Renewable Portfolio Standards Work, But at What Cost?
As policymakers consider energy and environmental goals, renewable portfolio standards (RPS) are one popular tool to encourage the development of renewable power resources. These regulations, also called renewable electricity standards, typically require utilities to source a specified percentage of their power from qualified renewable sources. States adopt RPS programs to incentivize the development of new capacity, reduce their carbon footprints and mitigate volatility in fossil fuel prices. While such regulations do have cost impacts to ratepayers, proponents argue that their benefits exceed their costs.
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Renewable Portfolio Standards Work, But at What Cost?