Renewable Energy Outlook
View GE Energy Financial Services' presentation on the "Renewable Energy Outlook," featured at the Virginia Governor's Conference on Energy. Learn more about what the future holds for the renewable energy market and GE's leadership in it.
GE Energy Financial Services is a Leading Renewable Energy Investor
GE is a leading energy investor, with a diverse footprint that includes renewable energy generation, thermal power generation, transmission and distribution, midstream oil and gas and oil and gas reserves. GE Energy Financial Services has 300 energy investments totaling $21 billion. Its $6 billion renewable energy portfolio is dominated by wind energy.
Among the dozens of wind farms in which GE Energy Financial Services has invested is Idaho's largest wind farm, located 10 miles from the Oregon Trail where American pioneers pushed westward across the continent. The 183-megawatt, 122-turbine project comprises 11 wind farms, spread across 10,000 acres of active and inactive farmland in southern Idaho's Magic Valley. The valley was a predominant migration route as part of the Oregon Trail in the 19th century, and is becoming a critical renewable energy corridor in the 21st century. It will produce enough power for 39,700 average Idaho homes and according to US Environmental Protection Agency methodology avoid 331,000 short tons a year in greenhouse gas emissions. That's the equivalent of taking about 57,000 cars off the road.
Wind Energy: Fastest Growing Renewable Market
Although renewable energy generation makes up a small portion of overall power supply, it has experienced tremendous growth. With a compound annual growth rate of over 40 percent between 2005 and 2009, wind energy is the fastest-growing renewable technology industry in the United States. And, although hydro energy still reigns supreme in the renewable energy market, its growth has slowed.
Improvements in technology and government policy support are among the factors that have driven the growth of wind energy. US state renewable portfolio standards require increased production of energy from renewable sources.
Challenges Ahead
As renewable energy continues to expand, environmental and financial barriers have emerged:
- Low gas/power prices and demand
- Low gas/power prices and demand
- Weak economy
- Expiring government incentive programs
- Environmental (wildlife) challenges
GE Energy Financial Services' Customized Solutions
GE Energy Financial Services partners with renewable energy companies to structure transactions that make sense for all stakeholders. GE allows developers to maintain investment flexibility and operational control, while providing equity and technical expertise. With its experience, industrial connection and heritage and reputation, GE can help wind project developers succeed.
What's Next in the Renewable Energy Market?
Learn more about what the future holds for the renewable energy market and GE's leadership. View GE Energy Financial Services' "Renewable Energy Outlook," featured at the Virginia Governor's Conference on Energy.