Study: Minnesotaâ€™s Renewable Energy Mandate Will Damage State Economy with Little-to-No Benefit to EnvironmentPosted by Dan McGrath in Bad Policy, Economics, Global Warming 'Solutions', Solar Power, Wind Power
ByÂ American Tradition Institute
As the new state legislature scrutinizes Minnesota’s restrictive energy policies, a study commissioned by the American Tradition Institute and the Minnesota Free Market Institute provides several reasons for lawmakers and new Gov. Mark Dayton to reverse the state’s damaging Renewable Portfolio Standard.
The study found that Minnesotans would pay $15 billion more for electricity between 2016 and 2025 because of the state’s RPS, as alternative energy is more costly and unreliable than conventional sources such as coal or natural gas. Meanwhile there will be negligible environmental benefit, as it is unlikely that use of renewables – especially wind, which the state mandates as a large percentage of its RPS – actually reduce greenhouse gas emissions. The study was prepared by economists at the Beacon Hill Institute at Suffolk University in Boston.