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WASHINGTON, DC, May 27, 2003 - ICF Consulting predicts that renewable generation capacity—long requiring steep government subsidies—will soon be competitive in some U.S. markets. As high natural gas prices and impending multi-pollutant legislation layer additional costs onto conventional fossil-fired power, the prospects for renewable energy grow. To answer questions about this evolving market, ICF Consulting announces today the release of its 2003 U.S. Renewable Energy Market Outlook.
"Dramatic technological advancement and the increase
in wholesale power prices makes the outlook for new renewable
generation very favorable," states Nate Collamer, Principal
at ICF Consulting and author of the study. He continues, "We
find that in the near to midterm, the presence of Renewable
Portfolio Standards (RPS), together with large-scale green
power purchases, are the dominant forces behind renewable
capacity additions. Over the longer term—under likely
multi-pollutant regulations such as the Bush Administration's
Clear Skies Act—significant additional wind capacity
will come on-line because the price of wind power is projected
to be competitive with that of gas and coal-fired generation.
Biomass and geothermal resources also will play significant,
site-specific roles."
The new study, which utilizes ICF Consulting's Integrated
Planning Model (IPM®), represents a landmark projection
of future Renewable Energy Credit (REC) prices in key renewable
markets throughout the United States. It combines the current
patchwork of individual State RPS, projecting capacity additions
and REC prices for each market. In addition, it analyzes the
impacts of a National RPS, technological advancements, and
long-term gas market trends.
Since the 1980s, ICF Consulting has forecasted accurately
emission allowance market trends. For the first time, ICF
Consulting is now applying this analytical and market expertise
to renewable markets. This study will prove invaluable for
renewable energy developers, green power providers, electric
utilities, state regulators, and other market participants
interested in understanding the outlook for renewable energy
markets.
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ICF International (Nasdaq: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, environment, transportation, social programs, defense, and homeland security markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 1,800 employees serve these clients worldwide. ICF’s Web site is http://www.icfi.com.
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For Immediate Release
Contact: Douglas Beck
1.703.934.3820
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