Is it Time to Move On? An Analysis of Renewable Portfolio Standards and its Policy Alternatives

Renewable Portfolio Standards (RPS) are state mandates that require in-state utilities to procure a certain percentage of their energy mix from renewable energy (RE) sources. Although they are the most pervasive green policy at the state level, critics assail the policy for its impact on electricity prices, questionable cost-effectiveness, and the corporate misuse occurring in the renewable energy certificates (RECs) system under its nose. Considering the U.S.'s lagging progress in meeting Paris Agreement commitments and the RPS's integral role in the climate change initiative landscape, we are forced to assess policy alternatives as possible remedies. In this paper, I review the discourse surrounding the RPS and examine two proposed policy alternatives: cap and trade and feed-in tariffs.