Thursday, June 25, 2015, Pennsylvania Business Daily
Thursday, Jun 25, 2015 Pennsylvania appears well-situated to comply with EPA standards for cutting carbon dioxide emissions, based on recent data from energy market research firm Bloomberg New Energy Finance (BNEF) and the Business Council for Sustainable Energy (BCSE), BCSE said on Wednesday.
Inexpensive and plentiful natural gas and lessening coal-based power generation and sustained energy policy have contributed to a bright outlook for the state’s energy profile.
“Rising in-state natural gas production has helped keep power prices down in Pennsylvania, while coal-fired generation has decreased, and the state has built more than a gigawatt (GW) of new renewable energy capacity,” Nathan Serota, a BNEF analyst and co-author of the report.
The analysis found that natural gas leadership helps keep costs low and meet EPA goals, that the state has already built 1.4 GW of renewable capacity from 2008-2013 and that the Commonwealth has emerged as a leader in overall energy-efficiency initiatives. Additionally, the state has the relative luxury of some flexibility in meeting its compliance goals.
The EPA’s draft Clean Power Plan tasks Pennsylvania with reducing its adjusted emission rate (AER) by 31 percent by 2030. “Pennsylvania’s national leadership on natural gas, combined with expanding wind, hydro, efficiency and other sustainable resources, give the Keystone State many options when it comes to meeting EPA’s targets," BCSE President Lisa Jacobson said.
Founded in 1992, BCSE is dedicated to implementing market-based approaches to reducing pollution and providing a diverse, secure mix of energy resources.
Developed with BCSE, the BNEF report is available at http://bit.ly/1IyBZ69.