Geographic attribution of an electricity system renewable energy target: Local economic, social and environmental tradeoffs

The 2014 Intergovernmental Panel on Climate Change (IPCC) report asserts that investment in low-carbon electricity production will need to rise by several hundred billion dollars annually, before 2030, in order to stabilize greenhouse gas concentrations in the atmosphere by 2100. In recognition of this urgent need to mitigate climate change, many governments have already established policies to spur renewable energy investment in the electricity sector. One such policy measure is a renewable energy target (RET), which sets a target percentage of electricity production to be generated from renewable sources by a specified date. Variations on this policy have been implemented around the world, from the EU 20-20-20 to diverse renewable portfolio standards in U.S. states and municipalities. This work analyzes economic, environmental and social aspects of a geographic attribution (i.e. Isolated, Regional or Country) of an RET to gain insights on the associated tradeoffs. In the case study of the Azores Islands, Portugal, the regional geographic attribution of an RET captures the best of all three tradeoffs. (C) 2015 Elsevier Ltd. All rights reserved.