It was just last summer that SunEdison was a Wall Street darling, the very air around the fast-growing company seeming to shimmer with potential. SunEdison was, after all, a red-hot company in a red-hot space — renewable energy. Its market capitalization reached nearly $10 billion, putting it on a par with the likes of Wynn Resorts of Las Vegas. Among the believers betting on its stock was the hedge-fund heavyweight David Einhorn of Greenlight Capital. With plans to buy Vivint Solar for $2.2 billion, SunEdison appeared unstoppable.
Secretary of State John Kerry cast the signing Friday of the landmark Paris climate agreement as a spur toward victory in a decadeslong war on global warming. “Knowing what we know, this is also a day to recommit ourselves to actually win this war,” Kerry told the U.N. General Assembly. “While it isn’t done yet, today we are on the march.”
On April 19, the House Appropriations Committee passed the energy and water spending bill with a few controversial riders. Last week, a clean measure passed unanimously through the Senate Appropriations Committee (S.2804).
Debate will resume this afternoon, with a vote slated for 5:30 p.m. on an amendment by Sen. Patty Murray (D-Wash.) to bar the administration from spending money on welded shipboard anchors and mooring chains unless they comply with federal acquisition rules, which require that such products to be made in the United States. Tomorrow morning, the chamber will vote on an amendment by Sens. Jeff Merkley (D-Ore.) and Chuck Grassley (R-Iowa) to add $95 million for wind energy. The proposal faces opposition from Energy and Water Development Appropriations Subcommittee Chairman Lamar Alexander (R-Tenn.), a longtime critic of federal support for wind.
For all the signs of progress and political will, however, new challenges to implementing the accord have arisen just since December. Outside experts also say the countries’ bare-bones plans are still far from enough to keep global warming to tolerable levels. No country has shared a detailed, credible strategy to achieve what scientists think is necessary: ending the era of fossil-fuel emissions and converting entirely to clean energy no later than the middle of this century.
More than half of the United States’ population — or 166 million people — live in counties with unhealthy levels of air pollution, the American Lung Association said in findings released yesterday. Even so, the advocacy group’s latest “State of the Air” report offers grounds for optimism, noting that most cities showed “strong improvement” in reducing levels of ground-level ozone and fine particle matter.
The Fish and Wildlife Service has completed a yearslong analysis of potential impacts to bald and golden eagles of authorizing construction of the first 500 turbines in a southeast Wyoming project that’s projected to become one of the world’s largest wind farms. The draft environmental impact statement (EIS) does not name a preferred alternative out of four choices studied for the first 500 turbines that comprise phase I of the Chokecherry and Sierra Madre Wind Energy Project.
Officials from the Department of Energy took a victory lap yesterday after the Senate passed the first energy bill in nine years and world leaders prepared to sign a climate accord that could help double America’s clean energy spending. In a packed room on Capitol Hill, DOE hosted National Laboratory Science Day, with scientists from the department’s 17 laboratories across the country presenting their research to lawmakers with hands-on demos and presentations.
SunEdison Inc, once the fastest-growing U.S. renewable energy company, filed for Chapter 11 bankruptcy protection on Thursday after a short-lived but aggressive binge of debt-fueled acquisitions proved unsustainable. In its bankruptcy filing, the company said it had assets of $20.7 billion and liabilities of $16.1 billion as of Sept. 30.
A solar plane on an around-the-world journey has reached the point of no return over the Pacific Ocean after departing Hawaii, and now it’s California or bust. The plane was cruising over the cold northern Pacific late Thursday at about 20,000 feet with a nearly-full battery as night descended, according to the website that’s documenting the journey of Solar Impulse 2.