What is more, the investment boom could help Chinese companies gain share in new, high-tech markets where they did not compete before. In the wind energy industry, for example, China now has about 6 percent of world exports, up from almost zero five years ago. Still, China has not adopted many of the reforms that economists suggest are needed to lay the groundwork for a new phase of development that relies less on exports to other countries and depends more on the spending of the Chinese themselves. To do this, wages and incomes must rise.
Large wind farms might have a warming effect on the local climate, a new study suggests, casting a shadow over the long-term sustainability of wind power.
Lagging investment in the nation’s electric power system could lead to a $107 billion funding shortfall for essential new generation and transmission lines by the end of the decade. That gap could grow sevenfold, to nearly $732 billion, by 2040, according to a new report from the American Society of Civil Engineers. The report, one of a series updating ASCE’s 2009 “Report Card for America’s Infrastructure,” concludes that such shortfalls could have major economic implications for U.S. homeowners and businesses as they are forced to cope with higher electricity prices and other costs associated with an inefficient electricity system.
Responding to criticism from an industry lawyer, the Justice Department’s top environmental crimes prosecutor yesterday mounted a foreceful defense of the government’s enforcement of a law that criminalizes the killing of migratory birds.
Renewable energy development has been slow to take hold in the Southeast, but that hasn’t stopped one of the region’s dominant utilities, Duke Energy Corp., from significantly expanding its renewables footprint, even if it has to go to Texas, Kansas and Arizona to do it. Yesterday, Charlotte, N.C.-based Duke announced it had secured financing for 299 megawatts of new wind power generation in southwestern Kansas that it will build in a 50-50 joint venture with Sumitomo Corp. of America, a subsidiary of Japan’s Sumitomo Corp.
A coalition of Nebraska environmental and farm groups called on the state’s largest utility to develop more wind power to address future energy needs instead of relying on coal-fired power plants. The group said Thursday that the Nebraska Public Power District should consider clean energy alternatives rather than spend $1.5 billion to retrofit existing coal-fired power plants to deal with new environmental regulations.
A “perfect storm” of economic and regulatory factors is driving major United States utilities to rapidly switch from coal to natural gas as an electric power source, the top executive of one of the nation’s largest utilities said on Thursday.
A leading House Republican said yesterday that he is open to extending a key tax credit for the wind industry that is set to expire at the end of the year but that he wants to hear more from industry leaders on how many more years they will need the government’s support. The production tax credit for wind energy was one of the most popular topics of discussion yesterday at a House subcommittee hearing on a variety of temporary tax breaks that will disappear at year’s end unless Congress intervenes.
NV Energy Inc. has pulled out of a major Idaho wind energy project after environmental studies showed it could have “more than minor adverse effects” on the population of imperiled sage grouse.
Supporters of a bipartisan effort to protect the American wind energy industry say that 37,000 U.S. jobs will be at risk this year if Congress fails to extend the production tax credits that have been vital to wind power development. The call for Congress to pass HR 3307, the American Renewable Energy Production Tax Credit Extension Act, was made during a teleconference hosted by three members of Congress, the American Wind Energy Assn. and TPI Composites, a Newton, Iowa-based wind blade manufacturer.