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Renewable Energy Project Economics, Policy and Incentives

Renewable Energy Project Economics, Policy and Incentives. NARUC Staff Subcommittee on Accounting and Finance October 8, 2007. Dr. Lola Infante Manager, Generation Fuels and Market Analysis. Renewable energy: Economics, barriers and incentives. Market penetration

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Renewable Energy Project Economics, Policy and Incentives

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  1. Renewable Energy Project Economics, Policy and Incentives NARUC Staff Subcommittee on Accounting and Finance October 8, 2007 Dr. Lola Infante Manager, Generation Fuels and Market Analysis

  2. Renewable energy: Economics, barriers and incentives • Market penetration • Renewables’ share in power generation remains modest • Growth driven by wind • Drivers • Renewable energy standards • Financial incentives • Cost remains a main barrier for renewable deployment • Capital cost • Transmission and integration • Intermittency requires additional reserves • Growth will depend on policy and technology developments

  3. Energy Sources and Uses Sources: U.S. Department of Energy, Energy Information Administration, 2004 data.

  4. Renewable Energy Net Generation - 2006 * Includes wind, solar, biomass and other non-hydropower renewable energy sources. ** Includes generation by batteries, chemicals, pitch, and purchased steam. Source: U.S. Department of Energy, Energy Information Administration, 2006 data

  5. Growth of renewables Source: U.S. Department of Energy, Energy Information Administration, 2006 data

  6. Growth of Wind million MWh Sources: EIA Electric Power Monthly and EIA Electric Power Annual.

  7. Renewable generation in the states generation mix Data: U.S. Department of Energy, Energy Information Administration, 2006 data Only shown the states with total renewable generation >1%

  8. Where renewable generation is Wind Data: U.S. Department of Energy, Energy Information Administration, 2006 data Only shown the states with total renewable generation >1% of US total

  9. Drivers • Renewable Energy Standards in the states (26 + DC) create a “regulatory” demand for renewables • The PTCand other financial incentives facilitate the financing of new capacity and lower its cost

  10. 26 States & The District of Columbia Have Renewable Energy Standards

  11. Resources: Wind Power Source: NREL, Wind Energy Resource Atlas of the United States

  12. Resources: Solar Radiation – Tracking Concentrator Source: NREL

  13. Resources: Biomass Source: NREL

  14. Resources: Geothermal Source: NREL, Geothermal Resources Estimates for the US, Technical Report, NREL/TP-840-40665, Nov. 2006

  15. Costs are increasing: Wind Power Prices

  16. Costs are increasing: Project costs increases are a function of turbine prices

  17. Transmission Access for Renewable Energy Source: Global Energy Decisions, Inc., The Velocity Suite

  18. Future Contribution of Renewables to the National Fuel Mix BAU - generation 2030 2006 Source: U.S. Department of Energy, Energy Information Administration, Annual Energy Outlook 2007 Early Release Source: U.S. Department of Energy, Energy Information Administration, 2006 data

  19. Future Contribution of Renewables to the National Fuel Mix

  20. Thank you! Contact information: Lola Infante linfante@eei.org (202)508-5133

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