Smart Grid funding up with $425 Million; Battery/Storage raised $397 million; Energy Efficiency increases to $852 million
Joby Warrick for The Washington Post: ¬ Wind and solar power appear set for a record-breaking year in 2016 as a clean-energy construction boom gains momentum in spite of a global glut of cheap fossil fuels. Installations of wind turbines and solar panels soared in 2015 as utility companies went on a worldwide building binge, taking advantage of falling prices for clean technology as well as an improving regulatory and investment climate. Both industries have seen stock prices jump since Congress approved an extension of tax credits for renewables as part of last months $1.14 trillion budget deal. Orders for 2016 solar and wind installations are up sharply, from the United States to China to the developing economies of Africa and Latin America, all in defiance of stubbornly low prices for coal and natural gas, the industrys chief competitors. ¬ Cont'd...
There could be a limit on how much solar power can grow. That’s because the more solar power we add to the grid, the less valuable it becomes. It’s a simple supply-and-demand story: solar reaches peak generation during sunny afternoons, but there’s a limited demand for such additional power during those times. As a result, solar begins to compete with itself, driving down the price that utilities are willing to pay generators. Solar power accounts for less than 1 percent of the world’s electricity generation today, but as more is added to the energy mix, the economics become increasingly unfavorable. Shayle Kann, head of GTM Research, and Varun Sivaram, a fellow at the Council on Foreign Relations, cite recent studies of the grids in Texas and Germany that suggest the value of solar will be cut in half by the time it makes up 15 percent of the energy mix. A study of California’s grid concluded that if solar power were to reach 50 percent of the grid, it would be only a quarter as valuable as it was before any solar had been added. Kann and Sivaram combined the data from those studies to make the comparison below. Cont'd...
By Emily Cassidy, Research Analyst for EWG.org: Biofuels produced from switchgrass and post-harvest corn waste could significantly reduce the emissions that contribute to climate change, according to an analysis by EWG and University of California biofuels experts. EWG’s analysis found that the life cycle carbon intensity of cellulosic ethanol from switchgrass was 47 percent lower than that of gasoline. Ethanol made from corn stover – the leaves and stalks that remain in the field after the grain is harvested – has a life-cycle carbon intensity 96 percent lower than gasoline’s. By contrast, studies have found that the life cycle carbon intensity of corn ethanol is greater than that of gasoline (Mullins et al. 2010, EPA, 2010a). Yet current federal policies strongly favor the production of conventional biofuels such as corn ethanol at the expense of lower-carbon alternatives. View full article...
From Melissa Abraham | MIT Energy Initiative : Report highlights enormous potential and discusses pathways toward affordable solar energy. Solar energy holds the best potential for meeting humanity’s future long-term energy needs while cutting greenhouse gas emissions — but to realize this potential will require increased emphasis on developing lower-cost technologies and more effective deployment policy, says a comprehensive new study, titled “ The Future of Solar Energy ,” released today by the MIT Energy Initiative (MITEI). “Our objective has been to assess solar energy’s current and potential competitive position and to identify changes in U.S. government policies that could more efficiently and effectively support its massive deployment over the long term, which we view as necessary,” says MITEI Director Robert Armstrong, the Chevron Professor in Chemical Engineering at MIT.
"Unfortunately, the report looks at the solar Investment Tax Credit in a vacuum, without any consideration given to the 100-year history of preferential tax treatment enjoyed by fossil fuels," Resch said.
Revenue from Energy Storage Technologies is Expected to Exceed $21 Billion Annually by 2024, According to Navigant Research
Vendors are under pressure to deliver more consistent, lower pricing, report concludes
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