Downgrading Enterprise to Standard Edition I'm being asked to downgrade some non critical database environments from Enterprise Edition 2012 to Standard Edition 2012. Due to ongoing licensing costs. 

Can I do this? What are the drawbacks?

Is there a process similar to upgrading I can do? Can I just run the standard edition install as an upgrade?

We currently don't have development environment for this databases.
I do not believe there is a "downgrade path" that's officially supported for what you want to do. Nothing that is full proof or baked in, in other words. I would take full backups of all databases, then uninstall and reinstall (also reinstall required SPs). Microsoft's supported upgrade paths: https://msdn.microsoft.com/en-us/library/ms143393.aspx