The US Going Green? | Green Energy News

January 9, 2005 – Vol.9 No.42

THE U.S. GOING GREEN?

There’s no increase in fuel economy standards. The U.S. government isn’t forcing a cutback in greenhouse gas emissions, isn’t forcing utilities to further reduce toxic emissions, or has set a national renewable energy portfolio standard.

Yet hybrid vehicle sales are soaring. Solar companies are busy installing panels. Corporate America wants green buildings.

What gives? Is green energy finally coming into its own? Could be, but why?

Give credit to the war in Iraq which is perceived to be for the oil.

Give credit to the weather extremes like the pounding by hurricanes the nation took in 2004. Global warming and climate change could be here already.

Give credit to the attacks of 9/11 and their link to U.S. oil policies in the Middle East.

Now credit the tsunamis. (There’s no connection there, but if Mother Nature made it clear that she rules the planet and will kill without warning. Who knows? Global warming could push Mom into an event of similar magnitude.)

Further, give credit for the growing greenness of the U.S. to the states that have renewable portfolio standards, the adoption (and those planning it) of stricter California vehicle emissions rules (at least 14 states), as well as state incentives that help build green power capacity.

And finally give credit to Washington for tax incentives that help make green energy more affordable.

All of these reasons are adding up and there’s continuing evidence that businesses and larger corporations see a greater green in America - a greater movement towards environmental friendliness along with the dollars that could come from it.

Mitsubishi Electric, for example, has decided to enter the U.S. market for solar panels. The multinational conglomerate will initially focus on markets in the southwestern U.S., then expand to the rest of the country.

Evergreen Solar, a maker of solar cells and panels, is confidant of future growth and is expanding its solar business by entering into a joint venture with Q-Cells AG of Germany to undertake the development of a 30-megawatt solar wafer and module manufacturing facility in Thalheim, Germany.

Q-Cells makes high-performance solar cells that, at 6 inches square, are larger than most. The venture is valued at $75 million with Evergreen owning 75.1 percent, Q-Cells 24.9 percent.

Evergreen is also planning a new offering of common stock to presumably fund its expansion plans. That offering is expected to raise $60 million.

Visit Mitsubishi Electric (solar) at http://global.mitsubishielectric.com/bu/solar/index.html , Evergreen Solar at http://www.evergreensolar.com/ and Q-Cells at http://www.q-cells.com/