Arizona Renewable Energy Standard and Tariff: 2020 Progress Report
This Strategen report for client CERES, Arizona Renewable Energy Standard and Tariff: 2020 Progress Report, calculated the economic benefits of Arizona’s 2006 Renewable Energy Standard and Tariff (REST), which requires 15% of Arizona’s energy come from renewable energy resources by 2025.
Based on the benefits which could be readily quantified, Strategen estimates that from 2008 to 2018, gross benefits to utility customers and the public from implementing the REST have totaled over $1.5 billion for APS and over $469 million for TEP.
Other benefits to date include:
$11.62 billion in solar-industry investments, which has stimulated job growth and market development;
A 3% reduction in statewide greenhouse gas emissions, leading to improvement in air quality and public health; and
Savings of 7,129-acre feet of water annually, enough water to serve the needs of nearly 44,000 Arizonans each year.