BETTER THIN FILM SOLAR WITH CHEMISTRY

First Solar and Intermolecular Announce Joint Program to Accelerate Solar PV Roadmap; Collaboration Will Leverage Intermolecular's High Productivity Combinatorial Platform Towards Achieving Higher CdTe Solar Panel Efficiencies

June 11, 2012 (GlobeNewswire via MarketWatch)

“First Solar, Inc…and Intermolecular, Inc.. announced a collaboration and licensing agreement aimed at accelerating the efficiency roadmap for First Solar's cadmium-telluride (CdTe) photovoltaic (PV) technology. First Solar is the world's largest thin film PV solar module manufacturer and the leader in thin film PV utility-scale solar power plants.

“…First Solar will leverage Intermolecular's High Productivity Combinatorial (HPC) platform in the development of its advanced, CdTe-based, thin film PV manufacturing technology…[through] new opportunities in certain critical materials and processes that may significantly influence the conversion efficiency of CdTe technology. Technical work is to be performed jointly at Intermolecular's San Jose, Calif., facility and in First Solar's research and development labs…”

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“First Solar set a new world record for CdTe PV solar module efficiency in January 2012, achieving 14.4 percent total area efficiency. In July 2011, the company set a world record for CdTe PV cell efficiency at 17.3 percent. Both records were confirmed by the U.S. Department of Energy's National Renewable Energy Lab (NREL)…

“Intermolecular's mission is to improve R&D efficiency in the semiconductor and clean-energy industries through collaborations that use its HPC platform, which allows R&D experimentation to be performed at speeds up to 100 times faster than traditional methods…”

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JP MORGAN, WELLS, GE, MET LIFE BACK OKLAHOMA WIND

JPMorgan, Wells Fargo, GE and MetLife to Fund Oklahoma Wind Farm

Andrew Herndon, June 6, 2012 (Bloomberg BusinessWeek)

“…JPMorgan Chase & Co. (JPM) (JPM), the largest U.S. bank, Wells Fargo & Co. (WFC) (WFC), Metropolitan Life Insurance Co. and General Electric Co. (GE) (GE)’s GE Capital unit will [provide $220 million in tax-equity financing for an Oklahoma wind farm] in the fourth quarter, Enel SpA (ENEL), the project developer, said…

“The 235-megawatt Chisholm View wind farm is expected to begin producing power by the end of the year. It will use 140 GE wind turbines and sell its output to Southern Co.’s Alabama Power utility for 20 years.”

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“The deal lets the investors receive a share of the tax benefits associated with Chisholm View…That includes the production tax credit, which provides 2.2 cents a kilowatt-hour for power produced by wind…The tax credit is scheduled to expire Dec. 31, though projects that enter operation before then will remain eligible.

“A different GE unit agreed April 2 to purchase a 51 percent stake in the project. Rome-based Enel will own the remaining 49 percent…”

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A NEW INVESTMENT FOR BACKING NEW ENERGY

UPDATED: New Legislation Could Unlock Billions Of Dollars In Wind Energy Investment

Laura DiMugno, 7 June 2012 (North American Windpower)

“…According to the [Levelinbg the Playing Field; The Case for Master Limited Partnerships by SMU’s Maguire Energy Institute], federal tax-code restrictions currently limit investment in renewable energy infrastructure by $5 billion to $6 billion while, at the same time, prohibiting thousands of jobs from being created.

“If the federal production tax credit for wind energy is not renewed beyond the end of this year, up to $15 billion in private investment could disappear. Absent support for renewables at the federal level, the market will have to find other ways to keep the industry afloat and the capital flowing…One way to secure that investment could be through master limited partnerships (MLPs), in which regular investors are allowed to purchase shares in publicly traded partnerships just like stock shares. MLPs have been a key investment tool in the oil and gas industries since the 1980s, but they are not currently available to renewables such as wind power.”

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“MLPs have been quite successful in the energy sector, and as a result, their use has increased dramatically over the past couple of decades. According to the report, in 1996, there were just 12 MLPs, with a market capitalization of about $8 billion. By 2011, those numbers had grown to 75 MLPs representing over $270 billion in market capitalization…Eighty percent of MLPs are in the energy sector, according to the report, but renewables are currently excluded [and it would take congressional action to modify the current tax structure to make this new opportunity available to them].

“The study’s authors used financial modeling to expand the MLP structure to include renewable energy, and the results were astounding: Opening up MLPs to renewables could lead to an additional $3.2 billion to $5.6 billion in investment between now and 2021…MLPs are a strong fit for renewable energy investments because power purchase agreements for wind and solar projects are generally long-term contracts that offer cash flow stability…MLPs could also encourage utilities to invest in renewables, because MLPs currently trade higher than traditional utility stocks...”

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WIND AND BIRDS

EarthTalk: Wind power and bird strikes

June 9, 2012 (The Norwalk Hour)

“…Bird collisions have been one of the primary negatives of the recent growth in wind power across the United States and beyond…[In response,] the [U.S. Fish and Wildlife Service, USFWS] released new federal guidelines in March 2012 for land-based wind developers trying to avoid or minimize impacts to birds and their habitats. The guidelines are voluntary at this point, but U.S. wind developers interested in a smoother ride through various permitting processes and the blessing of environmental groups…are doing their best to make their designs and implementations comply.

“The federal government’s 22-member Wind Turbine Guidelines Advisory Committee, which included experts from the National Audubon Society, Nature Conservancy, Defenders of Wildlife, Massachusetts Audubon and Bat Conservation International, developed the guidelines. Committee members report they are optimistic that the new guidelines provide a path to better protection for birds and their habitats.”

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[David Yarnold, President, National Audubon Society:] “The guidelines steer wind turbines away from vital habitat…and toward land already marked by development…They give the U.S. Fish and Wildlife Service a place at the table for siting decisions; they help protect sites with high potential risk for birds; and they minimize habitat fragmentation…[and] provide a roadmap to better bird protections across each of America’s four great flyways.”

“…Wind developers that cooperate with the guidelines will avoid dividing important habitats like forests and grasslands, thus maintaining their suitability for wildlife…[T]he American Bird Conservancy would like to take the voluntary out of the guidelines and instead require wind developers to comply. The group recently filed a petition with the U.S. Department of the Interior calling for mandatory rules…and rewarding responsible wind energy development…”

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DOE WANTS RARE EARTHS

DOE: U.S.' Clean Energy Future Cannot Depend On China's Rare Earths

Laura DiMugno, 1 June 2012 (North American Windpower)

“The U.S. Department of Energy (DOE) has launched a major effort to ensure the U.S. has a reliable supply of rare-earth materials, which are used in a number of clean energy applications, including permanent magnet direct-drive wind turbines…[The Critical Materials Hub] will invest up to $120 million over five years to not only ensure access to these materials, but also develop alternatives that reduce the amount of rare earths needed.

“China provides 94% of the world's rare earths, including neodymium and dysprosium, which are used in the magnets for direct-drive wind turbine motors…With trade tensions with China rising - and China increasing its export taxes on rare earths - U.S. wind turbine manufacturers must face the possibility of relying solely on California-based Molycorp Inc., North America's only rare-earth supplier.”

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“Some companies in the wind energy supply chain are already preparing for this reality. Last September, permanent-magnet generator manufacturer Boulder Wind Power engaged Molycorp to be its preferred supplier of rare earths and/or alloys for wind turbine generators…According to a recent report, 25% of the world’s rare-earth supply will come from China by 2015, as demand for the neodymium and dysprosium necessary for the manufacture of magnets for wind turbines will climb at a pace of 7% to 9% per year through 2015.

“To avoid dependence on China, the new initiative will focus on tackling the challenges across the entire rare-earth spectrum, including mineral processing, manufacturing, efficiency, substitution and recycling…[T]o encourage competition, the DOE will use the $120 million allotted to the new initiative to award grants to businesses, universities, national laboratories and nonprofits to develop proposals to address the key conflicts associated with maintaining adequate supplies of rare earths…”

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WHAT’S IN IT FOR UTILITIES

Utilities Can Reap Big Rewards From Sustainable Practices

29 May 2012 (Renew Grid)

“Good sustainability policies and practices, including energy efficiency and demand side management, could be worth billions of dollars to utility investors, according to [The Value of Sustainability] from Target Rock Advisors LLC…Comparative analysis of the 10-year total returns for the 49 utilities included in Target Rock's 2012 sustainability rankings and indexes, along with several what-if’ scenario tests, suggest that the value of sustainability could be worth between $20 billion and $25 billion…

“The $20 billion to $25 billion range represents 8% to 10% of the total starting market capitalization of the utilities covered by the Target Rock indexes and an additional 1% of relatively low-risk compound annual return over 10 years. With the three major utility indexes (S&P Utilities, Dow Jones Utility Average and Philadelphia Utility Index) posting an average compound annual growth rate of 3.6% over that period, another 1% is quite material, and the numbers could be larger going forward, according to Target Rock…”

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“In addition, while the $20 billion to $25 billion estimate is a relevant indicator of shareholder value, these figures understate the true economic value of sustainability, because market capitalization metrics do not capture socioeconomic benefits created by utilities but accrued to others and society as a whole. These benefits include reductions in pollution and water use all along the consumption and carbon chain, as well as contributions to local economic health and development.

“It is impossible to say just how much causality is implicit in the relationship between strong sustainability practices and higher market returns - and there are certainly other factors in play - but Target Rock Advisors believes there is enough of a connection to use these relative performance baselines as a reasonable foundation for a "what-if" analysis in estimating the value of overall sustainability in the U.S. utility sector…”

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TEXAS WORRIES ABOUT ELECTRICITY

ERCOT Report Reinforces Future Electricity Adequacy Concerns

29 May 2012 (Renew Grid)

“The Electric Reliability Council of Texas (ERCOT) says it foresees potential electricity shortages within the coming decade as electricity use in Texas continues to hit new records…The newly revised Capacity, Demand and Reserves (CDR) report shows a reserve margin of 9.8% by 2014. That is well below ERCOT's 13.75% target for electric generation capacity that exceeds the forecast peak demand on the grid. The 2014 outlook includes slightly more than 75 GW of power to serve an anticipated peak demand of 68 GW.

“By 2015, projected reserves are expected to drop to 6.9%, with 76.6 GW of resources available to serve a peak demand of 71.6 GW. The 13.75% target-planning reserve margin, approved by ERCOT's board in 2010, is set to ensure enough power is available for contingencies such as extreme weather and unplanned power plant outages…”

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“Peak electricity use in the ERCOT region is driven by high temperatures and economic conditions. The mid- and long-term peak-demand forecast is based on a 15-year average weather profile combined with economic factors such as per capita income, population, gross domestic product and various employment measures. The report does not include the outlook for this summer…

“…[T]he outlook for summer 2013 actually has improved since the previous CDR was released in December 2011…[because] about 1.2 GW of previously "mothballed" capacity has returned to service…[including] nearly 600 MW of new renewable power [105 MW of biomass, 432 MW of wind power and 59 MW of solar power]…By 2016, the forecast includes 3.6 GW of new gas-fired capacity, more than 2 GW of new wind power, about 900 MW of new coal-fired generation and 60 MW of solar power…New wind power will include about 600 MW of coastal wind, which has historically provided significant power to the grid when it is needed most - late in the afternoon on hot summer days…The grid operator has also incorporated an increase in demand-response (DR) services...”

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