Green for grid

Source: BY MATTHEW CHOI, Politico • Posted: Wednesday, September 8, 2021

Powering the U.S. electric grid with 80 percent zero-emissions resources by 2030 is possible at a minimum cost, and could save thousands of lives as well as spur millions of new green jobs, according to an analysis of 11 studies authored by prominent universities, think tanks, nonprofits, and energy consultancies. The analysis, conducted by clean energy think tank Energy Innovation, comes as Congress mulls whether to pass a budget that includes a Clean Electricity Payment Program, which would incentivize utilities to clean up their resource mix.

Reaching that milestone could spur anywhere from hundreds of billions to trillions of dollars in new investments, and create 500,000 to 1 million jobs annually, according to five separate studies analyzed by EI. Broadly, the studies find the U.S. will need to build approximately 50 GW to 100 GW per year of new wind and solar, as well as up to 23 GW per year of new battery storage, in order to reach that goal. Such a buildout, if backed by federal tax credit extensions, would raise customer bills less than 4 percent, three studies found.