Green Energy News | May 27, 2001

May 27, 2001 – Vol.6 No.9

ENERGIES... week of May 27, 2001

TRADING EMISSIONS - VOLUNTARILY. Certainly it’s true that becoming more fossil fuel efficient to cut back on greenhouse gas emissions, can save money for any company. And too, from a public and investor relations standpoint, companies can look good by voluntarily cutting emissions. But the most powerful incentive for voluntary reduction is the foreboding cloud of government intervention on global warming. For companies, it may be better to make cuts now than wait for government to force them to. Further, action taken now could turn into a profit-making venture later on.

It’s only a matter of time before the right political circumstances are created for governments to work together to enact policies to reduce carbon dioxide and other emissions. When this happens, emission trading schemes with marketable certificates will be one method used to help companies make these cuts. The savvy and bright company that obtains certificates now could find themselves with a source of profits later when the pinch comes and certificates sell at high prices.

Is earning a profit for having some insight a bad thing? No, it is considered good business. But more than profits, trading programs being developed include financial mechanisms for the building of new renewables or implementing energy efficient technologies now, rather than later. Any scheme that helps builds new renewable capacity or encourages efficiency as soon as possible - even if companies profit from it - is also a good thing.

The Chicago Climate Exchange (sm) is now in the design phase of a voluntary pilot trading market for greenhouse gas emissions. Initially to be aimed at the U.S. Midwest, this scheme will enable companies to meet emission reduction goals internally, buy allowances from companies that have met those goals, or buy credits from companies that have found ways to offset carbon emissions. The trading of certificates would create financial tools to build more renewables or carbon sequestration programs in the large region. Visit the Exchange at http://www.chicagoclimatex.com/

ASIA - DECLINING OIL. According to a story published by respected news service Reuters on May 31, experts predict oil production in the Asia Pacific region will decline over the next 5-10 years despite some possible new discoveries, large and small.

The heavily populated region stretching from New Zealand to China experiences sporadic, country-by-country, economic growth. Economic growth or not, dwindling regional oil supplies will put further strain on supplies imported from areas such as the Middle East.

Analysis? These economies need energy to grow. They may be looking closer at renewables and more efficient technologies to meet their economic demands. Seems like a budding and enormous market.

SOLAR RIPENING THE BIG APPLE. With roofs basking in the sunlight, high-rise buildings in large cities can be put to use for solar power generation.

AstroPower has been chosen to build a 30 kilowatt solar electric system for a 27-story residential building near Battery Park in New York City. With a 20 kilowatt array on the rooftop and a 10 kilowatt solar facade, an estimated 5 percent of the building’s electric power needs will be met by solar energy .

The building, scheduled for completion in the fall of 2002, meets the residential environmental guidelines set by the Hugh L. Carey Battery Park City Authority. Among those guidelines is a requirement to eventually meet all of the energy needs of individual buildings with on-site, non-polluting, renewable energy technologies. Financial assistance for the solar power came from the U.S. Department of Energy and the New York State Energy Research and Development Authority (NYSERDA). The building’s developer can also apply for a New York State tax credit for the installation . Visit AstroPower at http://www.astropower.com/ , NYSERDA at http://www.nyserda.org/ and Battery Park at http://www.batteryparkcity.org/ .

WORLD WIND WATCH. If author Lucy Maud Montgomery were alive today she certainly could find a misadventure for Anne of Green Gables revolving around Prince Edward Island’s soon-to-be-built wind farm. The story of Anne is still a popular tourist attraction in the Canadian province.

P.E.I Energy Corporation will build and operate the $6 million facility next to the existing Atlantic Wind Test Site on the North Cape. By the middle of next year, 8 Vestas turbines will be installed and begin producing up to 16.6 million kilowatt hours of electricity per year.

Guaranteed power purchasers will be the provincial government, which will buy $715,000 over ten years and the Government of Canada more than $2.9 million. Those purchases will help finance the construction of the wind farm. The purchases are part of Canada’s Action Plan 2000 on Climate Change, where 20 percent of the Government’s power is to come from new renewables.

Power will be sold and distributed to customers by Maritime Electric Corporation. Maritime Electric will also develop a renewable power program to market wind energy to customers other than government. To learn about Action Plan 2000, visit Natural Resources Canada at http://www.NRCan.gc.ca/ , visit charming P.E.I at http://www.gov.pe.ca/