Renewable Energy Feasibility – NJ
The New Jersey Board of Public Utilities commissioned a study to determine whether or not it would be feasible to require that 20% of NJ’s energy needs be met by renewables by 2020. They received the results last week. (Press Release)
The study results show that increasing the requirement to 20% by 2020 would only result in a 3.7% increase in electric rates – which is negigible over the 16 year period. It’s important to note that this scenario assumes significant cost-reducing technology changes for wind and PV (solar) production. The report leans heavily on wind-generated power including off-shore wind installations in it’s estimates.
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I have to admit – I’m a little skeptical of the results. For one thing, they base their estimates on the best case scenario – that we would have significant cost reduction for wind and PV power in the 20 years. However, I’m strongly in favor of anything that makes NJ cleaner and less dependent on fossil fuels.
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