Monday, February 17, 2020

AEEI report: Market response will mean cost-effective Clean Power Plan implementation

The Advanced Energy Economy Institute (AEEI) released a report on Thursday that shows that the U.S. Environmental Protection Agency’s (EPA) Clean Power Plan is likely to trigger market-based mechanisms that will ensure the availability of cost-effective compliance options.

"Time and again, when there's a market signal — whether it's from consumers, from states or from EPA — markets respond," AEEI Senior Vice President for Policy and Government Affairs Malcolm Woolf said. "There is no reason to think the Clean Power Plan should be any different.”

Entitled “Markets Drive Innovation: Why History Shows that the Clean Power Plan Will Stimulate a Robust Industry Response,” the paper draws its conclusions based on previous EPA actions and the market’s response to them. Based on the rapid and effective past market development, and the current state of advanced energy technology, the report finds that the Clean Power Plan will create a robust market.

“With strong markets already in place for advanced energy technologies that can be used for compliance, there is every reason to expect an industry response that will make implementation of the Clean Power Plan easier and cheaper," Woolf said.

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U.S. Environmental Protection Agency (EPA)

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