It is said that the field of green technology innovation will become the largest economic opportunity of the coming century. From clean energy and commercial operations to green building and land reclamation to green chemistry and investing–you’ll often be hearing about this development from the researchers, policy makers, businesses and investors who are working to make technology, innovation and enterprise environmentally sound and economically viable.
The economy and the environment go hand in hand, but it’s up to the residents to make the connection. In Rhode Island, nearly 100 people packed an auditorium at the New England Institute of Technology to talk about solar energy, educating young workers on green technology and policy initiatives. Rhode Island is taking initial steps toward encouraging green technology.
Rhode Island’s first-ever utility-scale wind turbine which is 165 foot tall, 660 kilowatt (kW), is the living proof of the state’s vision to preserve the natural resources. This wind turbine will be the largest single investment ever made by the Rhode Island Renewable Energy Fund. The turbine is expected to generate 40 percent of the annual electricity demand of the Portsmouth Abbey School, one of Rhode Island’s largest consumers of electricity. It can produce 1.25 million kilowatt hours of electricity per year. The Portsmouth Abbey turbine cost about $ 1.1 million to stand, but the state paid for $ 450,000 of that through a renewable energy grant from the Office of Energy Resources. The Portsmouth Abbey turbine cost about $ 1.1 million to stand, but the state paid for $ 450,000 of that through a renewable energy grant from the Office of Energy Resources.
In addition to energy conservation measures, the Abbey is also looking to promote renewable energy and had looked into a number of options, including Solar, Geo-Thermal and Wind Power. As wind has been a resource on the site of the School since colonial times, the administrators and state officials are thinking that a wind turbine could possibly provide the Abbey and School with the best option for a renewable energy source and the greatest savings in energy costs.
Power coming from the wind turbine reduces the load on the local utility electrical distribution feeder. It also provides higher voltage and improved power quality to the entire neighborhood during peak power use periods.
The wind turbine revenues during its first year of operation amounted to $ 222,710, including $ 64,661 in renewable energy credits, $ 28,496 in wholesale electricity sold back to the grid, and $ 129,553 in retail electricity displaced.
Following the success of the turbine at Portsmouth Abbey School, there are several cities and towns in Rhode Island, including the town of Portsmouth, which are now considering the installation of a wind turbine to help lower municipal energy cost. These cities believe that Portsmouth Abbey wind turbine is a clear example of such success.
As of the moment, Rhode Island is currently developing its second wind turbine following the success of the Portsmouth Abbey School Wind Turbine. With the initiative to invest in green technology, the “wind-rich” Island is now looking for brighter, greener and environmental friendly technology to develop.
