Biotech Updates

US National Renewable Energy Policy to Open New Markets and Opportunities

November 13, 2009
http://beag.ag.utk.edu/
http://bipartisanpolicy.org/sites/default/files/U.%20Tenn.%20RES%20Briefing%20Presentation%2010-23-2009.pdf

A report by the University of Tennesee's Bio-Based Energy Analysis Group (BEAG) predicts that "significant market opportunities for agriculture" can be realized under the national Renewable Energy Standard (RES) policy. The RES policy in the United States requires American utility companies to provide a minimum percentage of the energy they produce from renewable sources. Under a 25% RES policy by 2025, the increased demand for biomass feedstock is substantial, and increases in gross receipts ranging from US$9,000 per farm to US$16,000 per farm is projected in Florida, Colorado, North Carolina and Kansas. More job creation is seen in scenarios with stronger RES targets, and in Federal (rather than state) proposals. According to co-author, Dr. Burton English, the jobs are diverse; these are driven not only by the build up of new energy infrastructure, but also are associated with growing the biomass and collecting and bundling forest residues that will fuel power plants. The report was presented October 23 during a briefing at the United States Senate..