Energy Efficiency prospects: What to watchEnergy Efficiency Markets, February 6, 2013
Events unfolding in two US Northeast states – New York and Massachusetts – signal increased business opportunity for energy efficiency companies, green architects, lighting contractors, smart grid innovators and others in the business of saving energy.
First, the energy efficiency world should keep an eye on debate over the possible shutdown of the Indian Point nuclear power plant in New York.
New York regulators recently tasked Consolidated Edison, New York City’s utility, with figuring out how to make up for the loss of the 2,040 MW Indian Point. Federal licenses for the plant expire by the end of 2015. And while the plant seeks relicensing, it faces some potent opposition. So the state wants to be prepared.
In nearby Massachusetts, a major efficiency undertaking also is in the works. State regulators approved the final details of the 2013-2015 utility plans last week that call for $2.01 billion in energy efficiency programs. This keeps Massachusetts in the top spot nationally for energy efficiency investment per capita. The utilities expect the plans to save 3.7 million MWh of electricity, enough to power more than 500,000 households for one year, and deliver $8.9 billion in economic benefits.