May 14th, 2012
Last week, I participated in an informative webinar by REMI and Clean Edge, Inc. on their State Clean Energy Leadership Index and Clean Energy Trends 2012 reports. Here are a few of the key points:
- The global solar power market is expected to grow rapidly, from $92 billion in 2011 to $131 billion in 2021.
- The global wind power market is expected to grow from $72 billion to $116 billion over that same time period.
- Total installed PV systems price will drop from $3.47/W in 2011 to $1.27/W in 2021, with the “levelized cost” falling from 14-23 cents/kWh in 2011 to 5-10 cents/kWh in 2021.
- Cleantech venture capital (VC) investments are rising rapidly, and currently make up about 25% of total VC investments.
- Moving forward, breakthroughs in clean energy financing options, such as real estate investment trusts (REITs) and green banks could be just as important as technological innovation.
- Among U.S. states and regions, California is leading the way on clean energy, followed by Oregon and Massachusetts in the next tier, then New York and Colorado. The South is lagging behind, late to the game, but also presents potentially large opportunities and “low-hanging fruit.”
The bottom line, according to REMI and Clean Edge: 1) clean energy is already deployed at scale; 2) it’s growing rapidly (and will continue to do so); 3) it’s working; 4) costs are coming down (and will continue to do so); 5) VC money is pouring in; and 6) states and localities are taking the lead (in lieu of the federal government). All in all, it’s an exciting time to be in clean energy!
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May 14th, 2012
Here are five recommended reads for today (5/14/12)
- Stephen Lacey of ClimateProgress reports: “Power generation from coal is falling quickly. According to new figures from the U.S. Energy Information Administration, coal made up 36 percent of U.S. electricity in the first quarter of 2012 — down from 44.6 percent in the first quarter of 2011.”
- According to Greentechmedia: “Based on projections from the EIA’s May 2012 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn ‘an estimated $1,154 billion of net oil export revenues in 2012 and $1,117 billion in 2013. Last year, OPEC earned $1,026 billion in net oil export revenues, a 33 percent increase from 2010.’”
- Bloomberg reports, “Saudi Arabia is seeking investors for a $109 billion plan to create a solar industry that generates a third of the nation’s electricity by 2032… The world’s largest crude oil exporter aims to have 41,000 megawatts of solar capacity within two decades.”
- According to InsideClimateNews, “Long Island, N.Y., becomes one of the first places in the U.S. to adopt the newly made-over CLEAN model to promote solar energy… The initiative uses the same feed-in tariff model that many credit for solar power booms in Germany, France and Spain—only with a different name.”
- The New York Times reports: “Analyzing a survey they conducted in 2011, researchers at Harvard and Yale found that the average United States citizen was willing to pay $162 a year more to support a national policy requiring 80 percent “clean” energy by 2035. Nationwide, that would represent a 13 percent increase in electric bills.”
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May 11th, 2012
Here are five recommended reads for today (5/11/12)
- Brendan Demelle of DeSmogBlog reports: “ForestEthics Advocacy released a game-changing research brief today documenting the massive foreign control of Alberta’s tar sands oil industry. Publicly traded oil companies with active tar sands operations have a very high level of foreign ownership – 71 per cent.”
- According to the Huffington Post, “Progressive lawmakers Sen. Bernie Sanders (I-Vt.) and Rep. Keith Ellison (D-Minn.) teamed up on Thursday to introduce legislation designed to stop subsidies to the oil, coal and natural gas industries, preserving an estimated $110 billion over the next ten years.”
- InsideClimateNews reports, “Long involvement in Canada’s tar sands has been central to Koch Industries’ evolution and positions the billionaire brothers for a new oil boom.”
- According to CleanTechnica: “In a sign that wave and tidal stream renewable energy technology may be poised to come of age, Vattenfall, Europe’s sixth-largest power utility, Spanish multinational renewable energy developer, Abengoa and UK-based international engineering firm Babcock have joined to form Nautimus, a Scottish company that will provide engineering, procurement, integration and construction (EPC) services for utilities’ wave power and tidal stream projects.”
- ClimateProgress reports: “Today, behind closed doors in Charlotte, North Carolina, legislators from 15 states will meet with the oil and gas industry to discuss so-called “model legislation” as part of the American Legislative Exchange Council (ALEC). The result could be laws that handicap renewable energy targets — while creating loopholes for fossil fuels, written directly by the oil and gas industry itself.”
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May 10th, 2012
A new poll, by Small Business Majority, provides strong evidence that support for clean energy in this country is both broad and deep. The bottom line findings from small business owners in six states (Colorado, Michigan, Nevada, Ohio, Pennsylvania and Virginia) are as follows:
Also worth noting, a breakout of Virginia indicates that 65% of small business owners there “favor ending government subsidies to oil and gas companies,” while overwhelming majorities (79%-91%) support specific government incentives – clean energy tax credits, mandatory Renewable Portfolio Standards, clean energy research, etc. – to help move us towards a clean energy economy.
The bottom line? According to Small Business Majority, small business owners across America “want bottom-line oriented clean energy policies that increase opportunities and reduce operating costs, such as those associated with fuel and electricity.” In large part, that’s because they understand that we can’t keep doing what we’ve been doing in terms of energy if we want to compete in the 21st- century world economy. The only question is, when will Congress get the message?
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May 10th, 2012
According to an article in this morning’s Washington Post, India’s solar power industry is “finally taking off,” although “massive hurdles must be overcome before it can make a meaningful contribution to the country’s rapidly growing power needs, experts and business leaders say.” Here’s an excerpt (bolding added for emphasis):
Two years ago, as part of its National Action Plan on Climate Change, India set out to boost the solar industry through subsidies, setting a generation target equivalent to around 3 percent of the country’s projected power needs by 2022.
The private sector has responded eagerly. With the price of solar energy dropping sharply, and with sun-drenched western states such as Gujarat and Rajasthan launching their own drives to subsidize solar power, many say the target will be more than met.
“India is a very important market for the solar industry, one of the top three markets worldwide,” said Jayesh Goyal of California-based concentrated solar power technology provider Areva Solar. “The general view is that India will reach the 3 percent target before 2022.”
The logic for the Indian solar sector appears almost irrefutable.
India enjoys more than 300 days of sun a year and is desperately short of electricity to power its fast-growing economy. Power cuts are frequent, and reliance on noisy, expensive and polluting diesel-generators is widespread; some 400 million Indians are not even connected to the grid.
In sum, these are exciting times for solar power in India.
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