Analyzing Renewable Portfolio Standards in the US
A renewable portfolio standard (RPS) is a regulatory policy that requires the increased production of energy from renewable resources, such as wind, solar, biomass, and geothermal.
The RPS mechanism generally places an obligation on electricity supply companies to produce a specified fraction of their electricity from renewable energy sources. Certified renewable energy generators earn certificates for every unit of electricity they produce and can sell these along with their electricity to supply companies. Supply companies then pass the certificates to some form of regulatory body to demonstrate their compliance with their regulatory obligations. Because it is a market standard, the RPS relies almost entirely on the private market for its implementation. Those supporting the adoption of RPS mechanisms claim that market implementation will result in competition, efficiency and innovation that will deliver renewable energy at the lowest possible cost, allowing renewable energy to compete with cheaper fossil fuel energy sources.
Aruvian's R'search presents an analysis of the Renewable Portfolio Standards in the United States in its research report Analyzing Renewable Portfolio Standards in the US. The report talks about the importance of the RPS in today’s energy hungry world. The report gives basic information about RPS, the mechanism on which RPS is based on, the various RPS policies being implemented in states across the US, and also takes a look at the federal RPS policy.
The report further analyzes the importance of the RPS as a macroeconomic, foreign, and technological policy. Case studies of various states, and the RPS policies in many states across the US is given in the report. The role of renewable energy certificates in the entire system is also touched upon.
The RPS mechanism generally places an obligation on electricity supply companies to produce a specified fraction of their electricity from renewable energy sources. Certified renewable energy generators earn certificates for every unit of electricity they produce and can sell these along with their electricity to supply companies. Supply companies then pass the certificates to some form of regulatory body to demonstrate their compliance with their regulatory obligations. Because it is a market standard, the RPS relies almost entirely on the private market for its implementation. Those supporting the adoption of RPS mechanisms claim that market implementation will result in competition, efficiency and innovation that will deliver renewable energy at the lowest possible cost, allowing renewable energy to compete with cheaper fossil fuel energy sources.
Aruvian's R'search presents an analysis of the Renewable Portfolio Standards in the United States in its research report Analyzing Renewable Portfolio Standards in the US. The report talks about the importance of the RPS in today’s energy hungry world. The report gives basic information about RPS, the mechanism on which RPS is based on, the various RPS policies being implemented in states across the US, and also takes a look at the federal RPS policy.
The report further analyzes the importance of the RPS as a macroeconomic, foreign, and technological policy. Case studies of various states, and the RPS policies in many states across the US is given in the report. The role of renewable energy certificates in the entire system is also touched upon.
A. EXECUTIVE SUMMARY
B. LOOKING AT RENEWABLES
B.1 What is Renewable Energy?
B.2 Types of Renewables
B.3 Sources of Electricity
B.4 Looking at the Economics
C. INTRODUCTION TO RENEWABLE PORTFOLIO STANDARD
C.1 What is a Renewable Portfolio Standard?
C.2 History & Present-day Application of the RPS
C.3 RPS and the Environment
C.4 RPS and Emissions
C.5 Energy Efficiency and the RPS
C.6 Mechanics of an RPS
C.7 Diversification of the Programs
C.8 Benefits of a Renewable Portfolio Standard
C.9 RPS and Clean Energy
C.10 Key Features of a RPS
C.11 Structure, Size & Application of RPS Policies
C.12 Eligibility of RPS Policies
C.13 Administration of an RPS
C.14 Basic Elements of a Successful Policy
C.15 Why is a RPS Required?
C.16 Looking at State Level RPSs
C.17 Federal RPS
C.18 Challenge of Meeting the Energy Demand
D. ISSUES IN US RPS DESIGN
E. MACROECONOMIC BENEFITS OF AN RPS
F. IMPLEMENTING RPS AS A FOREIGN & TECHNOLOGICAL POLICY
G. MANAGING RISK THROUGH RPS
G.1 Role of RECs
G.2 Diversifying and Lowering Risk
G.3 Role of RPS in National Security
H. TAPPING INTO RENEWABLE ENERGY RESOURCES
H.1 Role of Renewable Energy Certificates
H.2 What are RECs?
H.3 Time Period for Compliance
H.4 Double Counting
H.5 Tracking Mechanisms for RECs
I. GEOGRAPHICAL ELIGIBILITY OF RPS
I.1 Overview
I.2 Restrictions on Generator Eligibility
I.3 Development of In-State Facilities
I.4 Role of Dormant Commerce Clause
J. STATE RPS EXPERIENCES
J.1 Design of RPS Policies
J.2 Impact of RPS on the Renewable Energy Supply
J.3 Economic Impacts of RPS Policies
J.4 Issues with Federal RPS Proposals
J.5 Coordination between Federal & State RPS Policies
J.6 Differences in State RPS Policies
J.7 Strong Support for Policies Favoring Wind Power
J.8 Compliance with State RPS Policies
J.9 Variability in REC Prices
J.10 Transmission Limitations are Prevalent
J.11 Political Factors Driving State RPSs
K. RPS DESIGN TRENDS
L. RPS PROVISIONS FOR SOLAR ENERGY
L.1 Overview
L.2 Rise of Solar-Specific RPS Designs
L.3 Development of Solar Facilities
L.4 Dealing with the Issues for Solar Generation
L.5 Case in Point: New Jersey Solar Renewable Energy Certificate Tracking
L.6 Case Studies
L.6.1 Solar RPS Provisions in Arizona
L.6.2 Solar RPS Provisions in New Mexico
M. RPS & THE SECURING OF PROJECT FINANCING
M.1 Overview
M.2 Market Structure & Implementation of RPS
M.3 Financial Expectations
M.4 Changing Financial Policies
N. REGULATORY FRAMEWORK AND THE RPS
N.1 Overview
N.2 Strong RPS Policy Mechanisms
N.3 Weak RPS Policy Mechanisms
N.4 Cost Caps
N.5 Fluctuating Eligibility Regulations
O. RPS IN STATES
O.1 Arizona
O.2 California
O.3 Colorado
O.4 Connecticut
O.5 Delaware
O.6 Florida
O.7 Hawaii
O.8 Illinois
O.9 Iowa
O.10 Maine
O.11 Maryland
O.12 Massachusetts
O.13 Michigan
O.14 Minnesota
O.15 Missouri
O.16 Montana
O.17 Nevada
O.18 New Hampshire
O.19 New Jersey
O.20 New Mexico
O.21 New York
O.22 North Carolina
O.23 North Dakota
O.24 Ohio
O.25 Oregon
O.26 Pennsylvania
O.27 Rhode Island
O.28 South Dakota
O.29 Texas
O.30 Utah
O.31 Vermont
O.32 Virginia
O.33 Washington
P. CASE STUDY: RPS IN TEXAS
P.1 Introduction
P.2 Analyzing the Texas RPS
P.3 Design Details of the Texas RPS
P.4 RPS & the Development of Renewable Energy in Texas
P.5 Factors Driving Success
Q. CASE STUDY: RPS IN MASSACHUSETTS
R. CASE STUDY: RPS IN NEVADA
S. CASE STUDY: RPS IN PENNSYLVANIA
T. CASE STUDY: RPS IN COLORADO
U. FUTURE IMPACT OF RPS POLICIES
V. ISSUES & OPPORTUNITIES FOR RPS
W. APPENDIX
X. GLOSSARY OF TERMS
B. LOOKING AT RENEWABLES
B.1 What is Renewable Energy?
B.2 Types of Renewables
B.3 Sources of Electricity
B.4 Looking at the Economics
C. INTRODUCTION TO RENEWABLE PORTFOLIO STANDARD
C.1 What is a Renewable Portfolio Standard?
C.2 History & Present-day Application of the RPS
C.3 RPS and the Environment
C.4 RPS and Emissions
C.5 Energy Efficiency and the RPS
C.6 Mechanics of an RPS
C.7 Diversification of the Programs
C.8 Benefits of a Renewable Portfolio Standard
C.9 RPS and Clean Energy
C.10 Key Features of a RPS
C.11 Structure, Size & Application of RPS Policies
C.12 Eligibility of RPS Policies
C.13 Administration of an RPS
C.14 Basic Elements of a Successful Policy
C.15 Why is a RPS Required?
C.16 Looking at State Level RPSs
C.17 Federal RPS
C.18 Challenge of Meeting the Energy Demand
D. ISSUES IN US RPS DESIGN
E. MACROECONOMIC BENEFITS OF AN RPS
F. IMPLEMENTING RPS AS A FOREIGN & TECHNOLOGICAL POLICY
G. MANAGING RISK THROUGH RPS
G.1 Role of RECs
G.2 Diversifying and Lowering Risk
G.3 Role of RPS in National Security
H. TAPPING INTO RENEWABLE ENERGY RESOURCES
H.1 Role of Renewable Energy Certificates
H.2 What are RECs?
H.3 Time Period for Compliance
H.4 Double Counting
H.5 Tracking Mechanisms for RECs
I. GEOGRAPHICAL ELIGIBILITY OF RPS
I.1 Overview
I.2 Restrictions on Generator Eligibility
I.3 Development of In-State Facilities
I.4 Role of Dormant Commerce Clause
J. STATE RPS EXPERIENCES
J.1 Design of RPS Policies
J.2 Impact of RPS on the Renewable Energy Supply
J.3 Economic Impacts of RPS Policies
J.4 Issues with Federal RPS Proposals
J.5 Coordination between Federal & State RPS Policies
J.6 Differences in State RPS Policies
J.7 Strong Support for Policies Favoring Wind Power
J.8 Compliance with State RPS Policies
J.9 Variability in REC Prices
J.10 Transmission Limitations are Prevalent
J.11 Political Factors Driving State RPSs
K. RPS DESIGN TRENDS
L. RPS PROVISIONS FOR SOLAR ENERGY
L.1 Overview
L.2 Rise of Solar-Specific RPS Designs
L.3 Development of Solar Facilities
L.4 Dealing with the Issues for Solar Generation
L.5 Case in Point: New Jersey Solar Renewable Energy Certificate Tracking
L.6 Case Studies
L.6.1 Solar RPS Provisions in Arizona
L.6.2 Solar RPS Provisions in New Mexico
M. RPS & THE SECURING OF PROJECT FINANCING
M.1 Overview
M.2 Market Structure & Implementation of RPS
M.3 Financial Expectations
M.4 Changing Financial Policies
N. REGULATORY FRAMEWORK AND THE RPS
N.1 Overview
N.2 Strong RPS Policy Mechanisms
N.3 Weak RPS Policy Mechanisms
N.4 Cost Caps
N.5 Fluctuating Eligibility Regulations
O. RPS IN STATES
O.1 Arizona
O.2 California
O.3 Colorado
O.4 Connecticut
O.5 Delaware
O.6 Florida
O.7 Hawaii
O.8 Illinois
O.9 Iowa
O.10 Maine
O.11 Maryland
O.12 Massachusetts
O.13 Michigan
O.14 Minnesota
O.15 Missouri
O.16 Montana
O.17 Nevada
O.18 New Hampshire
O.19 New Jersey
O.20 New Mexico
O.21 New York
O.22 North Carolina
O.23 North Dakota
O.24 Ohio
O.25 Oregon
O.26 Pennsylvania
O.27 Rhode Island
O.28 South Dakota
O.29 Texas
O.30 Utah
O.31 Vermont
O.32 Virginia
O.33 Washington
P. CASE STUDY: RPS IN TEXAS
P.1 Introduction
P.2 Analyzing the Texas RPS
P.3 Design Details of the Texas RPS
P.4 RPS & the Development of Renewable Energy in Texas
P.5 Factors Driving Success
Q. CASE STUDY: RPS IN MASSACHUSETTS
R. CASE STUDY: RPS IN NEVADA
S. CASE STUDY: RPS IN PENNSYLVANIA
T. CASE STUDY: RPS IN COLORADO
U. FUTURE IMPACT OF RPS POLICIES
V. ISSUES & OPPORTUNITIES FOR RPS
W. APPENDIX
X. GLOSSARY OF TERMS
