Yes We Can: Southern Solutions for a National Renewable Energy Standard

Yes We Can: Southern Solutions for a National Renewable Energy Standard
By CostBenefit on Apr 6, 2009 | In General, Air, Energy, Climate Change GHG Carbon CO2, Economic Development and Green Jobs, South, Regulatory Analysis, Research Institute NGO NonProfit, Costs and Benefits, Free Report at Time of Entry | Send feedback »

Executive Summary:
The Southeast has the ingenuity and renewable energy resources to become more prosperous and energy independent. Utilities across eleven Southeastern states can tap homegrown clean energy resources to meet a significant percentage of electric power demands. Our analysis of renewable energy estimates in the region show sufficient resources to fulfill an aggressive national mandate for renewable energy.

Today, renewable energy resources generate enough power to serve approximately 5% of retail electric sales in the Southeast.
Near-term renewable energy resources can generate more than 15% of forecast electricity demand by 2015. If utilized today, these resources would represent about 29% of today's retail sales.
The Southeast's resources are ample, diverse and widely distributed. Utilities and state regulators will have flexibility in choosing the solutions that are in the public interest.
With energy efficiency improvements, renewable energy could meet 30% or more of the Southeast's need for electric power.
One day, renewable energy and energy efficiency may be able to meet nearly all electricity demand.

In summary, the Southeast can meet a national renewable energy standard of at least 15% by 2015, 20% by 2020, and 25% by 2025 with today's technology and tomorrow's jobs.

The report also notes that a national Renewable Energy Standard (RES) that reaches a target of 25% by 2025 can play an important role in strengthening our region's economy. Developing the Southeast's renewable energy potential will create new economic opportunities and spur demand for a variety of skilled

trades and professional careers.

For example, in 2007 the University of Florida partnered with the USDA Forest Service and other organizations to study the economic impact of a 20 or 40 MW wood-fueled power plant. The study looked at the impact in counties and states throughout the South, including 15 counties in Tennessee, Georgia, Florida and the Carolinas, and found that one 20 MW plant could create an average of 177 full-time, part-time and seasonal jobs while a 40 MW plant could create an average of 393 jobs. Furthermore, the analysis revealed that a 20 MW facility would generate average additional economic activity of $11.07 million and a 40 MW facility would produce nearly $23 million in economic activity (University of Florida 2007). A 2008 analysis of North Carolina's state-level RES also shows economic benefits. Accounting for job loss and the economic consequences of potential rate increases, the analysis indicated that the RES would result in a net job gain of nearly 2,050 jobs per year over 20 years by the year 2021 (La Capra 2008).

Prepared by: Southern Alliance for Clean Energy;
P.O. Box 1842 Knoxville, TN 37901 1.866.522.SACE www.cleanenergy.org
February 12, 2009 Revised February 23, 2009