The U.S. Environmental Protection Agency (EPA) has released the comprehensive report “Impacts of Voluntary Renewable Energy Demand on Deployment: A Market-Based Approach,” which provides an in-depth analysis of how voluntary renewable energy markets contribute to the growth of renewable energy in the United States. The report estimates that from 2014 to 2023, voluntary markets were responsible for as much as 60% of non-hydropower renewable energy deployment beyond state mandates, underscoring their significant role in the nation’s renewable energy expansion.
This new EPA report complements earlier research conducted by Dr. Eric O’Shaughnessy highlighted by CRS in October of last year. Both pieces emphasize that voluntary demand and REC procurement are pivotal in driving renewable energy deployment, offering nuanced insights into the complexities and impacts of voluntary renewable energy markets. CRS’s Todd Jones, Principal, U.S. Markets, was a peer reviewer on the report.
The EPA report also provides helpful analysis and explanation of voluntary market metrics like sales volumes and revenue, which complements information that we publish annually in our Green-e® Verification Reports.
Together, these studies provide a more complete understanding of the impacts of voluntary renewable energy demand, reinforcing the importance of market-based approaches in accelerating the transition to a sustainable energy future.
More Resources
Check out the report on EPA’s Market Analysis page.
Find links to Dr. O’Shaughnessy’s other research and articles related to voluntary market impact on the CRS website here.
