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Researched by Industrial Info Resources (Sugar Land, Texas)--Connecticut, New Jersey, Massachusetts, California and Washington, D.C., have extended their targets for renewable portfolio standards (RPS) since the beginning of 2018, according to the U.S. Energy Information Administration (EIA). RPS polices require electricity suppliers to dedicate a specified share of their generation to renewable resources or other designated technologies. Industrial Info is tracking more than $36 billion in active power-generation projects featuring renewable energy in these four states and D.C.
Click on the image at right for a graph detailing active renewable-energy project activity in Connecticut, New Jersey, Massachusetts, California and Washington, D.C., by investment value and project count.
According to the EIA, 29 states and DC had binding RPS policies in place at the end of 2018, although the last state to adopt RPS policies was Vermont in 2015. These 29 states, plus D.C., accounted for 63% of U.S. electricity retail sales in 2018. Eight other states have non-binding RPS policies, according to the EIA.
Of the five geographies to extend their RPS targets, D.C. accounts for the most dramatic change. In January, the city increased its RPS target to renewable-only electricity sales by 2040, revising its previous target (set in 2016) of 50% by 2032. Four months earlier, California increased its target to 100% carbon-free energy by 2045, although it staggered its goals with a 60% requirement by 2030.
A slew of energy and climate-change laws are shifting California away from natural gas-fired power toward renewables--including solar, which has seen a dramatic jump in project proposals in the past few years. Among the largest are:
California also has numerous wind-energy projects in the works, including ArcLight Capital Partners LLC's (Boston, Massachusetts) three-phase Voyager Wind Project, near the city of Mojave. The $234 million first phase, which is expected to have the largest output at 132 MW, has been under construction since third-quarter 2017 and is expected to wrap up late this year. The $40 million second phase and $128 million third phase, which will generate 21 and 64 MW, respectively, began construction in second-quarter 2018, but are expected to wrap up in the coming weeks. For more information, see Industrial Info's project reports for Phase I, Phase II and Phase III.
Hawaii is the only other state to have a goal of fully renewable energy generation, set for 2045.
Massachusetts has a more uniquely structured goal. The Bay State upped its overall RPS target to 35% of sales by 2030, with the target increasing an additional one percentage point per year with no stated expiration date. The earlier target was 18% by 2022. Iberdrola S.A. (Bilbao, Spain) is proposing the two-phase Vineyard Offshore Windfarm south of Martha's Vineyard; each phase would generate 399 MW from 42 Vestas turbines, as currently envisioned. For more information, see Industrial Info's project reports on Phase I and Phase II.
New Jersey's proposed renewable developments include Ørsted US's (Boston, Massachusetts) three-phase Garden State Offshore Windfarm near Cape May, the first phase of which would generate 350 MW from 96 turbines. In Connecticut, Eversource Energy (NYSE:ES) (Boston), which agreed earlier this year to form a 50:50 partnership in the U.S. Northeast with Ørsted US, is at work on the Constitution Wind Project off the coast of New London, which would generate 200 MW from 40 turbines. For more information, see Industrial Info's reports on the Garden State and Constitution Wind projects.
According to the EIA, New Jersey last year increased its RPS target to 50% of sales by 2030, up from the previous target of 24.4% by 2024; Connecticut increased its target to 48% by 2030, up from 27% by 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Click on the image at right for a graph detailing active renewable-energy project activity in Connecticut, New Jersey, Massachusetts, California and Washington, D.C., by investment value and project count.According to the EIA, 29 states and DC had binding RPS policies in place at the end of 2018, although the last state to adopt RPS policies was Vermont in 2015. These 29 states, plus D.C., accounted for 63% of U.S. electricity retail sales in 2018. Eight other states have non-binding RPS policies, according to the EIA.
Of the five geographies to extend their RPS targets, D.C. accounts for the most dramatic change. In January, the city increased its RPS target to renewable-only electricity sales by 2040, revising its previous target (set in 2016) of 50% by 2032. Four months earlier, California increased its target to 100% carbon-free energy by 2045, although it staggered its goals with a 60% requirement by 2030.
A slew of energy and climate-change laws are shifting California away from natural gas-fired power toward renewables--including solar, which has seen a dramatic jump in project proposals in the past few years. Among the largest are:
- First Solar Incorporated's (NASDAQ:FSLR) (Tempe, Arizona) $600 million Desert Quartzite Solar Plant in Blythe, which is expected to generate 300 megawatts (MW) from photovoltaic (PV) modules; see project report
- Canadian Solar Incorporated's (NASDAQ:CSIQ) (Guelph, Ontario) $500 million NAS Lemoore solar project at the naval air station in Lemoore, which would generate 195 MW; see project report
- EDF Renewables North America's (San Diego, California) $500 million second-phase Palen Solar Station near Desert Center, which is expected to generate 250 MW from PV panels; see project report
California also has numerous wind-energy projects in the works, including ArcLight Capital Partners LLC's (Boston, Massachusetts) three-phase Voyager Wind Project, near the city of Mojave. The $234 million first phase, which is expected to have the largest output at 132 MW, has been under construction since third-quarter 2017 and is expected to wrap up late this year. The $40 million second phase and $128 million third phase, which will generate 21 and 64 MW, respectively, began construction in second-quarter 2018, but are expected to wrap up in the coming weeks. For more information, see Industrial Info's project reports for Phase I, Phase II and Phase III.
Hawaii is the only other state to have a goal of fully renewable energy generation, set for 2045.
Massachusetts has a more uniquely structured goal. The Bay State upped its overall RPS target to 35% of sales by 2030, with the target increasing an additional one percentage point per year with no stated expiration date. The earlier target was 18% by 2022. Iberdrola S.A. (Bilbao, Spain) is proposing the two-phase Vineyard Offshore Windfarm south of Martha's Vineyard; each phase would generate 399 MW from 42 Vestas turbines, as currently envisioned. For more information, see Industrial Info's project reports on Phase I and Phase II.
New Jersey's proposed renewable developments include Ørsted US's (Boston, Massachusetts) three-phase Garden State Offshore Windfarm near Cape May, the first phase of which would generate 350 MW from 96 turbines. In Connecticut, Eversource Energy (NYSE:ES) (Boston), which agreed earlier this year to form a 50:50 partnership in the U.S. Northeast with Ørsted US, is at work on the Constitution Wind Project off the coast of New London, which would generate 200 MW from 40 turbines. For more information, see Industrial Info's reports on the Garden State and Constitution Wind projects.
According to the EIA, New Jersey last year increased its RPS target to 50% of sales by 2030, up from the previous target of 24.4% by 2024; Connecticut increased its target to 48% by 2030, up from 27% by 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
