Just Transition Conference Perspectives on Renewable Energy David Schlissel Director of Resource Planning Analysis June 7, 2014

Installed U.S. Solar PV Capacity Has Skyrocketed in Recent Years 12,000 MW of new solar PV capacity between 2003 and Another 1,330 MW added in First Quarter of 2014, with a total of 6,000 MW of new solar PV forecast to come online this year. ©2014 Institute for Energy Economics & Financial Analysis 2

Installed U.S. Wind Capacity Also Has Soared At end of 2013, another 13,000 MW of wind projects were being developed in more than 95 projects in 21 states. ©2014 Institute for Energy Economics & Financial Analysis 3

Installed U.S. Solar PV System Prices Have Declined Precipitously Installed solar PV system prices declined by another 6-14% (depending on system size) between 2011 and 2012 and by an average of 15% between 2012 and The average price of a solar panel has declined by more than 60% since early ©2014 Institute for Energy Economics & Financial Analysis 4

U.S. Wind System Prices Also Have Dropped Significantly Since Wind turbine prices have dropped by between 13% and 36% since At the same time turbine performance has improved significantly. After topping out at nearly $70 per megawatt hour in 2009, the average long-term price of power from wind projects has dropped to around $40 nationwide. The price of power from wind is generally lowest in middle of the country and Texas, highest in the West and in the middle ground elsewhere. ©2014 Institute for Energy Economics & Financial Analysis

Wind and Solar in New York State 6 New York currently has approximately 1,720 MW of installed wind capacity. The state also has 69 MW of installed solar PV. However, this is significantly less than the 236 MW of PV in New Jersey and the 237 MW of PV in Massachusetts. ©2014 Institute for Energy Economics & Financial Analysis

Investments in Wind and Solar Provide Jobs and Boost the Economy 7 According to the Solar Energy Industries Association, there are over 142,000 solar workers in the U.S. These workers are employed at 6,100 businesses in every state. The value of investment in solar projects increased from $8.6 billion in 2011 to $13.7 billion in The American Wind Energy Association estimates that the entire U.S. wind energy sector directly and indirectly employed 80,700 full time workers in There are more than 400 domestic U.S. suppliers for some of the 8,000 components in a wind turbine. ©2014 Institute for Energy Economics & Financial Analysis