Renewable Portfolio Standards - A good thing
Across the country, states have been proactive in adopting or increasing their renewable portfolio standards (RPS). The RPS is an effective tool for spurring consumer demand as it mandates that utilities offer incentives for renewables and encourages a mix of energy options. Coupled with federal incentives such as the Investment Tax Credit, an RPS is a very powerful mechanism for increasing renewables.
The Benefits of an Effective RPS
- Diversifying the energy mix (which can provide a cushion against price fluctuations and reduce stress on the power grid)
- Spurring economic development and creating jobs
- Lowering utility bills, creating cost savings for consumers
- Reducing greenhouse gas emissions