LANSING – Larry Ward, executive director of the Michigan Conservative Energy Forum (MCEF), issued the following statement regarding annual renewable energy and energy waste reduction reports released this week by the Michigan Public Service Commission:
“The reports by the Michigan Public Service Commission prove that renewable energy is competitive in Michigan and helps attract billions of dollars in investment, creating jobs across the state. Thanks to bipartisan, comprehensive energy policy signed into law in 2016, we can expect further growth in Michigan’s clean energy sector and increased investments in energy efficiency, which will keep Michigan competitive and secure affordable and reliable energy for ratepayers.”
Key findings of the report include:
· Savings of $4.29 for every $1 spent on energy efficiency programs.
· Michigan has seen $3.3 billion of investment for renewable energy projects since the 2008 passage of Public Act 295. These investments have resulted in the addition of 1,670 megawatts through 2017.
· Average costs for renewable energy contracts are cheaper than coal, with just $72.60 per megawatt hour for renewable energy, compared to $133 per megawatt hour for coal.
About MCEF: The Michigan Conservative Energy Forum is an organization comprised of conservatives who believe that Michigan should adopt a true “All of the Above” energy policy that includes an increase in our commitment to renewable energy and energy efficiency. MCEF believes encouraging diverse and clean energy production and reduced energy waste will create jobs and stimulate Michigan’s economy, reduce our reliance on foreign energy, improve our national security, and protect our valuable natural resources. http://www.micef.org/