RPS in U.S. would save $49 billion and create 355,000 jobs

WASHINGTON, DC, US, 2004-09-08 (Refocus Weekly)

A national standard in the United States which calls for 20% from renewable energies by 2020 would save US$49 billion for consumers in lower electricity and gas bills, according to a study from the Union of Concerned Scientists.

The standard would reduce power costs by $35 billion and $14 billion in lower natural gas bills, by reducing the demand for natural gas and allowing prices to drop. The standard would also create 355,000 jobs, double the number from generating the same power output from fossil fuels, it adds. The net gain would be 157,000 new jobs.

“Renewable energy can create good jobs and save consumers money while reducing our growing dependence on energy imports from politically unstable regions around the world,” says Alan Nogee of UCS. “It is time our elected officials free us from being hostage to energy resources of the 19th century, and switch to advanced clean energy technologies. The technologies are ready. All it takes is the political will.”

The standard would also spur $73 billion in capital investment, $16 billion in income to farmers and rural landowners for biomass energy supplies and wind power land leases, and $5 billion in property tax revenues for rural communities.

"Renewable energy provides economic benefits without producing the harmful pollution generated by coal-fired power plants," adds Steve Clemmer. "Instead of losing almost 80,000 jobs from chemical companies moving plants overseas to escape high natural gas prices, the U.S. could be creating highly skilled renewable energy jobs. Installing and operating wind turbines and solar panels and growing energy crops are jobs that cannot be outsourced.”

Emissions of CO2 from U.S. power plants would drop 15% by 2025 under a 20% national renewable electricity standard, and the level would also reduce emissions of nitrogen oxides that produce smog and mercury.

The analysis shows the economic and job potential for each state, with Texas as the largest single winner under the standard. In 1999, Texas mandated that 3% of the state's electricity generation be from renewables.


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