|
Green Investor News - FPL Group (NYSE: FPL) President and COO Calls on Congress to Enact a 'Renewable Electricity Standard' to Drive the Clean Energy Economy
JUNO BEACH, Fla. -- Congress should enact a Renewable Electricity Standard (RES) this year in order to help fuel the growth of America's clean energy economy, FPL Group (NYSE: FPL) President and Chief Operating Officer Jim Robo told Congress today.
In a hearing before the House Energy and Commerce Committee's Subcommittee on Energy and Environment, Robo said that investing in renewable energy is the right policy for the nation.
"It will replace finite fossil fuels with the infinite energy of the wind and the sun. It will result in cleaner air. It will conserve precious water resources. It will strengthen our energy security in a volatile world. And finally, it will keep us competitive in the race to build a clean energy economy," he said.
Robo noted that FPL Group has one of the lowest carbon dioxide emissions rates in the nation.
"In fact, if every utility were as clean as FPL Group, CO2 emissions from the power sector would be reduced by nearly 50 percent. Total U.S. carbon emissions would be reduced by 20 percent, which is the equivalent of removing 209 million cars from the road, or roughly equivalent to 80 percent of all of the vehicles in the nation," he said.
Despite its tremendous growth over the past decade, renewable energy's potential remains extraordinary, Robo said. "Each year, enough solar energy strikes a 90-by-90 mile patch of the Mojave Desert to meet the annual electricity needs of the entire country. And enough wind power sweeps across the Dakotas to meet more than half of our electricity needs. We've barely begun to tap this nearly unlimited resource," he said.
In urging Congress to enact an RES, Robo said it would create a clean energy economy. "Many countries are betting that the world of the future will thirst for low-carbon energy the way it thirsts for oil today. We can't afford to remain on the sidelines while the renewables industry and the jobs that go along with it are created elsewhere. We're already falling behind even Europe in this regard – in fact, nearly every one of FPL Group's largest renewable energy competitors is from outside the United States," he said.
In order for the renewable energy industry to reach its full potential, developers need certainty and utility decision-makers need a sense of urgency, Robo said. "We can't spend billions of dollars to build a clean energy economy without confidence that demand for low-carbon power will remain strong. A federal RES with timelines extending to 2039 will send the clearest possible signal to investors that demand for renewables will continue. And the targets that utilities must meet along the way will provide the urgency needed for prompt action. The best incentive to ensure timely and proactive utility decision-making around renewables is a reasonable yet firm target," he said.
"Make no mistake: In many markets, renewables such as wind are competitively priced today, despite the fact that they are disadvantaged versus fossil fuels due to the lack of a price on carbon. The cost of wind power has fallen by roughly 25 percent over the past decade, even as the average electric bill in the U.S. has risen by nearly 50 percent. By stimulating demand, an RES will continue to drive down the cost of renewables over time," Robo said.
FPL Group: Energy Solutions for the Next Era
FPL Group (NYSE: FPL) is a leading clean energy company with 2008 revenues of more than $16 billion, approximately 39,000 megawatts of generating capacity, and more than 15,000 employees in 27 states and Canada. Headquartered in Juno Beach, Fla., FPL Group's principal subsidiaries are NextEra Energy Resources, LLC, the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country. Through its subsidiaries, FPL Group collectively operates the third largest U.S. nuclear power generation fleet. For more information about FPL Group companies, visit these Web sites: www.FPLGroup.com, www.NextEraEnergyResources.com, www.FPL.com.
Contacts:
FPL Group, Inc.
Randy Clerihue, 305-552-3888
Published at The Investorideas.com Renewable Energy and GreenTech Business and Stock News RSS Feed: Subscribe : http://www.investorideas.com/RSS/feeds/RES.xml
Become an Investorideas.com Member:
Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and the complete renewable energy stocks directory.
Learn more: http://www.investorideas.com/membership/
Sign up for free newsletter, stock and sector news alerts at Investorideas.com
click here: http://www.investorideas.com/Resources/Newsletter.asp
InvestorIdeas.com Disclaimer: Issuers of press releases and articles are solely responsible for the accuracy of the content
|
