Miranda Ramírez, Alexis J.

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    Economic impact of adopting an rsp in puerto rico: case studies and policy recommendations
    (2011) Miranda Ramírez, Alexis J.; O’Neill Carrillo, Efraín; College of Engineering; Irizarry Rivera, Agustín; Ramírez Orquín, Alberto; Department of Electrical and Computer Engineering; Ruiz Vargas, Yolanda
    This Project determines the economic impact related to the adoption of a Renewable Portfolio Standard in Puerto Rico. RPS policies have become key drivers to increase the use of renewable energy sources. However, its effectiveness hinges on the economic impact related to its adoption and enforcement. The analysis presented in this project is focused on an energy policy framework, with great weight towards the economic development component. With the objective of determining the RPS related compliance cost and its impact over retail electricity price in Puerto Rico, an economic model has been developed for the Puerto Rico electric power system. For this, the project evaluates the following: available renewable energy resource-based potential; current situation of the Puerto Rico electric power system, its electric service rate structure and financial requirements of the local electric power utility; the levelized cost of energy for the selected renewable technologies; and fossil fuel price projections. Various levels of RPS adoption have been evaluated and compared with the reference scenario, including a discussion of their economic impacts and sensitivity of the results to changes in the system. Finally, this project provides with a significant contribution towards the electric power sector in Puerto Rico, including but not limited to stakeholders from the academia, Puerto Rico Electric Power Authority (PREPA), policy-makers, and the general public.