Worcester Business Journal Special Editions

Economic Forecast 2015

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18 2015 Economic Forecast www.wbjournal.com Worcester Business Journal energy New Book Now Available! e new book— Build Your A-Game — Be Seen – Be Heard – Be Remembered is now an Amazon best seller. Order yours today! B u y i t n o w a t : www.buildyourAgame.com As seen on; Boston.com, Wall Street Journal Select, Miami Herald, Worth Magazine, ABC, CBS, NBC, FOX. BBB.org attracted 100 million unique visitors last year... C onsumers are overwhelmed with choices these days, and often unsure about where to find reliable, unbiased information on who they should do business with. That's why the BBB web site is the trusted source for millions of consumers looking for trustworthy vendors and charities. BBB provides consumers with confidence in their choices, and businesses pride in their hard won status. The BBB Torch stands for a deep commitment to fairness and honesty. If that's what you stand for, put the power of BBB to work for your business by applying for membership today! With accreditation comes Trust…. And with Trust comes customers IS YOUR BUSINESS BBB ACCREDITED? Call us today at 508-552-0366 BBB.org Serving Central & Western MA and Northeast CT is the energy mix shifting? Protection Agency is expected to issue final guidelines for the Clean Power Plan, which will, for the first time, cap carbon emissions from coal plants. Environmentalists say that's long overdue, but the mea- sure has drawn the ire of the coal industry. After the plan was released in June, the American Coal Council issued a statement calling the EPA proposal "another unfortunate chapter in the push to restrict the use of coal in America," and said the rule will have serious negative impacts on economic and social conditions. The EPA is working with stakeholders ahead of releasing final guidelines for state-by-state compliance, with the goal of cutting 2005 carbon emission levels 30 percent by 2030. Coal plants face costly upgrades to comply with regulations, and those costs will likely be passed on to customers. That, in turn, may encourage wider adoption of clean energy. New energy leadership One of Governor-elect Charlie Baker's first administrative appointments was Rep. Matthew Beaton, a Shrewsbury Republican and ener- gy efficiency consultant. He will become secretary of Energy and Environmental Affairs, and both he and Baker are expected to continue the quest toward expanded clean energy adoption after Gov. Deval Patrick's administration made a lasting impact in that arena, said Peter Rothstein, president of the New England Clean Energy Council. Rothstein said Massachusetts, a leader in the use of clean energy, is only about 15 percent of the way through a transition from a fossil-fuel based energy system to one based primarily on "clean" sources such as hydro, solar and wind power. Rothstein said Patrick recognized how to make progress through state pro- grams and legislation, and that Baker and Beaton now have the opportunity to set policies that diversify clean energy and make it more effective and more affordable. "I think (the Baker administration) will look at clean energy as part of maturing system and encour- age competitive innovation … I think they really get that," Rothstein said. Modernizing the grid There's a major push at the state and fed- eral levels to modernize the U.S. energy grid, as experts warn that the grid's current infra- structure is vulnerable to natural disasters and ter- rorism. The dated technology employed by much of the grid system makes it difficult to restore power when there's an outage, and hampers its reliability. The private sector is gradually implementing "smart grid" technology, including computer-based remote control and automation systems, and government efforts to aid that process are in play. Meanwhile, the U.S. Department of Energy is part- nering with industry stakeholders to identify research and development opportunities, while the Massachusetts Department of Public Utilities has ordered large energy providers to submit 10-year grid modernization plans. While total modernization is likely still years away, there will be continued emphasis to meet that goal. n Petroleum '03 '07 '11 0 5 10 15 20 25 7,549 3,052 196 Coal '03 '07 '11 0 5 10 15 20 25 10,896 12,024 4,058 Nuclear '03 '07 '11 0 5 10 15 20 25 4,978 5,120 5,058 Hydroelectric '03 '07 '11 0 5 10 15 20 25 1,075 797 709 Solar 4 '03 '07 '11 Wind 61 '03 '07 '11 Natural gas '03 '07 '11 0 5 10 15 20 25 25,939 22,424 24,925 Electricity generated by source, in gigawatt hours (GWH) Shift in Massachusetts energy mix Between 2003 and 2011, natural gas became an even more dominant source of power generation. Source: EnergyTrends.org >> Continued from Page 17 4 5

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