What Is A Green Bank?

There is exciting news going on in the Nutmeg State as Connecticut became the first state in the country to create a Green Bank. But what exactly is a "Green Bank"?

"A Green Bank is a quasi-governmental entity that provides low-cost financing for clean energy and energy efficiency projects through direct loans or loan guarantees," explained Alex Kragie, a Vice President for the "Coalition For Green Capital."

Mark Muro and Devashree Saha of the Brookings Institute also had this to say about the new Green Bank. "Aimed at providing low-cost financing for clean energy and efficiency projects, the new entity offers Washington (D.C.) and other states a workable model for promoting investment in clean energy at a time of growing concern about the serious finance problems surrounding clean energy deployment."

The bill was passed unanimously in the State Senate and by a 138-9 margin in the State House Of Representatives clearly signifying that the Green Bank had bi-partisan support.

What exactly does that mean for people living in Connecticut? For starters, it will help lead to the development of many new clean energy and energy efficiency projects using existing government funds and private investment. This will help lead to new jobs being created during a time when any type of job growth is helpful.

Additionally, the bold steps being taken in Connecticut could possibly lead to a federal type of Green Bank in the future. As Muro and Saha stated, "Ideally, this smart experiment will succeed and other states and Washington will follow suit. After all, finding a robust and workable solution to the problem of financing the deployment of innovative, large-scale clean energy projects will be absolutely central to ensuring that the U.S. unleashes a sizable clean energy economy, instead of drifting."

Sources:

www.brookings.edu/opinions/2011/0628_green_connecticut_muro.aspx

www.cga.ct.gov/2011/BA/2011SB-01243-R01-BA.htm

www.tpmcafe.talkingpointsmemo.com/2011/07/08/connecticuts_green_bank_a_bi-partisan_model_for_th/

Alex Kragie: A Man In The Alternative Energy Field

There are people in this country that care very deeply about alternative energy legislation. For some, they volunteer their time to meet with politicians and do work to try and see legislation gets passed, whether it's in the federal, state or local government.

For others, they devote their entire lives to that type of work. Alex Kragie is one of those people. Kragie is an employee for the Coalition For Green Capital (CFC), a non-profit organization that advocates on behalf of policies that support investment in clean energy and energy efficiency.

As part of his work, Kragie is currently working as a Project Manager of a state program in Connecticut called "Lead By Example". "Its goal is to reduce energy usage in state buildings by 10% by 2013," Kragie explained.

In addition to his role as Project Manager, he works with the Connecticut Commissioner of Energy and Environmental Protection and advises the nation's first Green Bank (a topic which has been elaborated on in a separate post.)

Having done work in Connecticut, Washington D.C. and Pennsylvania, Kragie has intimate knowledge on the topic of alternative energy as well as the benefits of making homes and businesses more energy efficient.

"Energy efficiency upgrades are the most economical method of improving buildings and homes," Kragie said. "Depending on the measures undertaken, the cost of a retrofit can pay itself back in very little time and be profitable to the home or building owner after that."

He added, "One of those measures is a tool called an Energy Savings Performance Contract (ESPC) which allows a builder or a homeowner to pay no upfront costs for a project being undertaken and pay back the cost through savings accrued on their energy bills."

An example of how the federal government is using ESPC's can be found here.

Though his current work is outside of Pennsylvania, Kragie has a keen understanding about the alternative energy situation going on in the Keystone State. "The extraction of natural gas through fracking is certainly the dominant issue in Pennsylvania," Kragie says.

For those who live in Pennsylvania, they likely have heard about fracking as it has been in the news for several years now and it's a topic clean energy advocates often debate about. While documentaries like Gasland talk about the environmental risks of natural gas drilling, the fact is, it still can reduce carbon emissions and as Kragie explained, "provide a bridge fuel to clean energy generation sources."

Why is it important we have "bridge" fuels you may ask? The reason is, for many areas in the country, clean energy is still more expensive than conventional sources such as coal and oil. However, as Kragie said, "costs are rapidly declining and in some areas such as the high-priced Northeast, some forms of clean energy are as cheap as conventional energy."

With a chance to help start a new domestic industry, Alex Kragie is working tirelessly throughout the Northeast to raise awareness about clean energy, and its economic and environmental benefits. The work is undoubtedly hard, but he knows the success in helping businesses and homeowners convert to alternative energy will be very rewarding. If you hear about state governments or businesses using tools such as an ESPC, you will know it's people like Alex Kragie who had a hand in it.

Sources:

www1.eere.energy.gov/femp/financing/espcs.html

en.wikipedia.org/wiki/Gasland

en.wikipedia.org/wiki/Hydraulic_fracturing

Why Is Solar Energy Better Than Nuclear?

Walk around a neighborhood these days and there is a chance you will see a home or business with some sort of solar technology installed. The idea of solar energy has been around for decades and today, you are seeing companies and home owners utilize it more than ever says Dr. John Blackburn. A former Chancellor of Duke University, Blackburn currently works for a North Carolina non-profit organization called NC Warn.

The rise in popularity can be attributed to the cost of installing solar energy going down. In 2010, electricity from new solar installations became cheaper than nuclear in North Carolina for the first time. "Each and every stakeholder in North Carolina's energy sector — citizens, elected officials, solar power installers and manufacturers, and electric utilities — should recognize this watershed moment," said Blackburn.

Though Blackburn cautions that both solar and nuclear energy are still more costly than "present electricity generation" costs, it's abundantly clear that solar energy is becoming much cheaper. In addition to financial savings, Blackburn lists other advantages solar has over nuclear.

"Rooftop solar can be installed in a few days and can start producing electricity immediately," Blackburn said. Indeed, it can take up to ten years for people to wait for nuclear energy to come online. Another environmental advantage is the fact that solar energy doesn't waste water like a nuclear plant does. Billions of gallons of water are used at a nuclear plant each used in order to cool reactors.

Solar energy is also much safer. If people remember the horrific tsunami in Japan in 2011, you will recall that a nuclear plant in Fukushima had a nuclear metldown because workers were unable to keep the reactors cool and thus caused a small nuclear disaster. People of Pennsylvania who lived through the Three Mile Island nuclear crisis will also undoubtedly remember the panic that occurred in 1979.

With solar power becoming more affordable, more and more people, businesses and communities are utilizing the technology. Just this past October, Dauphin County Commissioners unveiled a solar farm that will offset up to 20% of the power usage at county facilities.

Sources:
Jim Blackburn appears courtesy of this story
www.ncwarn.org/wp-content/uploads/2010/07/NCW-SolarReport_final1.pdf

www.pennlive.com/midstate/index.ssf/2011/10/dauphin_county_commissioners_u_2.html

www.renewableenergyworld.com/rea/news/article/2010/08/solar-and-nuclear-costs-the-historic-crossover

Can We Succeed In Integrating Renewable Energy Into America's Infrastructure?

For many years, people have debated about whether or not implementing alternative and renewable energy into our national infrastructure would be feasible. However a report from the National Research Council may yet prove that with some work, clean energies such as wind and solar can become a major contributor in producing America's electricity.

K. John Holmes, a writer for the Journal of Renewable and Sustainable Energy summarized the Council's findings and stated that 10% of our energy could be produced by renewable sources by 2020 "if we involved a combination and coordination of policy, technology, and capital."

President Abraham Lincoln signed a charter in 1863 to form the National Academy of Sciences, a group tasked with investigating, examining, experimenting, and reporting on any subject of science. The group expanded in the 20th century which included the creation of the National Research Council.

In addition to the more popular types of renewable energy, the council took a look at additional types of energy to see if they could help contribute to achieving the 10% goal. This included biopower, the type of energy that comes from wood, landfills, tires and other agricultural waste. The panel also concluded that onshore wind turbines would be the most cost efficient.

Another interesting note from the panel is the fact their belief that "nearly, all of the costs associated with renewable electricity are in the manufacturing and installation of the equipment." Except for biomass, no alternative energy resource uses any type of fuel.

As the panel says, "in order for the United States to produce a large amount of electricity from alternative energy, there has to be money invested into new projects." Once that occurs, it would appear the sky will be the limit for alternative energy in America.

Sources:
http://jrse.aip.org/resource/1/jrsebh/v3/i4/p042701_s1?view=fulltext

http://www.nationalacademies.org/about/whoweare.html

Pennsylvanians Have Spoken: They Want More Wind Energy

The topic of energy has been very popular in Pennsylvania this year. With abundant resources in natural gas, there has been a rush on drilling and its understandable, given the fact that Pennsylvania has been referred to as the "Saudi Arabia Of Natural Gas."

It's undeniable that Governor Tom Corbett and a fair number of Pennsylvanians fully support natural gas drilling.

However, it's also very clear that the vast majority of Pennsylvanians support the investment in other types of energy as well. In a November poll conducted by Susquehanna Polling and Research, 85% of Pennsylvanians believe it's important to support the expansion of wind farms. Just 11% of voters said they'd be less likely to support clean energy resources if it meant costing them $2 per month.

Another interesting fact is that 71% of Pennsylvanians supported the U.S. Congress passing Renewable Electricity Standards. This echos other polls such as a February 2011 Gallup Poll that said that 85% of voters wanted Congress to pass an energy bill that provides incentives for using solar and other alternative energy sources.

Sources:
www.awea.org/newsroom/pressreleases/release_111610.cfm

www.foxnews.com/politics/2010/05/17/pennsylvania-district-turns-saudi-arabia-natural-gas-ahead-tuesday-primary/

www.gallup.com/poll/145880/Alternative-Energy-Bill-Best-Among-Eight-Proposals.aspx

www.articles.mcall.com/2011-11-21/news/mc-pa-corbett-impact-fee-20111121_1_tom-corbett-impact-fee-fee-increases