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Concentration of CO2 in the Atmosphere

November 2 Green Energy News

Investment and finance:

  • As renewable energy companies have grown and improved profits, their stocks have outperformed big oil by a wide margin. While ExxonMobil and Chevron showed declines in revenue, earnings from First Solar and SunPower have crushed everyone’s expectations. [DailyFinance]
  • World demand for electric vehicles is projected to increase 6.5% per year to $122.5 billion in 2017. In the mature motor markets of the US and Western Europe, growth in demand will be driven by rebounding motor vehicle production and a healthier fixed investment environment. [InvestorIdeas.com]

Science and Technology:

  • Industrial Technology Research Institute (ITRI), Taiwan’s largest high-tech applied research institution, has introduced the first biochemical technology for bio-butanol transportation-fuel production with a negative carbon footprint. It can achieve a transportation-fuel price of $2.00/gallon. [InvestorIdeas.com]

World:

  • Irish state-owned utility Bord na Móna has announced plans to establish a new wind energy export business, a clean energy hub which will generate 2 GW when operational and create an export business worth €1 billion in annual revenue. [Renewable Energy Magazine]
  • Iran plans to widely expand its use of renewable energy, according to Iranian Deputy Energy Minister Houshang Falahatian. Iran’s private sector will build 600 wind power turbines by the end of the current Iranian calendar year (March 20, 2014). [Tehran Times]
  • Some 300 million manats (about $380 million) have been invested in the development of alternative and renewable energy sources in Azerbaijan. The plan is to achieve 20% renewables by 2020, which will cost about 7 billion manats ($8.9 billion). [AzerNews]

US:

  • The Skylands Sierra Club Group will host a presentation about an initiative called NJ FREE, a renewable energy policy plan for New Jersey, seeking adoption of a state requirement for 80% renewable electricity by 2050, with an intermediate requirement of 30% by 2025. [The Advertiser News South]
  • A new report from Progress Now says that of the 37 bills introduced in 2013 attacking states’ renewable portfolio standards, which set minimum levels for power from renewable sources like solar and wind, only one had any success, and that was partial. [Huffington Post]
  • Duke Energy has established a group that will determine how to develop and operate solar projects at its regulated utilities. The utilities currently purchase some renewable energy, but they own almost no generating capacity of their own. Duke expects that to change. [Charlotte Business Journal]
  • As part of the international Open Government Partnership, which President Obama formed in 2011, he announced the US will start publishing annual totals of federal subsidies for fossil fuels. There are 60 countries participating in the Open Government Partnership. [SustainableBusiness.com]

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