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Finance and EconomicsThe geothermal industry has doubled itsworkforce over the past 2 years and willcontinue to increase.Additional tax credits, state RPS demand,natural gas price fluctuation, and slowercoal plant permitting processes will maintainits growth.The economic downturn of late 2008 and 2009has contributed to several market hurdles.In February, shares in geothermal companies were downroughly 56% YTD, causing extreme pressure on theirability to finance developments. Resource verificationcosts, already much higher than other renewable technologies,are impeding project development. However, TheAmerican Recovery and Reinvestment Act (ARRA) hasprovided much hope to the geothermal finance communityfor its Department of Energy loan guarantees and TreasuryDepartment tax grants.PolicyThe American Recovery and Reinvestment Actsupports the continued development ofgeothermal energy.The stimulus bill extends the PTC deadline through 2013and also gives the option to forego the PTC for a 30% ITCthrough 2010. In addition, there is an option to receive acash grant for 30% of the project cost in place of thesetax credits.Renewable Portfolio Standards (RPS) promoteregional demand for geothermal power in theUnited States.Twenty-six states and the District of Columbia recognizegeothermal electric as eligible for RPS. California, Nevada,and Hawaii have a particularly high geothermal potential.Despite challenging economic conditions,public and regulatory support foralternative energy development remainsrobust.– Tracy McKibben, Managing Director, EnvironmentalBanking Strategy, CitigroupConclusionsDespite their acknowledgment that the industrywould experience a temporary low-growth periodduring the economic downturn, the presentersconveyed a positive outlook for the long termgrowth of the geothermal thermal industry. Asthe technology improves, geothermal powerplants will be brought to new regions and thecosts of constructing and operating new plantswill be driven down. Aided by strong governmentand private sector backing, the technology’sshare in global power production will continue toincrease, providing thousands of new jobs andclean, cost-effective power.Session ReferencesC4 - Geothermal PowerPaul Thomsen, Director for Policy and Business Development, Ormat Technologies, Inc. (Chair)Edward James Wall, Geothermal Technologies Program Manager, Department of Energy [slides]Dita Bronicki, CEO, Ormat Technologies, Inc. [slides]Jeff Eckel, President & CEO, Hannon Armstrong Capital [slides]Paul Bony, Director of Residential Market Development, ClimateMaster [slides]Tracy McKibben, Managing Director, Environmental Banking Strategy, Citigroup Global Markets [slides]American Council On Renewable EnergyExecutive Summary Report 26
Green Buildings and CommunitiesOverviewA green building is not only an investment in theenvironment, it is also an investment in futuregenerations. Green buildings use less energy,water, and other resources which will in turnsave money over the lifetime of the building.These buildings facilitate a healthy, safeenvironment in which to work and live. A greencommunity employs a large group of people, andmultiple buildings create a cohesive unit thatdrives conservation, efficiency, and energygeneration from renewable sources. Throughthese buildings and communities, individualscan develop and exemplify green lifestylechoices. It is through a combination of environmentally-consciousbehavior and greeninfrastructure that a truly sustainable world canbe achieved.ConsensusA consensus was reached among the speakersthat children must be taught that the environmentis in grave danger of irreversible damagefrom increasing greenhouse gas emissions,leading to climate change. The younger generationwill only inherit a better world if action istaken now. Therefore, a child’s education mustinclude a deep understanding of energyconservation, energy efficiency, and renewableenergy. Green buildings and communities giveindividuals and groups the opportunity to leadby example.EducationThe United States has a responsibility to providestudents with an education that enables them tobe successful in green careers.The stimulus bill will allocate $122 billionover the next two years to renewable energygrowth and energy efficiency reforms. Of thattotal, $22 billion will go specifically toconstruction bonds for schools. It is imperativethat these funds be used for more than routinemaintenance and new to-code construction. Thefunds should support energy efficiency andconservation measures as well as newrenewable energy systems. Jerome Ringo,President, Apollo Alliance said that, “thestimulus package will not fix this country; it isjust a down payment… We can—and will [solvethe climate crisis]—and the change begins in ourcities… There must now be a level ofaccountability in our cities to invest in greeneducation and employment programs in areasonable and controlled manner.”Education about the environment starts athome.There is much to both learn and teach children about theenvironment, and this education needs to begin at home.There are lifestyle choices that must be addressedbetween the children and their parents, such that thefamily is living in environmentally-friendly home and in asustainable fashion. Community and school developmentis secondary to a sustainable, healthy lifestyle at home.However, that is not to say that green schools are not apriority; in fact, students should be encouraged to bringhome the environmental lessons being taught at school—things such as starting a compost pile or changing tolighting with compact fluorescent bulbs.Awareness about environmental and energyissues needs to be ubiquitous.American Council On Renewable EnergyExecutive Summary Report 27
Page 6: The highlights of WIREC 2008 includ
Page 9 and 10: EVENT SPONSORSHosted byBadge Sponso
Page 11 and 12: EXHIBITORS ContinuedKamatics Corp.K
Page 13 and 14: The ARRA contains the following ite
Page 15 and 16: “How do we organize ourselves to
Page 17 and 18: John GeesmanFormer Commissioner, Ca
Page 19 and 20: Cathy ZoiCEO, Alliance for Climate
Page 21 and 22: John CavalierManaging Partner, Huds
Page 23 and 24: BiofuelsChristopher Groobey, Partne
Page 25 and 26: Patrick Cloney, Executive Director,
Page 27 and 28: Gal Luft, Executive Director, Insti
Page 29 and 30: Daniel Kammen, Class of 1935 Distin
Page 31 and 32: Biomass, Biofuels, and Advanced Veh
Page 33 and 34: Critical development opportunities
Page 35 and 36: ConclusionsSpeakers at RETECH 2009
Page 37: Geothermal PowerOverviewThe United
Page 41 and 42: Green construction and renovation s
Page 43 and 44: Session ReferencesGreen Schools Bre
Page 45 and 46: 1. The local electric power market
Page 47 and 48: International Renewable Energy Indu
Page 49 and 50: production was 37%; the domestic tu
Page 51 and 52: There have been a number of incenti
Page 53 and 54: educes mortality and improves gende
Page 55 and 56: D7 - ChinaJing Su, Director of US-C
Page 57 and 58: past, uncertain legislative environ
Page 59 and 60: marketplace, accelerating and deepe
Page 61 and 62: • Complexity and operating costs
Page 63 and 64: C6 - Environmental and Carbon Finan
Page 65 and 66: The technology debate: thin film ve
Page 67 and 68: FITs have grown in popularity over
Page 69 and 70: Haroula Reitz, Global Manager of Sc
Page 71 and 72: Currently, planning is geographical
Page 73 and 74: Federal policy should allow for a c
Page 75 and 76: Wind: Markets, Technologies, and Po
Page 77 and 78: Regional FactorsBesides federal pol

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