In the transition to renewable energy, the US state of Hawaii is already punching above its weight, with a plan to reach 40 per cent by 2030, and a mandated goal of 100 per cent by 2045.
But a new report from the Rhodium Group and Smart Growth America has found that it would be cheaper and better for the economy of the Aloha State to double down on that trajectory, and shoot for as much as 84 per cent renewables by as early as 2030.
“It’s cheaper to go faster than to stick with our current targets,” said the report’s authors.
The report, commissioned by seed funding NGO Elemental Excelerator, says a target of 58-84 per cent renewables by 2030 could generate up to $US2.9 billion in new investment for Hawaii, $3.8 billion in energy system cost savings and a massive 70 per cent cut in power-sector oil demand.
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