Guest Blog by Jane Kozinski, Senior Policy Advisor, Climate Change at the British Consulate-General, New York.
The states in this region are moving rapidly to capitalize on the transition to a clean-energy economy and to support long-term sustainable growth.
Here is a quick snapshot of just a few of the laws, policy developments and investments in the mid-Atlantic and Northeastern states that create opportunities for clean energy development. Similar policies in the UK are reaping economic benefits for the UK — new jobs, the home of global leaders in the clean energy sector, etc. The US states that are ahead of the curve on clean-energy policy will likewise be positioning themselves for long-term sustainable growth.
- Regional collaboration on clean-energy and smart growth is the trend. The mid-Atlantic and Northeastern states and the federal government formed the Atlantic Offshore Wind Consortium, a joint federal and state cooperative group designed to promote the development of offshore wind and coordinate development efforts. These states also just signed an agreement (the Transportation & Climate Initiative) to cooperate on measures to improve “liveability” in the region by optimizing regional transportation and smart planning.
- To facilitate clean energy development, New Jersey just created a new office at the Department of Environmental Protection – the Office of Economic Growth & and Green Energy. The new office will work with environmental groups, business and industry, local governments, and residents to explore and create opportunities for economic growth while maintaining environmental protection.
- Off-shore wind got a big boost in New Jersey with the new Off-Shore Wind Economic Development Act. The Act incentivizes development of off-shore wind by setting a goal for off-shore wind energy production and authorizing Off-Shore Wind Renewable Energy Certificates (ORECs), a tradable environmental attribute. In addition, companies in the off-shore wind supply chain (cables, blades, turbines, etc.) that locate in the state’s first Off-Shore Wind Energy Zone (the new South Jersey Port) may be eligible for tax credits.
- Maine also caught the off-shore energy wave. In May it passed a law that sets a goal of 5 gigawatts of renewable energy from offshore sources by 2020, and establishes a competitive process for development of off-shore wind pilot projects and tidal energy demonstration projects.
- New York’s energy efficiency industry got a jump start with the passage of a law that authorizes “on-bill financing”, a mechanism that allows consumers to simply pay for their energy efficiency improvements directly as a line-item on their monthly energy bills.
- Pennsylvania continued to support renewable energy development this month by investing $18 million in renewable energy projects from the state’s $650 million Alternative Energy Investment Fund.
This is really a short list of the many state-level clean energy economic development programs in this region. There are many more. These efforts – undertaken in challenging economic times — demonstrate real commitment to sustainable growth.