NREL Paper on setting RPS POLICY

 • RPS targets are typically set as a production target (in MWh). Setting a production target in megawatt-hours incentivizes project developers to use equipment and installations that maximize renewable energy generation. In some cases, targets have been set in megawatts (MW) (capacity). Though setting a capacity target may be less administratively complex, it does not consider how much electricity is actually produced. Thus, it could incentivize generators to come online but perhaps be located in areas with lower-quality resources (e.g., areas lacking steady winds) or in areas with high congestion, resulting in curtailment of renewable generation. NY


 • RPS targets are typically established on an annual basis with an end-year target. For example, the RPS target may be 30% of annual retail electricity sales in 2030, starting at 20% in 2020 and increasing 1% annually to reach the 30% end-year target. This provides certainty to project developers. All areas, but especially those with rapid load growth where end-year retail sales may be difficult to forecast, may need to develop mechanisms to determine the actual megawatt-hours required based on defined data sources (e.g. retail sales reports) and defined time frames (e.g. within one quarter after the calendar year ends).

 • RPS policies provide a list of eligible technologies. Because stakeholders may have different definitions of “renewable,” having a list of eligible technologies is essential for tracking compliance. In some cases, countries are establishing “clean” portfolio standards that include nuclear generation. In addition to which types of technologies are eligible, RPSs define any temporal constraints. For example, the RPS may include only renewable generation produced after the RPS was enacted.  NYS CLCPA vs. RPS.

 • RPS policies determine whether renewable imports are eligible. MASS The RPS can also be designed to either include or exclude renewable generation that is imported from a neighboring country or region, as (1) in some regions, significant amounts of electricity may already be imported, (2) renewable energy resources may be able to be developed at lower costs in other regions and then imported, and (3) legal, contract, or other restrictions may prohibit discriminating against electricity imports. In contrast, some RPS policies exclude renewable imports to support local industry and create jobs in-country, or for other reasons.

 • A compliance and enforcement structure is essential to assure investors that a market for renewable technologies will exist over the life of their investment. An RPS is most impactful for mobilizing private sector investment if it is legally binding to reduce the likelihood of changes to the policy (IRENA 2017). 
CHEVRON?

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