Sept. 2 -- The United States´ adoption of a renewable energy standard of 20 percent would save individuals and businesses $49 billion in electricity and natural gas costs by 2020, according to a study by the Union of Concerned Scientists, an environmental advocacy group.
The report also concludes that more than 355,000 jobs would be created if the United States obtained 20 percent of its electricity from renewable energy sources, including wind and solar.
"Renewable energy can create good jobs and save consumers money while reducing our growing dependence on energy imports from politically unstable regions around the world," said Alan Nogee, clean energy program director at the Union of Concerned Scientists.
The study calculates that the savings to consumers on utility bills would amount to $35 billion for electricity through 2020 and $14 billion for natural gas. Renewables would achieve those savings primarily by reducing the demand for and the price of natural gas, which newer power plants often use to generate electricity, according to the advocacy group.