Time: Germany: 1 Million Electric Cars by 2020

“Although solar shares have underperformed so far, we believe lack of potential near-term catalysts, relatively rich valuation and weak seasonality could likely result in further downside pressure”

The plain fact is that it comes down to economics and we have seen these cycles after the energy crisis in the 70s. Subsequent lower prices in fossil fuels makes renewable energy alternatives less attractive. Add to this the renewed interest in natural gas brought about by new technoloigies that make “shale gas” extraction feasible. The result is a 39% increase in natural gas reserves in the US. But that is not a bad thing. Natural gas is likely the single most practical reseource for reducing carbon emissions in the US and is gaining mometum.

However, it is critical to point out that natural gas and renewables will need to work in harmony in order to reduce carbon emissions while meeting energy needs. As T. Boone Pickens has pointed out in his Pickens’ Plan, wind, solar and other renewables can offset electricity production along with natural gas. Natural gas can also be used in the transport network by converting and buying more natural gas vehicles.

Its important not to blame cheap, adundent natural gas for cycles that will ocurr in renewable energy sectors. Keep focused. Oil and coal are the target, and there is plenty of market share to be taken from these two resources. Wind, Solar, and natural gas industry leaders should come together to prepare a harmonized solution with the ultimate objective of reducing the consumption of coal and oil.

 If you missed David’s  posted link… here it is. Its worth a read.

Source: Reuters - Rebecca Cook

GM claims and unprecented 230 mpg  in city driving for their new Chevy Volt.

The Chevy Volt is a unique concept and approach to energy efficiencies. Recognizing the average commute in the US is less then 40 miles, the Volt runs on batteries for up to 40 miles then a small gas engine kicks in to recharge the batteries and run the car. The idea of focusing in on the 40 miles per day the Volt will have a significant impact on mileage as well as carbon emissions. Imagine if the US commute carbon free!

GM hopes the Volt will rid the Company of its image for producing gas guzzling cars and trucks and reposition the Company on the same level as Toyota for providing innovative vehicles that are sensitive to the environment. Chevy expects to put the car into second and third generation production in order to reduce the price which is currently targeted at $40K USD.

Reuters: GM claims unprecedented mileage rating for Volt

Magma Energy Corp.

“We want to build that as quickly as we can into a multi-billion size. It’s achievable. It’s not a crazy dream. How we do that is the ordinary method of building any resource company into a large company. We explore, we develop, we operate, we buy.”

Thursday Magma signed an agreement to buy up to a 16 per cent interest in HS Orka, a large power producing geothermal company in Iceland with installed geothermal power capacity of 175 megawatts.

The Canadian Press: Beaty’s ambitious growth plans for Magma Energy ‘not a crazy dream’

Jifan Gao, Chairman and CEO of Trina Solar stated:

“We are pleased with our results during the second quarter, which we believe reflect Trina Solar’s brand being recognized increasingly for its quality and performance by both our customers and their lenders. Our improved operating performance reflects a steady improvement in the global solar marketplace and a supportive regulatory environment, and supports the strength of our business model, as the overall cost of solar energy declines and the cost of ownership falls.”

PR Newswire: Trina Solar Announces Selected Estimated Second Quarter Results

Ed Miliband, the energy and climate change secretary, is quoted as stating:

“Earlier this month we laid out a transition plan to a low-carbon economy that included a massive expansion of green wind energy. The resources we are announcing back up our plans with clear actions to ensure we deliver. The money for the development of offshore wind manufacturing will help us generate green jobs on top of our success as the leading country in the world for the generation of offshore wind.”

guardian.co.uk “Wind power boosted by £1bn in new loans”

CBC: Atlantic Canada’s largest wind farm opens

The nanopillars allow the researchers to use cheaper, lower-quality materials than those used in conventional silicon and thin-film technologies. What’s more, the technique used to make the cells could be adapted to make rolls of flexible panels on thin aluminum foil, cutting manufacturing costs, says Ali Javey, an electrical-engineering and computer-sciences professor who led the work. The work is at an early stage, and “you won’t know the cost until you do this using a roll-to-roll process,” he says. “But if you can do it, the cost could be 10 times less than what’s used to make [crystalline] silicon panels.” Full article.

Solar farm in Germany

A German consortium of approximately 20 firms hopes to raise 400 billion euros (560 billion USD) to generate electricity for Europe in the deserts of north Africa using solar power. The project consortium will be lead by Munich Re and include Siemens,  and Deutsche Bank amoung others, and be known as Desertec according to the German newspaper Sueddeutsche Zeitung.

The plan is to develop and build solar power installations in several countries in Africa – provided they are politically stable – and transmit this power to the European market.

According to the newspaper article, Torsten Jeworek, a board member of insurance giant Munich Re, was “very optimistic” that other countries including Italy and Spain would join, and that there had been “positive signals” from North America as well.

The plan would be to provide around 15% of Europe’s electricity needs and have the first electricity flowing within 10 years generating 100 gigawatts of electricity.

The consortium members plan to meet in Munich on July 13 to set up the group formally.

Reuters: “Germans plan solar power project in Africa: report”