Renewable Energy Sources
- Hydropower - refers to using water to generate electricity. Accounts for 7% of the electricity used by the nation.
- Wind Power - world's fastest growing energy technology. Currently supplies 1% of the U.S. electricity needs.
- Solar Power - use's the sun's energy to provide heat, light, hot water, electricity, and cooling.
- Geothermal Power - uses the natural sources of heat inside the Earth: the most common is steam or hot water from the underground.
- Biomass Power - power obtained from the energy in plants and plant - derived materials.
Industry Profile
- Total energy consumption in Indiana in 2005 was 29,074,725 (trillion btu), ranking 11th in the country.
- Indiana produces 2% of the country’s coal in the southern part of the state, but gets 95% if its electricity from coal. Indiana has a traditional regulated market for electric power and is growing at 2.3% each year. Transportation accounts for 22% of all energy consumption in Indiana. Indiana lies in the Corn Belt and is a large producer and consumer of ethanol; the state ranks eighth in ethanol consumption.
- The Renewable Energy Policy Project (REPP) recently identified Indiana as having the 7th best opportunity for jobs and investment in renewable energy component manufacturing in the US.
- Indiana is the 7th largest biogas producer in the country with 10,424 MW hours of energy from livestock waste.
- Indiana has potential for solar energy development, particularly in the southern part of the state, which sees more than 4.5 hours of direct sun hours per day.
- More than 1/3 of Indiana’s 15 million acres of farmland are devoted to growing corn. Much of this corn feeds Indiana’s 11 corn ethanol plants, which churn out 826 millions gallons of ethanol each year.
Indiana Wind Energy
- Indiana is the fastest growing wind energy state in the country.
- Indiana has the 530.8 megawatts (MW) of wind energy online, and plans an additional 300 MW to be available by the end of this year.
- Fowler Ridge Wind Farm in Benton County is the largest wind farm in the Midwest.
- Indiana’s wind farms include Benton County Wild Farm, Fowler Ridge Wind Farm, Meadow Lake, and IPL Hoosier Wind Farm.
How will Indiana benefit?
- Clean energy jobs in Indiana
- LessCarbonMoreJobs.org tells the story of existing companies across Indiana that will get new customers and create jobs with a cap on carbon.
- Researchers estimate that investments in clean energy will create more than 38,000 jobs for Indiana. Two examples are, Sunrise Solar and Enerdel.
- Opportunities for Industry and Business
- The Department of Energy and McKinsey and Company have identified the following opportunities:
- The U.S. Steel Industry can save $97 million on low-hanging efficiency.
- 2,592 different ways that industrial plants can earn savings from efficiencies.
- Costs of Inaction
- Inaction on global warming may cause significant harm to the Midwest with potentially dire economic consequences for Indiana.