US renewable energy policy scenario analysis

Administrative action can accelerate transmission infrastructure expansion in order to unlock wind and solar

Highlights from the report

  • Administrative action can enable doubling renewable energy penetration within the next decade
  • Total capital investment to reach 50% renewables approaches $1Trillion by 2030
  • 50% renewables by 2030 will catalyze nearly 1 million direct, high-paying jobs in construction, installation, operations, manufacturing and supply chain

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In this report, Wood Mackenzie has developed three scenarios to study the US renewable market evolution:

  • The Base Case was developed using Wood Mackenzie's H1 2020 Federal Carbon case and can be viewed as WoodMac's most likely scenario, given current policy initiatives.
  • Scenario 1 is based on federal government administrative action enabling transmission expansion, renewable expansion in federal land and water, and accelerated permitting.
  • Scenario 2 is based on a nationwide 50% Renewable Energy Standard, in addition to administrative action.

The report finds that administrative action can enable a doubling of renewable energy penetration within the next decade. To reach this goal, transmission focused policies will be critical. The ensuing growth in renewables would be a major source of economic stimulus over the next ten years.

Total capital spend surpasses $1T by 2030

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Table of contents

  1. Executive summary
  2. Scenario 1 - Administrative action
  3. Scenario 1 economic development opportunity
  4. Scenario 2 - Nationwide 50% renewable energy target
  5. Scenario 2 economic development opportunity
  6. Supply chain impacts