News
Element Markets follows news developments that impact the environmental markets. Below are several significant current developments.
Carbon
Green Power, Cleaner Cars, Carbon Trading in California's Future
June 29, 2008, Environment News ServiceThe California Air Resources Board has released its Climate Change Draft Scoping Plant to address climate change as mandated under bill AB32. The plan suggests a target of 33% renewable sources in the utilities’ generation mix by the year 2020. It also includes a cap-and-trade system that encompasses 85% of state carbon emissions, developed as part of a regional program under the Western Climate Initiative. Implementation of the Low Carbon Fuel Standard and increased energy efficiency programs are other elements the board cites as helping to reach the state’s climate change goals.
Largest RGGI trade changes hands
July 4, 2008, Point CarbonA trade of 50,000 Regional Greenhouse Gas Allowances for physical settlement in December 2009 transacted at $8.45 per short ton, the largest trade in the Regional Greenhouse Gas Initiative to date. As the first auction, to be held on September 10, approaches, power companies are beginning to participate in the market, which previously consisted of principally financial entities. However, the market remains illiquid, as many compliance entities and other participants wait for the first auction to provide price points and for a more active market to unfold.
Climate Change Bill Dies, But Gains Support
June 9, 2008, SustainableBusiness.com NewsThe Lieberman-Warner Climate Security Act, the leading climate change cap-and-trade bill to reduce greenhouse gas emissions in the US 66% by 2050, failed to gain enough votes to avoid a filibuster by Republicans in the Senate. Though the bill was not predicted to pass, it was dismissed quicker than expected. Seven Republicans voted in favor of the bill. Resumed discussion over a cap-and-trade program is not expected until after the presidential election.
Back to TopRenewables
Renewable Energy a 'Finance-driven' Industry
June 23, 2008, Renewable Energy WorldIn the last year, over $100 billion in global activity occurred in the renewable energy market. Renewable energy sources made up one third of new generation capacity in the US. However, in an industry so highly dependent on government subsidies and programs, the amount of policy risk is vast, as the current situation concerning the uncertain extension of the Investment and Production Tax Credits reveals. Even with those risks, the top financial companies in the world are quickly learning about and entering the markets, which many view as the biggest economic opportunity of the century.
Use Of Recycled Landfill Methane Catching On
July 1, 2008, Environmental LeaderLandfills across the country are helping reduce greenhouse gas emissions and provide additional revenue by capturing methane. The methane can be converted to energy and used as power, and government subsidies offer an additional incentive to capture emissions. It is estimated that current production capacity could be tripled with the amount of trash in landfills nationwide.
Massachusetts Enacts New Energy Bill Promoting Renewable Energy
July 7, 2008, Renewable Energy WorldOn July 2, the Governor of Massachusetts signed the Green Communities act, which encompasses a number of measures to spur renewable energy and energy efficiency in the state. The bill requires utilities to sign 10 to 15-year agreements with renewable energy producers. It also doubles the rate of increase in the state Renewable Portfolio Standard. The net metering limit has been increased from 60 kilowatts to 2 megawatts. Utility companies are also now able to enter into power purchase agreements with their customers for rooftop solar installations.
Back to TopEmissions
EPA Proposes to OK DFW Air Quality Plan
July 8, 2008, Environmental ProtectionDallas-Fort Worth’s state implementation plan to clean up its air has been proposed for approval by the US Environmental Protection Agency. This makes it the first plan proposed for approval to meet the 8-hour federal ozone standard by 2010. Pollutants that form ozone will be reduced by 88 tons daily, almost doubling the reduction of DFW’s initial proposed plan.
EPA to Stem Emissions from New Cement Plants
June 13, 2008, Environmental ProtectionThe US Environmental Protection Agency has proposed new amendments to the emission standards for new or modified Portland cement plants, limiting particulate matter, nitrous oxides, and sulfur dioxide. In addition, the proposal will increase monitoring and testing of existing plants.
Back to TopTechnology
Storing the Sun: Molten Salt Provides Highly Efficient Thermal Storage
June 26, 2008, Renewable Energy WorldMolten salt, which can be used for heat transfer, may solve the intermittency issues associated with solar energy. Thermal storage provides an emissions-free way to turn solar energy into a firm energy source that can be easily dispatched. The thermal storage system can be used to create a production profile that fits specific needs, whether for baseload capacity or extra peak energy. Molten salt collects the heat energy from the sun and is stored in an insulated tank. When desired, it can be used to produce steam to power a steam turbine.
Garbage In, Megawatts Out
July 2, 2008, Technology ReviewThe first North American gasification plant to make electricity from waste will be built in Ottwawa, Ontario. The plant will create 21 megawatts of electricity using electric-plasma torches that gasify the waste instead of burning it to generate heat. The plant turns waste into gas buy raising it to extreme temperatures in an oxygen-free environment. This creates syngas, a combination of hydrogen and carbon monoxide.
NanoMarkets Predicts Thin-Film Solar Cell Industry Will Produce More than 26 Gigawatts by 2015
July 7, 2008, Renewable Energy WorldNanoMarkets, an industry analyst firm, reports that the thin-film photovoltaics (TFPV) market will generate over $20 billion in revenues by 2015 and reach 26 gigawatts (GW) of production. At such levels, TFPV would represent over half of global PV production. TFPV provides costs savings over crystalline silicon PV as well as more flexibility.
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