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How Can New Transatlantic Collaboration Overcome Barriers to Renewable Energy Goals? EESI Briefing December 3, 2015
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12/3/15 www.climatestrategies.us Speakers
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12/3/15 www.climatestrategies.us INTRODUCTION Project, Report, Key Findings and Recommendations
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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
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12/3/15 www.climatestrategies.us About the Project
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12/3/15 www.climatestrategies.us About the Report
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12/3/15 www.climatestrategies.us Key Findings
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12/3/15 www.climatestrategies.us Key Recommendations
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12/3/15 www.climatestrategies.us EU-US COMMON GROUND Findings
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12/3/15 www.climatestrategies.us New Goals
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12/3/15 www.climatestrategies.us US Clean Power Plan
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12/3/15 www.climatestrategies.us EU Goals
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12/3/15 www.climatestrategies.us Regional Price Variation
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12/3/15 www.climatestrategies.us Center for Climate Strategies, 2012 Economic Success Strategies
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Renewable Energy Growth US renewable electricity production by source, IEA EU renewable growth EUROSTAT
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12/3/15 www.climatestrategies.us Market Penetration Barriers
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12/3/15 www.climatestrategies.us Cost Components Levelized cost of energy in the US, 2014 (Lazards)
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12/3/15 www.climatestrategies.us Cost Differentials Appalachian Power, 10/27/15
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12/3/15 www.climatestrategies.us Cost Comparisons Levelized cost of energy in the EU, 2012 (Ecofys)
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12/3/15 www.climatestrategies.us EU vs. US Costs Rocky Mountain Institute, 2013
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12/3/15 www.climatestrategies.us Investment barriers
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12/3/15 www.climatestrategies.us Technology barriers
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12/3/15 www.climatestrategies.us POLICY BARRIERS Findings
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12/3/15 www.climatestrategies.us Collaboration Areas
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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
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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
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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
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12/3/15 www.climatestrategies.us Renewable Portfolio Standards CA and NY target 50% renewables by 2030 VT 75% by 2032
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12/3/15 www.climatestrategies.us Group Purchasing
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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)
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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
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12/3/15 www.climatestrategies.us Transmission Line Expansion
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12/3/15 www.climatestrategies.us COLLABORATION BARRIERS Key Findings
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12/3/15 www.climatestrategies.us Key Barriers
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12/3/15 www.climatestrategies.us Virtual Mechanisms
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12/3/15 www.climatestrategies.us RECOMMENDATIONS Collaboration enhancements
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12/3/15 www.climatestrategies.us Enhanced Collaboration
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12/3/15 www.climatestrategies.us Virtual Mechanisms
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12/3/15 www.climatestrategies.us Counterparts
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12/3/15 www.climatestrategies.us Third Party Partnerships
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12/3/15 www.climatestrategies.us Regional Collaboration
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12/3/15 www.climatestrategies.us NEXT STEPS Report Completion, Endorsement, Transition
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12/3/15 www.climatestrategies.us Next Steps
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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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