The Green New Deal: Economics and Policy Analytics
A GND policy would yield no benefits in its central energy, environment, and climate context, but it would impose very large economic costs.
The Green New Deal electricity mandate would create significant environmental damage—there is nothing clean about “clean” electricity—and massive land use of over 115 million acres, (about 180,000 square miles), about 15 percent larger than the land area of California.
Because of the need for conventional backup generation to avoid blackouts in a “100 percent renewable system” and because those backup units would have to be cycled up and down depending on wind and sunlight conditions, one ironic effect would be GHG emissions from natural gas–fired backup generation 22 percent
higher than those resulting in 2017 from all natural gas–fired power generation.
Without fossil-fired backup generation, the national and regional electricity systems would be characterized by a significant decline in service reliability — that is, a
large increase in the frequency and duration of blackouts. Battery backup technology cannot solve this problem.
As shown in the following summary table, the annual economic cost of the GND would be about $9 trillion.
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The Green New Deal: Economics and Policy Analytics | American Enterprise Institute - AEI
That’s a cost exceeding $70,000 per household per year.