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Renewable Energy and Carbon Credits Heath Norrick Manager of Renewable Energy Hoosier Energy REC, Inc.

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Presentation on theme: "Renewable Energy and Carbon Credits Heath Norrick Manager of Renewable Energy Hoosier Energy REC, Inc."— Presentation transcript:

1 Renewable Energy and Carbon Credits Heath Norrick Manager of Renewable Energy Hoosier Energy REC, Inc.

2 Presentation Outline Hoosier Corporate Profile Carbon Credits Vs. Renewable Energy Credits (RECs) Uses and Markets for Credits Hoosier Efforts Conclusions

3 Hoosier Energy REC, Inc. Generation and transmission cooperative (G&T) Approximately $1 billion in assets Own & operate power plants & transmission assets 2 coal plants 1,000 MW and 250 MW) 2 gas plants MW and 175 MW) Own & maintain over 1,300 miles of transmission lines and 250 delivery points Over 10 million megawatt-hours (MWh) sales in 2006 Assisted with over $7B in new investment in central and southern Indiana in the last 15 years

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5 Carbon Credits Vs. RECs Carbon Credits Electricity generation is not necessary for production: Tons of CO 2 reduced, avoided, or sequestered Carbon Credits are defined by international protocols or voluntary markets Cannot “double dip” with Carbon Credits and RECs from same source Renewable Energy Credits Only relates to the generation of electricity 1 MWh=1 REC RECs are defined at the state level currently for RPS purposes Debate over what types of generation produce RECs

6 Uses and Markets Carbon Credits Meet emissions limits in cap and trade systems Involves multiple industrial sectors Allow companies/individuals to offset carbon footprint voluntarily EU ETS, Chicago Climate Exchange, Renewable Energy Credits Meet Renewable Portfolio Standards at state level Involves the electrical generation industry Allow companies/individuals to use green energy voluntarily 29 States now have RPS

7 Landfill Gas Generation Clark Floyd Landfill Generating Station – Add a third Engine by June 2009 – Increase total output to 3.6 MW

8 Biomass Carbon neutral, baseload, generation Potential around MW Utilizes local waste streams Possible fuel mixing benefits at current coal facilities

9 Coalbed Methane Current Project – Data Gathering/Modeling – Core Sampling Purpose – Quantity and Quality of Gas estimation

10 Story County Wind Farm 150 MW Total = 100 GE SLE 1.5MW Turbines Hoosier has 25 MW Developed by Florida Power & Light COD November 15, 2008

11 Small Scale Wind & Solar In Operation: Merom Education Center—15kW Wind, 3kW Solar Victory Primary—1.8kW Wind, 3kW Solar Decatur Switch Station—3kW Solar In Progress or Scheduled for Completion by 2009: Worthington Primary—3-6kW Solar Franklin Training Center—3kW Solar Member Cooperative Wind & Solar Program Hoosier will provide a set financial contribution and project development guidance to REMCs wishing to install Wind or Solar Systems REMC owned installations will have high community visibility for member education

12 Conclusions RECs provide a vehicle for lowering carbon emissions in one sector of the economy RECs monetize and track current carbon reduction while waiting for federal regulation Carbon Credits and RECs share common purpose


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