Doubling Down on Failure: How a 50 Percent by 2030 Renewable Energy Standard Would Cost Minnesota $80.2 Billion
Renewable energy mandates cost ratepayers and taxpayers money, and increasing Minnesota's renewable power mandate will increase costs but not improve reliability.
This study calculates lawmakers proposal to doubling Minnesota’s renewable energy mandate (REM), requiring 50 percent of our electricity be generated by renewable sources by the year 2030, or Governor Walz has proposed a 100 percent carbon-dioxide-free electric grid by 2050 will increase electricity costs by $24.6 billion by 2030, and the additional costs of maintaining this electric system through 2050 will be nearly $80.2 billion.
"Policymakers have a duty to the hardworking people of Minnesota to enact policies that maximize benefits while minimizing costs. If lawmakers enact a 50 percent renewable energy mandate, they will be doubling down on a failed and expensive policy that imposes significant harm on Minnesota families and businesses with negligible environmental benefits," write the authors.