Market changes and an investment of $800 million to $1 billion over 15 years could bring more than 100 GW of geothermal energy to the US grid by 2050, according to a study recently released by a multi-disciplinary research group at MIT. That investment, is less than the cost of a single “new generation” coal-powered plant, and the amount of energy is equivalent to 200 coal-fired power plants or 100 new nuclear power plants.
DuPont, the leading U.S. chemical maker, and Yingli Green Energy Holding Co., a top Chinese PV panel manufacturer, reached a $100 million deal this week with the goal of boosting supplies of solar-energy materials and promoting broader adoption of solar energy worldwide.
Japan is slated to announce a new national solar mandate that would see all new buildings and houses be built with solar installations by 2030.
Shares of French-based renewable energy company EDF Energies Nouvelles S.A. (Paris: EEN.PA) closed up 10% today after French state-controlled power giant Electricite de France SA (Paris: EDF.PA) announced on Friday it will launch a €1.5 billion offer for the 50% of EDF Energies Nouvelles it does not hold. Electricite de France will offer €40 a share in cash or 13 EDF shares for 11 EDF Energies Nouvelles shares. (€1 = $1.44 April 11)
The March 11 earthquake and tsunami off Sendai, Japan -- and the resulting nuclear disaster at the Fukushima Daiichi nuclear power plant -- transformed a strong performance for Q1 equities markets into a gangbusters performance. Renewable energy stocks -- especially wind and solar power companies -- were huge beneficiaries of investors betting that these sectors will fill the void created by a flight from nuclear.
Shares of solar and wind power inverter company Power-One, Inc. (NASDAQ: PWER) were down slightly at mid-session today after falling 21 percent Friday. After the market closed Thursday, Power-One reported spectacular profits, revenues and margins for Fiscal 2010 and Q4 2010, but issued cautious guidance for the first half of 2011 that scared investors.