RENEW Northeast praises Chairman Pacheco, Vice-Chairman Eldridge and the Massachusetts Senate Committee on Global Warming and Climate Change for releasing today visionary legislation to advance a significant deployment of new renewable energy sources. The bill’s acceleration of the annual growth rate in the Massachusetts Renewable Portfolio Standard (RPS)- the amount of renewable energy utilities and retail suppliers must provide to their customers- from the current 1 percent per year to 3 percent per year will spark a revolution in displacing the region’s greenhouse gas emitting generation with emissions-free resources.
“Massachusetts is in a prime position to take advantage of the positive developments in renewable energy including rapid cost declines,” said Francis Pullaro, Executive Director of RENEW Northeast, in remarks at the committee’s press conference. “For developers of renewable energy, RPS demand sends a signal on whether to invest in renewable energy development to meet the Commonwealth’s renewable energy needs.”
Renewable energy projects today are providing Massachusetts with positive economic benefits to host communities including much needed new tax revenue. The stream of projects supports local construction and service jobs during development and new opportunities in operations and maintenance once projects are supplying clean energy.
A new study coauthored by New York, Massachusetts, Rhode Island, and the Clean Energy States Alliance, U.S. Job Creation in Offshore Wind, finds that 8 gigawatts of offshore wind from Maryland to Maine will create almost 40,000 full-time U.S. jobs by 2028.
The level of renewable energy demand created by the bill will certainly benefit consumers with lower prices. Years of investment in offshore wind on a massive scale is not only making Europe’s environment cleaner but electricity more affordable. Last year, one developer won two German offshore wind power contracts with the promise of a zero-subsidy bid. As the U.S. offshore wind industry matures, we should see similar favorable prices for Massachusetts.