George Mason
University's Center for Regional
Analysis just released a study today
regarding Virginia's state of renewables. You can read more about it in the Washington Post.
The analysis was
based on the 2010 Virginia Energy Plan, which projected a need for an additional
19,448 megawatts of demand over the next 25 years. The study found that half of that demand
could be met through biomass, solar and wind sources. The study also concluded
that pursuing a portfolio of renewable power sources through 2035 would create
tens of thousands more jobs than relying
only on either coal or natural gas.
It reminds me of a
study done in Michigan a few years ago projecting the economic impact of RPS
standards on the state of Michigan. The study, A study of Economic Impacts from the Implementation of a Renewable Portfolio Standard and an Energy Efficiency Program in Michigan, was conducted by NextEnergy Center.
This study concluded that a renewable
portfolio standard of 15% by 2020 would lead to an increase in total gross
state product in net present value of $533 million compared to projections with
traditional fuel generated power. The same study projected 6,381 more jobs with the RPS than without and
a reduction of CO2 emissions of over 27 millions of metric tons.
Click on the links
to read more about these two studies or NREL's recent study about the economic
impact of the 1603 Treasury grants for renewable energy.
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