Energy News Roundup: February 11-February 17

This week in regional energy news …

• Maine’s Good Will-Hinckley School has installed 110 solar panels, which are expected to save the school $112,000 over the 40- to 50-year life span of the panels.  Good Will-Hinckley is a high school focused on agriculture, forestry education, and workforce skills.
• Doaktown, a village in New Brunswick, voted Thursday to ban shale gas exploration near the village’s water sources.
• With the price of renewable energy credits going down due to oversupply, Massachusetts is one of many states reviewing its Regional Greenhouse Gas Initiative, or RGGI, emissions cap.
• Cape Wind has entered into an electricity supply agreement with NStar for energy from the offshore wind project, but seeks additional financing.
• Public Service of New Hampshire, or PSNH, is warning of higher electricity prices if it is forced to sell off its generation assets.

Analysis Group Reports that RGGI Generated $1.6B

According to a new study by the Analysis Group, the Regional Greenhouse Gas Initiative Inc. cap-and-trade energy auction has added $1.6 billion in economic value to its ten member states, including Maine.

In The Economic Impacts of the Regional Greenhouse Gas Initiative on Ten Northeast and Mid-Atlantic States, the Analysis Group quantified the economic benefits of the cap-and trade energy auction based on experience during the first three years of the program.

Key findings include:

• The regional economy gains more than $1.6 billion in economic value added (reflecting the difference between total revenues in the overall economy, less the cost to produce goods and services)
• Customers save nearly $1.1 billion on electricity bills, and an additional $174 million on natural gas and heating oil bills, for a total of $1.3 billion in savings over the next decade through installation of energy efficiency measures using funding from RGGI auction proceeds to date
• 16,000 jobs are created region-wide
• Reduced demand for fossil fuels keeps more than $765 million in the local economy
• Power plant owners experience $1.6 billion in lower revenue over time, although they overall had higher revenues than costs as a result of RGGI during the 2009-2011 period
• Maine received $27.2 million from the auctions, spending the bulk — $22.8 million — on energy efficiency and other utility programs, as well as energy audits and benchmarking.
• Maine spent approximately $4.4 million on greenhouse gas programs and program administration.
• In Maine, RGGI generated an economic impact of $92 million and created 918 jobs.

Energy News Roundup: April 2-April 8

This week in regional energy news …

• In a letter to Energy Secretary Steven Chu, New Hampshire Senator Kelly Ayotte and Representative Charles Bass oppose the Northern Pass project, which would transmit hydroelectric power from Hydro-Quebec to New England through New Hampshire.  Ayotte and Bass propose burying the transmission lines within existing rights-of-way.
• Veolia Energy North America and the city of Boston are heating much of Boston with a “district energy system,” which involves purchasing surplus power from a Cambridge power plant and using it to warm downtown Boston buildings.  There are about 2500 district energy systems in the U.S., including in most large cities and college campuses.
• Fishermen off of Cape Cod are wary of how the Cape Wind project might affect their livelihood.
• In a campaign speech, Conservative Leader Stephen Harper promised to fund green energy projects across Canada if he is reelected.
• Maine Senator Tom Saviello proposes Maine’s withdrawal from the Regional Greenhouse Gas Initiative.  RGGI auctions have funded energy efficiency grants to Maine businesses such as SAPPI and Madison Paper to invest in greener technologies.
• A U.S. Department of Energy researcher spoke recently with a Wiscasset community advisory panel regarding the risks of spent nuclear fuel rod storage.