There's A Lot of Talk About Renewables

Renewable energy sources are fuels that can be naturally replenished. Hydropower is our nation’s most prevalent renewable resource, providing 7 percent of total U.S. electricity supply. Non-hydro renewable energy sources—such as solar power, wind, geothermal, and biomass—now generate about 3 percent of the supply.

The electric power industry has significantly expanded the use of non-hydro renewable energy resources for generating electricity during the last decade. Wind power is the fastest-growing renewable energy source, with wind farms currently operating in 32 states.

A number of states also are encouraging the development of renewable energy resources, based on their own unique circumstances and available resources. To date, 26 states and the District of Columbia have adopted mandatory renewable energy portfolio standards. Four states have RPS goals.

The accelerated development and deployment of renewable energy resources and technologies will be one key element to addressing climate change. But it’s important to remember that wind and solar are intermittent technologies that can be used only when resources are available. As a result, intermittent renewable resources must be backed up by generating facilities that can be better controlled, such as natural gas plants. The availability of renewable resources also varies among regions, which means that not all areas of the country are suited to particular renewable technologies.

Promoting renewable energy resources, through tax credits¹ and increased funding for research and development, in addition to renewable energy programs in the states, will help expand the use of renewables as part of our nation’s diverse fuel mix and reliable electricity supply.

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¹ A long-term extension of the Production Tax Credit (PTC) could be the single most effective thing Congress can do to promote renewables. The PTC is a proven means of actually getting renewable generation built and brought online. The current PTC is due to expire on December 31, 2008. Extending the credit for at least five years will give the private sector the stability necessary to plan and finance renewable energy projects.