Renewable energy technology may be driving wholesale energy costs lower and lower as the resources gain prominence, but according to a recent assessment, they could also be driving capacity prices through the roof.
Argus Media reported growth in ISO New England's future renewable energy initiatives could force generators to charge more for baseload energy. Though nearly forty percent of New England's energy comes from natural gas, renewables only account for half of what nuclear power generates throughout the region. Nuclear, as well as coal, could see increased plant retirements due to this change in direction throughout the industry.
ISO New England has more than four thousand megawatts of wind capacity already laid out in proposals and could have as much as two thousand four hundred megawatts of solar capacity by 2024.
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