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This study assesses potential economic impacts to renewable energy and wood biomass markets and regional impacts on the production of renewable energy to meet national energy goals associated with EPA’s final Prevention of Significant Deterioration (PSD) and Title V Greenhouse Gas Tailoring Rule (Tailoring Rule). The stated intent of the Tailoring Rule is to reduce the number of facilities required to obtain New Source Review and Title V operating permits under the Clean Air Act based on greenhouse gas (GHG) emissions. However, the rule discourages capital investment in wood-based renewable electricity generation through two mechanisms. First, the rule treats carbon emissions from biomass combustion identically to fossil fuels emissions, thereby expanding the rule’s reach to include fuel sources previously considered to not emit net carbon. Second, EPA’s permitting process under the Tailoring Rule places three discrete economic burdens on regulated entities: 1) costs associated with obtaining permits; 2) increased capital costs for facility investments due to delays while obtaining permits; and 3) costs associated with technology requirements, such as Best Available Contro