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WHAT’S SOLAR WORTH?Bringing Minnesota’s value(s) to solar
Presentation to Minnesota Value of Solar Stakeholder Workshop - Oct. 1, 2013
John Farrell, Director of Democratic Energy
• 2007 Next Generation Energy Act: goal of reducing greenhouse gas emissions by 80% by 2050 and that state should pursue “the development and use of renewable energy resources wherever possible.”
BACKGROUND
• 2013 Energy Omnibus law includes “a Minnesota energy future study on how Minnesota can achieve a sustainable energy system that does not rely on the burning of fossil fuels.”
BACKGROUND
GOOD VALUE?
How is the Department’s proposed methodology?
ENERGY
It’s real in Ohio and Germany
LOSSES
• But, high load means higher losses. Can we account for that?
ECONOMIC DEVELOPMENT?
•No coal
•No uranium
•No gas
ECONOMIC DEVELOPMENT!
Worth ratepayer investment
ECONOMIC DEVELOPMENT
ENVIRONMENTAL
Source: EDFSolar solves fossil fuel cross subsidies!
ENVIRONMENTAL
• Cross-State Air Pollution Rule (CSAPR)
• Carbon Pollution Standards for the Power Sector
Solar solves fossil fuel cross subsidies!
ENVIRONMENTAL
Social Cost of Carbon
$0
$30
$60
$90
$120
$150
Solar solves fossil fuel cross subsidies!
RELIABILITY / RESILIENCE
Solar can save money
RELIABILITY / RESILIENCE
Solar can save money (for utility, too)
TIMEFRAME
The warranty lasts this long, value is even longer
DISCOUNT RATE
A good proxy for the value of social benefits over time
HEDGING
What is certainty worth?
TRANSPARENCY
• Utility inputs, too!
Transparency solves a national debate
LEARN MOREilsr.org
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