Voices from the New Energy Economy: Real People, Real Jobs, Right Now

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1 Voices from the New Energy Economy: Real People, Real Jobs, Right Now Nicole Lederer Paul Zorner John Cheney Stephen L. Cowell Tony Lent September 16, 2008

strategic environmental policy Proven track record with state and federal policy makers Our Mission To be the

2 The Independent Business Voice for the Environment The Organization Founded in 2000: now 850 members in 27 states THE MOVEMENT: A nationwide membership-based community of non-partisan business leaders to promote strategic environmental policy Proven track record with state and federal policy makers Our Mission To be the independent business voice for the environment Champion on the economic side for good environmental policy Deliver results

3 Cleantech Investment and Job Creation US cleantech venture investment totaled $3.58 billion in 2007 (source: Cleantech Group) Every $100 million in venture investment generates an average of 2,700 new direct jobs (source: E2) and US cleantech investment estimated at $14-19B between 2007 and 2010, resulting in 400,000 to 500,000 new jobs (source: Cleantech Group and E2) Public policy is a significant driver of cleantech investment and jobs worldwide States with renewable energy standards are attracting investment in major alternative energy installations, job creation US: Federal Renewable Fuels Standard (RFS) responsible for est. 23,000 direct biofuels jobs since 2005 (source: Cleantech Group) California attracts around 40% of global cleantech venture capital investments Copyright 2008, Cleantech Group, All rights reserved -3-

introduction: 98% CAGR (05-07) Source: Cleantech Group

4 California cleantech investments AB 32 passed Pre-AB32 introduction: 20% CAGR (02-04) AB 32 introduced Post-AB32 introduction: 98% CAGR (05-07) Source: Cleantech Group (cleantech.com) Copyright 2008, Cleantech Group, All rights reserved -4-

5 Paul S. Zorner, Ph.D. President and CEO Hawai`i BioEnergy - Renewable Bio-fuels for the State of Hawai i

6 Our Costly Dependence on Oil US oil consumption is more than 20mbd Of all US states, Hawaii is the most dependent on and vulnerable to oil imports 95% of energy consumption in HI is from imported fossil fuels Economic Impact: 4-Week Average U.S. Petroleum Products Product Supplied (Thousands bdp) Hawaii imported 17m barrels of oil in the first half of 2008 to feed our power and transport sectors In doing so, we sent more that $1.7 billion out of HI that s more than $6,500 leaving our state every minute ($9.4 million per day) /7/00 5/21/01 10/3/02 2/15/04 6/29/05 11/11/06 3/25/08

7 HBE Partnership Assets and Mission Assets 431,000 acres across several islands Over $20 billion managed in different financial sectors Mission focused Technology driven Commitment to revitalizing agricultural base Local business, local growth, local self-sufficiency

8 Hawai`i BioEnergy Plan of Action: Blend the resources of several major landowners to support energy independence for Hawaii Solar, wind, biomass Establish agriculture as a major source of food, fuel and supply chain security Create the nucleus of a green economy Energy, biomaterials, chemical intermediates, food and feed Create job and career opportunities for Hawaii s citizens Reduce Hawaii s carbon footprint

9 Harvesting Renewable Energy Creates Jobs and Keeps $$ in Local Communities

10 Funding Solar, Wind, Biomass and Biofuel John Cheney Vice President of Sales and Business Development MMA Renewable Ventures

11 MMA Renewable Ventures Company Overview Funding Solar, Wind, Biomass, Biofuel MuniMae is a publicly traded finance company that arranges debt and equity financing for real estate and clean energy investments: Emphasis on tax credit investment financing $20 billion in assets under management MMA Renewable Ventures, acquired by MMA in 2006, is a leading source of renewable energy - energy efficiency implementation and financing: Pipeline of more than $1 Billion of clean energy investments Growing Sales: $10MM (2006); $250MM (2007) and $ MM (2008)* (depending on ITC Policy adoption)* The solar industry has a world wide growth rate of 30-50% per year to an cumulated installed base of 90 GW industry by

12 MMA RV Investments Mirror State Renewables Policies MMA RV only has projects in nine States: TX, OH, CT, CA, NJ, FL, NV, CO, AZ Tier 1 Highest immediate potential Tier 2 Strong near-term potential Tier 3 Promising in next 2-4 years 12

13 The Link Between Growth and Policy CURRENT DEVELOPMENT OF SOLAR FARMS - (multi Giga Watt) farms are driving down technology costs of solar to competitive levels for Utility Grid Power. Commercial solar roof top installations - will thrive with costs driven lower by Solar Farms benefitting all states. MMA RV TRACK RECORD FOR JOB CREATION - more than 1500 high quality jobs* per $100 Million investment (*US Dept of Treasury New Market Tax Credit Award 2008). Our $1 Billion pipeline is on hold pending ITC renewal, jeopardizing up to 15,000 jobs. PUBLIC POLICIES DRIVE INVESTMENT IN RENEWABLES Stability of and access to Federal Investment Tax Credits are key. Also, state s Individual RPS standards with State Rebates, or a national RPS standard (without hindering State RPS progress) 13

14 14 Nellis Air Force Base

15 Stephen L. Cowell Chief Executive Officer and Chairman Conservation Services Group Leading the Way in Energy Efficiency and Renewable Energy

16 CSG Operations: Mass. 173 staff currently New England Residential Programs and Renewable Energy Programs Primary Clients: National Grid, NSTAR Gas & NSTAR Electric

17 Energy Efficiency Impact Benefits to Massachusetts Current Expenditures: $120 million # of jobs: 2,000 (direct jobs) Cost of Saved Energy: 3.4 cents/kwh Cost of Power Generation: 7 cents/kwh Consumer Savings: $150 million Green Communities Act (2008): Double Efficiency Spending

Drivers for Economic Development CSG growth is driven 100% by public policy initiativeslegislative and regulatory Investment in Energy Efficiency

18 Drivers for Economic Development CSG growth is driven 100% by public policy initiativeslegislative and regulatory Investment in Energy Efficiency as a replacement for power and fossil fuel sources is the key followed by codes and tax policy States have taken the lead Will Washington DC Follow?

19 Tony Lent Managing Director Investing in Renewable Power, Biofuels and Clean Technology Infrastructure

20 US Renewables Group - Investment Universe USRG is a $595 million private equity investment fund providing equity for clean energy assets. A typical USRG investment is $50 million. Renewable Power Infrastructure Renewable Fuels Geothermal Solar Thermal Biomass Waste to Energy Wind Tanks Pipelines Transmission Rigs Industrial Efficiency Carbon Capture & Storage Sequestration Ethanol Biodiesel 2 nd Generation Biofuels Energy Crops Carbon & Efficiency

2007 Investment in Clean Energy $148 Billion; Growth Rate Per Year, 2005-2007 2007 Growth in clean energy investment in the US is

21 2007 Investment in Clean Energy $148 Billion; Growth Rate Per Year, Growth in clean energy investment in the US is strong. However, the flow of capital is mainly to regions which have stronger renewables and carbon incentives. Source: New Energy Finance

Carbon-linked Asset Investment is Poised for Rapid Expansion Global Carbon Funds Assets ($Billion) 67% Growth Rate Carbon investment is poised to grow 5-10X in the next

22 Carbon-linked Asset Investment is Poised for Rapid Expansion Global Carbon Funds Assets ($Billion) 67% Growth Rate Carbon investment is poised to grow 5-10X in the next seven years. It will be increasingly focused on clean energy assets. This investment will flow towards countries with carbon markets. Source: World Bank UNFCC; New Energy Finance

23 Voices from the New Energy Economy: Real People, Real Jobs, Right Now Download today s presentation at: For more information about E2, please contact: Christine Luong, E2 Program Manager; ; cluong@nrdc.org

Generating New Funding for Renewable Energy

Generating New Funding for Renewable Energy Monday, April 26, 2010; 9:30 10:45 AM Moderator: Paul Deninger, Vice Chairman, Jefferies & Company Speakers: Rex Northen, Executive Director, Cleantech Open