Energy Exchange

Report: More renewables could mean 5,000 new jobs and $8B in investment for Ohio

Last year, I highlighted how voters in Ohio overwhelmingly support developing more clean energy like solar and wind over more traditional resources like coal.

Ohio has a remarkable opportunity to capture the benefits of a growing renewable energy market. A new report shows the state could boost supply chains and create local jobs by developing more wind and solar, potentially creating more than 5,500 jobs and bringing in nearly $8 billion in investment.

Multibillion-dollar opportunity

Ohio is part of PJM, the regional grid operator for all or part of 13 states. Eleven of these (including Ohio) have state requirements for a minimum amount of renewable energy and, under the current laws, these requirements will be 67 percent higher across PJM in 2025 than today. Read More »

Also posted in Clean Energy / Comments are closed

New utility settlement highlights how Ohio utilities are leaving FirstEnergy behind on clean energy

A new utility settlement in Ohio is loaded with promising clean-energy components. Meanwhile, Ohio-based utility giant FirstEnergy continues to cling to the energy sources of the past.

Encouraging settlement

Along with FirstEnergy, Duke, and AEP, Dayton Power & Light (DP&L) is one of Ohio’s four investor-owned utilities that deliver electricity to people’s homes and businesses.

In DP&L’s recent rate case (a process that sets customers’ electricity delivery rates), the utility and environmental groups, including Environmental Defense Fund (EDF), have reached a settlement that includes the following: Read More »

Also posted in Clean Energy / Read 2 Responses

An electrified transportation future could create thousands of jobs for this Midwestern state

Today General Motors offers two models of electric vehicles (EVs). Within the next five years, the automotive giant will offer at least 20 EV options.

That’s just one of many signs pointing to a more efficient, connected, and electrified transportation sector, which presents a prime opportunity for Ohio companies. In fact, a recent report from Synapse Energy finds that Ohio could bring in over $6 billion in investment and net more than 9,000 jobs by expanding the state’s automotive leadership into an electrified, more efficient future.

Why Ohio?

With a thriving automotive supply chain, Ohio has a strong foundation for investment and growth by electrifying transportation. Specifically, the state is already heavily involved in the areas of the auto industry that will change the most with electrification: internal combustion engines, transmissions, and other drivetrain components.

And according to a 2017 report, Ohio has more than 27,000 jobs – and 80 facilities – building clean and fuel-efficient vehicle technology. Only the states of Michigan and Indiana have more. Read More »

Also posted in Clean Energy / Comments are closed

New report: 5 energy innovations that Ohio can use to attract $25 billion in investment

Why should Ohio ramp up its investment in energy innovation? More than 20,000 jobs and $25 billion in capital are on the line.

That’s according to a new report that outlines a vision for Ohio’s energy future and economic development. The report draws from the insights and experiences of a diverse group of advisors from across the state’s business, regulatory, academic, labor, and manufacturing sectors.

Here’s why now is a prime moment for Ohio to seize this multibillion-dollar opportunity, which will bring about a cleaner, more efficient energy system for Ohioans.

Five big opportunities

With the state’s largest utility constantly asking for a bailout and state legislators repeatedly trying to gut clean energy standards, Ohio isn’t exactly a leader on energy innovation. But it can be.

The report by Synapse Energy Economics, called Powering Ohio: A Vision for Growth and Innovative Energy Investment, highlights five areas for growth:

  1. Attracting investment from corporate clean energy leaders;
  2. Electrifying transportation, with a focus on electric vehicles;
  3. Building new clean electricity generation, like wind and solar power;
  4. Boosting Ohio’s energy productivity through energy efficiency; and
  5. Investing in a 21st century electric grid.

Taking advantage of these five related opportunities will net more than 20,000 jobs and $25 billion in investment dollars for Ohio, while enhancing productivity and lowering costs. Read More »

Also posted in Clean Energy, Energy Financing, Energy Innovation, Grid Modernization / Read 1 Response

Dear FirstEnergy, America doesn’t need your coal plants

Why do grocers mark down the price of asparagus in the spring, or strawberries in the summer? Because they’re in season and stores have excess supply, and they need to increase demand by cutting prices. The lower prices are a sign, or “price signal,” of excess supply, and the grocers are following the economic law of supply and demand.

Electricity markets follow the law of supply and demand, too. Falling electricity prices are a price signal that we have more power plants than we need. The Federal Energy Regulatory Commission (FERC), which oversees our nation’s electric grid, reports on wholesale electricity prices, and their latest State of the Markets report is an eye-opener.

The report shows that we’re retiring old coal plants at a fast clip, but we’re adding new natural gas plants at an even faster clip – causing power prices to plummet. In PJM, the largest regional electricity market in the country, 1.9 GW of coal plants closed in 2017 as 2.8 GW of new natural gas plants were added. Read More »

Also posted in Electricity Pricing, FirstEnergy, Illinois / Comments are closed

Fundamentals should guide FERC on PJM’s misguided state policy proposal

Federal regulators are currently considering a proposal that could fundamentally alter how our nation’s power markets work in tandem with state-crafted public policies.

The change being considered, submitted by the nation’s largest grid operator, PJM, would increase electricity prices and undermine state policies in the 13 states and D.C. where PJM operates. Today, Environmental Defense Fund (EDF), alongside other clean energy advocates, filed in opposition to this proposal.

PJM’s proposal before the Federal Energy Regulatory Commission (FERC) is dense and complex (for a great primer on the universe of issues surrounding a similar proposal, see this blog post by NRDC and this article by Vox’s David Roberts). At its core, however, PJM’s proposal centers on a subject that is elemental to the electricity sector: the interplay and interaction between states and federal regulators. PJM should not thrust itself into a public policymaking role, nor should FERC become judge and jury of state policies. Instead, PJM and FERC should facilitate state policy choices. Read More »

Also posted in Clean Energy, Electricity Pricing, Illinois, Market resilience, New Jersey, Pennsylvania / Comments are closed