FOR IMMEDIATE RELEASE
Wednesday, February 16, 2011
Contacts:
Paul Chesser, [email protected]
Paul Gessing, [email protected]
Frank Conte, [email protected]

A new study by American Tradition Institute and the Rio Grande Foundation, which analyzes New Mexico’s Renewable Portfolio Standard (RPS), offers several reasons for Gov. Susana Martinez and the state legislature to reverse the damaging energy policies of the last seven years.

See two-page summary of ATI/RGF Study of the Effects of New Mexico’s Renewable Portfolio Standard on the State Economy (PDF)
See the Full ATI/RGF Study of the Effects of New Mexico’s Renewable Portfolio Standard on the State Economy (PDF)

The report, prepared by economists at the Beacon Hill Institute at Suffolk University in Boston, found that New Mexicans could pay $2.3 billion more for power between 2011 and 2020 because of the state’s RPS, but they will probably pay much more. Meanwhile there will be negligible environmental benefit, as it is unclear whether use of renewables such as wind and solar actually reduce greenhouse gas emissions.

"These findings put the lie to the claim that our economy will be saved by so-called ‘Green’ jobs and allegedly clean energy," said Paul Chesser, executive director of the American Tradition Institute.

Other insights from the ATI/RGF report:

· New Mexico’s electricity prices will increase by an average of 1.92 cents per kilowatt-hour (kWh), or by 18 percent, in 2020
· By 2020 New Mexico will lose an average of 2,859 jobs
· In 2020 the RPS mandate will reduce annual wages by an average of $707 per worker
· Due to higher home energy costs, in 2020 annual real disposable income will fall by $465 million

“Environmentalists and so-called ‘green power’ advocates would love to believe that we can get something for nothing when it comes to electricity, but the facts are very different,” noted Rio Grande Foundation president Paul Gessing.

The report concludes that New Mexico RPS policy, because of higher costs for doing business, will not reduce global emissions but rather send jobs and capital investment outside the state. As a first step New Mexico policymakers should repeal the RPS before electricity costs spiral out of control.

See the Full ATI/RGF Study of the Effects of New Mexico’s Renewable Portfolio Standard on the State Economy (PDF) 

See also ATI’s Study of the Effects of Federal Renewable Portfolio Standard Legislation on the U.S. Economy (PDF)

For an interview with American Tradition Institute executive director Paul Chesser, call (202)670-2680 or email [email protected].
For an interview with Rio Grande Foundation’s Paul Gessing, call (505)264-6090 or email [email protected].