QUICK NEWS, January 14: MONEY IN SOLAR BEATS S&P 500; OFFSHORE WIND PUSHES AHEAD ON LAKE ERIE; MICHIGAN’S NEW ENERGY POTENTIAL

MONEY IN SOLAR BEATS S&P 500 Report: Forget Stocks, Invest In Solar Panels

Tom Kenworthy, January 13, 2015 (ClimateProgress)

“…[I]n all but 4 of the 50 largest cities in the U.S., installing a fully-financed 5 kilowatt solar panel system makes more financial sense than investing in a popular stock market index fund. Further, the same system would beat the costs of buying energy from local utilities in 42 of those 50 cities…A key qualifier in [ Going Solar in America from the North Carolina Clean Energy Technology Center] is that the benefits of installing residential solar photovoltaic systems are greatest when homeowners finance the systems (at an assumed annual interest rate of 5 percent) rather than buying them upfront. And the study does not investigate the availability of such loans. The study finds that in upfront purchases of solar, residents in just 14 out of the 50 largest U.S. cities would pay less for electricity than if they buy from their local utility…[and solar would be] a better investment than the broad stock market index fund in 20 of the 50 cities...Looking at the levelized cost of energy for solar PV systems (the average cost per kilowatt over the expected 25-year life span), the NC Clean Energy Technology Center’s study found that nearly 21 million homeowners in 42 of the nation’s largest cities would save money with financed solar systems over getting their power from the grid. More than 9 million homeowners in 14 of the cities would save money even if they pay upfront for solar systems…” click here for more

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OFFSHORE WIND PUSHES AHEAD ON LAKE ERIE US Offshore Wind Energy Potential Is Staggering

Joshua S. Hill, January 13, 2015 (Clean Technica)

“…The US has a projected 4,223 GW worth of offshore wind generating potential — with 50 GW from the Ohio waters of Lake Erie alone…The Lake Erie Energy Development Corporation was founded in 2009 to initially build wind turbines in Lake Erie…Lake Erie claims that Europe has at least 80 offshore projects in operation or under construction, compared to [none in] the US…Freshwater offshore wind is an interesting proposition, however, and compared to Europe’s primarily sea-based offshore development, America has a number of potential sites almost-purpose built for freshwater offshore wind…Enter Lake Erie’s ‘Icebreaker’ demonstration project. Consisting of six wind turbines off the coast of Cleveland, Icebreaker will help the company begin what it hopes is a large offshore wind industry in Ohio and the Great Lakes region…[T]he Lake Erie Energy Development Corporation (LEEDCo) isn’t looking overseas for manufacturing components…[but] is building its own US supply chain.” click here for more

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MICHIGAN’S NEW ENERGY POTENTIAL Michigan study shows ‘modest’ costs to expand renewables

Andy Balaskovitz, January 13, 2015 (Midwest Energy News)

“Michigan could expand its renewable energy portfolio standard to 25 percent over the next 10 years at a cost of $2.60 a month for the average household, according to [ Expanding The Renewable Portfolio Standard For Michigan: A Study from] the University of Michigan’s Energy Institute…That price tag could be cut in half if key federal tax credits are extended…The state is on pace to meet a 10 percent goal by the end of this year, based on a 2008 state law. Michigan lawmakers and the governor’s office have been planning what to do next in terms of clean energy goals and are expected to propose policy changes this year…[The] report projects costs under three different scenarios compared to a business as usual model: 20 percent by 2030, 25 percent by 2025 and 40 percent by 2035. The 2030 goal would cost the average household $1.70 a month, or less than 2 percent of the customers’ bill. The most ambitious 2035 goal would cost the average household $6.70 a month…By the final year of each scenario, carbon intensity could be reduced by 13 percent, 20 percent and 33 percent in the 2030, 2025 and 2035 goals, respectively…” click here for more

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