WHY SOLAR?

Clean the Air, Fight Global Warming
Global warming is the greatest environmental threat facing the planet today. The evidence is in and the debate about whether it is happening is over. As just one piece of evidence, Frank Nutter, President of the Reinsurance Association of America, recently was quoted saying that because of the high property losses due to extreme weather during the past two decades, climate change "could bankrupt the industry."

(Source: Northwest Council on Climate Change)

So how do we fight this problem? The single largest contributor to global warming is pollution from energy generation. We cannot reverse global warming without a transition to renewable energy.

(Source: EPA)

Everyone agrees that renewable energy could clean the air, stave off global warming, and help eliminate our nation's dependence on fossil fuels from overseas. Is it just a dream? Not anymore. Not when we can find ways to make renewable energy pay for itself.

Invest in Energy Independence, Increase Energy Security
Investing in solar power increases our nation's energy independence and energy security. California's energy crisis was just the latest in a long cycle of price fluctuations. The energy market will always be volatile, particularly since the fossil fuels that power it come from abroad and will eventually dry up completely. Ultimately, the best way for cities to reduce their vulnerability to unstable energy markets is to produce more of their own electricity sustainably with substantial investments in solar and other renewable sources.

Moreover, renewables offer a smart way to create a diverse energy portfolio. Limited sources of energy make consumers more vulnerable to unpredictable price fluctuations. Just as a smart investor invests in a diverse range of stocks, it is prudent for cities to have an energy portfolio that includes a range of generation technologies.

Increase Local Power
One of solar energy's great advantages is that it allows electricity to be produced in the place where it is consumed, a practice known as distributed generation. Since sunlight hours overlap nicely with peak demand, solar panels produce electricity when it is both most expensive and most needed. Given that peak demand drives the production of new power plants, reducing peak load through large-scale solar generation can improve air quality both by generating electricity without pollution and by making additional peaker power plants unnecessary. Distributed generation networks can play a critical relief role if power plants and transmission lines are damaged during natural disasters, acts of vandalism or terrorism or other grid failure.

The Solar Industry, a glowing light in a dim economy
Solar energy is a growing technology with tremendous promise, as the photovoltaic industry's annual growth rate suggests.

(source: Powerlight)

The cost of solar energy, which has gone down 71% since 1980, will continue to drop as demand increases and more production capability comes on line. Solar revenue bonds can play a critical role in helping push the cost of this clean technology down by significantly increasing demand and encouraging investment in new manufacturing and assembly facilities.

(source: Powerlight)

Just as the government's initial investment in the silicon chip led to the boom of the computer industry, an investment in solar revenue bonds by local governments now would create an energy supply boom that would benefit the environment, increase our energy independence and create new jobs. The bottom line is simple: the more investment there is in solar technology, the more benefits there will be for society and the more affordable solar energy becomes for everyone.

Create Jobs, Save Money
Renewable energy technologies create jobs and generate income. A number of recent state and national studies have found positive net job impacts from increasing renewable energy use. For every million dollars invested in solar electricity, between 5 and 15 jobs are created. For every million dollars invested in oil and gas exploration, only 1.5 jobs are created.

Finally, renewable energy offers a cost-saving alternative to fossil fuel plants that create neighborhood eyesores, foul the air and can increase health care costs.

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The solar electric market is $3 billion today, but is expected to grow to over $10 billion by 2010.