The Governor’s Energy Office (GEO) has prepared a ten-year Renewable Energy Goals Market Assessment. This study, as required by statute, provides important information and assesses the renewable energy market and its ability to meet the state’s clean energy requirements. This includes analysis and review of the opportunities, potential, and challenges facing the state in reaching Maine’s 80% RPS by 2030. The GEO retained Energy & Environmental Economics (E3) and Applied Economics Clinic (AEC) to develop this assessment.
State of Maine Renewable Energy Goals Market Assessment Final Report (PDF)
Key Findings from the Study:
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Maine has multiple pathways to meet its RPS
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Maine is on track to meet its near-term RPS requirement through 2026; new resources will need to be online to meet increasing goals thereafter
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Transmission will be a key driver of renewable development
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Storage paired with solar provides value to Maine's grid
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A technologically diverse portfolio helps lower risk
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Regional coordination on building transmission can help lower the costs of meeting Maine's RPS
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Energy equity considerations cut across four dimensions: resource diversity, customer-sited resources, geographic resource distribution, and cost
The GEO provided the opportunity for the public to provide feedback on the final report in February 2021. Public Feedback (PDF)