Press Release
FOR IMMEDIATE RELEASE:
STUDENTS INVESTIGATE MAJOR PROBLEMS IN CURRENT US ELECTRICITY POLICY
Public Health Burdens, Subsidies, Environmental Damages Present Serious Challenges to US Economy
Santa Barbara, CA, Feb 20, 2009 – Two students from UC Santa Barbara’s Environmental Affairs Board have released a report that documents a number of serious economic concerns regarding the coal and nuclear electricity industries. The report synthesizes information from a number of academic, media and government sources to provide a holistic look at the economics behind domestic electricity production. When external costs are considered, the authors argue, wind and solar become more attractive alternatives.
“Coal-fired electricity has an estimated annual public health burden of $268 billion and receives an estimated $8 billion per year in federal subsidies. It also requires a minimum of $11 billion per year in needed but currently missing regulations to ensure adequate environmental safety,” says Quentin Gee, a graduate student at UCSB and co-author of the report. “Just because public health costs and subsidies don’t show up on your electricity bill doesn’t mean that the American economy doesn’t pay the price.”
The report, US Electricity Policy 2009, also documents the consistently increasing costs of nuclear technology. Current estimates for new nuclear plant construction put per kWh costs of electricity at 16 cents, almost twice the US average.
In addition to highlighting problems with nuclear and coal, the report documents a number of market trends within the wind and solar sectors that point to immediate or near-term cost competitiveness with conventional sources. Undergraduate student Nick Allen, the other co-author of the report, asks, “Why should we waste valuable financial resources on dangerous and uncertain technologies when market momentum in the renewable sector trends toward a more cost-effective use of investment dollars? The market understands this, and has acted accordingly. Policy makers and other interested individuals should take note.”
The authors intend for the report to serve as an informational and lobbying resource for the 10,000 students expected to attend the second Power Shift event, a youth climate summit in Washington DC from Feb 27th to Mar 2nd. Allen explains, “Students compiled the information in this report to show congress and the country that the youth are informed, and frankly, seriously concerned about the direction of current policy. We hope that fellow students will utilize the information herein in their efforts to constructively engage their representatives in the capital.”
A number of energy experts in the Santa Barbara Area have reviewed the report, including Senior Lecturer in Energy and the Environment Melvyn S. Manalis and Senior Energy Associate for Santa Barbara’s Community Environmental Council, Megan Birney.
CONTACT:
Quentin Gee, Nick Allen
The Environmental Affairs Board at UC Santa Barbara
Voice (269) 492-2235, (415) 710-5364
Fax (805) 893-7734
ucsbeab@gmail.com
US Electricity Policy 2009 can be accessed online from:
www.ucsbeab.com
© 2008