Report: Renewables growth is driving down wholesale power rates

10/2/2013 | SNL Financial (free content)

Propelled by federal tax incentives and state commitments, renewable energy production is rising, driving down wholesale electricity prices and fossil fuel generation, according to a report from Sanford C. Bernstein. U.S. renewable energy production rose 40% between 2007 and 2012, thanks to state targets, the report found. "In aggregate, we calculate that these state renewable mandates will require that [about] 7% of total U.S. retail electricity sales be supplied from renewable resources by 2015, and by [approximately] 10% by 2020," wrote Bernstein analyst Hugh Wynn.

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