Ohio enacts tough renewable law

subscribe

In a unanimous vote, the Ohio legislature has passed a new bill requiring 12.5% of Ohio's energy be generated from renewable sources like wind and solar.

Ohio now becomes the 26th state, including California, New York and Texas, to adopt renewable energy portfolio standards (RPS) - tough new laws which are creating one of the most dramatic shifts in the delivery of energy to American consumers ever.

Dozens of planned coal, natural gas and diesel-fired power plants have been cancelled across the country. Instead, 60-gigawatts of wind and solar power (enough energy to serve 20 million American homes) will be constructed, according to a new study by the Lawrence Berkeley National Laboratory.

Not surprisingly, wind and solar companies are enjoying record growth. Solar wafer maker ReneSola and photovoltaic company Yingli Green Energy both received upgrades from analysts at Piper Jaffray recently.

But as busy as the solar companies are wind is America's renewable energy of choice. Last year the wind industry installed an astonishing 5244-megawatts of new wind power outpacing solar's 254-megawatts by 20-1. The American Wind Energy Association estimates Ohio's new RPS law on its own will result in at least $10 billion of new wind energy project investments.

Related News

Canada expected to miss its 2035 clean electricity goals

OTTAWA - GlobalData’s latest report, ‘Canada Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution and Technology, Regulations, Key Players and Forecast, 2022-2035’, discusses the power market structure of Canada and provides historical and forecast numbers for capacity, generation and consumption up to 2035. Detailed analysis of the country’s power market regulatory structure, competitive landscape and a list of major power plants are provided. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition,…

READ MORE
ontario electricity future

Ontario's electric debacle: Liberal leadership candidates on how they'd fix power

READ MORE

power lines

California Regulators Face Calls for Action as Electricity Bills Soar

READ MORE

Prepare for blackouts across the U.S. as summer takes hold

READ MORE

louisiana power grid destroyed

Louisiana power grid needs 'complete rebuild' after Hurricane Laura, restoration to take weeks

READ MORE