EPA ECONOMIC ANALYSIS OF “THE AMERICAN CLEAN ENERGY AND SECURITY ACT OF 2009”

The U.S. Environmental Protection Agency has completed an analysis of the American Clean Energy and Security Act (H.R. 2454), as reported by the Energy and Commerce Committee. Like all modeling projects, it is an estimate of the likely impacts of the legislation. It is the most up-to-date and sophisticated modeling currently available.

The EPA analysis finds that: “H.R. 2454 transforms the structure of energy production and consumption.”

Deploying Clean Energy Technology. The EPA analysis projects that the legislation would substantially accelerate the deployment of clean energy technology that will create new jobs. Under the American Clean Energy and Security Act (ACES):

The United States would almost double the share of energy from zero or low carbon sources by 2030, as opposed to the business-as-usual approach.

Advanced carbon capture and storage (CCS) technology would come online by 2015 to 2020 and lead to 25 gigawatts of new and retrofitted CCS coal-fired generation by 2025, as opposed to 2 GW of CCS in the absence of legislation. This is 44% more CCS generation than was deployed by the discussion draft.

Roughly 65% of the new generation built by 2025 will be renewable, and 92% will be low carbon. Billions of dollars will be directed to states so that each state can create homegrown clean energy jobs.

For more American Clean Energy and Security Act details: http://energycommerce.house.gov/Press_111/20090623/hr2454_epasummary.pdf.