This document discusses the growth of renewable energy, particularly wind and solar power, in Minnesota from 1999-2012 and projections out to 2022. It notes that locally owned renewable energy could have a total economic impact of $20 billion and return on investment of 10-11%. Charts show rising electricity prices but falling costs of solar that may make it cheaper than utility prices for millions of homes and businesses within 10 years. A map shows the potential for distributed solar across Minnesota counties to meet 1-10% or more of retail electric sales by 2022.
15. Rapidly Rising Average Retail Electricity Prices in Minnesota
12¢
9¢
6¢
3¢
0¢
2000
Residential (c/kWh)
Commercial (c/kWh)
Industrial (c/kWh)
2002
2004
¢ per kilowatt-hour
2006
2008
2010
2012
16. Projected Average Cost of Solar in Minnesota
$0.18
$0.14
$0.09
$0.05
Average Solar Electricity Cost
Average Solar Cost with Federal Tax Credit
Residential Retail Electricity Price
Commercial Retail Electricity Price
$0.00
2014
2016
2018
2020
2022
2024
17.
18. Within 10 years
Solar Could Power Millions of Homes and Businesses
...at a lower price than
electricity from the utility
38 million
21 million
3 million
2012
2017
2022
19. Distributed Solar Potential at Parity with Utility Prices
(megawatts of residential and commercial solar)
360
1200
2600
1100
800
2400
26,000
1400
7300
580
1800
4100
5000
32,000
590
750
700
20
4400
7200
970
2300
4800
2022
1140
11,000
2900
12,000
780
11,000 72001800
5500 10,000
5100
11,000
19008200
6800
3600
12,000
11,000
2800
7000
7100
5100 8500 16,000
Percent of Sales
1-5%
5-10%
10% or more
4000
30,000
990
20.
21.
22.
23.
24. If God had wanted us to
live sustainably, she’d
have given us brains