Governor Mitt Romney filed landmark legislation last week that will require Massachusetts to purchase a minimum amount of renewable energy, in the hopes of luring new industry to provide competitive markets for energy.
Energy efficiency has long been a political issue, especially with the continuing depletion of natural sources of energy such as fossil fuels and petroleum. Environmental organizations, such as Boston University’s Environmental Student Organization (ESO), have pushed governments to buy renewable, recyclable energy.
‘Governor Romney decided on this legislation because he believes in renewable energy and its industry,’ said Karen Grant, Romney’s deputy press secretary.
Keyspan Energy Delivery, energy provider for the BU area, relies mainly on natural gases. Seventy to 90 percent of natural gas consists of methane, and unlike coal and oil sources it does not emit as many dangerous toxins such as sulfur dioxides, nitrogen oxides, carbon dioxide and carbon monoxide when burned.
Although natural gas is better for the environment than burning fossil fuels and oil, renewable energy is actually safer for the environment. Also, ‘renewable energy will never run out as opposed to oil, gas and fossil fuels,’ according to Aaron Michel, University Professors Program senior and former president of ESO.
The renewable energy sources include ‘solar energy, wind power, biomass and fuel cells,’ Grant said. Other sources include ocean thermal, wave or tidal energy, natural flowing water and hydroelectric dams. These new sources are necessary because the older methods of providing energy, such as coal, fossil fuels and gas, are depleting, Grant said.
The Massachusetts Renewable Energy Trust Fund of 1997 (RETF) is funding this renewable energy program primarily from a monthly surcharge to Massachusetts electricity customers. According to the Massachusetts Electric Company’s website, ‘an estimated $150 million will be available through 2003 for a wide variety of renewable energy technologies, with approximately $20 million available annually after 2003.’
Romney also commenced a $15 million Green Energy Fund, part of the RETF, earlier this year. The Green Energy Fund will provide equity capital, loans and management assistance to new renewable energy businesses.
‘Romney supports the Renewable Energy Trust [Fund] completely,’ Grant said.
The governor also promised an additional $9 million in project financing out of the trust for clean energy companies. This will introduce a projected 450 new jobs in Massachusetts.
‘This plan is cohesive and comprehensive,’ Michel said. ‘It is great to see that Romney is long-term planning.’
The program has already begun with grants being awarded to cities and towns across the state. And with the additional funding the RETF hopes to meet its goal of ‘attracting renewable companies to locate here and existing businesses to expand.’
The new legislation will ‘allow Massachusetts to have a robust economy,’ Michel said. New jobs in the making and the state’s monetary encouragement to renewable energy companies and entrepreneurs will initiate long term investments to boost the state’s economy.
With the state’s regulation, Massachusetts will have ‘competitive prices with fossil fuels and other forms of energy,’ Michel said.
Conversely, there have been cases where renewable energy methods have failed and hurt the environment. For example, dams have provided a new source of energy for many states and countries. The largest hydropower project in the world, China’s Three Gorges Dam, to be finished in 2009, has already brought a great amount of energy but permanently damaged the Yangtze River’s delicate ecosystem.
‘Some environments need periodic flooding. With a dam in place certain fish are not able to breed; therefore depleting its population,’ Michel said.
Yet, ‘this legislation is a win-win situation,’ he added.
Massachusetts has made the largest commitment to buying green energy in comparison to other states, Grant said.
‘Romney hopes other states will follow suit,’ he said.
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