The High Cost of 100 Percent Carbon-Free Electricity by 2040

Governor Walz’s Proposal Would Cost Minnesota $313 Billion Through 2050 and Lead to Blackouts

Preview:

The 100 percent carbon-free electricity by 2040 mandate proposed by Minnesota Governor Tim Walz would cost the state $313.2 billion through 2050 and lead to devastating blackouts.

Governor Walz’s Proposal would commit the state to obtaining 100 percent of its electricity from carbon-free energy sources by 2040, but his proposal would not legalize the construction of new nuclear power plants in Minnesota or allow the hydroelectric electricity generated in Canada that Minnesotans already purchase to count as “carbon-free.” As a result, the Walz Proposal is essentially a wind, solar, and battery storage mandate.

We also investigated another scenario, called the Lower Cost Decarbonization (LCD) Scenario, that uses new nuclear power plants, coal plants with carbon capture and sequestration (CCS) equipment, battery storage, and Canadian hydro and found that this suite of technologies would reduce emissions for a much lower cost.

This report is the most robust modeling on the true cost of attempting to power our state using wind turbines, solar panels, and battery storage technology.

A full copy of the report can be viewed here.