Report highlights states driving renewable energy
New research from Ernst & Young compares states across the nation based on their suitability for renewable energy markets and infrastructure.
The report, which benchmarks the U.S. investments that drive the state energy markets, ranks Nevada, Massachusetts, Colorado, Texas and New Mexico among the top spots after California for their thriving renewable energy programs.
Nevada's wind market improved as a result of the commercial operation commencement of the state's first wind farm on public land and the state's review of a potentially massive solar pipeline project. Nevada's installed wind capacity has increased by 39 percent in 2012. Nevada currently has 3,500 MW of renewable energy under development.
Although not an especially sunny state, Massachusetts continues to take advantage of a new Energy Act, which complements other state incentives like SB 2395 and makes it one of the most attractive states for small-scale solar.
"In light of national tax credits that have been expiring over the past year, states interested in maintaining or bettering their renewable energy markets have had to make efforts to take advantage of remaining incentives," said Michael Bernier, senior manager, national tax at Ernst & Young LLP. "Nevada, in particular, has been successful in doing this. It helped developers capitalize on state programs, such as their PACE program, and their sales and use tax abatement program."
A second term for the Obama Administration could mean a strong long-term national outlook for renewable energy if Congress will support the agenda.
- see the report
Building a smarter renewable energy future