Tomorrow, Austin Energy, a publicly owned utility in Austin, Texas will hold our nation's first green energy raffle. The raffle is a seminal moment in the transition to the 21st century or Plan B energy economy, highlighting the economic feasibility - and long term dominance - of renewable energy sources, most notably wind energy.
In 2000, when Austin Energy unveiled their GreenChoice program, customers paid a premium for the renewable energy based program. Over the last 5 years however, climbing prices for natural gas coupled with the dropping prices of wind, pulled conventional electricity costs above those of wind-generated electricity. This reality had an immediate impact in markets across the country. In Austin this meant a dramatic increase in demand for their GreenChoice program, actually growing beyond their current wind supply and ultimately forcing the company to hold tomorrow's raffle.
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