Ribbon cutting ceremony for the Fort Carson solar array. U.S. Army photo by Michael J. Pach.
At the U.S. Defense Department, the multiple national security threats created by sea level rise and severe weather command daily attention; climate change has been on its radar for years. The recently published Quadrennial Defense Report (QDR), an assessment of U.S. defense readiness, addresses the growing threat that climate change poses to military capabilities and global operations. Adding to that, the newly released Intergovernmental Panel on Climate Change report states that extreme weather events will begin occurring more frequently across the globe. As first responders in the wake of extreme weather events, the U.S. military will be called upon to provide emergency support and services for a large portion of them.
The timing of these reports highlights a growing defense challenge but also provides an opportunity for the Defense Department to lead from the front in climate change mitigation and adaptation. Read More
By: Matt Golden, Senior Energy Finance Consultant
Texas currently has the highest rate of energy consumption of any U.S. state and accounts for 10% of the country’s total energy consumption. Most of that energy goes to energy-intensive industries, such as aluminum, chemicals, forest products, glass, and petroleum refining, which consume 50% of the state’s energy, compared with a national average of 32%.
Last year, the Texas legislature passed statewide legislation enabling cities to use their property taxes as a way to finance clean energy and energy efficiency for industrial, agriculture, water, and commercial buildings. This innovative financing tool, generally referred to as property-assessed clean energy (PACE), has the potential to unlock a considerable amount of funding for both renewable energy and energy efficiency projects in the state, while simultaneously offering building owners cheaper financing options and secure repayment through their property tax assessment. Read More
Indiana State Capitol, Source: David Schwen
At the end of March, the Indiana legislature passed a bill repealing the state’s energy efficiency standard, becoming the first state in the nation to roll back its energy savings goals. Governor Mike Pence could have signed the bill into law or he could have vetoed it. He did neither; instead, the bill became law because he took no action within the prescribed time period. His statement as to why he allowed the bill to become law left us scratching our heads.
Here’s what he said:
“I could not sign this bill because it does away with a worthwhile energy efficiency program developed by the prior administration. I could not veto this bill because doing so would increase the cost of utilities for Hoosier ratepayers and make Indiana less competitive by denying relief to large electricity consumers, including our state’s manufacturing base.” Read More
Source: Alternative Energies
The assault on successful renewable energy legislation continues, long after the facts have proven that state renewable policies deliver clean, affordable, and reliable energy solutions that the majority of Americans support. Apparently, the fossil fuel industry and its so-called “free market” allies didn’t get the memo.
There’s a great line in the opening scene of Ridley Scott’s 2000 blockbuster Gladiator where a soldier says to his general, as they are about to slaughter an overmatched foe, “People should know when they’re conquered.” The general replies, “Would you? Would I?”
So I can’t really blame the fossil fuel industry for fighting old battles in an effort to undo approaches that have increased investment in renewable energy in states around the country, created thousands of jobs, and continue to lower energy costs with each passing day. Read More
Source: American Insurance Association Flickr
Cheryl Roberto, Associate Vice President and leader of EDF’s Clean Energy Program, recently testified before the Ohio Senate Public Utilities Committee against S.B. 310, which would freeze Ohio’s energy efficiency and renewable energy standards at current levels. Sen. William Seitz, the Committee Chair, described her testimony as “passionate,” “very persuasive” and “thought provoking.”
Roberto described how the electric grid has changed. The old model, in effect for the past hundred years, relies on one-way power flows from large, centralized utility power plants, with limited customer service options and limited information available to customers on their energy usage. The new model involves two-way power flows between the utility and customers who own small, on-site solar, wind, and combined heat and power units. Customers receive detailed, real-time energy usage and price information. Read More
The energy-water nexus is gaining traction with diverse stakeholders around the world and it is becoming increasingly clear that we cannot plan for our planet’s future if we do not consider energy and water together.
Most recently, the United Nations celebrated World Water Day, launching a yearlong effort to highlight the global energy-water nexus, the chosen theme for 2014. In honor of World Water Day, the International Energy Agency (IEA) released its annual World Energy Outlook report, the first analysis of its kind to look at the impacts of water scarcity on the global energy sector. This signals a big step in the global understanding of the importance of the energy-water nexus, and reveals important insights on how regions, nations, and industries must cope with less water in a changing climate. Read More
Source: Dustin M. Ramsey
Ohio’s clean energy agenda has taken many hits in the past, particularly from the American Legislative Exchange Council (ALEC), a front group and model bill factory for many corporate interests including oil, gas, and coal. Last year, ALEC led an unsuccessful effort to repeal the state’s clean energy standard. The introduction of Ohio’s Senate Bill 310 is the group’s most recent attempt to prevent Ohioans from continuing to enjoy the many benefits of new, clean energy technologies, reasonable electricity rates, and a healthy environment.
Hearings began last week on SB 310, which would freeze any additional energy efficiency or renewable energy mandates in Ohio after 2014. This is an amendment to the landmark 2008 legislation in Ohio requiring the state to acquire 12.5percent of its energy portfolio from renewables and to reduce energy consumption by 22 percent through energy efficiency measures by 2025. If adopted, this freeze would stymie Ohio from reaching its full clean energy potential, attaining instead only about one-tenth of its 2025 renewables goal and one-fifth of its energy efficiency target. Read More
The U.S. Environmental Protection Agency (EPA) has embarked on a vital effort — accompanied by extensive outreach to states, power companies, environmental organizations, and other stakeholders, including you — to establish the nation’s first limits on carbon pollution from fossil fuel-fired power plants.
EPA was directed to take this critical step for public health and the environment in the President’s Climate Action Plan that was released last summer. Protective and well-designed Carbon Pollution Standards will provide important benefits for all Americans.
Fossil fuel-fired power plants emit 40 percent of the nation’s carbon pollution, as well as significant amounts of mercury, acid gases, and pollutants that contribute to smog and particulates. Read More
Also posted in Air Quality, Climate
By: Matt Golden, Senior Energy Finance Consultant
Source: LA Better Buildings Challenge
Environmental Defense Fund’s Investor Confidence ProjectSM (ICP) is pleased to announce a partnership with the Los Angeles Better Buildings Challenge to help develop a more robust marketplace for energy efficiency retrofits in the city. Los Angeles has set a goal of achieving 20% energy savings across 30 million square feet of existing buildings by 2020 as part of the Better Buildings Challenge, a national leadership initiative sponsored by the U.S. Department of Energy. If achieved, it is estimated that this 20% reduction in energy costs will create over 7,000 high-quality local jobs, and avert annual carbon emissions equivalent to taking more than 18,000 cars off the road.
The LA Better Buildings Challenge will be promoting the ICP Protocols through its network of building owners and industry stakeholders to help bring even greater transparency and accountability to the energy efficiency market by introducing a system of standardization in the way commercial building retrofits are developed, funded, and managed. The ICP framework assembles best practices and existing technical standards into a set of protocols that define a clear roadmap for developing projects, determining savings estimates, and documenting and verifying results. Read More
By: Victor A. Rojas, Senior Manager, Financial Policy
Source: 401(K) Flickr
The past two decades have seen a tremendous growth in our understanding of the climate change imperative and in the enormity of the challenge that confronts us. It has become clear that meeting climate change mitigation objectives will require the aggressive deployment of clean energy technologies, substantial amounts of capital, and creative methods of engaging that capital around these activities.
Transitioning to a low-carbon economy costs money (and lots of it). In fact, the International Energy Agency has estimated that $10.5 trillion will be required between 2010 and 2030 to fund this transition worldwide. Given the continuing challenges confronting global economies, the bulk of the capital needed to transition to this clean energy future will, by necessity, be private capital. As a result, creative financing solutions are essential to engaging and unleashing private, institutional capital, and accelerating the flow of those funds toward clean energy projects.
But the question of how to most effectively unlock the enormous amounts of capital necessary to pay for our transition to a low-carbon economy still remains. Read More