What is the Cost to Reduce Portland's CO2 to Zero?
As this paper explains, RECs - bundled with the electricity or unbundled from it - transfers ownership of the attributes (not electricity if unbundled) of the renewable to the REC purchaser. Earlier in the same paper, the authors note that the Superior Court of New Jersey has ruled, " One Renewable Energy Certificate represents the environmental benefits or attributes of one megawatt-hour of generated renewable energy."[Emphasis added] One cheap way to achieve that goal is for Portland to buy RECs. Let's figure out how many REC's Portland needs to purchase to reduce its carbon footprint 100%. Keep in mind that all the vehicles, industrial processes, commercial processes, how electricity is generated, and other uses for fossil fuels from lawn mowers, Vespas, gas grills, and on and on would still be in use. We need four pieces of information: (1) where the renable project assocaited with one REC i...