FERC Report Shows Renewable Energy Accounts for 46.22% of New Electric Generation in 2012
FOR IMMEDIATE RELEASE
December 7, 2012 – The American Council On Renewable Energy (ACORE) applauds the renewable energy industry for installing 46.22% of new electrical generating capacity brought online since the beginning of 2012. According to a recently released report from the Federal Energy Regulatory Commission (FERC), wind, solar, biomass, geothermal, and hydropower accounted for a majority of the new renewable energy projects producing clean electricity in 2012, and are now responsible for more than 14.9% of total operating generating capacity in the U.S.
“Even during an election year when renewable energy was used as a political football, the renewable energy industry showed that this industry is a significant business contributing to America’s energy portfolio. As 2012 ends, key tax credits for the renewable energy industry need to be extended to continue this growth trajectory,” said ACORE President, Vice Admiral Dennis McGinn. “Renewable energy contributes to the nation’s energy supply, diversifies energy resources across our nation, creates good jobs and with support, could be leading the next generation of American manufacturing.”
The Production Tax Credit (PTC) which expires at the end of the year is still yet to be extended. According to a study by ACORE member, Navigant Consulting, if the PTC is not extended, jobs supported by the wind industry will fall from 75,000 jobs to 37,000 jobs. “The Production Tax Credit for wind is working—and should be part of the effort in Washington here—to get more Americans working,” said (IA-R) Senator Grassley at press conference earlier this week.
As ACORE’s post-election survey demonstrated, renewable energy has strong public support in America’s battleground states. Majorities in all four swing states polled after the election showed significant support for continued government investment in clean energy. Vice Admiral Dennis McGinn ended by saying, “America has watched the prices of electricity generated by renewable energy decrease as the political opposition against the industry has increased. With continued support, this industry has shown that renewable energy is not just the energy source of the future – it’s the energy source of today, diversifying our energy mix and creating a more secure America.”
ACORE, a 501(c)(3) non-profit membership organization, is dedicated to building a secure and prosperous America with clean, renewable energy. ACORE seeks to advance renewable energy through finance, policy, technology, and market development and is concentrating its member focus in 2012 on National Defense & Security, Power Generation & Infrastructure, and Transportation. Additional information is available at www.acore.org.
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