Full report at the link below. “Key Findings”…
“Given existing technology, the CES’s [clean energy standard of] 80 [%] by 50 mandate is unrealistic, unobtainable, and unaffordable. Attempting to meet the mandate could easily cost New York consumers and businesses more than $1 trillion by 2050 while providing scant, if any, measurable benefits.”
” NYDPS and NYSERDA have both claimed that renewable energy and the CES will provide billions of dollars of benefits associated with CO2 reductions. Not so. Regardless of one’s views on the accuracy of climate models and social-cost-of-carbon estimates, the CES will have no measurable impact on world climate. Therefore, the value of the proposed CO2 reductions required under the CES will be effectively zero. Moreover, even if there were benefits, virtually none of those benefits would accrue to New Yorkers themselves.”
~ Jonathan A. Lesser, PhD (econ), president of Continental Economics, has more than 30 years of experience working for regulated utilities, for government, and as an economic consultant. He has addressed numerous economic and regulatory issues affecting the energy industry in the U.S., Canada, and Latin America. His areas of expertise include cost-benefit analysis applied to both energy and environmental policy, rate regulation, market structure, and antitrust. Lesser has provided expert testimony on energy-related matters before utility commissions in numerous states; before the Federal Energy Regulatory Commission; before international regulators; and in state and federal courts. He has also testified before Congress and many state legislative committees on energy policy and regulatory issues.