The goal of New Mexico and other states to switch completely to electricity from renewable energy is an impossible dream, according to Bill Peacock, policy director of The Energy Alliance, a project of the Texas Business Coalition.
"Renewable energy will never be able to power the world," he wrote in a study titled "Subsidies to Nowhere."
Renewable energy has proven to be less reliable and much more expensive than oil, natural gas, coal and nuclear, he wrote.
"Any future gains in efficiency or cost will be marginal," he said. "Subsidies, whether from federal, state, or local governments, will never change that—no matter how many billions of dollars Americans are forced to pay the big multinational businesses that are harming the electric grid."
New Mexico has adopted a goal of having all of its electricity produced by renewable energy by 2045, according to the National Conference of State Legislatures. Other states, including California, have similar goals, the group said.
"To date, 10 states, Washington, D.C., Puerto Rico, and Guam have set 100% clean or renewable portfolio requirements with deadlines ranging between 2030 and 2050," NCSL said on its website. "An additional three states, plus the U.S. Virgin Islands, have goals of 50% or greater."
But maintaining 100% would be difficult, according to Philip Rossetti, former director of energy policy at the American Action Forum.
“Solar power only produces its stated capacity roughly 25.7% of the day (its “capacity factor”)," Rosseti wrote in 2019. "Wind power on average only provides power for 34.6% of the day.”
Rosetti's research also mentioned an analysis by Jessie Jenkins for the Massachusetts Institute of Technology that concluded a 100% renewable energy grid would raise the consumer's cost of power from 43% to 286%. Just the storage necessary for the power would cost nearly $2 trillion, the research showed.
However, wind turbines and solar panels are increasing in efficiency over time, according to the nonprofit group Environment America.
Wind, solar and geothermal energy accounted for only one half one percent of electricity generated in the United States in 2001, the group said. That has grown to more than 12% today, it said.
The growth rate of wind, solar and geothermal power averaged 15% a year between 2011 and 2020, the group said. If that rate continues, renewables could fully meet U.S. electricity demand by 2035, it said.
New Mexico Gov. Michelle Lujan Grisham was also hopeful after the bill was enacted in 2019 calling for 100 % renewable electricity in the state.
"This legislation is a promise to future generations of New Mexicans, who will benefit from both a cleaner environment and a more robust energy economy with exciting career and job opportunities," the governor said, according to the website North American Windpower. "Crucially, the Energy Transition Act does not leave affected workers and neighbors behind. We look out for each other. With this law, we seal that promise.”
