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A federal Clean Energy Standard has been proposed as a policy approach to help meet climate change goals. The Biden Administration and some members of Congress are seeking to include it in budget reconciliation, and three variations of the policy have been introduced in Congress. The policy seeks to drive electric power generation to net-zero carbon emissions by requiring utilities to include more clean energy over time. Standards like this already exist in 30 states as renewable portfolio standards. Because of the similarities, many policy analysts believe a federal clean energy standard would be easy to implement. It would also… [more]View Insight
President & CEO
The Electricity Consumers Resource Council
The Federal government supports energy investment and production through the tax code and spending programs administered by the Department of Energy (DOE). In 2016, energy-related tax preferences cost an estimated $18.4 billion, while relevant DOE spending programs cost $5.9 billion. DOE programs advance knowledge benefits, which the private sector underproduces because companies cannot capture all the benefits for themselves. Early-stage research and development (R&D) has the largest “knowledge spillovers,” yet DOE direct investments in applied (late-stage) energy research is more than double those in basic (early stage) research. Tax preferences may encourage knowledge benefits for nascent technologies but deter investment… [more]View Insight