How to create professional quality HD Video with Premiere Elements

Question

This is a guide for Premiere Elements 11 that can be adapted to other versions.
Professional video must be at very high bitrates (50-100 Mbps) to minimize quality loss
from compression across multiple generations, with chroma subsampling of at least 4:2:2.
(Many broadcasters will reject video below 50 Mbps.)
The best Computer preset options available in Premiere Elements 11 for professional output:
AVI: Advanced: Video Codec: Uncompressed UYVY 422 8bit
QuickTime: Advanced: Video Codec: Uncompressed YUV 10 bit 4:2:2
QuickTime: Advanced: Video Codec: Uncompressed YUV 8 bit 4:2:2
Best possible quality, but gigantic file size, may well be impractical.
MPEG: HDTV 1080p High Quality
Use Advanced to set the Video: Profile to 4:2:2; check Render at Maximum Depth; and set Target Bitrate (Mbps) to 50-100. VLC Media Player can be used to play the output file. In general, this is the most practical standard option.
AVCHD: MP4 - H264 1920x1080p
Unfortunately, only chroma subsampling of 4:2:0 is supported.
A good alternative to these standard options is to install and use the free Avid DNxHD codec, which is widely accepted professionally. Download and install it from here, and then reboot your computer. To use it in Premiere Elements, select Publish+Share: Computer: QuickTime: Advanced.
In the Video tab:
Set Video Codec to Avid DNxHD Codec.
Click Codec Settings, and set desired Resolution (e.g., 1080p/29.97 DNxHD 36 8-bit).
Set Width and Height to 1920 and 1080 respectively.
Set Frame Rate as desired.
Field Type should normally be set to Progressive.
Set Aspect to Square Pixels (1.0).
Check Render at Maximum Depth.
In the Audio tab:
Set Audio Codec to Apple Lossless.
Click OK, and Save your new preset with a meaningful name.
QuickTime can be used to play the output file.
Hope that helps!

Answer 1

While consumers are indeed the intended audience of PE, it's nonetheless usable for professional output when you don't need the full capabilities and complexity of PP. I use both, and while I do sometimes need PP, I often find PE suited to the job at hand,
PE does support MPEG-2 4:2:2P@HL. (I just tested it in PE11 to be sure.)
AVCHD, while originally introduced as a format for consumer use, is now widely accepted as a professional format -- Panasonic and Sony both make professional AVCHD camcorders.
Regardless, I prepared this guide especially for those who don't use PP -- even with the easier pricing of CC, PP can be too steep a learning curve for an occasional professional job when PE can get it done.