Some of the largest battles at November’s United Nations climate conference, COP22, broke out over climate financing – who pays for it, who gets the money, and who meets the requirements. The stage for the financing challenges was set in 2009 when developed countries agreed to a target of raising $100 billion USD annually by 2020 in the Green Climate Fund (GCF).
The presidential election of Donald Trump complicates the potential of the United States Green Bank Act (H.R. 5802, S. 3382). The act, sponsored by Senator Chris Murphy (D-CT) and Representative and Senator-Elect Chris Van Hollen (D-MD), is intended to offer additional financial structures to deploy clean energy and energy efficiency across the nation in the face of climate change.
Given the ongoing uncertainty about integrating renewable energy into the United States generation portfolio, investors will continue looking more and more to state governments and the private sector to lead the transition away from carbon-based fuels.
What are the advantages of siting renewable energy on brownfields that corporations own? An article by lawyers at the firm Sullivan & Worcester, “Unlocking the Clean Energy Value of Dormant Corporate Properties,” highlights the potential financial and environmental benefits of repurposing old industrial and manufacturing properties as locations for corporations to generate renewable energy.
A July report by MIT Energy Initiative, “Venture Capital and Cleantech: The Wrong Model for Clean Energy Innovation,” has compared the performance of venture capital (VC) in the software, medical and cleantech sectors. The results showed VC is not the right model for investments in the cleantech sector. Public funding is crucial at the beginning of projects.
United States Secretary of State John Kerry walked to the stage at COP22 on Nov. 16 in Marrakech, Morocco, turning to face the stuffy conference room filled with excited smiles, furrowed brows, and determined eyes. The inspiring speech focused on his hopes and fears for the future of action on climate change.
In Australia, Europe, and North America, energy companies are beginning to consider using blockchain technology for distributed-generation payments between small solar installations. A blockchain is a shared digital decentralized ledger that records transactions across a peer-to-peer network. Blockchain technology involves strong encryption.
Massachusetts’ new energy bill is an expansive approach to diversifying the state’s energy sources away from natural gas (H. 4568). This bill, which passed on Aug. 8, helps the state achieve its target of cutting emissions by 25 percent below 1990 levels by 2020. This goal is part of the 2008 Global Warming Solutions Act.
At a public event in Boston on June 11 called "Designing Solar’s Value: A Stakeholder’s Forum," speakers outlined an ambitious proposal to shift the entire framework of solar financing in Massachusetts to a value-of-solar model. The newly founded Northeast Solar Energy Market Coalition (NESEMC) cosponsored the event, which was hosted by Solar Energy Business Association of New England (SEBANE).
Greentech Media’s first international Solar Summit, held on Jan. 27-28 in Mexico City, left more questions than answers about the future of solar in Mexico. Speakers said that the solar markets are in flux at all levels of development. The country is far from reaching a steady state. Developers who are willing to take risks could enjoy huge payoffs but must first face significant regulatory uncertainty.
A joint committee of Massachusetts senators and representatives is approaching a decision on the future of solar power. The decision will determine how to modify net metering, an incentive policy that is critical to most solar projects' financial viability. Meanwhile, utilities are unable to plan for their systems and developers have been forced to ice projects at all stages.
While making strong motivational statements at the 2016 Investor Summit on Climate Risk in New York City on Jan. 27, speakers also laid forth an ambitious set of targeted goals to implement the Paris climate conference’s agenda. These goals included implementing climate disclosure requirements; advocating for stable, economically meaningful carbon pricing; ceasing investment in coal; leveraging pension funds; scaling up green banks; clarifying what constitutes a green bond; and analyzing risks on an industry-by-industry basis.
Eden Full Goh discovered the potential of solar power when she was just 10 years old. She had come across a book in the library that taught her how to build a small solar-powered car. Once she took the book home and built it, she was hooked. She wanted to see what else she could do with this...
They appear periodically, but predictably - media reports about the powerful, corporate utilities seeking to block consumer access to rooftop solar and maintain control of the grid versus the plucky, disruptive solar companies, fighting to bring clean, free power - and energy independence - to the...