As federal support for clean energy technologies is projected to decline precipitously by 2014, three prominent think tanks are pushing a new pathway that would free renewable energy industries from the boom-and-bust cycle of policy dependence by rejiggering incentives to reward technologies that can compete with traditional fossil fuels absent government support.
Clean energy technology has grown robustly and come down in price in recent years, driven by hefty government stimulus spending, expectations of future regulation and substantial private investment. But that technology is going to fall off a cliff unless government steps in quickly to revitalize the solar, wind, nuclear, battery and clean vehicle sectors with new spending and federal policy, according to a new study from three research groups.
The global wind energy market is heading for a downturn next year as the expiration of the U.S. production tax credit casts a pall on the industry, the Global Wind Energy Council (GWEC) said in a new forecast yesterday.
Folks here were happy enough when HZ Windpower of Chong-qing, China, dedicated two 2-megawatt wind turbines Wednesday, but the locals have their eye on a much bigger prize. HZ is looking for a site in the U.S. to build blades, towers and other components for wind energy. Nevada, whose motto is “Where Renewable Energy is Happening,” thinks it is just the spot for an HZ plant and laid out a welcoming lunch for the company’s officials at Indian Creek Country Club.
Environmental groups have filed a lawsuit to block a wind farm in Southern California they claim would threaten endangered condors, protected eagles and other sensitive species.
Global wind energy capacity is expected to double by 2016 as installations continue to grow in newer markets like India and Brazil, with world capacity reaching 493 gigawatts in 2016, the Global Wind Energy Council said in a report released today.
Wind and solar will struggle in the short term but will thrive eventually as the world moves toward clean power, financial experts predicted yesterday. Renewable energy companies will struggle for the next year or more because there’s investor unease with the sector, said experts who spoke at Fortune magazine’s Brainstorm Green conference.
After dropping for two years during the recession, emissions of the gases blamed for global warming rose in 2010 as the economy heated up, the Environmental Protection Agency reports. Output of carbon dioxide and other heat-trapping gasses were up 3.2 percent from 2009 as the nation climbed slowly out of the deepest economic downturn since the Great Depression, the E.P.A. said.
The U.S. natural gas futures contract for May delivery remained under $2 per million British thermal units at the end of last week, another 10-year low for gas as supply continues to outpace demand.
Three years after President Obama promised that millions of “green jobs” would sprout from $90 billion in stimulus spending earmarked for clean energy, only a small fraction have materialized. Supporters say the administration overpromised on the potential for job creation and worry that backlash could erode support for overall renewable energy policies.