U.S. investments in turbine farms and wind-energy businesses tumbled 38 percent last year to $9.7 billion, according to data from Bloomberg New Energy Finance. Venture capitalists have practically left the sector altogether. They invested only $177.6 million in wind startups last year, down 71 percent from the year before.
Governor Terry Branstad will open the Iowa Wind Energy Conference which runs through April 9-11 at the Iowa Events Center in Des Moines.
Seeing a sharp decline in the cost of building wind turbines on land and growing comfort with the technology, the Department of Energy is shifting its money toward offshore wind farms. DOE said in a funding announcement yesterday that it intends to give out $180 million over the next six years, including $20 million this year, to as many as four offshore wind projects that could help drive down the cost of offshore wind farms and reassure financiers about their value.
Sen. Jeff Bingaman (D-N.M.) today unveiled legislation aimed at boosting the nation’s reliance on low-carbon energy sources and to help meet President Obama’s goal of generating 80 percent of the country’s electricity from “clean energy” sources by 2035.
With gasoline prices at historic winter highs, President Obama made his second major energy address in as many weeks today, decrying “phony election-year promises” about quick fixes and warning there is no “silver bullet” on energy issues.
Energy Secretary Steven Chu spent the afternoon on Capitol Hill defending President Obama’s proposed DOE budget for next year, but his agency’s research programs got firm support earlier in the day from Microsoft Corp. founder Bill Gates. Energy development programs deserve twice as much money as they get now, Gates said during a panel discussion with Chu.
Despite Mayor Michael R. Bloomberg’s long-expressed dream of putting wind turbines on skyscrapers and bridges, the constraints of an urban landscape have so far proved too challenging for reliable wind power in the city, energy experts said. As a result, New York City has been largely inactive — and behind the national curve — in embracing wind power. But that is about to change. This spring, the city’s Department of Environmental Protection will solicit plans for the first major wind project, the installation of turbines atop the Fresh Kills landfill in Staten Island. And city planners are working on zoning changes, now under review by the City Planning Commission, to allow turbines up to 55 feet high on the rooftops of buildings taller than 100 feet, and even taller turbines on commercial and industrial sites along the waterfront.
Renewable power generation from the wind and the sun promises higher energy costs, less reliable infrastructure and, ironically, more pollution, according to a report from the American Enterprise Institute (AEI). These problems form “the perfect green trifecta,” according to the report’s author, Benjamin Zycher, a visiting scholar at the think tank. Speaking at AEI’s offices in Washington, D.C., last week, he presented findings from his study titled “‘Renewable’ Electricity Generation — Economic Analysis and Outlook.”
The production tax credit (PTC) for renewable energy didn’t shrivel up and blow away when Congress failed to include an extension with tax legislation passed earlier this month. The wind industry, which says development will grind to a halt without the PTC, is continuing to push for an extension, and is doing so with what appears to honest-to-goodness bipartisan support.
The wind power industry in the United Kingdom has come in for a political spanking in recent weeks over costs, aesthetics and necessity, but it has shrugged it off and gone on with its ambitious program. There has always been a well-organized, vocal campaign against onshore wind farms here, with opponents calling the giant wind turbines unsightly and a blight on England’s green, rolling countryside. But objections escalated earlier this year when more than 100 parliamentarians from the senior coalition government party, the Conservatives, signed a petition calling for a cut in subsidies.