Francois De Beaupuy for Bloomberg: Global Bioenergies SA, an unprofitable French maker of sugar-based gasoline, said oil’s recent slump to $35 a barrel is testing the financial viability of its technology even as it plans expansion in the U.S.
“The economic case doesn’t stand with oil at $35, except when there’s a tax incentive” as in various European countries and the U.S., Chief Executive Officer Marc Delcourt said in an interview. Without tax breaks, the company would need Brent crude well above $100 a barrel, he said.
Shares of Global Bioenergies, listed in Paris since 2011, have dropped more than 50 percent from their peak in May as oil’s collapse raised investor concern that biofuel makers couldn’t compete. Delcourt is counting on the end of European sugar production quotas in 2017 and changes in U.S. eating habits to keep the sweetener’s price low as it eyes additional capacity. Raw-sugar futures are trading at half their price five years ago. Cont'd...
Reuters - China will cut payments to wind and solar electricity generators for contributing power to the grid, the country's state planning commission said over the weekend, reflecting recent declines in operating costs.
Starting in 2016, on-grid tariffs for solar producers will be 0.02 to 0.10 yuan lower per kilowatt-hour — with the higher cuts applying in the country's less populated, arid western region — while tariffs for wind power generators will fall 0.02 to 0.03 yuan, the National Development and Reform Commission said in a statement.
The cuts, which were expected, are in line with a 0.03 yuan cut on Wednesday to on-grid tariffs for thermal power. Coal still fires more than 70% of China's power generation. Cont'd...
By ESTHER WHIELDON for Politico: Harry Reid’s home state dealt a lethal blow Tuesday to rooftop solar power — the latest skirmish of a nationwide green energy battle that has pitted the Senate Democratic leader against his favorite target, the Koch brothers.
The move by Nevada’s utility regulator, which voted to slash the economic incentives for homeowners to install solar panels, was most immediately a showdown between billionaires Warren Buffett, owner of the state’s largest power company, and Elon Musk, whose SolarCity is the nation’s largest installer of panels that create electricity from the sun. But it also served as a proxy fight in a national struggle about states’ green energy programs, in which free-market groups backed by industrialists Charles and David Koch have fought to roll back incentives that they argue distort the marketplace and force some customers to subsidize other people’s power choices. Cont'd...
By MAYUMI NEGISHI for the WallStreet Journal: Japanese cities are entering the renewable-energy business, the latest phase in a shake-up of the nation’s power sector in the aftermath of the 2011 Fukushima nuclear crisis.
So far, about 14 cities have formed companies to generate clean energy from local resources and sell it to area businesses and homes. With full deregulation of the nation’s electricity markets set to begin next year, the government aims to have 1,000 such city-operated companies up and running by 2021 in a direct challenge to regional power monopolies.
The move is part of Japan’s strategy for creating energy self-sufficiency, while helping revitalize communities with infrastructure investment. Cont'd...
Sahir Surmeli for National Law Review: Early Wednesday morning Congressional leaders reached agreement on a year-end spending and massive tax deal that would prevent a government shutdown and extend a series of tax breaks that benefit businesses and individuals. The agreement has major implications for the future of the energy industry and is being hailed by many as a dramatic victory for those in the renewable energy community.
The Investment Tax Credit (ITC), which was slated to drop to 10 percent from 30 percent for solar systems on commercial properties after 2016, would now remain at 30 percent for projects that start construction by December 31, 2019. Projects that start construction in 2020 would qualify for a 26 percent credit and that level would drop to 22 percent for facilities started in 2021. From 2022 on it would remain at 10 percent. Cont'd...
Thirty-six countries gave the official start Monday to an initiative to promote geothermal energy in developing economies as a cleaner alternative to oil, gas and coal.
The Global Geothermal Alliance, launched on the sidelines of the UN climate talks in Le Bourget, aims at a sixfold increase in geothermal electricity production and a tripling of geothermal-derived heating by 2030.
At present, geothermal is growing modestly, at three to four percent per year, providing 12 gigawatts of electricity annually.
But this is just a fraction of its overall potential of 100 gigawatts, according to the industry. Only 24 out of 90 countries with geothermal potential actually use the resource.
The alliance said its members will seek to overcome "political uncertainty" about geothermal and strengthen the industry's skills base.
The Global Geothermal Alliance initiative was sketched out in September 2014 at a summit organised by UN Secretary General Ban Ki-moon.
Members include countries on thermal "hotspots" in Africa, Southeast Asia and Latin America, ranging from Kenya and Tanzania to Malaysia, the Philippines and Guatemala. Cont'd...
Wall Street Journal: Many supporters say the abrupt end date of the 30% credit represents a “cliff” for the industry. Without the current incentive, they argue, installation of solar-power systems will plummet, and thousands of jobs in the industry will be lost as a result.
Others, however, argue that the cliff isn’t as steep as it appears, and that solar will continue to grow even without the 30% credit—albeit not as quickly as before.
Amit Ronen, director of the GW Solar Institute and a professor at the Trachtenberg School of Public Policy at George Washington University, argues that the end of the 30% credit will send solar off a cliff. John Farrell, director of the Democratic Energy initiative at the Institute for Local Self-Reliance, says the impact of the tax credit is overstated and the solar market will continue to rise. Full Article:
BY SHANNON EDDY, Special to The Bee: As the seventh-largest economy in the world and a clean-energy leader, California plays a key role in shaping the global response to climate change. The benefits of our leadership will be on the world stage later this month during the international climate talks in Paris.
Over several decades, California has successfully advanced the development of renewable energy resources. As a result, the state boasts the highest concentration of solar projects in the nation, including several of the world’s largest. Large-scale solar power plants are enabling California to meet the goals of reducing carbon emissions to 1990 levels by 2020 and generating 50 percent of its electricity from renewable sources by 2030.
Eleakis & Elder Photography
As with any fast-growing, successful industry, it’s essential to ask questions about unintended consequences. We agree it is important to evaluate how the environmental benefits of large-scale solar – carbon reduction, reduced water use and improved local air quality – compare to any negative consequences for people and the environment. Cont'd...
William Pentland, Contributor for Forbes: In Chile’s most recent power auction, the bids from solar project developers came in at between $65 and $68 per megawatt hour (MWh) were considerably more competitive than bids made by coal plants, which were priced at $85 per MWh. Solar power projects were awarded the lion’s share of the 1,200 gigawatt hours (GWh) of electricity contracts sold.
Chile boasts one of the world’s biggest solar resources. High electricity prices and strong demand from Chile’s mining industry have driven demand growth for solar, especially large scale commercial or utility projects.
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015. Meanwhile, a total of about 8 GW of solar power projects have been approved for development in Chile. First Solar and SunEdison are two of the biggest U.S. solar companies active in Chile. Cont'd...
Mark Chediak & Chris Martin for Bloomberg Businessweek: In 2016 the U.S. will learn if renewable energy can survive without government support. The most significant tax credit for solar power will expire at the end of 2016, and the biggest one for wind already has. These federal subsidies have provided wind and solar developers with as much as $24 billion from 2008 to 2014, according to Bloomberg New Energy Finance. That’s led to a 12-fold increase in installed capacity over the past decade, helping lower costs at least 10 percent each year.
Combined, wind and solar still generate less than 5 percent of electricity in the U.S. The subsidy cuts come as both industries face stiffer competition from ultracheap coal and natural gas. An NYSE Bloomberg global index of solar stocks, including those of big developers SunEdison and First Solar, has fallen about 35 percent since June. A comparable wind index is down 20 percent. Cont'd...
By Emily Gosden, Energy Editor for Telegraph UK: Water giant United Utilities is to install Europe’s biggest floating solar power system on a reservoir near Manchester, as it seeks to capitalise on the novel technology to cut its energy costs.
The 12,000 panel, £3.5m development will be only the second of its kind in Britain, dwarfing an 800-panel pilot in Berkshire last year, and will be the second biggest in the world after a scheme in Japan.
Installation of the panels is due to begin on Monday at the Godley reservoir in Greater Manchester, where it will provide a third of the power for a water treatment works.
The system is scheduled to be completed before Christmas, in order to qualify for subsidies before they are due to be drastically cut in the new year. Cont'd...
By Jordan Blum for Fuel Fix: The Texas electric grid hit a new record for wind power use early Thursday, as the state continues dominating the rest of the nation in wind farm growth.
At 12:30 am Thursday, the main Texas grid operator reported that nearly 37 percent of demand was met with wind power. The Electricity Reliability Council of Texas, which manages nearly 90 percent of the state’s electric needs, said it used 12,237.6 megawatts of wind power at the time. That bested a previous record set on Sept. 13 of 11,467 megawatts.
A megawatt powers about 500 typical Texas residences during periods of normal demand.
The new record came the same day as the American Wind Energy Association reported Texas accounted for nearly half of the nation’s wind power growth in the third quarter of the year. Texas added 771 megawatts of wind generation in the third quarter and, nationwide, about 1,600 megawatts were put online. Texas now has about 16,400 megawatts of wind power, according to the AWEA, which is about 10,000 megawatts more than the second and third windiest states, California and Iowa. Cont'd...
Records 61 to 75 of 188