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W W W. M A I N E B I Z . B I Z 9 F E B R UA R Y 2 4 , 2 0 2 5 F O C U S Eaton Peabody's Energy Industry Group combines the resources of a multi-disciplinary team of professionals to address our clients' diverse business needs in the State of Maine. Our Energy attorneys represent a broad range of clients including grid operators, commercial and industrial energy consumers, financial institutions, independent power producers, municipalities, and utility companies. Our experience in in energy law extends to the development, financing, construction, operation, acquisition, and legislative lobbying aspects of electric power, as well as to the production, sale, purchase, distribution and transportation of natural gas, and related financing, legislation, litigation, and regulation. Eaton Peabody's Energy Industry Group welcomes the opportunity to discuss your energy project or business and community needs, and how we may be of service. Augusta | Bangor | Portland 1-800-564-0111 | eatonpeabody.com Identifying Energy Solutions E N E R GY / E N V I R O N M E N T When it comes to renewable energy sources, Maine has a fair number of options and an abundance of potential. Solar, wind and hydro power are all in various states of development. As reported elsewhere in this issue, an effort to develop tidal power is underway. RENEWABLE ENERGY Key takeaways from the 2024 Congressional Renewable Energy and Energy Efficiency Expo: Wind energy has grown from 9 gigawatts two decades ago to over 150 gigawatts today. Wind is one of the lowest-cost sources of electricity supply. Hydropower can be turned on and off, which means it offers dispatchable power to meet demand when other renewables cannot. Hydrogen can contribute to decarbonizing hard-to-abate sectors like heavy-duty transport and industry. Solar energy is abundant and accessible. The U.S. recently surpassed 5 million solar installations and the sector supports approximately 230,000 jobs. Geothermal energy is a longstanding, zero-carbon power source. The U.S. currently has about 4 gigawatts of geothermal generation, and advanced drilling techniques are opening up broader opportunities S O U R C E : Environmental and Energy Study Institute POWER OF MARINE ENERGY According to the Marine Energy Council of the National Hydropower Association, a U.S. national trade group dedicated to promoting technologies and related services to harness clean, renewable power from significant untapped marine energy resources: Marine energy technologies are undergoing rapid innovation in the U.S. Globally available marine energy resources are vast, reliable, predictable and environmentally friendly. The International Energy Agency predicts that by 2050 over 300 gigawatts of marine energy capacity will be installed globally, resulting in: $35 billion of investment 680,000 direct jobs created Reduction of 500 million tons of CO2 emissions each year Services related to deployment of marine energy technologies — including resource assessments, project feasibility studies, and site selection studies — can be a significant source of economic activity and revenue for U.S. companies S O U R C E : National Hydropower Association's Marine Energy Council MAINE'S POTENTIAL FOR MARINE ENERGY, BY RESOURCE S O U R C E : National Hydropower Association's Marine Energy Council Wave energy Tidal energy Ocean current energy Riverine hydrokinetic energy Ocean thermal energy conversion