Policy, investment and markets News for March 2010

Policy, investment and markets News Archive

Europe could have 100% renewable energy by 2050: study

Europe and North Africa could obtain all of their electricity from renewable energy by 2050, if the concept is supported by a single European power market united with a similar market in North Africa.

California group opposes major solar energy proposal

An independent consumer advocacy division within the California Public Utilities Commission (CPUC) says it opposes a US$1.5 billion solar photovoltaic proposal currently under consideration by CPUC.

Designate renewable energy zones across US, suggests think-tank

A US think tank says creating ‘competitive renewable energy zones’ would be a solution to raise the private investment that is needed to update transmission infrastructure, increase capacity for renewable energy and move toward the ‘smart grid.’

Siemens to build wind turbine factory in Britain

Siemens will invest £80 million to develop an offshore wind turbine production facility in the UK.

Europe expects €1 bn investment in renewable energies this year

The European Commission and the European Investment Bank (EIB) predict that a new facility will support €1 billion of renewable energy and energy efficiency projects this year.

Chinese policies could make things challenging for foreign renewable energy, says report

China has moved steadily to prevent foreign participation in its renewable energy market, which will have a negative impact on the renewable energy industry in the United States and other countries.

Regulator funds US279m for renewable energy projects

The New York State Public Service Commission has approved US$279 million over five years for renewable energy projects, part of the state’s Renewable Portfolio Standard (RPS).

Small business captures largest share of renewable energy grants

Small business in the United States received 23% of the federal funding for renewable energy support, more than any other sector.

New York: US$24m for renewable energy

New York governor David Paterson has awarded US$24 million in American Recovery & Reinvestment Act (ARRA) funding to 206 renewable energy and energy efficiency projects.

Wales can dramatically increase renewable energy capacity by 2025

Wales has the potential to generate twice its electricity demand from renewable energy sources within 15 years, according to environment minister Jane Davidson.

Wind and solar power cost sensitive to load factors

The cost to generate onshore wind can be as low as US$48/MWh and as high as US$188/MWh for offshore wind, according to a detailed analysis by the International Energy Agency (IEA).

US native tribes key for renewable energy

Indian tribes in the US can combat climate change by creating jobs through the development of renewable energy facilities, says a report from the National Wildlife Federation.

US to boost development of hydropower

Three US departments have signed a Memorandum of Understanding to increase production of hydropower while reducing environmental impacts and enhancing ecosystem viability.

Renewable energy industry and investors’ Budget reactions

The UK renewable energy industry and investors are broadly speaking, welcoming the 2010 UK Budget, but there are warnings about implementation times, amongst other things.

£2bn UK Green Investment Bank announced

As part of its 2010 Budget, the UK Government has announced the set up of a £2 billion Green Investment Bank to support low-carbon and renewable energy infrastructure projects.

NREL establishes sustainable energy transition initiative

The National Renewable Energy Laboratory (NREL) has established a global institute dedicated to “analysing, speeding and smoothing the transition to sustainable energy worldwide.”

Europe offers €56m to engage on renewable energy Europe offers €56m to engage on renewable energy

The European Union must engage all levels of society to support renewable energy, if it is to meet its commitment of 20% from renewable energy by 2020.

No top changes in quarterly assessment of renewable energy

The United States, China, Germany, India and Italy remain the most attractive countries for renewable energy, according to a quarterly assessment by Ernst & Young.

Scotland expects 26,000 new jobs in renewable energy

Scotland could create 60,000 green jobs by 2020 in low-carbon and renewable energy industries, according to the Scottish Government.

Share of renewable energy lags its growth in capacity

The amount of electricity generated from renewable energy in the United States has doubled in the past 20 years, but its share of total output has not grown by the same degree.

Global fund to mobilise US$40bn

An international meeting on climate finance has approved plans to mobilise US$40 billion for country-led low-carbon growth.

Joint programme for renewable energy in California

A new programme will streamline and accelerate the permitting and siting process for large-scale renewable energy projects in California, USA.

Worldwide solar PV market reaches 6.43 GW in 2009

Worldwide solar photovoltaic (PV) installations reached 6.43GW in 2009 – a 6% growth from 2008, according to the latest ‘Marketbuzz 2010 Report’ from market research and consulting company Solarbuzz.

SunPower’s 2009 net income fell 63%

SunPower reported a net income of US$33.17 million for 2009, down 63% on 2008.

Centrosolar EBIT fell 42.5% in 2009

Centrosolar reported a 42.5% fall in EBIT in 2009 to €6.9 million.

Mapping European renewable energy statistics

A mapping service allowing visual comparison of renewable energy statistics in Europe is now available from the specialist search engine for renewable energy and energy efficiency, reegle.

More US companies show interest in renewable energy

Half of the US companies which currently do not support renewable energy are considering options to generate or buy renewable energy, or at least to purchase renewable energy credits.

Renewable energy scores high in global poll

The solution to energy and climate change challenges lies in developing low-carbon sources of renewable energy, rather than reducing energy use, according to a survey across 22 countries.

LA carbon surcharge to boost renewable energy

The mayor of Los Angeles has announced a carbon reduction surcharge, where the proceeds will support a renewable energy trust fund.

US Governors: more support for wind energy

A bipartisan group of state governors want President Obama and Congress to adopt a set of recommendations that will develop wind energy across the United States.

Revenue for solar, wind and biofuels reached US$139bn in 2009

Growth in the three renewable energy sectors last year was 11.4% over 2008, and their US$139 billion in aggregate revenue will reach US$326bn by 2019.

Indonesia to double geothermal capacity

A new climate investment fund plan will double the capacity of geothermal energy in Indonesia.

California regulator allows RECs in RPS

The California Public Utilities Commission will allow tradable renewable energy credits (TRECs) to be used in the state’s Renewables Portfolio Standard (RPS).

Ocean Power Technologies’ loss deepens in Q3

Ocean Power Technologies reported a third quarter (Q3) net loss of US$5.7 million, a 58% deepening from the same period ending 31 January 2009.

EU on track to meet target from renewable energy

The European Union will surpass its target to consume 20% of its energy from renewable energy sources by 2020, according to national forecasts submitted by its member states.

DONG Energy’s profit tumbles in 2009

DONG Energy A/S saw a 77% tumble in net profit to DKK1.1 billion in 2009.

US smart grid grant tax-exemption

Awardees under the US$3.4 billion Smart Grid Investment Grant programme in the USA will not have to pay tax on funding under the grant.

Q-Cells CEO leaves on solar PV market crisis

Q-Cells SE’s CEO Anton Milner has resigned from the company’s Management Board with immediate effect stating the crisis in the global solar photovoltaic (PV) market as a main factor.

US wind industry wants RES

The US wind industry, through the American Wind Energy Association (AWEA), has called on Congress to pass a national Renewable Electricity Standard (RES) to save and create US jobs.

Canadian feed-in tariff approves solar projects

The feed-in tariff in the province of Ontario has approved the first trache of larger solar energy projects.

California funds US$90m clean and renewable energy

The California Energy Commission (CEC) says its US$90 million ‘Clean Energy Manufacturing Program’ will strengthen the state’s leadership in clean and renewable energy by providing financing to manufacturers.

US health group saves money on renewable energy

A non-profit network of healthcare providers in the eastern United States could save US$1.25 million over the next three years after locking in electricity rates through a renewable energy purchasing contract.

Renewable energy in Australia is “largely undeveloped”

The Government of Australia has released its first national Energy Resource Assessment, concluding that wind energy and other renewable energy sources are expected to become increasingly significant.

Energy efficiency in US could create 333,000 jobs

Proposed US legislation on energy efficiency would create more than half-a-million jobs within two years, according to the American Council for an Energy-Efficient Economy (ACEEE).

Suntech’s net income soars 182% in 2009

Suntech saw a 182% surge in net income attributable to holders of ordinary shares to US$91.48 million in 2009.

Phoenix Solar net profit down 63.7% in 2009

Phoenix Solar saw consolidated net profit slump 63.7% to €8.5 million in 2009 following the fall in prices and the financial downturn.

Renewable energy can meet 100% of demand: US study

A study in North Carolina suggests that solar and wind energy could supply 94% of the electricity needs in the state.

Germany reduces solar subsidy

The German Cabinet has approved a reduction in the feed-in tariffs for solar energy.

Q-Cells - largest solar PV system integrator In 2009

Q-Cells International was the largest solar photovoltaic (PV) system integrator in 2009, according to a study by IMS Research.

Trina Solar EU HQ in Switzerland

Trina Solar Ltd has established a European regional headquarters in Zurich, Switzerland, which commenced initial operations as of January 2010.

23,450 jobs if Colorado state supports solar

The state of Colorado, USA, could create thousands of jobs if it approves legislation to require large utilities to increase their use of renewable energy.

Acta rejigs Asian catalysts, fuel cell distribution deal with Sumitomo

The Italian-based fuel cell and catalyst developer Acta SpA has agreed a new catalysts distribution arrangement with Sumitomo Corporation in Japan.

US offers US$100m for research on renewable power storage

The US Department of Energy (DoE) will fund US$100 million for research projects focusing on grid-scale energy storage, electrical power technology, and building energy efficiency.

NPD Group acquires solar energy market researcher Solarbuzz

The NPD Group has acquired Solarbuzz LLC, an international solar energy market research and consulting company.

Solar boat uses 500 m2 of PV panels Solar boat uses 500 m2 of PV panels

The world’s largest solar powered boat will launch next month and travel around the world in 2011.

Renewable energy and efficiency loans for UK homes

The UK Government has announced a new strategy to make UK homes more energy efficient and increase use of renewable energy.

Wärtsilä and Hitachi Zosen to develop, market fuel cell power plant solutions in Japan

Finland-based Wärtsilä and Hitachi Zosen in Japan have signed a business development agreement to develop and market solid oxide fuel cell based power solutions for distributed power generation applications in Japan.

Financing for renewable energy to save US$22m/a

The state of Massachusetts has launched a new financing plan that will support renewable energy and energy efficiency projects at state buildings, saving millions of dollars in energy costs each year while creating jobs and supporting the administration's clean energy goals.

Europe adopts report on biomass sustainability

The European Commission has adopted a report on sustainability requirements for the use of solid biomass and biogas in electricity, heating and cooling, concluding that more detailed legislation is not necessary at this stage.

Scotland should support off-grid renewable energy

Targets for climate change are ambitious but are achievable if the Scottish Government considers support for green heat and other non-traded energy.

Renewable energy developer juwi expands

The juwi group of Germany is expanding in Germany and the USA – “one of the world’s largest growth markets for renewable energies.”

SeaEnergy Renewables: Rosenblatt New Energy Awards ‘Company of the Year’ SeaEnergy Renewables: Rosenblatt New Energy Awards ‘Company of the Year’

SeaEnergy Renewables has been named ‘Company of the Year’ at the Rosenblatt New Energy Awards 2010.