Report finds economic, environmental benefits from solar and wind bill in Massachusetts
A new report found substantial economic and environmental benefits for Massachusetts if the legislature approves the sustainable energy policies included in a bill passed by the State Senate last week.
The bill has several key provisions including increased targets for off-shore wind generation and battery storage, the removal of the solar net metering cap, and an accelerated increase in the Renewable Portfolio Standard (RPS).
The study — conducted by the Applied Economics Clinic (AEC) along with the Sustainable Energy Advantage — would reduce greenhouse gas emissions by 600,000 metric tons and would add no new costs for ratepayers.
The report also found that it would create an average of 1,800 new jobs; generate $3.4 billion in economic opportunity over the next twelve years; and lead to 9,800 megawatts (MW) of total solar, wind, and hydro generation.
“By building on the Commonwealth’s current approach to clean energy development, these policies would bring new jobs and GDP growth to Massachusetts, and help the state make progress toward its climate goals,” Elizabeth Stanton, founder and director of AEC and the report’s lead author, said. “Notably, we found that, if these policies are adopted together, electric rates for Massachusetts consumers actually decrease by 2030.”
These initiatives would help the state meet the goals laid out in the pending “Act to Promote a Clean Energy Future.” That bill calls for an increase in the Renewable Portfolio Standard from 1 to 3 percent per year, the generation of 5,000 MW of offshore wind by 2035, a battery storage goal of 1,766 MW by 2025, and the removal of the cap on “net metering” (selling energy back onto the grid) from small solar installations.
