Welcome!

Microsoft Cloud Authors: Yeshim Deniz, Janakiram MSV, Andreas Grabner, Stackify Blog, Liz McMillan

News Feed Item

New Study Finds that Solar Power Is a Bargain for Ratepayers in New Jersey and Pennsylvania

The value solar energy delivers exceeds its cost by 50% to over 100%

BORDENTOWN, N.J., Nov. 5, 2012 /PRNewswire/ -- The Mid-Atlantic Solar Energy Industries Association (MSEIA) and the Pennsylvania Solar Energy Industries Association (PASEIA) today released a study by consulting firm Clean Power Research showing that solar power in New Jersey and Pennsylvania delivers value to the electric grid that exceeds its cost by a large margin, making it a bargain for energy consumers.

Energy providers in New Jersey and Pennsylvania are required to buy certain amounts of solar power each year.  They pay a premium for that solar power in the form of Solar Renewable Energy Certificates, or SRECs, and pass this premium cost on to ratepayers.  The study found that solar power delivers a total levelized value ranging from $256 to $318 per MWh (25.6 cents to 31.8 cents per kWh).  However, this includes a premium value in the range of $150 to $200 per MWh (15 cents to 20 cents per kWh), above the value of the solar electricity generated.  The SRECs in New Jersey currently cost about $60/MWh (6 cents per KWh), and in Pennsylvania they cost about $20/MWh (2 cents per KWH). 

"This indicates that electric ratepayers in the region are getting more than a two-to-one return on their investment in solar energy," said Dennis Wilson, President of MSEIA,  "Although the current SREC prices are unsustainably low, our analysis indicates that SRECs can increase in price, deliver net benefits and still support strong solar growth.   Solar power has proven it can deliver value that exceeds its cost by 50% to over 100%.  This net positive benefit will only increase as solar technology continues to drop in cost." 

Full text of the report is available at: http://mseia.net/site/wp-content/uploads/2012/05/MSEIA-Final-Benefits-of-Solar-Report-2012-11-01.pdf

"Both states have considered expanded investments in solar energy. This study shows that such programs and policies are well justified from an economic standpoint and generate far more instate jobs than central plant generation. Add together the proven public health, security and environmental benefits, and it's clear that aggressive solar power development is a win for these states and their residents," said Lyle Rawlings, Vice President of MSEIA, New Jersey division.

"We are very excited about this study," said Ron Celentano, President of PASEIA and Pennsylvania VP of MSEIA.  "For the first time the solar industry can show the quantitative benefits of implementing solar energy technologies specifically in Pennsylvania and New Jersey.  For more than three years we have been unsuccessful with enhancing our solar share requirement in Pennsylvania, largely because solar was perceived as only a cost to rate payers.  But this study concludes that the value of solar far exceeds the costs to both the rate payer and taxpayer."

"Solar PV does not get a fair shake in our current utility accounting protocols because those rules evolved for centralized, large scale power plants," says Roger Clark, manager of The Reinvestment Fund's Sustainable Development Fund, a major funder of this study.  "We supported this study because it is critical to understand the costs and benefits of solar so that our energy policies, such as Pennsylvania's Alternative Energy Portfolio Standards Act, are grounded on an accurate perception of the value of solar energy."  

Both New Jersey and Pennsylvania are major solar markets in terms of the amount of solar capacity already installed. Each has great opportunity for continued clean energy industry growth. New Jersey, the nation's second-largest solar market with 900 MW of solar capacity, is the first state to generate more than 1% of its annual electricity from solar energy.  Its annual solar share is now approaching one and a half percent, with contributions during peak demand periods several times higher. Once one of the nation's fastest growing solar markets, Pennsylvania has since fallen to eighth place in installed capacity. Increasing the state's near-term solar commitment would put Pennsylvania solar growth back on track.

According to Richard Perez, one of the authors of the study, "This report broke new ground in that it incorporated a wealth of utility power cost data, enabling detailed analysis of economic drivers such as the 'merit order effect,' according to which power can have different values depending on when it is generated.  Solar energy has inherent advantages stemming from such economic drivers."  Today's report assessed the value of modest solar penetration (15% of utility peak load) at six locations: Pittsburgh, Harrisburg, Scranton, Philadelphia, Newark, Atlantic City, and Jamesburg. Research concluded that by offsetting the need for conventional power, distributed solar power delivers measurable benefits, including:

  • Lower conventional electricity market prices due to reduced peak demand;
  • Valuable price hedge from using a free, renewable fuel rather than variably-priced fossil fuels;
  • Avoided costs of new transmission and distribution infrastructure to manage electricity delivery from centralized power plants;
  • Reduced need to build, operate and maintain natural gas generating plants;
  • Reduced outages due to a more reliable, distributed electric power system;
  • Reduced future costs of mitigating the environmental impacts of coal, natural gas, nuclear, and other generation;
  • Enhanced tax revenues associated with local job creation, which is higher for solar than conventional power generation.

Prepared by Clean Power Research, the report was funded by the following organizations: The Reinvestment Fund's Sustainable Development Fund, Mid Atlantic Solar Energy Industries Association, Advanced Solar Products, SMA Americas, Vote Solar, Renewable Power, and Geoscape Solar.

About MSEIA

MSEIA, the Mid-Atlantic Solar Energy Industries Association, is a solar energy advocacy trade association which represents over 100 solar companies doing business in New Jersey, Pennsylvania, and Delaware.

Established in 1997 by solar energy advocates, MSEIA is an historic and highly-effective non-profit membership organization created to advocate for solar energy incentives, create permanent solar energy jobs and a renewable energy infrastructure, and promote solar energy as a viable and important source of energy for the future.  Our efforts in the legislature and with the Board of Public Utilities have been instrumental in helping to create the New Jersey solar industry.

About PASEIA:  The Pennsylvania Division of MSEIA.  PASEIA is an organization of manufacturers, developers, contractors, installers, architects, engineers, consultants and other industry professionals dedicated to advancing the interests of solar energy and to developing a strong local PA industry offering high quality installation and professional services to business and residential customers in the region we serve.

Dennis Wilson, President of MSEIA
[email protected] 
973-854-9365

Lyle Rawlings, Vice President of MSEIA
[email protected] 
908-751-5818

Marianne Leone, Admin for MSEIA
[email protected] 
973-886-0526

 

 

 

SOURCE Mid-Atlantic Solar Energy Industries Association

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"MobiDev is a Ukraine-based software development company. We do mobile development, and we're specialists in that. But we do full stack software development for entrepreneurs, for emerging companies, and for enterprise ventures," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, discussed the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insights from the vast t...
SYS-CON Events announced today that EnterpriseTech has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. EnterpriseTech is a professional resource for news and intelligence covering the migration of high-end technologies into the enterprise and business-IT industry, with a special focus on high-tech solutions in new product development, workload management, increased effic...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and ...
SYS-CON Events announced today that CHEETAH Training & Innovation will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CHEETAH Training & Innovation is a cloud consulting and IT training firm specializing in improving clients cloud strategies and infrastructures for medium to large companies.
SYS-CON Events announced today that Datanami has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datanami is a communication channel dedicated to providing insight, analysis and up-to-the-minute information about emerging trends and solutions in Big Data. The publication sheds light on all cutting-edge technologies including networking, storage and applications, and thei...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...