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Cost-Effectiveness of Renewable Electricity Policies

  • Burtraw, Dallas

    ()

    (Resources for the Future)

  • Palmer, Karen

    ()

    (Resources for the Future)

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.

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File URL: http://www.rff.org/RFF/documents/RFF-DP-05-01.pdf
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Paper provided by Resources For the Future in its series Discussion Papers with number dp-05-01.

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Date of creation: 11 Jan 2005
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Handle: RePEc:rff:dpaper:dp-05-01
Contact details of provider: Web page: http://www.rff.org

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  1. Burtraw, Dallas & Palmer, Karen & Banzhaf, H. Spencer, 2002. "Efficient Emission Fees in the U.S. Electricity Sector," Discussion Papers dp-02-45, Resources For the Future.
  2. Fischer, Carolyn & Newell, Richard, 2004. "Environmental and Technology Policies for Climate Mitigation," Discussion Papers dp-04-05, Resources For the Future.
  3. Sterner, Thomas & Hoglund, Lena, 2000. "Output-Based Refunding of Emission Payments: Theory, Distribution of Costs, and International Experience," Discussion Papers dp-00-29, Resources For the Future.
  4. Burtraw, Dallas & Palmer, Karen & Darmstadter, Joel & McVeigh, James, 1999. "Winner, Loser, or Innocent Victim? Has Renewable Energy Performed As Expected?," Discussion Papers dp-99-28, Resources For the Future.
  5. Darmstadter, Joel, 2003. "The Economic and Policy Setting of Renewable Energy: Where Do Things Stand?," Discussion Papers dp-03-64, Resources For the Future.
  6. Burtraw, Dallas & Palmer, Karen & Bharvirkar, Ranjit & Paul, Anthony, 2001. "The Effect of Allowance Allocation on the Cost of Carbon Emission Trading," Discussion Papers dp-01-30-, Resources For the Future.
  7. Langniss, Ole & Wiser, Ryan, 2003. "The renewables portfolio standard in Texas: an early assessment," Energy Policy, Elsevier, vol. 31(6), pages 527-535, May.
  8. Loschel, Andreas, 2002. "Technological change in economic models of environmental policy: a survey," Ecological Economics, Elsevier, vol. 43(2-3), pages 105-126, December.
  9. Newell, Richard & Wilson, Nathan, 2005. "Technology Prizes for Climate Change Mitigation," Discussion Papers dp-05-33, Resources For the Future.
  10. McDonald, Alan & Schrattenholzer, Leo, 2001. "Learning rates for energy technologies," Energy Policy, Elsevier, vol. 29(4), pages 255-261, March.
  11. Bernow, Stephen & Dougherty, William & Duckworth, Max, 1997. "Quantifying the impacts of a national, tradable renewables portfolio standard," The Electricity Journal, Elsevier, vol. 10(4), pages 42-52, May.
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