Since U.S. President Barack Obama took office in early 2009, the developed countries, mainly U.S., have vigorously promoted the new energy strategy and given strong support to the new energy industry in various ways. To further track the status quo of renewable energy development in developed countries, the author compiled and analyzed the US renewable energy generation in recent years and the renewable energy policies announced in 2009 in accordance with the statistical reports issued by the US Energy Information Administration and other agencies.
Abnormal fluctuations in energy consumption
The data shows that in 2009, the U.S. GDP fell by about 2.4% from 2008, and energy consumption experienced abnormal fluctuations. In 2009, the energy consumption was 2.371 billion tons of oil equivalent, a decrease of 115 million tons of oil equivalent from the 2.486 billion tons of oil equivalent in 2008, a decrease of nearly 5%. From the point of view of resource types, coal consumption fell the most, with about 60 million tons of oil equivalent, a decrease of over 10%; and oil reduction of 0.5 billion tons, a decrease of 5.5%. However, the market share of renewable energy has risen instead of rising. Renewable energy consumption has increased by 5% year-on-year, accounting for 8% of total energy consumption.
Renewable energy consumption increased from 184 million tons of oil equivalent in 2008 to 193 million tons of oil equivalent. The consumption of biofuels, hydropower, and wind power increased by 4.35 million tons, 4.25 million tons, and 3.78 million tons of oil equivalent, respectively. However, the wood-fired power consumption in biomass power generation decreased by 7.5%. Biofuels increased in 2009 compared to 2008, but the increase was slower than in 2007 and 2008. Ethanol consumption increased by 2.35 million tons of oil equivalent, and total consumption reached 22.35 million tons of oil equivalent. Domestic biodiesel consumption increased from 1.0 million tons of oil equivalent in 2008 to 1.1 million tons of oil equivalent.
Rapid development of wind power
The U.S. net power generation in 2009 was 3953.1 billion kWh (British BP statistics generated 4.194 trillion kwh in 2009), which is 4% lower than in 2008. The amount of renewable energy generated was 413.25 billion kWh, an increase of 8.45% year-on-year, and a net increase of 32.21 billion kWh, of which conventional hydropower generation increased by 17.3 billion kWh.
In recent years, wind power in the United States has developed rapidly. In 2009, electricity generation increased by 15.4 billion kWh, a growth rate of 27.8%, total wind power generation reached 70.76 billion kWh, and wind power generation accounted for 5% of renewable energy in 2005. It grew to 17.1% in 2009. In the same year, wind farms in Iowa and Texas added more than 3 billion kilowatt-hours of electricity.
The U.S. Energy Information Administration recently reported that in 2009, the U.S. renewable power generation output (the summer net capacity, which differed from the installed capacity at the end of the year, hereinafter referred to as capacity), increased by 9.376 million kilowatts and the total capacity reached 125.80 million kilowatts. The growth rate of wind power is very fast. Among the new capacity added in 2009, wind power accounted for 95%, and biomass power generation, geothermal heat, solar energy, etc. had a smaller increase.
At present, relevant agencies in the United States have not yet announced the installed capacity of various types of renewable energy at the end of 2009, but according to statistics released by British BP in 2009, the installed capacity of wind power, solar energy, and geothermal power in the United States at the end of 2009 were 35.159 million kilowatts and 1.646 million kilowatts respectively. And 3.087 million kilowatts, biomass energy utilization of 29.05 million tons of standard coal. The U.S. geothermal power, wind power installed capacity, and biomass energy utilization all ranked first in the world, and solar installed capacity ranked fourth in the world.
According to the information released by the U.S. Energy Information Administration, the installed capacity and power generation of the U.S. electricity industry from 2006 to 2009 were summarized and analyzed (see details in the table). On the whole, conventional hydropower, geothermal, and biomass power generation are slow to develop, and their development potential is limited. However, the development of wind power and solar energy is very fast. In 2009, the installed capacity of renewable energy power generation is expected to account for about 11.5% of the total installed capacity, and power generation accounts for approximately 10.45%.
Incentive policies to expand funding and financing support
At the beginning of Obama’s inauguration, it was a time when the current round of economic crisis had developed to the deepest: large banks were facing bankruptcy, the economy was in a severe recession, and the unemployment rate was rising. After taking office, the Obama administration focused its attention on the development of new energy fields, tried to bring the economy out of the quagmire through the development of new energy industries, and various new energy support policies have become extremely important components.
In order to promote the rapid development of renewable energy, on the basis of the introduction of various laws and regulations in previous years, the United States government issued the "Recovery and Reinvestment Act" in February 2009. There are several provisions in the bill that promote the development of renewable energy, the most important of which is the expansion of funding and financing support.
1. Production tax credit (PTC). Wind power and closed biomass power plants that are newly put into operation before the end of 2012 (requiring fuel, that is, biomass to be planted specifically for the plant, and higher costs), and geothermal power, urban waste power generation, and biogas that were put into operation by the end of 2013 Other renewable energy sources such as power generation, oceans, and tidal energy, implement production tax credit policies, and provide support in the form of tax relief. The production tax credits are calculated on the basis of power generation. The standards are wind power, closed biomass power generation and geothermal power generation of 2.2 cents/kWh, and other renewable energy sources that meet the conditions of 1.1 cents/kWh. The credit period is 10 years. Production tax credits do not have to be applied for, and are directly deducted at the time of taxation.
2. Investment tax credit (ITC). For wind power projects put into operation by the end of 2012 and other renewable energy power projects put into operation before the end of 2016, a subsidy application will be submitted within 60 days after being put into operation. After being examined and confirmed by the subordinate departments of the Ministry of Finance, the federal government will provide 30% of the project completion price. In tax cuts, the government does not release cash, but instead offsets the company’s operating profits in the coming years.
3. Treasury grant. Renewable energy projects that are in service in 2009 and 2010, as well as in 2009 and 2010, and put into operation before the federal government's deadline for tax cuts, will be provided with a one-time cash payment by the federal government at 30% of the project's completion price. subsidy. As the U.S. Department of the Treasury has detailed provisions on the various costs of the construction price, some of the fees charged by the developer for the total investment do not meet the requirements of the Ministry of Finance. Therefore, the actual amount of investment subsidies is only 25% to 27% of the total investment. The financial subsidy project is applied by the owner (taxpayer), and the financial subsidy is not included in the taxable income of the company. In fact, financial subsidies are a temporary measure for the United States to respond to the financial crisis and to stimulate the development of renewable energy.
The above three policies can only choose one. In addition to the above-mentioned stimulus policies, the federal government has also introduced some laws and regulations such as accelerated depreciation of renewable energy, loan guarantees for renewable energy projects, and renewable energy bonds. The state governments have also issued a number of preferential policies based on the actual conditions of each state. All these have played a significant role in promoting the development of renewable energy in the United States.
Abnormal fluctuations in energy consumption
The data shows that in 2009, the U.S. GDP fell by about 2.4% from 2008, and energy consumption experienced abnormal fluctuations. In 2009, the energy consumption was 2.371 billion tons of oil equivalent, a decrease of 115 million tons of oil equivalent from the 2.486 billion tons of oil equivalent in 2008, a decrease of nearly 5%. From the point of view of resource types, coal consumption fell the most, with about 60 million tons of oil equivalent, a decrease of over 10%; and oil reduction of 0.5 billion tons, a decrease of 5.5%. However, the market share of renewable energy has risen instead of rising. Renewable energy consumption has increased by 5% year-on-year, accounting for 8% of total energy consumption.
Renewable energy consumption increased from 184 million tons of oil equivalent in 2008 to 193 million tons of oil equivalent. The consumption of biofuels, hydropower, and wind power increased by 4.35 million tons, 4.25 million tons, and 3.78 million tons of oil equivalent, respectively. However, the wood-fired power consumption in biomass power generation decreased by 7.5%. Biofuels increased in 2009 compared to 2008, but the increase was slower than in 2007 and 2008. Ethanol consumption increased by 2.35 million tons of oil equivalent, and total consumption reached 22.35 million tons of oil equivalent. Domestic biodiesel consumption increased from 1.0 million tons of oil equivalent in 2008 to 1.1 million tons of oil equivalent.
Rapid development of wind power
The U.S. net power generation in 2009 was 3953.1 billion kWh (British BP statistics generated 4.194 trillion kwh in 2009), which is 4% lower than in 2008. The amount of renewable energy generated was 413.25 billion kWh, an increase of 8.45% year-on-year, and a net increase of 32.21 billion kWh, of which conventional hydropower generation increased by 17.3 billion kWh.
In recent years, wind power in the United States has developed rapidly. In 2009, electricity generation increased by 15.4 billion kWh, a growth rate of 27.8%, total wind power generation reached 70.76 billion kWh, and wind power generation accounted for 5% of renewable energy in 2005. It grew to 17.1% in 2009. In the same year, wind farms in Iowa and Texas added more than 3 billion kilowatt-hours of electricity.
The U.S. Energy Information Administration recently reported that in 2009, the U.S. renewable power generation output (the summer net capacity, which differed from the installed capacity at the end of the year, hereinafter referred to as capacity), increased by 9.376 million kilowatts and the total capacity reached 125.80 million kilowatts. The growth rate of wind power is very fast. Among the new capacity added in 2009, wind power accounted for 95%, and biomass power generation, geothermal heat, solar energy, etc. had a smaller increase.
At present, relevant agencies in the United States have not yet announced the installed capacity of various types of renewable energy at the end of 2009, but according to statistics released by British BP in 2009, the installed capacity of wind power, solar energy, and geothermal power in the United States at the end of 2009 were 35.159 million kilowatts and 1.646 million kilowatts respectively. And 3.087 million kilowatts, biomass energy utilization of 29.05 million tons of standard coal. The U.S. geothermal power, wind power installed capacity, and biomass energy utilization all ranked first in the world, and solar installed capacity ranked fourth in the world.
According to the information released by the U.S. Energy Information Administration, the installed capacity and power generation of the U.S. electricity industry from 2006 to 2009 were summarized and analyzed (see details in the table). On the whole, conventional hydropower, geothermal, and biomass power generation are slow to develop, and their development potential is limited. However, the development of wind power and solar energy is very fast. In 2009, the installed capacity of renewable energy power generation is expected to account for about 11.5% of the total installed capacity, and power generation accounts for approximately 10.45%.
Incentive policies to expand funding and financing support
At the beginning of Obama’s inauguration, it was a time when the current round of economic crisis had developed to the deepest: large banks were facing bankruptcy, the economy was in a severe recession, and the unemployment rate was rising. After taking office, the Obama administration focused its attention on the development of new energy fields, tried to bring the economy out of the quagmire through the development of new energy industries, and various new energy support policies have become extremely important components.
In order to promote the rapid development of renewable energy, on the basis of the introduction of various laws and regulations in previous years, the United States government issued the "Recovery and Reinvestment Act" in February 2009. There are several provisions in the bill that promote the development of renewable energy, the most important of which is the expansion of funding and financing support.
1. Production tax credit (PTC). Wind power and closed biomass power plants that are newly put into operation before the end of 2012 (requiring fuel, that is, biomass to be planted specifically for the plant, and higher costs), and geothermal power, urban waste power generation, and biogas that were put into operation by the end of 2013 Other renewable energy sources such as power generation, oceans, and tidal energy, implement production tax credit policies, and provide support in the form of tax relief. The production tax credits are calculated on the basis of power generation. The standards are wind power, closed biomass power generation and geothermal power generation of 2.2 cents/kWh, and other renewable energy sources that meet the conditions of 1.1 cents/kWh. The credit period is 10 years. Production tax credits do not have to be applied for, and are directly deducted at the time of taxation.
2. Investment tax credit (ITC). For wind power projects put into operation by the end of 2012 and other renewable energy power projects put into operation before the end of 2016, a subsidy application will be submitted within 60 days after being put into operation. After being examined and confirmed by the subordinate departments of the Ministry of Finance, the federal government will provide 30% of the project completion price. In tax cuts, the government does not release cash, but instead offsets the company’s operating profits in the coming years.
3. Treasury grant. Renewable energy projects that are in service in 2009 and 2010, as well as in 2009 and 2010, and put into operation before the federal government's deadline for tax cuts, will be provided with a one-time cash payment by the federal government at 30% of the project's completion price. subsidy. As the U.S. Department of the Treasury has detailed provisions on the various costs of the construction price, some of the fees charged by the developer for the total investment do not meet the requirements of the Ministry of Finance. Therefore, the actual amount of investment subsidies is only 25% to 27% of the total investment. The financial subsidy project is applied by the owner (taxpayer), and the financial subsidy is not included in the taxable income of the company. In fact, financial subsidies are a temporary measure for the United States to respond to the financial crisis and to stimulate the development of renewable energy.
The above three policies can only choose one. In addition to the above-mentioned stimulus policies, the federal government has also introduced some laws and regulations such as accelerated depreciation of renewable energy, loan guarantees for renewable energy projects, and renewable energy bonds. The state governments have also issued a number of preferential policies based on the actual conditions of each state. All these have played a significant role in promoting the development of renewable energy in the United States.
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