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Analysis: Experts skeptical of Sanders' $16.3 trillion 'Green New Deal' proposal

Matt Mooren, energy markets expert at PA Consulting, discusses the renewable energy goals outlined in US Senator Bernie Sanders’ "Green New Deal" proposal.

Bernie Sanders this week released a $16.3 trillion "Green New Deal" plan that would, among other things, eliminate fossil fuels from power plants and transportation by 2030. The plan contains the following proposals relevant to the electricity industry:

  • 100% renewable energy for electricity and transportation by 2030.
  • Directly investing $16.3 trillion over 10 years toward these and other climate-related efforts.
  • Grants and trade-in programs to buy electric vehicles for families and businesses, and buses for school districts and transit agencies, plus funding for private businesses to replace shipping trucks.
  • Build regional high-speed rail and expand public transit ridership by 65% by 2030.
  • Expanding four federal Power Marketing Administrations and the Tennessee Valley Authority, plus creating a new federal power authority to serve the Northeast and Midwest.
  • Stop the building of nuclear power plants and declare a moratorium on license renewals.
  • Invest $30 billion for a "StorageShot initiative to decrease power storage costs "dramatically."

Matt said the plan is "probably not doable."

He adds: "The proposed national target of 100% renewable energy by 2030 is more aggressive than the most progressive renewable energy states like New York and California, which have lower 2030 targets and longer-dated 100% renewable and carbon-free targets than Senator Sander's plan.”

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