1. www.eia.gov U.S. Energy Information Administration Independent Statistics & Analysis Key Drivers Affecting the Outlook for Renewables For US Power & Renewable Finance Conference February 14, 2013 | New York, NY By Howard Gruenspecht Deputy Administrator

2. In 2012, U.S. electricity generation was 69% fossil fuels, 19% nuclear, and 12% renewables Nuclear 18.8% Natural gas 30.8% January – November 2012 net generation: 3,720 billion kWh Coal 37.2% January – November 2012 non-hydro renewable net generation: 126 billion kWh Geothermal: 0.4% Other biomass: 0.5% Wood and wood- derived fuels: 0.9% Other renewable 5.3% Conventional hydroelectric 6.8% Wind: 3.4% Solar thermal and PV: 0.1% Petroleum 0.6% Other gases 0.3% 2 Source: EIA, Electric Power Monthly, January 2013 Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013

3. Renewable energy is projected to grow far more robustly than other types of energy 3 Average annual growth rates percent per year (2010-2040)(2008-2035) All renewable energy All other energy Non-hydro renewable energy Source: EIA, Annual Energy Outlook 2013 Early Release, International Energy Outlook 2011 Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013

4. Spot natural gas prices vary significantly across global markets since 2008, with many markets far below oil-related benchmarks Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013 4 Global spot natural gas, crude oil, and LNG prices U.S. dollars per million British thermal unit Source: Derived from Bloomberg, L.P.

5. 5 Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013 $2.00 $1.94 $1.65 $1.96 $1.67 $1.79 $2.35 1.90 $1.74 $2.58 $2.77 $4.07 $3.99 $3.41 $2.10 $2.39 $3.16 $3.76 $2.39 $3.18 N/A National AverageMinimumMaximum $2.38$1.65$4.07 2011 Delivered coal prices, $ per million Btu Source: EIA, Annual Energy Outlook 2013 Early Release The average delivered price of coal to electricity generators varies widely across U.S. regions – transport costs are a key reason

6. Growth in electricity use slows, but still increases by 28% from 2012 to 2040 6 U.S. electricity use percent growth (3-year rolling average) Structural Change in Economy - Higher prices - Standards - Improved efficiency Projections History 2011 Period Annual Growth 1950s 9.8 1960s 7.3 1970s 4.7 1980s 2.9 1990s 2.4 2000-2011 0.9 2012-2040 0.9 Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013 Source: EIA, Annual Energy Outlook 2013 Early Release

7. 7 Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013 National AverageMinimumMaximum Coal 42%0%80% Natural Gas 25%2%87% Nuclear 19%0%41% Renewables 13%1%65% Oil / Other 1%0%5% Share of Generation by Fuel, 2011 Source: EIA, Annual Energy Outlook 2013 Early Release, based on Form EIA-923 The fuel mix for electricity generation varies widely across U.S. regions (2011)

8. The U.S. electricity mix in EIA’s reference case gradually shifts to lower-carbon options, led by growth in gas and renewable generation 8 U.S. electricity net generation trillion kilowatthours 25% 19% 42% 13% 1% Nuclear Oil and other liquids Natural gas Coal Renewables 2011 ProjectionsHistory 17% 16% 35% 30% 1% 1993 53% 13% 19% 11% 4% Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013 Source: EIA, Annual Energy Outlook 2013 Early Release

9. For more information 9 U.S. Energy Information Administration home page | www.eia.govwww.eia.gov Annual Energy Outlook | www.eia.gov/forecasts/aeowww.eia.gov/forecasts/aeo Short-Term Energy Outlook | www.eia.gov/forecasts/steowww.eia.gov/forecasts/steo International Energy Outlook | www.eia.gov/forecasts/ieowww.eia.gov/forecasts/ieo Today In Energy | www.eia.gov/todayinenergywww.eia.gov/todayinenergy Monthly Energy Review | www.eia.gov/totalenergy/data/monthlywww.eia.gov/totalenergy/data/monthly Annual Energy Review | www.eia.gov/totalenergy/data/annualwww.eia.gov/totalenergy/data/annual Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013

10. 10 U.S. primary energy consumption quadrillion Btu HistoryProjections 2011 36% 20% 26% 8% 1% 32% 28% 19% 11% 9% 2% Shares of total U.S. energy Nuclear Oil and other liquids Liquid biofuels Natural gas Coal Renewables (excluding liquid biofuels) 2000 23% 39% 24% 6% 8% Howard Gruenspecht, US Power & Renewable Finance Conference February 14, 2013 Source: EIA, Annual Energy Outlook 2013 Early Release U.S. energy use grows slowly over projection reflecting improving energy efficiency and a slow and extended economic recovery