Tesla Motors Inc. took concrete steps this week toward launching a first-of-its-kind, large-scale battery production facility. CEO Elon Musk told investors yesterday he’s confident electric vehicles will match or beat the price of comparable internal-combustion-engine vehicles within the next 10 years. Auto industry experts believe that battery costs would have to drop to $100 per kilowatt-hour in order for electric vehicles (EVs) to have a distinct cost advantage over gasoline-powered cars. Tesla currently produces batteries for its 300-mile-range Model S all-electric sedan at roughly $250 per kWh.
Exelon Corp. owns one of the nation’s largest electric generating fleets, competing with the likes of NRG Energy Inc. and NextEra Energy Inc. But unlike those rivals, Chicago-based Exelon has no plans to pursue a “yieldco” to house its renewable assets, executives told analysts and investors during a conference call yesterday morning. “We’ve leaned more toward project financing, and we think that fits our needs better than a yieldco in the long term,” Chris Crane, Exelon’s chief executive, said on the call. “So we’re not heading toward a yieldco.” Yieldcos are just one method of equity financing for energy projects, but one gaining more traction in recent months
Analysts say they are a relatively safe way to invest in renewable energy — much safer, for example, than buying shares in notoriously volatile solar panel makers. Warren Buffet agrees. He’s invested $15 billion in the same type of wind and solar projects that yieldcos own, and he plans to double that amount.
President Obama officially named Cheryl LaFleur today to lead the Federal Energy Regulatory Commission until next April. The White House has designated Norman Bay to take over the chairmanship on April 15, 2015. LaFleur had been FERC’s acting chairwoman since the resignation of former Chairman Jon Wellinghoff last November. The unusual measure of having a chairman-in-waiting is the result of a tumultuous confirmation process for Bay, currently the head of FERC’s Office of Enforcement, and for LaFleur for a second term. LaFleur was officially sworn in this week. Bay still hasn’t been sworn in, according to FERC.
Tesla Motors Inc. and Panasonic Corp. are teaming up to build a battery manufacturing plant. The California-based electric vehicle maker and Japanese electronics giant will produce lithium-ion battery cells for EVs at a “gigafactory” in the United States, the companies said today.
Several thousand coal miners, other union workers and supporters flooded the streets here in opposition to U.S. EPA’s proposals to reduce carbon emissions from coal-fired power plants. Action in the streets, including a smaller presence by climate activists, overshadowed the agency’s daylong listening session on the regulations on the 13th and 15th floors of the federal building downtown. Police arrested more than a dozen union activists, including United Mine Workers of America President Cecil Roberts for sitting in front of the building’s steps in protest.
The Sierra Club also has a history of zeroing in on the Metro station that makes the most sense for its current mission. When the State Department was considering the Keystone XL pipeline, the group placed ads in the Foggy Bottom station, near the department’s headquarters. When the House was holding up a bill on a tax credit for wind energy, the group ran ads in the Capitol South station, on the House side of the hill. “We’re bringing our message directly to where the decision makers, to where the influential, are,” said Melinda Pierce, the legislative director of the Sierra Club.
Germany is now getting 28.5 percent of its electricity from renewable energy sources such as solar, wind and biomass, said the utility lobby BDEW. According to the lobby’s preliminary estimates, the amount of power from wind increased by 21.4 percent, while solar rose by 27.3 percent.
A team of Stanford University researchers, including former Energy Secretary Steven Chu, believes it has achieved the “holy grail” of lithium battery design: an anode of pure lithium that could boost the range of an electric car to 300 miles. Lithium-ion batteries are one of the most common types of rechargeable batteries on the market today. But most of the batteries — found in technologies like smartphones and electric cars — use an anode made of graphite or silicon.
A House panel today tussled over whether U.S. EPA’s premier greenhouse gas rule is an illegal effort by the Obama administration to reshape the electric power system or a stimulus for new industries.Rep. Cynthia Lummis (R-Wyo.), who heads a House Science, Space and Technology subcommittee, blasted the existing power plant proposal as a bid by EPA to “take control of our nation’s electric system without any legal or scientific justification.” “The rule has the potential to shut down power plants across the nation, raise energy prices and threaten energy security,” she said.