Via the inbox:
The renewable energy tax credits Congress extended in December will lead to higher deployment of wind and solar power and reduce emissions from the energy sector, federal researchers announced on Monday.
The tax credit extensions will lead to a net peak increase of 48 to 53 gigawatts of renewable energy generation by the early 2020s, according to a study from the National Renewable Energy Laboratory (NREL). The credits mean renewable energy will be deployed at a noticeably higher rate than if lawmakers allowed them to expire, the report found.
Because of expanded renewable energy deployment, the study found, carbon dioxide emissions from the power sector are set to decrease by between 540 million metric tons and 1,400 million metric tons between 2016 and 2030.
Both figures — renewable energy deployment and carbon emission reductions — are contingent on the price of natural gas. If prices remain at their current low levels, NREL projects, utilities are likely to move more slowly to embrace wind and solar power. ...
Lawmakers extended the tax credits for solar and wind power for five years as part of the tax and spending deal they reached in December. Extending the credits was a trade-off for lifting the federal ban on crude oil exports.
via thehill.com
Here is a link to the study: http://www.nrel.gov/news/press/2016/22645.