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A new report says increased use of renewable energy sources and energy efficiency should save N.C. utility customers money over the next 13 years.
State and local incentives totaling $72 million have attracted $1.4 billion worth of renewable-energy and energy-efficiency investment in North Carolina, according to a study commissioned by the N.C. Sustainable Energy Association.
The study performed by LaCapra Associates of Boston and RTI International of the Research Triangle Park measured the impact of renewable-energy programs in the state from 2007 to 2012.
And the report says renewable sources and energy conservation have not cost customers additional money, despite the surcharges placed on customer bills for those items. The study contends the costs to customers in 2012 were marginally less than what customers would have paid without renewables and energy conservation in the mix.
The study estimates that by 2026 the currently mandated use of renewables and conservation in North Carolina will save customers $173 million in costs for generating electricity. Rates will be 0.6% to 1.3% lower by 2026 because of renewables and conservation than they would be using only conventional energy sources, the report predicts.
The report estimates that the use of clean-energy technologies have created the equivalent of more than 21,000 jobs in the state since 2007 through direct and indirect economic impacts.
The report says the clean-energy industry is growing in the state. But it faces threats, including moves in the N.C. General Assembly that could eliminate a 35% tax credit for renewable-energy projects and alter or eliminate state mandates that will require utilities to get 12.5% of the power they sell from renewable sources by 2021.
John Downey covers the energy industry and public companies for the Charlotte Business Journal.
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