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FLORIDA SOLAR ENERGY CENTER Creating Energy Independence Since 1975 A Research Institute of the University of Central Florida Taking Charge of Our Energy Future Choosing the Better Pie James M. Fenton, Ph.D. Director

Taking Charge of Our Energy Future

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Taking Charge of Our Energy Future. Choosing the Better Pie James M. Fenton, Ph.D. Director. Current Projection. New Generation for 2014. Why Not?. New Generation for 2014. Economic Context. The economic implications of fuel purchases in Florida are large - PowerPoint PPT Presentation

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Page 1: Taking Charge of Our Energy Future

FLORIDA SOLAR ENERGY

CENTERCreating Energy Independence Since 1975

A Research Institute of the University of Central Florida

Taking Charge of Our Energy FutureChoosing the Better Pie

James M. Fenton, Ph.D.Director

Page 2: Taking Charge of Our Energy Future

Current Projection

New Generation for 2014

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Why Not?

New Generation for 2014

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Economic Context

The economic implications of fuel purchases in Florida are large At $2.50/gal = $23 billion/year for automotive fuel.

Plus another $17 billion/year for electricity yields a total of $40 billion/year

At least half ($20 billion per year) leaves Florida’s economy as fuel payments to other states and nations.

Keeping this money in Florida would result in $40 to $60 billion/year (2-3 times the $20 billion exported) in real economic activity and job creation.

Florida ranks 5th nationally in the amount of energy consumed per capita and 3rd in total energy consumption. (This statistic does not account for tourists.)

Page 5: Taking Charge of Our Energy Future

Growth Opportunities

Florida has one of the nation’s fastest growing populations (1,000 new residents per day), promoting rapid expansion of an energy industry that imports its fuel supplies.

160,000 new homes per year in Florida

The tourist industry brings upwards of 80 million visitors a year to Florida, adding to the burgeoning demand.

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Florida Solar Energy Center

Created in 1975 by the Florida Legislature The energy research institute of the state of Florida Mission is research, testing and education More than $9 - 12 million annually in external

contracts and grants The experience, staff (>140) and capabilities to help

solve our energy problems and help meet our energy needs

Began as a “solar energy” center, but grew into many new research and development areas

Housed in one of the world’s most energy-efficient buildings.

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Florida Solar Energy Center

Creating Energy Independence Since 1975

A Research Institute of the University of Central Florida

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FSEC Program Areas

High-Performance Buildings (energy efficiency)

Solar Thermal Systems (today’s cost-effective solution)

Photovoltaics (solar electricity) Testing & Certification (protecting Florida’s citizens)

Hydrogen and Fuel Cells (the future’s fuels and engines)

Education and Training (Florida’s workforce for today and the future)

Alternative Fuels & Transportation (an agricultural opportunity for Florida)

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Some FSEC Highlights

Our buildings research has helped save state residents more than $2.2 billion in energy costs.

Our solar research has led to more than 250,000 solar water heating systems installed in the state – saving homeowners $30 million annually.

We have trained more than 15,000 industry professionals, government officials and others.

Our PV research has helped accelerate a market now growing 30 percent annually.

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The Art of the PossibleThe Lakeland House

Project

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Efficiency First

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Electric Power:Business-as-usual?

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Residential Dominates

2004 Actual Energy Use by Sector (233 TWh)

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Governor Bush on Energy

“… the cheapest, easiest and fastest kilowatt we can generate is the one

we save through efficiencies. There is a

consensus on conservation and

efficiency, so let us start there.”

Jeb Bush, 2000

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Pay Me Now Or . . .Pay me more later!

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#1 Recommendatio

n

“Create or designate an entity to oversee state energy policy. Give it the authority, responsibility and appropriations it needs and hold it accountable for accomplishing its mission.”

Source: “Florida’s Energy Future: Opportunities for Our Economy, Environment and Security.” Report to Florida DEP, January 2004. (available online at www.fsec.ucf.edu)

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New Opportunities:Federal Tax Credits!

$2,000 to builders of highly efficient new residences

30% of expenditures, up to $2,000, to purchasers of residential solar hot water systems

30% of expenditures, up to $2,000, to purchasers of residential PV systems.

Up to $500 for energy-efficiency improvements to existing homes.

Residential Buildings

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Sweetening the Pot

There are many additional federal income tax incentive opportunities in commercial buildings, transportation, etc.

But, . . . If Florida wants to maximize the availability of federal income tax incentives and transform its marketplace for high-efficiency buildings, then Florida will need to step up to the plate and provide additional incentives.

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Example Incentives

Add the following performance-based Florida consumer rebates to to the federal income tax credits: Solar hot water systems – $0.30 per

annual kWh equivalent saved Home efficiency – $0.30 per annual kWh

equivalent saved Photovoltaic systems – $2.50 per peak

watt installed (minimum installation = 2 kW-peak)

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Payoff to Florida

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The 25 TWh Example

160,000 new Florida homes per year 24,000 tax credit homes per year 24,000 solar water heaters per year

6.2 million existing Florida homes 62,000 home improvements (15%) per

year 62,000 solar water heaters per year

Photovoltaic Systems 9,000 PV systems per year (2 kW peak)

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Off-the-Shelf Technology

40% annual energy savings (~$630)

2.06 kW

2000 sq.ft., 3 BR, single story, concrete block home

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Florida Benefits

Total energy savings 24.7 TWh

Total consumer cost savings

$2.47 billion

Total fuel not purchased $1.24 billion

Avoided capacity 1,669 MW

Avoided generation costs $1.67 billion

New jobs 126,000

Tradable renewable energy credits (TRECs)

$420 million

CO2 savings 26.4 million tons

Cumulative Ten Year Totals

Page 24: Taking Charge of Our Energy Future

Costs & Benefits

Cost ($mil)

Benefit (GWh)

Example Florida “Home Improvement” program $374* 4,497

2004 Florida DSM program

$240 239

* 50% of Florida “Home Improvement” costs covered by federal tax credits – actual cost to Florida is only $187 million per year.

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The Homes Benefit

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A Very Different Result

Old Pie New Pie