Thursday, January 06, 2005

Report Documents Potential for Renewable Energy Development to Reduce Natural Gas Prices

Berkeley Lab has just released a new report that documents the potential impact of renewable energy and energy efficiency in reducing natural gas prices, titled: Easing the Natural Gas Crisis: Reducing Natural Gas Prices through Increased Deployment of Renewable Energy and Energy Efficiency.

The report shows that renewable energy and energy efficiency can displace gas-fired electricity generation, reducing gas demand and putting downward pressure on natural gas prices and bills. The study also evaluates the potential impacts of New England and New York RPS policies; state renewable energy fund support for renewable projects; projections by the American Wind Energy Association and the Solar Energy Industries Associations of wind and solar power deployment, respectively; California's aggressive natural gas efficiency goals; and two possible national efficiency standards for residential boilers and furnaces.

According to the Report's authors: "the study suggests that renewable energy and energy efficiency can help to alleviate the threat of high natural gas prices over the short and long term, thereby lowering gas and electricity bills for consumers."

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