Achieving 76% renewable power by 2040 would be an optimal scenario, the analysis found.
The 8.5-megawatt Houston Solar Farm, photographed on Tuesday, Aug. 29, 2023, is comprised of 14,000 solar panels and sits on land that was burned during the 1996 Miller's Reach Fire.
Robert Pickett, a commissioner with the Regulatory Commission of Alaska, praised the report. But he also expressed concerns, including about its tax-policy assumptions, and that it relies on an approach to costs that “grossly oversimplifies the project development process.” Denholm said that the analysis found that Railbelt electric utilities would see significant savings if they boosted their share of power from clean energy sources to 76% between now and 2040. Adding additional increments of power by 2040, to 80% for example, would not be financially optimal, he said.
The modeling assumes capital costs and other expenses related to building wind and solar projects would be about $2.9 billion over the time period. That would offset costs associated with current power generation, from gas and other sources, of $4.2 billion.
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