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Consumer Demand for Renewable Energy = Consumer Savings Tom Darin American Wind Energy Association

Explore how consumer demand for renewable energy is driving cost reductions and saving consumers money. Discover the benefits of wind power, transmission upgrades, and retiring older generation plants. Find out how market expansion and policy changes can lead to even greater consumer savings.

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Consumer Demand for Renewable Energy = Consumer Savings Tom Darin American Wind Energy Association

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  1. Consumer Demand for Renewable Energy = Consumer Savings Tom Darin American Wind Energy Association National Association of State Utility Consumer Advocates June 2019

  2. The Setting. Consumers want more renewable energy. Polls near 90%: Energy independence. Inexhaustible fuel supply. Emissions and water savings. But at what cost? • Today we will examine: • Purchasers and policy makers are responding in force to consumer demand • In additional to other benefits, this is saving consumers $$$$

  3. C&I customers contracted recorded amounts of wind power in 2018 Source: AWEA U.S. Wind Industry Fourth Quarter 2018 Market Report

  4. 2019 State Legislative Activity

  5. Consumer Savings: Cost of Energy 69% Decrease Market Drivers: Cost Reductions LCOE Comparison Unsubsidized Wind LCOE Wind is one of if not the lowest cost sources of new power in most U.S. markets Source: Lazard’s Levelized Cost of Energy Analysis 12.0

  6. Consumer Savings: Transmission • Transmission saves consumers money: • The Southwest Power Pool (SPP), quantified consumer savings from transmission built from 2012-2014. It showed: • $800 saved for every person the SPP serves. • Savings 3.5 times greater than the cost of the grid upgrades. • Almost $12 billion in net present value benefits for consumers over the next 40 years.

  7. Consumer Savings: Retire, Replace & Securitize • Getting to 100% • Replace older generation with low-cost wind power and: • Avoid operation, maintenance and fuel costs • Finance undepreciated capital costs with ratepayer backed bonds

  8. Added Savings in West: Market Expansion • No unified power market in West, instead – 38 separate balance authorities • In 2014, Energy Imbalance Market started – a 7% slice of fully integrated power market • Cumulative consumer savings of $650 million through 2019 Q1

  9. Two Takeaways: Consumers want more renewable energy, and It is already saving them money Two Asks to achieve more savings: Support utility and large company RE acquisitions and the new policies responding to this demand In the West, work with political leaders and utilities to expand the EIM and move to a fully integrated western power market

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