (REC), application of the national RES, penalties to suppliers
- Impact of the national RES on electricity prices, environmental quality, energy security, consumer costs, regions, employment growth and rural investments
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