renewable energy

Wed, 2015-02-11 16:44Mike Gaworecki
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Fossil Fuel Industry Funds Study That Concludes Fossil Fuel Divestment Is A Bad Idea

As of September 2014, 181 institutions and local governments as well as 656 individual investors representing more than $50 billion in assets had pledged to join the growing fossil fuel divestment movement, which seeks to take investments away from the oil, gas and coal companies that are cooking our atmosphere and reinvest that money in the development of a low-carbon economy.

This has, understandably, caused quite a bit of alarm amongst the fossil fuel set.

Enter Daniel Fischel, chairman and president of economic consulting firm Compass Lexecon, who recently published an op-ed in the Wall Street Journal called “The Feel-Good Folly of Fossil-Fuel Divestment” in which he discussed the findings of a forthcoming report that “indicates that fossil-fuel divestment could significantly harm an investment portfolio.”

Fischel goes out of his way to appear to have the interests of the poor universities called on to divest at heart: “Every bit of economic and quantitative evidence available to us today shows that the only entities punished under a fossil-fuel divestment regime are the schools actually doing the divesting,” he concludes.

You had to get past the WSJ’s paywall and then read to the bottom of the piece before you got to the most salient point: “The report discussed in this op-ed, ‘Fossil Fuel Divestment: A Costly and Ineffective Investment Strategy,’ was financed by the Independent Petroleum Association of America.”

Sat, 2015-01-24 10:58Guest
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Coal Casts Cloud Over Germany’s Energy Revolution

This is a guest post by Henner Weithöner originally published on Climate News Network.

The energy market in Germany saw a spectacular change last year as renewable energy became the major source of its electricity supply—leaving lignite, coal and nuclear behind.

But researchers calculate that, allowing for the mild winter of 2014, the cut in fossil fuel use in energy production meant CO2 emissions fell by only 1%.

Wind, solar, hydropower and biomass reached a new record, producing 27.3% (157bn kilowatt hours) of Germany’s total electricity and overtaking lignite (156bn kWh), according to AGEB, a joint association of energy companies and research institutes.

This was an achievement that many energy experts could not have imagined just a few years ago.

Tue, 2015-01-06 04:00Mike Gaworecki
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California Governor Proposes Most Ambitious Renewable Energy Target In U.S.

California Governor Jerry Brown used the occasion of his fourth inaugural address to propose an ambitious new clean energy target for the state: 50% renewable energy by 2030.

“We are at a crossroads,” Brown said in announcing the proposal, according to Climate Progress. “The challenge is to build for the future, not steal from it, to live within our means and to keep California ever golden and creative.”

Already the leader in installed solar capacity and third when it comes to wind power, the Golden State had previously adopted a Renewable Portfolio Standard mandate to procure 33% of its electricity from renewable sources by 2020, a goal it was easily on pace to meet.

Environmentalists were quick to applaud Governor Brown’s 50% by 2030 proposal, which would give California the most ambitious renewable energy target of any US state, eclipsing Hawaii’s 40% by 2030 target.

But given the current growth rate of California’s renewable sector, even 50% by 2030 might not end up being that ambitious, according to Abigail Dillen, Vice President of Climate and Energy for Earthjustice.

Tue, 2014-12-30 12:35Mike Gaworecki
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Top 5 Clean Energy Revolution Stories of 2014

The steady march of renewable energy, primarily wind and solar, toward mainstream usage continued apace in 2014.

Here are the top 5 clean energy revolution stories in the U.S. this year:

Sun, 2014-12-07 09:43Chris Rose
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Financing Climate Action Among Major Concerns in First Week of COP20 Climate Negotiations

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How to finance a global shift away from toxic greenhouse gases caused by burning fossil fuels was one of the key talking points during the first week of the annual United Nations climate change conference held this year in Lima, Peru.

The conference, which began Monday and is scheduled to end next Friday, started with a statement by Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), who said negotiators must draft a new, universal climate change agreement that will hopefully be endorsed next year at COP21 in Paris.

Figueres also said negotiators “must enhance the delivery of finance, in particular to the most vulnerable” as well as stimulating “ever-increasing action on the part of all stakeholders to scale up the scope and accelerate the solutions that move us all forward, faster.”

Fri, 2014-12-05 11:00Mike Gaworecki
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George Shultz, Reagan's Secretary Of State, On Climate Change: "The Potential Results Are Catastrophic"

George Shultz, who served as President Ronald Reagan's Secretary of State from 1982 to 1989, is not only willing to buck the Republican Party's orthodoxy on global warming by acknowledging climate science, he's outright calling for action. And he's even willing to walk the talk.

Shultz, a former University of Chicago economics professor and president of Bechtel, has installed solar panels on his house and drives an electric car around the Stanford University campus, where he’s a distinguished fellow at the Hoover Institution on War, Revolution, and Peace.

According to Bloomberg, Shultz’s climate awakening came when a retired Navy admiral showed him time-lapse footage of disappearing Arctic sea ice and “explained the implications for global stability.”

“The potential results are catastrophic,” Shultz says to his fellow Republicans. “So let’s take out an insurance policy.”

Fri, 2014-11-28 12:33Mike Gaworecki
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Walmart’s Reliance On Dirty Energy Responsible For 8 Million Metric Tons of Carbon Pollution Per Year

Recent revelations that the Walton Family, majority owners of Walmart, are funding attacks against the rooftop solar industry called into question the big-box retailer’s very public “100% renewable energy” commitment. A new report by the Institute on Local Self-Reliance (ILSR) documenting Walmart’s massive carbon emissions is likely to add even more fuel to that fire.

According to ILSR, which also exposed the Walton Family’s anti-rooftop solar initiatives, Walmart is one of the heaviest users of coal-fired electricity in the United States, resulting in 8 million metric tons of carbon pollution produced every year by the mega chain’s operations.

Since making its environmental commitments in 2005 with great fanfare, Walmart has done little to honor its pledge to transition to renewable energy and “be a good steward of the environment.”

Stacy Mitchell, a senior researcher at ILSR and co-author of the new report, wrote in April that Walmart's use of renewables peaked in 2011 and has slipped since then.

“Walmart’s progress on renewable power is particularly pitiful when you look at other retailers,” she added. “Staples, Kohl's, and Whole Foods, along with numerous small businesses, have already passed the 100 percent renewable power mark.”

Today, just 3% of the electricity powering Walmart’s U.S. stores comes from renewable sources.

Wed, 2014-11-19 17:45Mike Gaworecki
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Renewable Energy Loan Program That Funded Solyndra Is Paying Off

Despite the high-profile bankruptcy of solar panel maker Solyndra, the Department of Energy's renewable energy loan program is officially in the black as of September and now expects to earn as much as $5 to $6 billion.

According to a report released last week by the Energy Department's Loan Program Office, some $810 million in interest has already been collected on the $21.71 billion the program has loaned out so far. Solyndra and three other companies that failed after receiving funds from the program, meanwhile, accounted for $780 million in losses.

The $5-6B in projected earnings is calculated based on average rates and expected returns over the next 20 to 25 years. Michael Morosi, an analyst with Jetstream Capital, told Bloomberg Businessweek that that return is better than many venture capital and private equity investors, many of whom got burned by Solyndra along with the federal government, will see from their investments in renewable energy. “A positive return over 20 years in cleantech?” Morosi says. “That's not a bad outcome.”

According to the LPO report, 20 projects that received funds from the program are already in operation, generating revenue, and have begun paying back their loans (some $3.5 billion in loan principle has been recouped so far). Tesla Motors is perhaps the biggest success of the program so far, and it paid back its loan of $465 million last year—9 years early.

Thu, 2014-11-13 14:17Mike Gaworecki
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China-U.S. Climate Deal Is Historic, But On Its Own Is Not Enough

Despite the fact that they've been using the “climate action is useless because China won't act” canard as one of their favorite arguments for years now, Republicans' outraged response to the historic climate deal between China and the U.S. probably took noone by surprise.

Because that's the thing: it is historic. For the first time ever, China has agreed to put a cap on the emissions produced by its rapid, voracious economic expansion. While it's certainly not true that the U.S. taking responsibility for its share of global warming pollution wouldn't have had a meaningful impact anyway, it also can't be ignored that averting runaway climate change would be nearly impossible if China's emissions keep growing unabated.

But to say it's historic that two of the world's biggest economic superpowers—and the world's two largest carbon polluters, together responsible for nearly half of global emissions—have agreed to begin to lower their respective contributions to global warming is not the same thing as saying that the deal President Obama and Chinese President Xi Jinping struck is enough to get the job done.

The most important issue, of course, is the emissions targets themselves, which come nowhere near what climate scientists say are needed to prevent catastrophic warming. We must lower global warming pollution 80% below 1990 levels by mid-century, yet the US is still using 2005 as its baseline, and has only committed to lowering emissions 26-28% by 2025. China, meanwhile, needs to see its emissions peak by 2020, climate scientists say, but has only committed to doing so by 2030.

Thu, 2014-11-13 13:02Chris Rose
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G20 Governments are Spending $88B Each Year to Explore for New Fossil Fuels. Imagine if Those Subsidies Went to Renewable Energy?

oil change international, subsidies, oil gas exploration

Rich G20 nations are spending about $88 billion (USD) each year to find new coal, oil and gas reserves even though most reserves can never be developed if the world is to avoid catastrophic climate change, according to a new report.

Generous government subsidies are actually propping up fossil fuel exploration which would otherwise be deemed uneconomic, states the report, “The fossil fuel bail-out: G20 subsidies for oil, gas and coal exploration.”

Produced by the London-based Overseas Development Institute and the Washington-based Oil Change International the 73-page analysis also noted the costs of renewables is falling and the investment returns are better than fossil fuels.  

Every U.S. dollar in renewable energy subsidies attracts $2.5 in investment, whilst a dollar in fossil fuels subsidies only draws $1.3 of investment,” said the report released Tuesday, just days ahead of the G20 leaders meeting in Brisbane, Australia.

The report also notes the G20 nations are creating a ‘triple-lose’ scenario by providing subsidies for fossil-fuel exploration.

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