Catalyzing Clean Energy in Northern New England
A study released today by The Nature Conservancy (TNC) and Coastal Enterprises Inc. (CEI) identifies strategies to transition New Hampshire, Vermont, and Maine to a clean energy economy. Innovative public-private partnerships and new investments can spark a clean energy future that has the potential to catalyze the creation of new jobs, expand access to renewable energy and energy efficiency, and lower greenhouse gas emissions.
According to the report, it will require $100 billion of investment across the three Northern New England states to transition to a clean energy future. Northern New England spends $8.2 billion every year on imported fossil fuels that could be redirected toward local clean energy solutions to eventually meet 80% of the region’s energy needs with renewable heating and electricity, energy efficiency, and electric vehicle transportation.
The transition to cleaner and more efficient energy will rely largely on private investment and leadership from businesses, governments, and non-governmental organizations (NGOs). Investments in clean energy have proven economic benefits. Energy efficiency and distributed clean energy can reduce energy costs, hedge against volatile energy prices, and support local jobs. The report shows that improved policy approaches like expanded opportunities for community solar energy projects and innovative financing mechanisms can help overcome upfront cost barriers and allow businesses, consumers and municipalities to realize costs savings from day one.
TNC & CEI are striving to create a vision for a clean energy future that is rooted in affordability, accessibility, and availability. This report helps identify tools to increase investment and finance to support the region’s transition to clean, reliable, affordable energy for ratepayers of all types and scales.
The Nature Conservancy in Vermont, New Hampshire, and Maine and Coastal Enterprises Inc. commissioned the Vermont Energy Investment Corporation (VEIC) to research and identify the opportunities and challenges to clean energy investment, the results of which can be found in the “Advancing Clean Energy Investment in Northern New England” report.
The Nature Conservancy and Coastal Enterprises are hosting a tri-state stakeholder forum to discuss the report findings, on February 25th in Concord, New Hampshire at the TNC office. Government officials, state legislators, clean energy advocates, and business leaders are being invited to attend to help chart a path forward to a clean energy future for the northern New England region. TNC plans to convene additional dialogue among key players about the report and priority pathways for action over the course of this year.
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world's toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 72 countries and territories: 38 by direct conservation impact and 34 through partners, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit www.nature.org or follow @nature_press on Twitter.