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How green is the stimulus package?  - Renewable Energy Provisions  Cai Steger, Energy Policy Analyst NRDC Center for Market Innovation August 27, 2009
Key messages ,[object Object],[object Object],[object Object],[object Object]
Capital investment available for renewables has vanished ,[object Object],[object Object],Source: “Additional Observations About the Impact of Stimulus Action on Energy and Environmental Policy” Hudson Clean Energy Partners, L.P,  http://www.seia.org/galleries/pdf/Need_for_Refundability.pdf
Stimulus Act should improve access to capital while providing new incentives to drive renewable investment and deployment Source: “Renewable Energy Project Financing: Impacts of the Financial Crisis and Federal Legislation”  http://www.nrel.gov/docs/fy09osti/44930.pdf   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
So far, near-term impact of stimulus measures on renewables has been muted, but expectations for the future are still promising Stimulus Objective Early Concerns Future Expectations ,[object Object],[object Object],[object Object],[object Object],•  Provide for  rapid, large-scale investment  in shovel-ready clean energy projects •  Crafting guidelines and staffing up to administer grants and guarantees has taken longer than hoped •  Investment has further slowed while waiting for government guidelines ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Long term impact of Stimulus is expected to boost renewables deployment well above current EIA B.A.U. Source: “Renewable Energy Project Financing: Impacts of the Financial Crisis and Federal Legislation”  http://www.nrel.gov/docs/fy09osti/44930.pdf
Cash grants should provide needed capital and will be available soon ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Loan Guarantee process complicated but should provide cheaper debt ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Additional Information Sources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Green Stimulus Presentation Final

  • 1. How green is the stimulus package? - Renewable Energy Provisions Cai Steger, Energy Policy Analyst NRDC Center for Market Innovation August 27, 2009
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  • 6. Long term impact of Stimulus is expected to boost renewables deployment well above current EIA B.A.U. Source: “Renewable Energy Project Financing: Impacts of the Financial Crisis and Federal Legislation” http://www.nrel.gov/docs/fy09osti/44930.pdf
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  • 9.

Editor's Notes

  1. NJE-AAA123-20070318-
  2. NJE-AAA123-20070318-
  3. Additional comments: Three things are unique about the work compared to other abatement reports: 1. We have the broadest possible scope, i.e. all sectors, regions and gases. The IEA for instance, looks only at CO2 emissions (not at the other GHG gases) from energy usage (e.g. not forestry, agriculture, and process emissions from industry). 2. Many other reports do not take the cost curve approach, and therefore cannot compare the relative economic attractiveness of different abatement options 3. We are less consensus-driven than most of the international organizations, and can therefore draw more interesting/proactive conclusions The value of our work lies primarily in the comprehensive view that allow us to compare the order of magnitude of different opportunities We compare the work with a 16 th century geographical world map – the broad picture we believe is correct, but many individual measures will certainly develop differently from our model
  4. NJE-AAA123-20070318-
  5. Additional comments: Three things are unique about the work compared to other abatement reports: 1. We have the broadest possible scope, i.e. all sectors, regions and gases. The IEA for instance, looks only at CO2 emissions (not at the other GHG gases) from energy usage (e.g. not forestry, agriculture, and process emissions from industry). 2. Many other reports do not take the cost curve approach, and therefore cannot compare the relative economic attractiveness of different abatement options 3. We are less consensus-driven than most of the international organizations, and can therefore draw more interesting/proactive conclusions The value of our work lies primarily in the comprehensive view that allow us to compare the order of magnitude of different opportunities We compare the work with a 16 th century geographical world map – the broad picture we believe is correct, but many individual measures will certainly develop differently from our model
  6. Additional comments: Three things are unique about the work compared to other abatement reports: 1. We have the broadest possible scope, i.e. all sectors, regions and gases. The IEA for instance, looks only at CO2 emissions (not at the other GHG gases) from energy usage (e.g. not forestry, agriculture, and process emissions from industry). 2. Many other reports do not take the cost curve approach, and therefore cannot compare the relative economic attractiveness of different abatement options 3. We are less consensus-driven than most of the international organizations, and can therefore draw more interesting/proactive conclusions The value of our work lies primarily in the comprehensive view that allow us to compare the order of magnitude of different opportunities We compare the work with a 16 th century geographical world map – the broad picture we believe is correct, but many individual measures will certainly develop differently from our model
  7. Additional comments: Three things are unique about the work compared to other abatement reports: 1. We have the broadest possible scope, i.e. all sectors, regions and gases. The IEA for instance, looks only at CO2 emissions (not at the other GHG gases) from energy usage (e.g. not forestry, agriculture, and process emissions from industry). 2. Many other reports do not take the cost curve approach, and therefore cannot compare the relative economic attractiveness of different abatement options 3. We are less consensus-driven than most of the international organizations, and can therefore draw more interesting/proactive conclusions The value of our work lies primarily in the comprehensive view that allow us to compare the order of magnitude of different opportunities We compare the work with a 16 th century geographical world map – the broad picture we believe is correct, but many individual measures will certainly develop differently from our model
  8. Additional comments: Three things are unique about the work compared to other abatement reports: 1. We have the broadest possible scope, i.e. all sectors, regions and gases. The IEA for instance, looks only at CO2 emissions (not at the other GHG gases) from energy usage (e.g. not forestry, agriculture, and process emissions from industry). 2. Many other reports do not take the cost curve approach, and therefore cannot compare the relative economic attractiveness of different abatement options 3. We are less consensus-driven than most of the international organizations, and can therefore draw more interesting/proactive conclusions The value of our work lies primarily in the comprehensive view that allow us to compare the order of magnitude of different opportunities We compare the work with a 16 th century geographical world map – the broad picture we believe is correct, but many individual measures will certainly develop differently from our model