Renewables on the Rise in the Rockies

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Researched by Industrial Info Resources (Sugar Land, Texas)--Renewable power in the Rocky Mountains market region is expected to increase over the next several years due to coal-fired power plant retirements, as well as requirements to reduce emissions by state and federal legislation.

Currently, Industrial Info is tracking 42 active windfarm projects valued at over $29 billion in the region. The eight states in this market region are:

• Arizona with five wind projects worth $5.3 billion
• Colorado with nine wind projects worth $2.49 billion
• Idaho with three wind projects worth $1.1 billion
• Montana with five wind projects worth $862 million
• Nevada with two wind projects worth $775 million
• New Mexico with six wind projects worth $2.3 billion
• Utah with three wind projects worth $440 million
• Wyoming with nine wind projects worth $7.7 billion

Solar projects in the region total 43 projects valued at $12.1 billion. Hydroelectric projects number 57 projects valued at $9.1 billion, and two biomass projects in the region are valued at $22.5 million.

All of the states in the region, except for Idaho and Wyoming, have renewable portfolio standards (RPS) or renewable energy goals of between 5% and 30% of generation, which have attracted developers and investment in renewable energy projects.

Renewable policies help drive the nation's $36 billion market for renewable energy and create high-tech and well-paying jobs in the field such as maintenance, construction, engineering and operations positions.

Renewable energy policies in the U.S. have been largely driven by supply security concerns on the federal level and economic activity and greenhouse gas mitigation concerns on the state level. On the federal level, the production tax credit (PTC) for wind and investment tax credit (ITC) for solar are the key financial instruments for the renewable power sector, and the Environmental Protection Agency's greenhouse gas standards work to the benefit of renewables by being an important driver or renewable portfolio standards.

The U.S. Department of Energy's renewable energy goals for 2030 for the national energy infrastructure include a low-carbon footprint, affordability, flexibility, robustness, scalability and safety. The goal is to ensure a smooth integration of renewable energy generation into the transmission infrastructure, given the differing types of renewable generation and varying distances of these to load sources around the country.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 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.