Expansion of Renewable Energy Procurements Equals Savings

RENEW urged the Massachusetts General Court’s Joint Committee on Telecommunications, Utilities and Energy to raise utility procurements of renewable energy pursuant to the Green Communities Act of 2008 from a minimum of 3 percent to at least 9 percent of utility demand by 2016 in order to meet the requirements of Massachusetts’ Renewable Portfolio Standard in the most cost-effective manner. By doing so Massachusetts consumers will, based on the recent analysis of the Department of Public Utilities using three recent procurements conducted by utility NSTAR, save $1 million per megawatt of installed renewable capacity or approximately $1 billion to meet the incremental 1,000 megawatts needed to fulfill the 2016 requirements.