Analysis: Cost and Rate Impact of 100% Clean Energy
This Low Carbon Prosperity Institute (LCPI) analysis examines the rate impacts of eliminating coal power, achieving an 80% clean energy standard by the year 2030, and a 100% clean energy standard by the year 2045. LCPI relies on a variety of sources, and deploys its own utility-specific model.
I. Background
The Washington State Legislature is considering Senate Bill 5116 and House Bill 1126 to target a 100% Clean, or greenhouse gas (GHG) emissions-free, electric sector by mid-century. Under the proposals all electric utilities are to plan for supplying retail electric customers with power exclusively from renewable resources or other nonemitting generating resources such as nuclear power, by the year 2045. In addition, all electric utilities are to phase coal-fired electricity out of rates by the end of 2025, and meet a minimum 80% GHG-free resource portfolio while mitigating any remaining fossil fuel emissions by 2030, or face penalties.
Great analysis – especially about the diminishing returns achieved for the final 1%.
Can we conclude that the average utility bill paid by Washingtonian families will increase by 22% or will that number be lower due to the fact that utilities charge of a set fee in addition to their power usage.
What is the amount that an average household pays monthly for their utility bill? Providing that information along with an estimate of increased cost to achieve 100% GHG-free power would be very valuable from my perspective. What will this cost the typical taxpayer?
Thanks for the important analysis you provide.