A new report commissioned by the Bipartisan Policy Center compares the economic impacts of a 25% renewable electricity standard (RES) and a 20% RES to the impacts of the North Carolina Renewable Energy and Energy Efficiency Portfolio Standard (NC REPS). The study projected impacts from renewable electricity generation, renewable electricity feedstock production, and from electricity rates per kWh.
The analysis found that in 2025, the total impact from operating additional renewable facilities would reach $2.2 billion under the NC REPS, $4.5 billion under the 25% RES, and $4.1 billion under the 20% RES.
In addition, the analysis found that 25 to 30 percent of those impacts would come from the production of feedstock for bioenergy. While the direct economic activity of the North Carolina agriculture sector in 2007 is estimated at $9.9 billion, the economic impact of the NC REPS on North Carolina’s agricultural and forestry sectors in 2025 is projected to be $0.7 billion from the NC REPS, $1.6 billion from a 25% RES, and $1.4 billion on 20% RES.
Read the full report from the Center here and further analysis from Southern Alliance for Clean Energy here.