The U.S. House Select Committee on Energy Independence and Global Warming, which was created in 2007, warned in its final report that the nation is at a "watershed moment" in the history of energy production.
The choices the country makes at this juncture "will determine the fate of our planet and the national security and economic future of the United States. Between now and 2030, roughly $26 trillion will be invested in energy infrastructure worldwide," according to the "Select Committee Staff Report 2010." The report urged Congress to promote the adoption of clean energy technologies.
Former Speaker of the House Nancy Pelosi, D-Calif., created the select committee in 2007 as part of the Democratic agenda to pass comprehensive climate change legislation aimed at reducing U.S. emissions of carbon dioxide and other greenhouse gases. The select committee was charged with making recommendations on energy independence, national security and global warming. The House of Representatives passed the Waxman-Markey cap-and-trade bill in June 2009, but the measure died in the Senate, where ultimately there was not enough support to pass global warming legislation in the last weeks of the 111th Congress.
Rep. Edward Markey, D-Mass., chaired the select committee, and Rep. James Sensenbrenner, R-Wis., served as ranking Republican on the committee. The select committee was terminated by Republicans when they gained control of the House following the November 2010 midterm elections. On Jan. 5, Pelosi, who was elected House Minority Leader, handed the gavel over to Speaker of the House John Boehner, R-Ohio.
Markey established an archive of the select committee's proceedings on his congressional website. The committee held more than 75 hearings and briefings aimed at developing solutions to ending U.S. reliance on foreign oil and creating millions of new clean energy jobs in the U.S. It also explored domestic energy resources and new technologies and efficiency measures intended to cut waste and save consumers and small businesses money.
Clean energy is likely to make up an increasing share of this global investment each year, the select committee staff report said. Pointing to an International Energy Agency estimate that $5.7 trillion will be invested in renewable electricity generation between 2010 and 2035, the report said the transition to clean energy presents an unprecedented opportunity for economic growth and job creation.
The American Recovery and Reinvestment Act of 2009 helped save the U.S. wind, solar and electric battery manufacturing sectors, while the $90 billion investment in clean energy and efficiency programs put the nation in position to compete in the global clean energy race, the report said. However, it cautioned that other countries are taking the lead in clean energy and the United States "must act now if it is to remain competitive in this rapidly developing global market."
More than 10,000 MW of new wind capacity were installed across the nation in 2009, making it the second consecutive year in which more wind capacity was installed than natural gas, coal, or any other resource, the report noted. Meanwhile, U.S. solar electric capacity grew by 37% in 2009, in conjunction with the price of photovoltaic modules declining by 50% over a two-year period.
While coal remains the single largest source of electricity in the country, at 45%, fuel-switching to natural gas contributed to a 12% decline in coal-fired generation in 2009, its lowest share of the electricity market since 1978, the report said. "Longer-term, the massive contribution of coal-fired power plants to global warming pollution and uncertainty regarding climate policy are making it increasingly inadvisable and difficult to build new conventional coal-fired plants," the report said.
The report noted the United States is the largest consumer of oil in the world, accounting for 22% of global demand, principally to power the transportation system, which is 95% dependent on oil. In 2010, about half of total U.S. oil consumption was supplied by foreign sources, which is down from the 60% of total consumption in 2005 but up from the 42% in 1990.
The U.S. electricity sector, meanwhile, faces rapid growth in the coming decades. Electricity demand is predicted to increase by 30% by 2035, requiring the construction of 250,000 MW of new generating capacity or equivalent increases in efficiency, according to the report. "Many regions of the country are predicted to see declining levels of reserve capacity — putting the reliability of the grid at greater risk," the committee staff warned.
The select committee noted that U.S. electricity prices have increased over the past decade. "Retail electricity prices have seen a steady upward march over the last decade due to rising fuel and infrastructure costs. Prices have increased from a nationwide average of 6.64 cents per kilowatt hour in 1999 to 9.89 cents in 2009, a 49 percent rise," the report said.
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