Abstract
A renewable portfolio standard (RPS) is a regulatory policy that requires the
increased production of energy from renewable resources, such as wind, solar,
biomass, and geothermal.
The RPS mechanism generally places an obligation on electricity supply
companies to produce a specified fraction of their electricity from renewable
energy sources. Certified renewable energy generators earn certificates for
every unit of electricity they produce and can sell these along with their
electricity to supply companies. Supply companies then pass the certificates
to some form of regulatory body to demonstrate their compliance with their
regulatory obligations. Because it is a market standard, the RPS relies almost
entirely on the private market for its implementation. Those supporting the
adoption of RPS mechanisms claim that market implementation will result in
competition, efficiency and innovation that will deliver renewable energy at
the lowest possible cost, allowing renewable energy to compete with cheaper
fossil fuel energy sources.
Aruvian Research presents an analysis of the Renewable Portfolio Standards in
the United States in its research report Analyzing Renewable Portfolio
Standards in the US. The report talks about the importance of the RPS in
today' s energy hungry world. The report gives basic information about RPS, the
mechanism on which RPS is based on, the various RPS policies being implemented
in states across the US, and also takes a look at the federal RPS policy.
The report further analyzes the importance of the RPS as a macroeconomic,
foreign, and technological policy. Case studies of various states, and the RPS
policies in many states across the US is given in the report. The role of
renewable energy certificates in the entire system is also touched upon.
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