Study: Wood pellets could boost region
A new study concluded the Northeast could retain $4.5 billion in its regional economy by increasing its use of wood pellets over the next 15 years.
The study, "A Bold Vision for 2025," reports that the region could cut its dependence on heating oil by 25% by switching 1.4 million homes in Maine and six other regional states from oil heat to biomass boilers, according to the Maine Sunday Telegram. The switch would cut annual oil use by 1.14 billion gallons and lead to 140,200 new jobs. The study was prepared by five trade groups, including the Maine Pellet Fuels Association and the Biomass Thermal Energy Council, according to the paper.
Meanwhile, plans to build a $20 million, 100,000-ton-per-year wood pellet plant in Burnham have been put on hold until the fall of 2011. Steven Mueller, president of International WoodFuels, told the paper the delay is due to a combination of difficult market conditions and restricted access to debt and equity financing. Maine currently has four wood pellet plants, two of which are rebuilding from fires.
Go to the article on the report from the Maine Sunday Telegram >>
Go to the article on the Burnham plant from the Maine Sunday Telegram >>
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