Conducted by University of Chicago economists, the study of 29 state renewable energy mandates reports that:
Renewable energy mandates reduce CO2 emissions at the astounding price of between $130 to $460 per ton. This is like adding between $54.60 to $193.20 to the price of a barrel of oil.
The cost of reducing CO2 emissions via renewable mandates is much more expensive than the so-called “social cost of carbon.” Enviro groups claim that social cost of carbon is about $40 per ton.
Renewable energy mandates in the 29 states have reduced CO2 emissions by a mere 95 – 175 MILLION metric tons of CO2 after seven years. Annual manmade emissions of CO2 are about 53.5 BILLION tons per year
So there you have it: Renewable mandates are exceedingly expensive — even more expensive than the so-called “problem” — yet do nothing to solve the supposed “problem.”