trending Market Intelligence /marketintelligence/en/news-insights/trending/vKLguUKsa5JTXR3EqYO4EQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Federal standard would more than double US renewables capacity, report says

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Essential Energy Insights - May 14, 2020


Federal standard would more than double US renewables capacity, report says

A federal renewable energy standard that includes compliance payments and penalties, plus a nationwide price on carbon, is the best way to help the U.S. expand renewable energy to meet climate benchmarks, the American Council on Renewable Energy said in a white paper released Oct. 16.

Democratic lawmakers in states across the country have succeeded in passing ambitious renewable energy standards in recent years. But a nationwide renewables mandate has failed to pass both chambers of Congress in the decade since former President Barack Obama first advocated for one.

The report defined a federal renewable energy standard as a federal law that requires a high percentage of renewable energy, generally over 50%, in electricity utilities' sales, generating capacity or purchases. This policy, the paper argued, would increase demand for renewable energy directly and generate investment, as well as drive commercialization, cost reductions and innovation for renewable technologies. That approach has proven effective on the state level, the authors argued.

Qualifying technologies should include, at a minimum, solar, wind, hydropower, ocean, tidal, hydrokinetic and geothermal energy, the report said. Carbon pricing, meanwhile, is already in place in 11 states and in more than 40 countries and subnational jurisdictions.

"By putting an appropriate price on carbon in combination with a federal high-penetration [renewable energy standard], policymakers could internalize the external costs of carbon pollution and further catalyze market forces to deploy carbon-free and low-carbon electricity at the lowest possible cost," the paper said. "Additionally, to prevent regressive impacts and build durable political support for carbon pricing, members of Congress from both parties have proposed using revenue from carbon pricing to create a 'carbon dividend' that would provide a new source of income for all Americans during the renewable energy transition."

In June Sen. Tina Smith, D-Minn., Rep. Ben Ray Lujan, D-N.M., and Sen. Tom Udall, D-N.M., introduced the Renewable Electricity Standard Act of 2019. It would put the U.S. on track to get at least half of its electricity from renewable sources by 2035, nearly triple the current share of about 18%. The Committee on Energy and Natural Resources is now considering the bill.

Congress should also consider additional policy questions, the report said. These include stranded costs of retiring power plans, grid reliability and resilience, transmission and related infrastructure, and benefits to communities hit hard by energy transitions.