Earlier this week, the Congressional Budget Office issued a new report that highlights the important role a clean energy standard could have in creating the clean energy jobs of the future at minimal cost to consumers.
The report evaluates several proposed clean and renewable energy standards, running them through a variety of models to determine the impact they could have on electricity prices in five regions of the country. The results show that such standards can be a very effective way to increase America's leadership in renewable energy technologies with minimal impact on consumers.
While the specific details would have to be decided during the legislative process, even under the most expensive case evaluated by the Congressional Budget Office, a federal energy standard would increase the cost of running a refrigerator by less than 2 cents per day 20 years from now in the most affected region. At the same time, it could more than double America's clean energy production, promoting investments in renewable energy technologies that provide the energy we need while creating the jobs of tomorrow right here at home. And, even for those models that predict slight increases in electricity rates, the Congressional Budget Office identified steps that could be taken to bring down the cost to ratepayers.
All in all, a well-designed technology neutral clean energy standard would be a win for American workers, and a win for America on global competitiveness. And when paired with measures to improve energy efficiency, a comprehensive energy standard could even reduce electricity bills for consumers.
Read the report for yourself.