A personal quest to promote the use of wind energy and hydrogen technology in the Great Lakes area of the United States. The Great Lakes area is in a unique position to become an energy exporting region through these and other renewable energy technologies. *Update 2014: Just do it everywhere - Dan*
Thursday, June 16, 2016
Study: Renewable power plant investment to soar
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Study: Renewable power plant investment to soar | IRENA: 1.1 million people work in wind-related fields | Grassley: Lobbyists opposed to wind tax credits are guilty of a double standard
Wind and solar installation in Calif. (Kevork Djansezian/Getty Images)
Power plants fueled by renewable energy will account for two-thirds of all electricity generation investment between 2016 and 2040, says a report by Bloomberg New Energy Finance. Renewables will receive $7.8 trillion in investment, compared with $1.2 trillion for new coal plants and $892 billion for new gas-fired units.
The number of people working in wind-related fields globally climbed to 1.1 million in 2015 -- an increase of 5% from the previous year, according to the International Renewable Energy Agency. Global Wind Energy Council Secretary General Steve Sawyer attributed the increase to the growing number of wind installations in the US, China and Germany, and said the industry added about $110 billion to local economies last year. The report also forecast that the cost of renewable energy development would continue to decline over the next decade, with offshore wind costs declining by as much as 35%.
Sen. Chuck Grassley, R-Iowa, accused US Chamber of Commerce's Institute for 21st Century Energy CEO Karen Harbert and other lobbyists opposed to tax credits for wind energy of employing a double standard. These lobbyists condemn "subsidies for one type of energy while disregarding market-distorting benefits provided to other sources," he said after a Senate Finance Committee hearing on Tuesday. During the meeting, Harbert testified that the wind energy Production Tax Credit discourages investment in fossil fuels and nuclear.
Iberdrola has agreed to sell a 245-megawatt portfolio of wind farms and a pair of subsidiaries in Italy to CEF 3 Wind Energy in a $217.3 million deal. The company said that the divestiture would allow it to focus on growth opportunities in the US, UK, Mexico, Brazil and Spain. The company has pledged to spend $8.9 billion on renewable energy development by 2020.
Gamesa has won a contract to supply the Vapat Group with operations and maintenance services for a seven-year period. The deal will cover the company's 216-megawatt portfolio in Spain. The agreement is a renewal of a 2010 contract between the duo.
John Faulkner, a rancher in Gooding, Idaho, has proposed a renewable energy project that would incorporate wind, solar and hydroelectric power. If approved, the Cat Creek Energy project would consist of a 50,000-acre-foot reservoir, a 3.4-mile dam, a 110-megawatt wind farm and a 40-MW solar project. The project would produce power first by hydroelectric generation and secondly by using the wind and solar projects to pump flood water and recycled dam water back into the dam from the reservoir.
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Marking its 30th anniversary in China, Vestas Wind Systems will introduce its 3-megawatt platform to the Chinese market. The turbines will go into production next year at the existing Vestas turbine factory in Tianjin, China. The machines will be used in China and throughout the company's global supply chain.
Siemens and Gamesa unveiled plans to combine their wind assets in February. Sources say that the companies are nearing the end of discussions on the matter and could release details as early as this week. One major roadblock, say observers, has been the future of Adwen, a joint venture between Gamesa and Areva.
South Africa has a huge potential for wind energy development, said Nordex CEO Lars Bondo Krogsgaard. He said that Nordex, which operates several wind farms in South Africa, is interested in more opportunities for growth in the country. "We see significant potential for wind energy in SA. You need the power and we can provide power into the South African grid (at a very competitive price)," he said.
Oklahoma's tax policies have encouraged wind development in the state, according to Wind Coalition Executive Director Jeff Clark. The state's tax credits for wind came under fire during a state finance meeting on Tuesday when state Secretary of Finance, Administration and Technology Preston Doerflinger said they divert funds from Oklahoma's General Revenue Fund. "We're building a diverse, cleaner, cheaper, modern power generation fleet, and Oklahoma is perfectly positioned to lead and prosper from it," said Clark.
It's June 15, which means it's once again time to celebrate Global Wind Day. And there's a lot to be happy about this year. Here are the five things we're most excited about as we reflect on the state of global wind energy. Read more