How much would it cost to supply 20% of our electricity from renewable energy sources other than hydroelectric power?
Not very much. A major study in 2002 by the U.S. Energy Information Administration (EIA)—using very high estimates of renewable energy costs—found that an RPS of 20% by 2020 would raise electricity costs by about 0.2 cents per kilowatt-hour (kWh), from 6.6 cents/kWh to 6.8 cents/kWh (See Figure 1). Further, most of the increase would be offset by reductions in the price of natural gas for home heating. Other studies, using more realistic assumptions developed by the U.S. Department of Energy’s Interlaboratory Working Group, consisting of the five national energy research labs, have found that a 20% RPS, when combined with energy efficiency programs, could save consumers billions of dollars.
Related Questions
- How much does a MW of Envirepel Renewable Energy electricity cost compared with other alternative and traditional sources?
- How much would it cost to supply 20% of our electricity from renewable energy sources other than hydroelectric power?
- How much power does renewable energy currently contribute to the UK’s electricity supply?
