Stanford University’s board of trustees voted yesterday to rid the university’s $18.7 billion endowment of any direct investments in coal-mining companies, a move that activists hailed as a harbinger for institutional investors. The university will refrain from directly investing in about 100 public companies whose primary business is coal extraction and will get out of any such investments it currently has.
Yesterday’s sweeping federal report on climate change’s toll on the United States should spur the GOP to offer its own ideas for how to combat the problem, according to two moderate Republicans. Former Utah governor and GOP presidential candidate Jon Huntsman and Reagan-era EPA Administrator Lee Thomas both wrote op-eds yesterday arguing that the third National Climate Assessment should change Republicans’ minds. Huntsman — who was the only member of the 2012 Republican primary field to maintain that man-made climate change is an established scientific fact — said again that Republicans would pay for making climate skepticism a party litmus test.
When it rains, it pours. When it’s dry, it’s parched. When it’s hot, it lasts. These are some of the impacts climate change is already bringing to the United States, with more extremes to come in the future, according to the National Climate Assessment report released yesterday. With 30 chapters, multiple appendices and a user-friendly website, the report comprehensively documents climate change impacts across the United States.
Customer orders for General Electric Co.’s advanced wind turbines have surged over the last 18 months, the company announced yesterday, in part because renewable energy developers responded aggressively to Congress’ one-year extension of the production tax credit (PTC) for wind energy. The rate of growth has been especially pronounced over the last 12 months, with new orders jumping from roughly 1 gigawatt of capacity in May 2013 to 3.9 GW of capacity today, according to GE. Most of that new capacity, 2.8 GW, will be completed or begin construction over the next 19 months and will use the company’s “brilliant” platform turbines. “We feel confident that, with our strong backlog of orders, we are strongly positioned for 2014 and 2015,” Anne McEntee, president and CEO of GE’s renewable energy business, said in a press release.
“Offshore wind offers a large, untapped energy resource for the United States that can create thousands of manufacturing, construction and supply chain jobs across the country and drive billions of dollars in local economic investment,” Energy Secretary Ernest Moniz said in a statement. “The Energy Department is working with public and private partners to harness this untapped resource in a sustainable and economic manner.”
The long-promised potential of offshore wind development along American coastlines took a step toward fruition on Wednesday as the Department of Energy pledged up to $47 million each to three projects it previously supported. The grants are intended to help the projects, off the coasts of New Jersey, Oregon and Virginia, begin delivering electricity by 2017. “Offshore wind offers a large, untapped energy resource for the United States that can create thousands of manufacturing, construction and supply chain jobs across the country and drive billions of dollars in local economic investment,” Ernest J. Moniz, the energy secretary, said in a statement.
The often-attacked Cape Wind offshore wind farm in Massachusetts’ Nantucket Sound scored another win in federal court Friday as a federal judge dismissed a lawsuit contending the state acted unconstitutionally by helping the project get a contract to sell electricity. “We are, at the moment, litigation-free,” said Cape Wind spokesman Mark Rodgers — a situation that the private developers have not experienced in “many, many years,” he added.
Some say that the visual impacts of wind turbines are “in the eye of the beholder.” But in Maine, a piece of legislation attempts to define when a wind farm mars the scenery and when it doesn’t. Recently, that law has been put to the test. A $100 million wind energy development in Maine proposed by the Boston-based company First Wind faces likely rejection by a state agency due to its effect on the surrounding area’s “scenic character.” Renewable energy advocates argue that such a decision could set a confusing precedent for future wind developers in the state. Last week, Maine’s Board of Environmental Protection delayed a decision to confirm or deny the state Department of Environmental Protection’s determination that the proposed Bowers Wind Project, a 16-turbine, 48-megawatt farm, would adversely affect views from the constellation of lakes, ponds and rivers that surround the project.
The Midwest has become a major energy producing region — with renewable energy. Like oil in Texas and coal in Wyoming, wind power and ethanol have become major industries in the Midwest. By tapping into its enormous renewable energy potential and manufacturing know-how, the Midwest has boosted the economy and created thousands of jobs. This progress is detailed in a new report from the Energy Foundation, which is featured as a “Postcard from the Future of Energy” by America’s Power Plan.
Iowa’s push for renewable energy has sparked a $10 billion investment in wind energy capacity, a new report shows. But what about solar? Jonathan Weisgall, Berkshire Hathaway Energy’s vice president of legislative and regulatory affairs, said Iowa and other Midwestern states are unlikely to see large utilities invest in solar energy without setting standards that require it. Weisgall said regulators must weigh costs more heavily than developing renewable resources when electric generation is added in the Midwest. And solar energy isn’t cost-competitive with wind.