Exhibit 4: Capacity Expansion Results Across Transmission Pathways, with EIR Financing

Assumes cost of financing drops from 10% to 6% for transmission and clean generation assets. With a 40-year economic lifetime, the levelized cost of transmission drops from $200/kW-year to $125/kW-year. With a 20-year economic lifetime, the levelized cost of clean generation drops from $100/kW-year to $74/kW-year.
Source: RMI analysis.