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How Can New Transatlantic Collaboration Overcome Barriers to Renewable Energy Goals? EESI Briefing December 3, 2015.

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Presentation on theme: "How Can New Transatlantic Collaboration Overcome Barriers to Renewable Energy Goals? EESI Briefing December 3, 2015."— Presentation transcript:

1 How Can New Transatlantic Collaboration Overcome Barriers to Renewable Energy Goals? EESI Briefing December 3, 2015

2 12/3/15 www.climatestrategies.us Speakers

3 12/3/15 www.climatestrategies.us INTRODUCTION Project, Report, Key Findings and Recommendations

4 12/3/15 www.climatestrategies.us About CCS Better Safer World Catalyst, Capacity Action Plans US -- States and Localities Alaska, Arizona, Arkansas, Colorado, Connecticut*, Florida, Kentucky, Iowa, Maine*, Maryland, Michigan, Minnesota, Montana, Oregon, Pennsylvania, New Mexico, North Carolina, New York, South Carolina, Southern California, Vermont, Washington Action Plans and Capacity Building Global – Nations, States, Provinces China, DR Congo, Eastern Europe, European Union, Guatemala, Mexico, Philippines, Ukraine, others

5 12/3/15 www.climatestrategies.us About the Project

6 12/3/15 www.climatestrategies.us About the Report

7 12/3/15 www.climatestrategies.us Key Findings

8 12/3/15 www.climatestrategies.us Key Recommendations

9 12/3/15 www.climatestrategies.us EU-US COMMON GROUND Findings

10 12/3/15 www.climatestrategies.us New Goals

11 12/3/15 www.climatestrategies.us US Clean Power Plan

12 12/3/15 www.climatestrategies.us EU Goals

13 12/3/15 www.climatestrategies.us Regional Price Variation

14 12/3/15 www.climatestrategies.us Center for Climate Strategies, 2012 Economic Success Strategies

15 Renewable Energy Growth US renewable electricity production by source, IEA EU renewable growth EUROSTAT

16 12/3/15 www.climatestrategies.us Market Penetration Barriers

17 12/3/15 www.climatestrategies.us Cost Components Levelized cost of energy in the US, 2014 (Lazards)

18 12/3/15 www.climatestrategies.us Cost Differentials Appalachian Power, 10/27/15

19 12/3/15 www.climatestrategies.us Cost Comparisons Levelized cost of energy in the EU, 2012 (Ecofys)

20 12/3/15 www.climatestrategies.us EU vs. US Costs Rocky Mountain Institute, 2013

21 12/3/15 www.climatestrategies.us Investment barriers

22 12/3/15 www.climatestrategies.us Technology barriers

23 12/3/15 www.climatestrategies.us POLICY BARRIERS Findings

24 12/3/15 www.climatestrategies.us Collaboration Areas

25 12/3/15 www.climatestrategies.us Federal Production Tax Credit Union of Concerned Scientists at http://www.ucsusa.org/clean_energy/smart-energy-solutions/increase- renewables/production-tax-credit-for.html#.VkYlb66rS3A http://www.ucsusa.org/clean_energy/smart-energy-solutions/increase- renewables/production-tax-credit-for.html#.VkYlb66rS3A Up to $22/MWh tax credit for RE generation Critical for historical RE development

26 12/3/15 www.climatestrategies.us Investment Tax Credit 30% tax credit has dramatically reduced costs of solar PV Cyclical measure: demand dries up during recessions US States (OR) have pass- through provision Equity partners have high returns

27 12/3/15 www.climatestrategies.us Feed In Tariffs and Premiums Feed-in-tariff rates have been reduced EU Commission moving toward competitive bidding rules

28 12/3/15 www.climatestrategies.us Renewable Portfolio Standards CA and NY target 50% renewables by 2030 VT 75% by 2032

29 12/3/15 www.climatestrategies.us Group Purchasing

30 12/3/15 www.climatestrategies.us Attract Institutional Investors “YieldCo” securities that pay regular dividends: NRG Yield, Greencoat Energy, Pattern Energy “opened the floodgates to a sea of lower-cost capital” (Deloitte, 2015)

31 12/3/15 www.climatestrategies.us Grid Integration Strategies Duckbill in CA: 11,000 MW of flexible resources are required to meet late afternoon- early evening demand

32 12/3/15 www.climatestrategies.us Transmission Line Expansion

33 12/3/15 www.climatestrategies.us COLLABORATION BARRIERS Key Findings

34 12/3/15 www.climatestrategies.us Key Barriers

35 12/3/15 www.climatestrategies.us Virtual Mechanisms

36 12/3/15 www.climatestrategies.us RECOMMENDATIONS Collaboration enhancements

37 12/3/15 www.climatestrategies.us Enhanced Collaboration

38 12/3/15 www.climatestrategies.us Virtual Mechanisms

39 12/3/15 www.climatestrategies.us Counterparts

40 12/3/15 www.climatestrategies.us Third Party Partnerships

41 12/3/15 www.climatestrategies.us Regional Collaboration

42 12/3/15 www.climatestrategies.us NEXT STEPS Report Completion, Endorsement, Transition

43 12/3/15 www.climatestrategies.us Next Steps

44 12/3/15 www.climatestrategies.us Thank you for your time and attention! QUESTIONS? Center for Climate Strategies 1800 K Street NW, Suite 714 Washington, DC 20006 www.climatestrategies.us Thomas D. Peterson tpeterson@climatestrategies.us


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