"The report issued today by the MPSC shows that our current renewable energy standard has been a great success, drawing investment and creating jobs and opportunities"
LANSING –A wide array of groups today applauded Michigan's highly successful renewable energy standard, which was highlighted in a report issued by the Michigan Public Service Commission (MPSC). They called on the Legislature to increase Michigan's renewable energy standard to drive investment and create jobs and opportunities in Michigan.
"Today's report by the MPSC shows that the cost of renewable energy continues to decline dramatically, and our lawmakers should see this as an opportunity to reduce electricity bills for families, businesses and communities," said Samantha Harkins, director of state affairs for the Michigan Municipal League. "Reducing the cost of electricity for communities means more money to invest in providing better basic services, creating vibrant communities and improving our quality of life."
According to the report, there has been significant investment in the renewable energy sector since 2008, with over $2 billion invested to bring 1,113 MW of new renewable energy projects online.
"The report issued today by the MPSC shows that our current renewable energy standard has been a great success, drawing investment and creating jobs and opportunities," said Jim Byrum, president of the Michigan Agri-Business Association. "The report noted that the cost of wind has been cut in half since 2008 and continues to decline. And with energy prices being one of our biggest costs of doing business, increasing our renewable energy standard will reduce costs and make our agribusinesses more competitive."
The report stated that the most recent wind contracts have levelized costs in the $50 to $59 per MWh range, half of the levelized cost of the first few renewable energy contracts approved in 2009 and 2010. This is significantly lower than the cost of coal, which is $107 per MWh, according to Consumers Energy.
"The clock runs out on Michigan's current renewable energy in 2015 and we need leadership from our legislators to continue this highly successful policy in order to reduce pollution," said Rory Neuner of MI Air MI Health. "I look forward to seeing legislative action in 2014 because transitioning from coal to clean energy will reduce illness, rein in health care costs and ultimately save lives."