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Mass
Insight Corporation Science & Technology Newsletter |
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| RESOURCES
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Presentations
from the June 28 R&D Breakfast Briefing at TIAX:
The
Alternative Energy Agenda
Michael
Bevan, Partner, Energy Technology Group, Advent International
The
Alternative Energy Agenda: How Viable an Alternative
This Time Around?
John Collins, President, TIAX
LLC
Fuel
Cells to Market: Technological and Other Challenges
Ravi Datta, Director, Fuel Cell
Center, Worcester Polytechnic Institute
Clean
Energy: A Growing Opportunity for Massachusetts Business
Robert L. Pratt, Director, Massachusetts
Renewable Energy Trust
Alternative
Energy: The National Agenda and Massachusetts Opportunities
Steven Taub, Research Director,
Cambridge Energy Research Associates (CERA), Emerging
Generation Technologies Advisory Service
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| UPDATES |
| On July 7th, the University of Massachusetts Amherst received a five-year, $3.1 million grant from the National Science Foundation to train experts in nanotechnology.
The grant will give students an interdisciplinary background in nanotechnology in addition to a Ph.D. in their home discipline. A partnership with the university's Isenberg School of Management will help students develop plans to commercialize the technology under the tutelage of advisors from both academia and industry.
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BRIEFING SERIES & eNEWSLETTER |
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R&D Breakfast Briefings
Our next briefing is scheduled for September 2005.
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| ABOUT
THE SCIENCE & TECHNOLOGY INITIATIVE |
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The
Science & Technology Initiative’s mission
is to create a state policy to facilitate and support
major science and technology education and research
initiatives that improve Massachusetts’ competitive
position and enhance its economic strength. For
more information on the Initiative, click here.
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| ABOUT MASS INSIGHT |
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Mass Insight Corporation is a public policy research and economic development business consulting firm that seeks to keep Massachusetts and its businesses and institutions globally competitive. Through client and leadership networks, the firm shapes public-private dialogues and delivers policy results on issues where state actions and investments affect profitability, growth and new jobs.
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| LEAD
STORY
The
New Economics of Alternative Energy
TIAX CEO John Collins, who hosted
Mass Insight's R&D Strategic Alliances Breakfast on
June 28, set the stage by saying a combination of
high gas prices, the desire to reduce reliance on
foreign oil and improved economics are combining to
make the time right for increased use of renewable
energy.
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Phil Sharp
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What follows are highlights from presentations by
former Indiana Congressman Phil Sharp,
who currently directs the Institute of Politics at
Harvard University's Kennedy School of Government
and was the keynote speaker; Rob Pratt,
director of the Massachusetts Renewable Energy Trust;
Michael Bevan of Advent International,
a private equity firm; Steven Taub
of Cambridge Energy Research Associates; and Ravi
Datti, professor of chemical engineering
at Worcester Polytechnic Institute.
PRESENTATION
HIGHLIGHTS
Government Playing a Bigger Role in the Energy Marketplace
State
Governments
- 19 states now have Renewable Portfolio Standards
that require electric companies to generate a
certain portion of their electricity from renewable
energy sources.
- Massachusetts is one of 15 states that have
funds like the Renewable Energy Trust that are
dedicated to renewable energy.
- In Massachusetts, the Trust has invested a total
of $120 million in more than 350 projects.
Federal Government
- More government intervention could be coming
in the form of major energy legislation, which
Sharp expects will pass this year.
- A compromise was recently reached requiring
oil companies to use a set percentage of ethanol
in gasoline production.
- 54 senators — including several Republicans
— recently signed a resolution supporting
carbon dioxide controls.
Renewable
Energy Moving from Environmental to Economic Choice
- A sharp increase in oil prices combined with
steady decreases in renewable energy costs mean
that fossil fuels no longer have a clear cost
advantage.
- Low interest rates have created an attractive
environment for renewable energy sources that
require large capital investments.
- Venture capital investment in clean energy jumped
from $300 million to $2 billion between 1995 and
1999.
- Fortune 500 companies are now moving to renewable
energy for economic reasons rather than simply
to comply with regulations. Michael Bevan used
DuPont as an example. As recently as 2000, their
business relied entirely on fossil fuels. Today
they are 15 percent reliant on renewable energy,
with plans to increase to 25 percent.
- The move away from an energy-intensive manufacturing
economy has resulted in energy efficiency gains.
The
Next Round of Energy Investments
National
Trends
- It is unlikely that any one
source of renewable energy will become dominant.
- A diversified energy industry
also makes the nation less vulnerable to an interruption
in the supply of any one energy source.
- Although tough economic times and record federal
deficits have resulted in reduced investment in
energy research and development generally, federal
investment in renewable energy is up slightly.
Massachusetts Issues
- The last round of power plant
investment was dominated by natural gas. As a
result, almost half the electricity produced statewide
comes from natural gas; more than 80 percent in
greater Boston.
- More power will be needed here
by 2010; decisions about how that power will be
generated are being made now.
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©
2005 Mass Insight Corporation, 18 Tremont Street, Suite 930, Boston, MA 02108
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