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8 Vivid Charts – 8 Reasons for a Solar Energy Standard in Minnesota
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8 Vivid Charts – 8 Reasons for a Solar Energy Standard in Minnesota

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These charts on the economics and economic impact of solar energy in Minnesota present a stunning visual defense of an aggressive solar energy standard.

These charts on the economics and economic impact of solar energy in Minnesota present a stunning visual defense of an aggressive solar energy standard.

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  • 1. Why a Minnesota Solar Energy Standardis a Great IdeaIn 8 Vivid ChartsPresentation by John FarrellILSR’s Director of Democratic Energyjfarrell@ilsr.orgMay 13, 2013
  • 2. 0%2%4%6%2014 2016 2018 2020 2022 2024 2026 2028 2030NVAZNMCOILNJDEMDMinnesota’s Proposed Solar Standard in ComparisonNM other state standardsMN HF956DOE SunShot goal14% by 2030NJNM other state benchmarksNMCOMDAZDFLInd.GOP 76%83%99%Support for using more solar powerJohn Farrell, 5/1/13MNHouseSenate
  • 3. $0$0.05$0.10$0.15$0.202014 2016 2018 2020 2022 2024Projected Average Cost of Solar in MinnesotaAverage Solar Electricity CostAverage Solar Cost with FederalTax CreditResidential Retail Electricity PriceCommercial Retail Electricity PriceJohn Farrell, 5/3/13Annual % Change-7%+2%$ per kilowatt-hour
  • 4. 0¢3¢6¢9¢12¢1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012Rapidly Rising Average Retail Electricity Prices in Minnesota¢ per kilowatt-hourJohn Farrell, 5/13/13Residential (c/kWh)Commercial (c/kWh)Industrial (c/kWh)
  • 5. 5¢6¢7¢8¢9¢10¢2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013How the Proposed 1.33% Solar Assessment Compares toRising Average Retail Electricity Prices (MN)1.33%Actual utility rate increasesProposed solar assessment¢ per kilowatt-hourJohn Farrell, 5/13/13
  • 6. 0¢1¢2¢3¢4¢5¢Blended Cost of MN Solar Incentive Program20142015201620172018 2019 2020 2021 2022 2023 2024 20251,370 MW2.7¢/kWhFederalITCreducedto10%52586684107137176138138138138138AVGTOTALJohn Farrell, 5/6/134% by 2025 for IOUs only
  • 7. $0$100$200$300$4002014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025MillionsJohn Farrell, 5/8/13The Proposed Solar Energy Standard LeveragesMuch More Private Capital than Public Incentives2.76:1 3.09:13.53:12.57:12.92:13.35:13.95:1Private CapitalPublic Incentive 4.90:16.59:110.2:116.2:134.8:1Megawattsinstalled 52 59 66 84 108 138 177 138 138 138 138 1388.94-to-1Weighted Average:
  • 8. CaliforniaArizonaNew JerseyNevadaColoradoNorth CarolinaMassachusettsPennsylvaniaHawaiiNew MexicoNewYorkMaryland*OhioIllinoisMissouriCaliforniaArizonaNew JerseyNevadaColoradoNorth CarolinaMassachusettsPennsylvaniaHawaiiNew MexicoNewYorkMaryland*OhioIllinoisMissouri0 12,500 25,000 37,500 50,000Solar Capacity andSolar Jobs, 2012750 1,500 2,250 3,000Installed MWJobsMore MW, more jobsData from the Solar Foundation
  • 9. Solar energy from a homerooftop in Minnesota canbe produced for 18.4¢ perkilowatt-hour, right wherewe need it.Electricity from Xcel Energy’s 3 new peakingnatural gas power plants will cost between 28¢and 65¢ per kilowatt-hour*Solar for Minnesota*California Energy Commission, 2010; Does not include cost of new transmission lines0¢10¢20¢30¢40¢50¢60¢70¢18.4¢up to 65¢John Farrell, 5/8/13Cost of Energy