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100% clean and renewable wind, water, and sunlight (WWS) all-sector energy roadmaps for the 50 United States
100% clean and renewable wind, water, and sunlight (WWS) all-sector energy roadmaps for the 50 United States (PDF)
Source: Energy & Environmental Science
This study presents roadmaps for each of the 50 United States to convert their all-purpose energy systems (for electricity, transportation, heating/cooling, and industry) to ones powered entirely by wind, water, and sunlight (WWS). The plans contemplate 80–85% of existing energy replaced by 2030 and 100% replaced by 2050. Conversion would reduce each state’s end-use power demand by a mean of B39.3% with B82.4% of this due to the efficiency of electrification and the rest due to end-use energy efficiency improvements. Year 2050 end-use U.S. all-purpose load would be met with B30.9% onshore wind, B19.1% offshore wind, B30.7% utility-scale photovoltaics (PV), B7.2% rooftop PV, B7.3% concentrated solar power (CSP) with storage, B1.25% geothermal power, B0.37% wave power, B0.14% tidal power, and B3.01% hydroelectric power. Based on a parallel grid integration study, an additional 4.4% and 7.2% of power beyond that needed for annual loads would be supplied by CSP with storage and solar thermal for heat, respectively, for peaking and grid stability. Over all 50 states, converting would provide B3.9 million 40-year construction jobs and B2.0 million 40-year operation jobs for the energy facilities alone, the sum of which would outweigh the B3.9 million jobs lost in the conventional energy sector. Converting would also eliminate B62 000 (19 000–115000) U.S. air pollution premature mortalities per year today and B46 000 (12000–104 000) in 2050, avoiding B$600 ($85–$2400) bil. per year (2013 dollars) in 2050, equivalent to B3.6 (0.5–14.3) percent of the 2014 U.S. gross domestic product. Converting would further eliminate B$3.3 (1.9–7.1) tril. per year in 2050 global warming costs to the world due to U.S. emissions. These plans will result in each person in the U.S. in 2050 saving B$260 (190–320) per year in energy costs ($2013 dollars) and U.S. health and global climate costs per person decreasing by B$1500 (210–6000) per year and B$8300 (4700–17 600) per year, respectively. The new footprint over land required will be B0.42% of U.S. land. The spacing area between wind turbines, which can be used for multiple purposes, will be B1.6% of U.S. land. Thus, 100% conversions are technically and economically feasible with little downside. These roadmaps may therefore reduce social and political barriers to implementing clean-energy policies.
Improved Interactions Drive Gen Y Increase in Auto Insurance Satisfaction
Improved Interactions Drive Gen Y Increase in Auto Insurance Satisfaction
Source: J.D. Power
Gen Y[1] customers are the driving force behind an increase in overall auto insurance satisfaction due to improvement across all customer service interaction channels, the largest contributor to the customer experience, according to the J.D. Power 2015 U.S. Auto Insurance StudySM released today.
The study examines customer satisfaction in five factors: interaction; price; policy offerings; billing and payment; and claims. Satisfaction is measured on a 1,000-point scale.
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Customer interaction preferences are changing. Gen Y’s preference to interact exclusively through digital self-service (Web or mobile) has increased to 27 percent in 2015 from 21 percent in 2011. A similar pattern of preference is found in other generational groups (Gen X: 23% vs. 19% in 2011; Boomers: 12% vs. 10%; and Pre-Boomers: 6% vs. 4%). Among the interaction channels, satisfaction with the website experience receives the lowest average score, most notably among Gen Y customers (816, compared with 826 for Gen X, 841 for Boomers and 861 for Pre-Boomers).
Building Millennials’ Financial Health Via Financial Capability
Building Millennials’ Financial Health Via Financial Capability (PDF)
Source: University of Kansas School of Social Welfare
Today’s young adults, referred to as Millennials born between the early 1980’s and 2000’s, are coming of age in an economy unlike any other. 1 The macroeconomic conditions of the Great Recession from approximately 2007 to 2011 systematically undermined Millennials’ financial health by limiting employment opportunities, stagnating income growth, reducing net worth, and increasing reliance on debt. Millennials entered a labor market with limited opportunities and saw higher unemployment rates than the rest of the population.2 Fewer Millennials entered the labor market than young adults from any preceding generation and their unemployment rate was roughly 15 to 17 percent at the height of the recession—5 to 7 percentage points higher than the average unemployment rate for the rest of the population. They also experienced diminishing returns for participating in the labor market, earning 6 percent less per paycheck than in previous years.
Fewer employment opportunities and reduced paychecks translated into less money to save and invest. The average Millennial has about $1,000 in savings,4 suggesting that many may struggle to afford necessary expenses in the face of unemployment and to become financially independent.5 Millennials also delayed investing in homes and those who did invest experienced substantial wealth losses that were driven by declining home equity. 6 These losses are reflected in the value of Millennials’ accumulated net worth compared to that of previous generations.7 Millennials’ net worth is valued at $10,000, which is 41 percent less than the values of net worth held by Baby Boomers and Generation X’ers two decades ago.8