QUICK NEWS, 5-12: THE WORTH OF ILLINOIS WIND; BANK’S $200 MIL TO PV SUN; IBERDROLA NEW ENERGY EARNINGS JUMP; NO CAROLINA WANTS NEW ENERGY

THE WORTH OF ILLINOIS WIND
Investing in Illinois
May 2011 (Illinois Wind Energy Association, American Wind Energy Association and Wind on the Wires)

"Over 3000 megawatts of new wind energy generation have already secured county permits in Illinois, investments that will bring cleaner air and water to Illinois residents. But according to a new economic analysis, these projects are vital to Illinois’economy over the coming decades.

"These projects are among the largest private infrastructure investments planned in Illinois, and will create thousands of well-paying jobs, millions in lease payments to Illinois farmers and landowners, and millions more in new, local property tax revenue. But without changes to Illinois’ Renewable Energy Standard law, these projects may never reach construction."

click to enlarge

"Performed using the US Department of Energy’s Jobs and Economic Development Impacts (JEDI) model, this analysis was completed by the Illinois Wind Energy Association, Wind on the Wires and the American Wind Energy Association…

"The main findings of the analysis…[showed that an] average 100MW project creates…150temporary construction jobs…[and] 10 permanent maintenance jobs…Each megawatt of wind power constructed in Illinois provides…[1] $9,000 to $13,000 per MW in annual local property tax revenue…[and] $3,000 to $6,000 per MW in lease payments to landowners…"


BANK’S $200 MIL TO PV SUN
U.S. Bancorp and SunRun form partnership to purchase $200 million in residential solar systems.
May 4, 2011 (SunRun)

"SunRun, the nation's leading home solar company…received an additional commitment of tax equity from a subsidiary of U.S. Bancorp to support the purchase of $200 million in residential solar systems. This commitment is U.S. Bancorp’s largest renewable energy tax equity fund to date. A market leader, SunRun installs over $1 million in residential solar every day to meet demand for its solar power service. One in eight families who switched to solar in 2010 chose SunRun.

"SunRun owns, installs, and maintains home solar panels so families don’t have to pay $30,000 or more for them. Homeowners pay a low monthly rate for clean power and SunRun takes care of everything else. In addition, SunRun customers lock in their monthly electric rates for 20 years. An average SunRun solar power service customer can save tens of thousands of dollars over the life of the agreement…"

Putting sun's money to work (click to enlarge)

"This tax equity commitment, SunRun’s fifth and largest transaction with U.S. Bancorp, is supported by the 1603 Treasury Grant Program. By allowing renewable energy projects to utilize a cash grant of equal value to the Investment Tax Credit, the 1603 program helped stimulate $9 billion of new investment in clean energy in the U.S. in 2009…

"As the only home solar company to have never run out of project financing, SunRun continues to expand and announced its Oregon launch last week. The company now makes solar affordable for families in eight U.S. states: Arizona, California, Colorado, Hawaii, Massachusetts, New Jersey, Oregon, and Pennsylvania."


IBERDROLA NEW ENERGY EARNINGS JUMP
Iberdrola Renovables Lifts First Quarter Earnings 10% to €172 Million
May 4, 2011 (Iberdrola Renovables)

"Iberdrola Renovables, world leader in wind power, recorded a net profit of €171.9 million in the first quarter of 2011, a rise of 10.1% over the same period last year.

"Gross operating income (Ebitda) rose 2.6% to €452.7 million, while Ebitda from renewables business was 9.3% higher at €428.3 million. Wind power business contributed €418.9 million to Ebitda, 92.5% of the total…By country, Spain accounted for 50.4% of Ebitda, the U.S. for 25.7%, the UK 7.7% and the Rest of the World area 10.8%, while gas business accounted for 5.4%."

click to enlarge

"Operating capacity rose 16.6% to 12,584 megawatts (MW), with 61.4% of the increase corresponding to new capacity in the U.S. where the government maintains its firm commitment to renewable energy…Iberdrola Renovables produced 7,636 million kilowatt hours (kWh) in the quarter, an increase of 12.1% which was driven largely by strong performance in the U.S. wind business where output rose 47.9% and also in the UK where it increased 22.9%.

"Solid business performance in renewable energy and improved prices in most markets where the Company operates contributed to a 13.2% rise in strong cash flow generation to €378 million…The Company thus maintained its world leadership both in operating capacity and production, and currently has 1,030 MW under construction. Cost control efforts meanwhile enabled a 1.5% efficiency gain compared to the first quarter of 2010."

click to enlarge

"During the first quarter, the Company started up the El Andévalo (Huelva) wind farm with capacity of nearly 300 MW, making it the largest in continental Europe…Outside Spain, Iberdrola Renovables achieved a 50% market share in Hungary after starting up 70 MW of new capacity at the Amundsen, Scott and Csoma II wind farms. The Company is developing another 100 MW in new projects in this country, thus consolidating its Eastern European presence.

"The Company obtained all permits required for the extension of the Whitelee and Black Law wind farms, which will become two of the three largest installations in Scotland, and has acquired the 26 MW Bii Nee Stipa wind farm in Mexico."


NO CAROLINA WANTS NEW ENERGY
84% of North Carolinians Support Increasing the Use of Clean Energy Resources
May 5, 2011 (NC Sustainable Energy Association)

"North Carolinians overwhelmingly support the increased use of clean energy sources like solar or wind energy…A recent statewide public opinion survey conducted by Fallon Research found that 83.8 percent of likely general election voters think state leaders and elected officials in North Carolina should seek more alternative or renewable energy sources in order to provide consumers and businesses with electricity…

"NCSEA polled citizens on their support of NC’s Renewable Energy and Energy Efficiency Portfolio Standard (REPS) law, which passed in 2007 and requires…[state] utilities to increase their use of clean energy resources and energy savings measures by 2021. NC was the first state in the Southeast and the 25th in the nation to adopt such a law. The survey found that 79.2% thought the REPS law was a good idea…"

click to enlarge

"The survey found that 75.3% support changing North Carolina’s energy policy in order to double the amount of solar power that energy companies like Duke Energy and Progress Energy are required to use in order to provide electricity to their customers…85% of respondents support new energy policies that would create opportunities for clean energy companies that use renewable energy resources, such as the sun and wind, to offer electricity services directly to consumers and businesses in North Carolina– thus creating more options and market competition than is currently allowed by our utilities such as Duke Energy and Progress Energy…"

click to enlarge

"As further evidence that North Carolinians do not think elected officials have done enough in recent years to advance clean energy resources across our state, 61.2% of poll respondents said they were disappointed by the lack of action by legislators with only 30.7% approving…

"Increasing the use of clean energy sources provides a number of benefits to the citizens of North Carolina: reduces our reliance on foreign sources of energy; creates new clean energy jobs in all regions of our state; and, reduces our reliance on traditional resources like coal and nuclear. Furthermore…[another study showed] consumers will save more than $500 million over the next two decades if the state meets 7.5 percent of our retail electric needs with renewable energy resources and at least 2.5 percent with energy saving solutions. NC’s REPS law requires 7.5% of renewable energy sources and up to 5% from energy efficiency…"