NC State Energy Conference

I've been at the NC Sustainable Energy Conference hosted by the North Carolina State Energy Office over the past two days, listening to academics, legislators, business owners, and non-profits share experiences and emerging trends in North Carolina's burgeoning green economy. It was very exciting to see 900 people come together to network and discuss their successes. You can see the agenda here.

There were many entrepreneurs organizing their business and seeking funding. There were many investment firms looking for the next start up to fund.

There was much discussion about stimulus money (otherwise marketed as the American Recovery and Reinvestment Act or ARRA) and how it would be distributed. Did you know that almost 300 pre-proposals were sent into the State Energy office for their share of $1 million?! Next year that pool has been boosted to $5 million. The demand is out there. And the money is coming...

It was quite uplifting to hear sooo much discussion of hope and change. No one really talked about the economic woes, rather what the stimulus money would do to spur innovation. In two days, I heard the downturn mentioned once - and with a quick joke about the banks not recognizing opportunity. There was more discussion about groups and individuals starting up distressed asset funds, investment funds, and other pools of money to take advantage of the lack of financing.

I really think we're about to embark on a significant transfer of wealth. The fact that individuals are pulling together to raise investment funds that will take the place of/supplement the credit markets...have you thought about the volume of cash sitting on the sidelines waiting for the 'right' investment? And now state and federal governments have matching grants (not loans, GRANTS!) - we're very close to the tipping point.

So, what is going to push us over the edge? Legislation and regulations could do it for renewable energy. The Federal Senate and House have introduced bills on a Renewable Electricity Standard that requires 25% of energy production to come from renewable resources - solar, wind, and anaerobic biomass. Cap & Trade, a national building code standard, investment in transmission infrastructure, and the smart grid capabilities are all on the docket. We'll see how much makes it through to a final version, but at least the proposals are pushing for more innovation around energy.

There was also discussion about having a trained workforce capable of providing service for the new green economy, as well as manufacturing capabilities to make these products here. Kids in school need to learn about what is possible, that opportunities exist if they pursue the education. The Community College system is hard at work developing workforce training programs for all kinds of energy-related services. The State government is encouraging employers to take on high school students for summer jobs in these sectors, and will soon start an advertising campaign about the new green economy and opportunities for all.

Oh, and if you were thinking about replacing your appliances, hold off for a few more months. The feds are rolling out a credit for Energy Star appliances. Looking to weatherize your house? You may be able to get a significant tax credit.

That's the long and short of it. I really enjoyed both days, and had fun catching up with contacts and meeting new people. I hope you had the chance to attend, but if not, rest assured there were lots of sustainability movers and shakers, decision makers, policy makers, small business owners, and entrepreneurs - the makings of a new economy.