How does the RES reduce renewable energy costs?
The RES is the best policy to ensure we meet resource diversity and environmental goals at the lowest cost. By stimulating a long-term market for renewable energy, the RES reduces the investment risk associated with building renewable facilities. Lower investment risk promotes cost-effective financing of new projects. Increasing the deployment of renewable technologies reduces manufacturing, installation, maintenance, and other costs over the long term. At the same time, competition among a variety of renewable sources to meet the RES also helps drive renewable energy prices down. Using renewable energy credits (see below) creates additional savings.
