Professor Michael Greenstone Discusses His Study on Renewable Portfolio Standards

Harris Public Policy Professor Michael Greenstone was featured in The Atlantic, discussing the nature and scope of his paper on Renewable Policy Standards (RPSes).

"Among our carbon policies, probably the biggest one we have in the country are RPSes," Greenstone said. "There is a clear upward turn in prices once a state adopts an RPS, and it just kind of marches up as the standards get more stringent."

Regarding criticisms that the paper approached too large of a topic with too much variation among the factors surrounding implementation in each state, Greenstone used the metaphor of a snowfall.

"Yes, each of the RPS policies is like a snowflake," he said. "But when you wake up in the morning after a bunch of snowflakes have fallen, there's snow on the ground."

Full coverage available at The Atlantic.

Editor's note: In keeping with economics guidelines, Greenstone's study, although not yet peer-reviewed, can be discussed with journalists and openly with other economists. The presentation of his results is therefore subject to change.