SOLAR 10 23,000 per year

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2 renewable finite per year WIND 1,2 Waves1 1, total SOLAR 10 23,000 per year 2009 World energy use 16 TWy per year 3-11 per year OTEC 1,4 2 6 per year Biomass 1,5 Natural Gas 1,8 Petroleum 1,8 240 total 2050: 28 TW TIDES per year 3 4 per year HYDRO 1, per year Geothermal 1, Total Uranium 1,9 R. Perez et al. 900 Total reserve COAL 1,8

3 Heat wave A/C electrical demand peak Richard Perez, ASRC

4 Heat wave A/C electrical demand peak Richard Perez, ASRC

5 100 o F 80 o F 60 o F 40 o F 20 o F Richard Perez, ASRC

6 NGCC Hydro Richard Perez, ASRC

7 Perez et al., ASRC Northeast US AUG 14 th, 2003

8 17:00 GMT 18:00 GMT As little as 500 MW of PV dispersed around the major northeastern cities would have prevented the blackout An investment of $ 3 billion Outage cost $ 8 billion 19:00 GMT 20:00 GMT Richard Perez, et al.

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11 EQUIPMENT INCENTIVES PRODUCTION TAX EFFECTS COST VALUE VALUE VALUE

12 EQUIPMENT COST VALUE VALUE INCENTIVES VALUE COST PRODUCTION VALUE COST TAX EFFECTS VALUE COST

13 Equipment /kwh VALUE VALUE

14 Equipment /kwh VALUE VALUE Energy 3-12

15 /kwh VALUE VALUE Energy

16 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution System Customer Customer Customer Customer Customer

17 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution 0-4 Distribution System Customer Customer Customer Transformer Customer Substation Customer

18 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution 0-4

19 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution Security Enhancement

20 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution Security Enhancement US-Wide cost of outages: $ billion per year* 5% mitigated by PV *Gellings, C. W., and K. Yeager, (2004): Transforming the electric infrastructure. Physics Today, Dec

21 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution Security Enhancement Environment $40 per ton of CO 2

22 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution Security Enhancement Environment Fuel price Mitigation NPV of Insurance against 250% increase in finite fuels by 2035

23 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution Security Enhancement Environment Fuel price Mitigation Economic Growth New York Income Tax revenue increase based on German experience

24 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution Security Enhancement Environment Fuel price Mitigation Economic Growth Very Long Term Stability 7-60 Difference between societal and business discount rates

25 /kwh VALUE VALUE Energy Distribution Energy 0-2 Distribution Security Enhancement Environment Fuel price Mitigation Economic Growth Very Long Term Stability 7-60 TOTAL 20 45

26 /kwh VALUE VALUE Energy Distribution Energy 0-2 One and the same Distribution Security Enhancement Environment Fuel price Mitigation Economic Growth Very Long Term Stability 7-60 TOTAL High Penetration <<10 up to 30%

27 /kwh VALUE VALUE Energy Net meter Distribution Energy 0-2 One and the same Distribution Security Enhancement FIT RECs Environment Fuel price Mitigation Economic Growth Very Long Term Stability Grants Tax effects TOTAL High Penetration <<10 up to 30% 7-60

28 /kwh VALUE VALUE Energy Net meter Distribution Energy 0-2 One and the same Distribution Security Enhancement FIT RECs Environment Fuel price Mitigation Economic Growth Very Long Term Stability Grants Tax effects TOTAL High Penetration <<10 up to 30% 7-60

29 /kwh VALUE VALUE Energy Net meter Distribution Energy 0-2 One and the same Distribution Security Enhancement FIT RECs Environment Fuel price Mitigation Economic Growth Very Long Term Stability Grants Tax effects TOTAL High Penetration <<10 up to 30% 7-60

30 renewable finite per year WIND 1,2 Waves1 1, total SOLAR 10 23,000 per year 2009 World energy use 16 TWy per year 3-11 per year OTEC 1,4 2 6 per year Biomass 1,5 Natural Gas 1,8 Petroleum 1,8 240 total 2050: 28 TW TIDES per year 3 4 per year HYDRO 1, per year Geothermal 1, Total Uranium 1,9 R. Perez et al. 900 Total reserve COAL 1,8

31 solar WIND Coal Natural Gas Biomass Miles below the ocean floor lies enough oil to power the US for more than a decade and perhaps our best shot at energy independence Newsweek March 22, 2010 Uranium Richard Perez Petroleum

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33 Traditional View ENERGY Effective View source: RReDC CAPACITY lowest highest Richard Perez, ASRC

34 /kwh VALUE VALUE Energy Net meter Distribution Energy 0-2 One and the same Distribution Security Enhancement FIT RECs Environment Fuel price Mitigation Economic Growth Very Long Term Stability Grants Tax effects TOTAL High Penetration <<10 up to 30% 7-60