April 7, 2022
“DOE is in the right direction with this new policy, which will boost the confidence of RE players in the country, especially at the local level. They are also in the right mindset to recognize the cost-competitiveness of RE (compared to coal and other fossil fuels), with RE supply abundantly available for us but with the main challenge remaining as regards the cost of developing the technologies—which the DOE is also looking into to bring down RE costs.
It’s a tall order for the DOE to achieve our targets of increasing the RE share in our power mix by 35% by 2030 and by 50% by 2040 (with RE share only at 21.2% in 2020). This new policy and the other RE policies and programs of the DOE—such as the Green Energy Option Program (GEOP), Renewable Portfolio Standards (RPS), Green Energy Auction Program (GEAP), and RE Trust Fund—will hopefully work towards reaching these goals.
The DOE is in a strategic vantage point to set the country on track towards a cleaner, cheaper, and more reliable power system in renewable energy and veer us away from climate change and war-inducing sources in fossil fuels.”