S&P Global discussed what a rise in clean energy development means for US electric transmission capacity, quoting AEE's Jeff Dennis on what final rules FERC will need to issue for developers. Read snippets below and the full article here.
The U.S. Senate-passed Inflation Reduction Act is projected to unleash a new wave of clean energy development that gets the nation close to achieving its 2030 climate goals. The measure will also raise the stakes for ongoing policy efforts to expand the U.S. electric transmission system and expedite environmental reviews, according to industry experts.
FERC is still considering a proposed rule (RM20-10) issued in March 2020 that would shift financial incentives for new transmission projects away from its traditional risk-based approach. Instead, the proposal would reward projects that offer reliability and economic benefits.
"I think [the Inflation Reduction Act] really bolsters the case for strong commission action and will ultimately really bolster the case for the final rules that the commission ultimately gets to in those proceedings," Jeff Dennis, general counsel for the trade group Advanced Energy Economy, said in an interview.
Read the full article here.