CleanTechnica

Asia is investing hundreds of billions of dollars more than the US in clean technology, according to a new report by two research institutions. In the future, the US may be importing trillions of dollars of needed clean technology (and losing countless jobs to Asia) as a result.

In total, the report showed that China, Japan, and South Korea will invest about $509 billion in clean tech over the next 5 years, whereas the US (with our greenest President in decades, maybe ever) is only expected to invest $172 billion (about 3 times less) — this is assuming the climate and energy legislation in Congress passes.

If the US were to invest the same percentage of its Gross Domestic Product (GDP) as South Korea, it would invest almost $140 billion per year ($700 billion over this five year period)! Compared to China, the anticipated per-GDP investment ratio is 1:4 (US to China).

In 2008, Japan almost matched US R&D spending on energy and achieved almost the same number of international clean energy patents despite having dramatically lower GDP.

The financial investment is not the only thing giving these countries a major advantage in this field, though.

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DOE’s new renewable energy Venture Capital unit ARPA-E has just funded an entirely new kind of liquid battery innovation from MIT professor Donald Sadoway, that works like an aluminum plant running in reverse; producing power instead of consuming it.

Under the ARPA-E program at the DOE, the Obama administration has provided record-setting funding for advanced breakthroughs in renewable energy technology - that could propel America to the front of the post-oil age economy.

Just 37 technologies were selected for their potential transformational impact in the world, out of 3,600 applicants. Of the 37 winners; Sadaway’s has received the most funding; with $7 million.
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The normally conservative International Energy Agency is now saying that we must act faster to prevent climate change. Not only to prevent catastrophe, but also because the longer we wait, the more difficult and expensive it becomes to achieve the greater and greater cuts that are necessary to keep worldwide temperature rise to 2 degrees Centigrade or a 3.8 degrees Fahrenheit global average.

2 C is the least we can realistically hope and aim for now. This would be less disastrous than the 4 C or the completely catastrophic 6 C (10.8 F) average worldwide temperature rise we would headed for under a business-as-usual continuation of current overall trends in carbon emissions.

Faith Birol, the IEA Chief Economist at the International Energy Agency said that the world must speed up the reduction in fossil energy use and make a transition faster to clean renewable energy, not only because because of climate change but because of growing problems within our energy system and possible implications for the global economy.

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Kyoto legislation worked. The EU is on track to meet - and actually exceed the carbon emissions target it set of 8% reductions below 1990 levels by 2012, the Commission’s annual progress report on emissions shows. The EU-15 (the first fifteen signatories) will meet and exceed their initial target to get 8% below 1990 levels and 10 of the remaining 12 member states will meet and exceed their reduction goals of 6% below 1990 levels by 2012.

This contrasted with economic growth of around 44% over the same period, through 2007. Currently, as of 2009; EU-27 emissions are now estimated to be 13.6% lower than the base year level 1990.
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An inter-agency work group headed by the White House Office of Management and Budget is trying to find the real cost of a ton of carbon emitted. It turns out to be a hard number to agree on.

Would our grandchildren really miss Florida if it was under water? How about no more fruit or nuts from California? What about the loss of our breadbasket? Would the end of corn and soy from the Midwest really bother the grandchildren of our children? How much?

Cost/benefit analysis. Economists do it all the time. So, just what is the cost to society of a ton of carbon?  The Institute for Policy Integrity consulted 144 top economists and released the result: (pdf) Economists and Climate Change: Consensus and Open Questions. By sensibly limiting the sample to economists with the most expertise on climate change, the survey was able to avoid the ignorance of economists who have not studied climate change.

84 percent agreed that the environmental effects of greenhouse gas emissions, as described by leading scientific experts, create significant risks to important sectors of the United States and global economies. A near unanimous 98 percent agreed that putting a price on carbon through a tax or cap-and-trade will increase incentives for efficiency and innovation. 55% preferred a tax, and 35% preferred cap-and‐trade.

But they came up with very widely divergent numbers for both the costs and the benefits. The cost estimates ranged from $10 a to $10 million a ton, with a median of $50 a ton. The benefits of prevention also ranged between $383 billion and $5.5 trillion over the next five decades.

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Renewable Funding’s PACE (Property Assessed Clean Energy) solar funding, begun by Cisco DeVries with Berkeley First was a breakthrough in making solar affordable. Now VC high-flyers Draper Fisher Jurvetson, New Cycle Capital, and RWE Ventures have just invested $12.2 million in a first round of financing to make this sober and sensible solar funding available to more homeowners.

Renewable Funding is a business in the Common Good. And it could be big too. There’s potentially a gigaton of greenhouse gas reductions to be made, at no cost to local, state, or federal governments from a $280 billion potential market in PACE solar funding in the US, acording to a UC Berkeley study published in Environment Magazine.
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As the Senate version of pending climate legislations, Kerry-Boxer’s CEJAPA, heads for mark-up on Tuesday, voices calling for $15 billion annually for clean energy research and development are starting to gain traction. Earlier this week, Google’s Director of Climate Change and Energy, Dan Reicher joined the ranks of think tanks such as, Brookings Institution, Third Way, and the Breakthrough Institute, not to mention President Barack Obama, when he called on the Senate EPW committee to include this funding in the bill.

According to Reicher’s testimony (emphasis in original):

“Chairman Boxer, it is essential that Congress address this serious energy R&D short-fall by incorporating President Obama’s goal of $15 billion per year in federal energy R&D spending in final climate legislation.”

This testimony followed on the heals of a letter and discussion paper from the nation’s leading universities to Senate Majority Leader Harry Reid, emphasizing the need for a bottom line investment of $5 billion dollars annually in R&D, significantly more than would be allocated under both House and Senate version of climate and energy legislation. Read the rest of this entry »

Renewable energy comprised more than half the energy added this year to the Northeast grid, comprising part of Canada and 6 US states. 17 GW of renewable energy projects in the region will be completed in the next five years.

It is no coincidence that each of these states has a state renewable portfolio standard which requires utilities to add an increasing percent of renewable power to the grid each year. New York’s RPS requires 24% by 2013, Maine:40% by 2017(met), Vermont:20% by 2017, New Hampshire:16% by 2025, Rhode Island:16% by 2019, and Connecticut:27% by 2020 )

The Renewable Portfolio Standard is a sure way to get more homegrown climate-friendly renewable power on the grid and is up for votes yet again this year (in the American Clean Jobs & American Power Act) after multiple previous attempts to pass it.
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Earlier this month, Governor Schwarzenegger signed legislation to buy solar power from relatively small private generators for rates above market value. Hawaii is next in line with this European-style tariff — the Hawaii Public Utilities Commission and Governor Lingle just recently set a similar initiative for Hawaii.

Hawaii’s initiative will make it possible for homeowners and businesses to sell power they generate from small to medium-scale renewable energy projects (i.e. solar panels) to Hawaii’s main power producers at higher than market-value rates.
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A contract has just been signed to deliver 600 gigawatthours a year of solar power between the US division of Spain’s giant Abengoa, and PG&E in California. Abengoa Solar hopes to succeed where BrightSource recently failed to overcome local NIMBY issues and Senator Feinstein, in its plan to site a 250 MW solar thermal plant in the made-for-solar Mojave Desert.
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