9 Renewable Energy Highlights of 2018

09 Jan 9 Renewable Energy Highlights of 2018

Climate change challenges facing the world in the New Year leaving you feeling blorft? (Check out Tina Fey.) Here’s an antidote: some good news from Jeff Deyette and the Union of Concerned Scientists to start off the new year. We curated this story from EcoWatch.

Despite the Trump administration’s ongoing attempts to prop up coal and undermine renewables—at FERC, EPA and through tariffs and the budget process—2018 should instead be remembered for the surge in momentum toward a clean energy economy. Here are nine storylines that caught my attention this past year and help illustrate the unstoppable advancement of renewable energy and other modern grid technologies.

1. California Goes All-In for Carbon-Free Electricity

In late August, California—the world’s 5th largest economy—committed to the target of fully decarbonizing its power sector by 2045. The landmark legislation also strengthens the state’s renewable portfolio standard (also known as a renewable energy standard, or RES) from 50 to 60 percent by 2030. What’s more, at the bill signing, Governor Jerry Brown signed an executive order that establishes a goal of achieving carbon-neutrality across all sectors of California’s sprawling economy by 2045, cementing the state’s place as a global leader in climate action.

2. Several States Strengthen Their RES Requirements

State-level renewable electricity standards continued to be a primary driver of new renewable energy development in 2018. In addition to California, legislatures in New Jersey (50 percent by 2030), Connecticut (40 percent by 2030) and Massachusetts (35 percent by 2030) all adopted stronger targets for renewable energy, accelerating their states’ transitions away from fossil fuels. In addition, voters in Nevada overwhelmingly approved a measure to increase their state’s RES to 50 percent by 2030 (the measure must be approved again in 2020 to officially become law).

3. Clean Energy Champions Win Gubernatorial Races

One of the bright spots in November’s election results was the number newly elected governors who campaigned on aggressive clean energy and climate change agendas. Newly elected governors in at least 10 states, including California, Colorado, Connecticut, Illinois, Maine, Michigan, Minnesota, Nevada, New Mexico and Wisconsin, have pledged to accelerate clean energy and carbon reductions in their states by supporting U.S. commitments to the Paris agreement, joining the U.S. Climate Alliance and/or calling for renewable energy targets of 80 to 100 percent. These election results demonstrate the widespread support for greater investments in renewable energy and signal the push for even stronger clean energy policies in the coming year.

4. Record Low Prices for Renewables

Innovation, growing economies of scale and attractive financing continued to drive the costs down for renewables in 2018. Power purchase agreements for wind and solar projects in states like Arizona, Nevada, Colorado, Kansas, New Mexico, Oklahoma and Texas have reportedly ranged between $20 to $30 per megawatt-hour, well below the cost of natural gas generation—and the technologies are positioned for further cost reductions to continue to be low-cost options even as federal tax incentives change. What’s even more exciting is that the many of these low-priced projects also include energy storage components, increasing their value to the grid.

5. Major Utilities Commit to Low-Carbon Portfolios

Earlier this month, Xcel Energy became the first major utility to commit to a completely carbon-free electricity supply across the eight states it operates in. In doing so, it joins a growing number of utilities that are committing to phasing out their use of coal and transitioning to substantially lower carbon energy portfolios. Also this year, both Consumers Energy in Michigan and NIPSCO in northern Indiana announced plans to phase out coal generation and utility giant American Electric Power announced a goal of reducing its carbon emissions 80 percent by 2050. What’s especially exciting about these utility actions is that they are driven primarily by economics, clearly demonstrating the competitiveness of clean energy technologies.

6. Corporate Renewable Energy Purchases Keep Growing…

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