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With a ruling that the Federal Housing Finance Agency (FHFA) must do a formal rulemaking on its 2010 decision to torpedo the innovative local finance tool for energy efficiency and clean energy retrofits, a federal judge gave Property Assessed Clean Energy (PACE) financing new life.
Earlier this year, it looked as if prospects were bleak for PACE in 2011, with some progress on Commercial PACE and a new director at advocacy organization PACENOW, but agonizingly slow steps on federal legislation and litigation.
Today’s ruling means FHFA has to start over, but it does not overturn the agency’s 2010 advisory against PACE, leaving the program in limbo until the formal rulemaking is complete. Here’s hoping PACE finally wins through, a great tool for saving energy and creating jobs at the local level.
In August 2011, ILSR Senior Researcher John Farrell gave this presentation to a group of rural utilities and environmental organizations in Kentucky. The slides illustrate the enormous renewable energy potential in Kentucky and the cost-effectiveness of clean, local power in meeting the state’s electricity and economic needs. Clean Local Power for Kentucky View more presentations… Continue reading
Updated 8/26/11 and 9/1/11
Many renewable energy advocates argue that the market for solar renewable energy credits (SRECs) is a more cost-effective tool for incentivizing solar power than a feed-in tariff (or CLEAN contract) set in a regulatory proceeding.
This chart illustrates the installed cost of solar in New Jersey from 2006 to 2011 (as reported by the National Renewable Energy Laboratory in Tracking the Sun III and converted to levelized cost) in green, the New Jersey SREC spot market price in red, and the German feed-in tariff price (constant exchange rate, adjusted for NJ solar insolation) for rooftop solar projects 30 kilowatts and smaller in blue. (Update 9/1: the previous chart showing solar cost in $ per Watt is here).
Does a “market-based” policy do a better job of matching the actual cost of solar?
This comes to mind: “one of these things is not like the other…”
Update 8/26: I should add that the German feed-in tariff is the only source of revenue for solar projects, whereas the SREC in New Jersey comes in addition to the federal 30% tax credit and accelerated depreciation (and net metering). Since the two federal incentives (and net metering values) have not changed, the fact that the SREC value is rising against the tide of falling solar prices is even more absurd.
Burlington Telecom, a publicly owned broadband network in Vermont, transitioned from a hopeful star of the community broadband movement to the first example used by those opposed to government investing in the infrastructure of the 21st century. Continue reading
Update October 2012: The 2011 Wind Technologies Market Report shows weak, but consistent economies of scale in wind power projects. It seems obvious: every extra turbine in a wind farm comes at a lower incremental cost, making the biggest wind power projects the most cost effective per kilowatt of capacity. If you bet $20 on… Continue reading
Update 8/23/11: While solar can be built right under high voltage transmission lines, it can’t necessarily interconnect right at the tower. Thus, this piece should be read as an analysis of land use rather than easy interconnection.
What if the U.S. could get 20 percent of its power from solar, near transmission lines, and without covering virgin desert?
It can. Transmission right-of-way corridors, vast swaths of vegetation-free landscape to protect high-voltage power lines, could provide enough space for over 600,000 megawatts of solar PV. These arrays could provide enough electricity to meet 20% of the country’s electric needs.
It starts with the federal Government Accountability Office, which estimates there are 155,000 miles of high-voltage transmission lines in the United States (defined as lines 230 kilovolts and higher). According to at least two major utilities (Duke Energy and the Tennessee Valley Authority), such power lines require a minimum of 150 feet of right-of-way, land generally cleared of all significant vegetation that might come in contact with the power lines.
That’s 4,400 square miles of already developed (or denuded) land for solar power, right under existing grid infrastructure.
Of course, the power lines themselves cause some shading, as may nearby trees (although the New York Public Service Commission, and likely other PSCs, has height limits on nearby trees that would minimize shading on the actual right-of-way). To be conservative, we’ll assume that half of transmission line right-of-way is unsuitable for solar.
That leaves 2,200 square miles of available land for solar. With approximately 275 megawatts (MW) able to be installed per square mile, over 600,000 MW of solar could occupy the available right-of-way, providing enough electricity (over 720 billion kilowatt-hours) to supply 20 percent of U.S. power demands (note: we used the average annual solar insolation in Cincinnati as a proxy for the U.S. as a whole).
Making big strides toward a renewable energy future doesn’t require massive, remote solar projects, but can use existing infrastructure or land to generate significant portions of our electricity demand. Transmission right-of-way, providing 20% of U.S. electricity from solar, is just one piece of the puzzle, with another 20% possible using existing rooftops and a solar potential of nearly 100% from solar on highway right-of-way. Solar can help achieve a 100% clean – and local – energy future.
The results of a new study suggest that the key to reversing the long-term trend of stagnating incomes in the U.S. lies in nurturing small, locally owned businesses and limiting further expansion and market consolidation by large corporations. Continue reading