The report, titled “Colorado’s Energy Future: The High Cost of 100% Renewable Electricity by 2040,” projects that monthly electricity bills for residential, commercial, and industrial customers would rise to $628 by 2040, a substantial increase from the current average of $180.
Colorado’s energy plan to achieve 100% renewable electricity by 2040 could lead to significant cost increases for electricity customers
The report also estimates that implementing Governor Jared Polis‘s renewable energy mandate would cost the state $318.8 billion through 2050. Furthermore, the report highlights potential issues with reliability due to fluctuations in power generation from wind and solar facilities, potentially resulting in blackouts.
It suggests that transitioning to nuclear energy would be a more reliable and cost-effective option for achieving decarbonization goals. Under a nuclear-focused scenario, the report states that Colorado could meet its targets at a lower cost of $88.4 billion through 2050, with the average monthly residential electricity bill increasing to $122.
The report emphasizes that the high costs associated with Polis’s plan are mainly driven by the need for rapid construction of new wind and solar facilities
Necessitating additional investments in transmission lines and battery storage for reliable power supply. It also notes that all-sector electricity prices in Colorado have already increased by 70% in the past 19 years, making them the highest in the Mountain West region.
Governor Polis has been actively pursuing his renewable energy agenda, signing numerous climate bills and directing executive agencies to develop regulations aligning with his vision. Despite the report’s findings, the state government remains committed to its goal of achieving a fully renewable electric grid by 2040.
READ ALSO: Local Nonprofit Organization Provides Food Relief To More Than 300 Georgian Families
Leave a Reply