Earlier this month the American Council On Renewable Energy (ACORE) published its annual report Renewable Energy in the 50 States: Western Region. The publication looks at the state energy policies and programs, investment, and market in the western U.S.—where most solar and wind development has occurred. The report discusses what’s driving renewable energy deployment including the EPA’s Clean Power Plan and net metering rules, among other things.
“ACORE’s 50 State Report is a key resource for anyone interested in the progress of renewables across America,” said Dan Reicher, interim president of ACORE and executive director of the Steyer-Taylor Center for Energy Policy & Finance at Stanford University. “We are especially excited to release the Western Region edition first, as so much of renewable energy’s success can be traced back to this part of the country.”
The western region report is particularly important because in 2014 the 13 states covered in the report attracted nearly half of all the country’s combined venture capital, private equity, and asset finance investment in renewable energy. For instance, California saw $5.2 billion In investments. Renewable energy produced roughly one third of the region’s total electricity generation—compared with about 13 percent nationally.
The report showed that half of the U.S.’s renewable energy generation is in the states covered by the report. That includes 60 percent of hydroelectric generation, 70 percent of solar power and all of the nation’s geothermal electric generation.
“Joining with ACORE to produce the 50 State Report this year has been a great opportunity to highlight areas in the energy space where our firm has been especially busy in 2015,” said Nancy Saracino at Crowell & Moring. Saracen and the firm wrote the introduction to the report. “Crowell & Moring is actively growing its energy practice in California, in the western U.S., and across the country more generally, where, like California, we’re anticipating significant growth in the clean energy industry over the coming decade.” She added that other parts of the U.S. could emulate some of the successes of the western U.S.
“Renewable energy is more affordable today than ever before,” said Lesley Hunter, lead author of the report and Director of Research & Programs at ACORE. Among the more notable achievements in 2015 were power-purchase agreements for solar power that came in at under 4 cents per kilowatt hour in Nevada and California’s decision to pass a 50 percent renewable portfolio standard.Tweet