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November 20, 2024

Think-tanks: Clean-energy mandates could spark rolling blackouts, double electricity rates in New England

By Andrew Larson

A new report urges New England states to embrace friendlier policies toward nuclear energy to help them meet carbon-free mandates and avoid energy shortages, which could lead to rolling blackouts, in addition to electricity rates doubling.

The report, entitled “The Staggering Costs of New England’s Green Energy Policies,” was compiled by several conservative think-tanks, including Connecticut’s Yankee Institute.

In 2022, Gov. Ned Lamont signed legislation requiring Connecticut to obtain 100% of its electricity from carbon-free sources by 2040. Other New England states have passed similar laws.

The study, which looked at energy policies in Connecticut. New Hampshire, Vermont, Massachusetts, Maine, Vermont and Rhode Island, found that the states’ decarbonization plans would cost $815 billion through 2050.

But with New England contributing less than 0.4% of global emissions, the states’ plans to reduce emissions may exceed the benefits, the study found.

“This raises the very real possibility that New England states are imposing net harm on their economies by imposing policies whose costs outweigh their benefits,” according to the report.

Connecticut is already known for having among the highest electricity rates in the United States.

Renewable energy from wind and solar won’t be able to meet the region’s demands for electricity, according to the report.

The report cites data from ISO-New England’s 2050 Transmission Study, which says electricity shortfalls could occur during peak periods of demand starting in 2035.

“Thus, within 11 years, ISO-NE may be unable to coordinate electricity to power the region,” the report states.

ISO-New England is an independent, not-for-profit corporation responsible for the region’s electric grid.

The report makes several policy recommendations, including urging states to reconsider their emission-reduction goals. It also suggests lifting state nuclear moratoriums, saying that “building new nuclear power generators will be the most reliable and affordable way to decarbonize the New England grid.”

Connecticut has substantial barriers to nuclear energy, it notes.

Further, the report recommends allowing nuclear energy to count as a renewable energy source, as it produces no carbon emissions, but is often not treated as a renewable energy source like wind and solar.

“Allowing nuclear energy to be included toward meeting mandates will lower the costs for businesses and households,” the report concludes.

The report was led by the research organization Always On Energy Research and commissioned by the Americans for Prosperity Foundation, Josiah Bartlett Center for Public Policy, The Ethan Allen Institute, Maine Policy Institute, Fiscal Alliance Foundation, The Rhode Island Center for Freedom and Prosperity, and Yankee Institute.

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