James Taylor Senior Fellow, Environment Policy The ...James Taylor Senior Fellow, Environment Policy...
Transcript of James Taylor Senior Fellow, Environment Policy The ...James Taylor Senior Fellow, Environment Policy...
JamesTaylorSeniorFellow,EnvironmentPolicy
TheHeartlandInstituteEnergy&ClimatePolicySummit
November19,2015
Compara7veCostsofElectricity
Findingsoftheleft-of-centerBrookingsInstitution(“WhytheBestPathtoaLow-CarbonFutureIsNotWindorSolarPower,”2014):� ReplacingconventionalpowerwithwindpowerDOUBLESelectricitycosts.
� ReplacingconventionalpowerwithsolarpowerTRIPLESelectricitycosts.
LevelizedElectricityCosts:2016-2046Source:U.S.EnergyInforma7onAdministra7on
� LevelizedproductioncostsindollarspermWh:� NaturalgasAdvancedCombinedCycle: 79.3� Coal: 100.4 � Nuclear: 119.0� OnshoreWind: 149.3 � OffshoreWind: 191.1 � Solarthermal: 256.6 � Solarphotovoltaic: 396.1
Real-WorldImpacts28statescurrentlyhaverenewablepowermandates.Since2008,whenmostoftherenewablepowermandateswereputinplace,electricitypriceshavebeenrisingtwiceasfastinstateswithrenewablepowermandatesthaninstateswithoutrenewablepowermandates.(Sourcedata:U.S.EnergyInformationAdministration,ElectricPowerMonthly)
LevelingtheSubsidyPlayingField?
� EIA–WindpowerreceivesmoresubsidiesthanallconventionalenergysourcesCOMBINED.
� EIA–SolarpoweralsoreceivesmoresubsidiesthanallconventionalenergysourcesCOMBINED.
� EIA–Solarpowerreceived273timesmoresubsidiesperunitofelectricityproducedthanoilandnaturalgascombined.274timesmorethannuclear.842timesmorethancoal.
Source:“DirectFederalFinancialInterventionsinEnergyinFiscalYear2014,”U.S.EnergyInformationAdministration
2013FederalSource-SpecificSubsidiesInMillionDollars
Solar-$5,328
Coal-$1,085
Oil/NaturalGas-$2,346
Nuclear-$1,660
2013Source-SpecificSubsidiesPerUnitofElectricityProducKonDollarsPerThousandMegawaPs
Solar-$575,875
Coal-$684
Oil/NaturalGas-$2,107
Nuclear-$2,104
SpainEconomy
EconomicsprofessorsatSpain’sKingJuanCarlosUniversitypublisheda2009studyshowingthatforevery1“green”jobcreated,2.2jobsweredestroyedelsewhereintheeconomy.
UKEconomy
A2011studybyVersoEconomicsfoundthatrenewableenergymandatesintheUKkilled3.7jobsforevery1jobcreated.
SpainEconomy
Beginningin2005,whenunemploymentinSpainwas8.7percent,Spainembarkedonarenewableenergyprogramdesignedtotransformthenation’seconomy.Spain’sunemploymentratehasmorethandoubledsinceSpain’srenewableenergyprogramtookeffect,andnowstandsat21.2%.
EnergyIndependence?RenewablesDoNotReplaceForeignOil
� Windandsolarpoweraresourcesofelectricityproduction,notransportationfuel.
� Windandsolarpowerdonotreplaceforeignoil.Instead,theyreplacesdomesticcoalandnaturalgas.MostsolarpowerpanelsandwindturbinesaremadeinChinaandEurope.Thisiswhererenewableenergyjobsgo.
SolarEnvironmentalImpacts� Land intensive – 40 sq. mi. = 1 conventional plant
� Water intensive – 2x coal, 4x natural gas
� Most economical where water is scarce
� Rare earth production produces enormous
environmental harm
WindEnvironmentalImpacts� Landintensive-600sq.mi.=1conventionalplant� Birdandbatkills-1.4millionbirdsandbatskilledeachyear
� ComparetoBPGulfoilspill� Whatdistinguisheswindpowerfromhydropower?
RareEarthEnvironmentalHarmsYaleUniversityEnvironment360report,BoominMiningRareEarthsPosesMountingToxicRisks–“Lastyear,China’sStateCouncilreportedthatthecountry’srareearthsoperationsarecausing‘increasinglysignificant’environmentalproblems.Ahalfcenturyofrareearthsminingandprocessinghas‘severelydamagedsurfacevegetation,causedsoilerosion,pollution,andacidification,andreducedoreveneliminatedfoodcropoutput,’thecouncilreported,addingthatChineserareearthsplantstypicallyproducewastewaterwitha‘highconcentration’ofradioactiveresidues.”