Vestas on crest of alternative energy wave
by RICHARD BLACKWELL
article from: http://www.theglobeandmail.com/servlet/story/LAC.20071025.REDGE25/TPStory/Business
October 25, 2007
Canadian investors looking for exposure to the booming alternative energy sector have a handful of domestic players to choose from, but the local pickings are pretty slim and most of the companies are small.
So why not look overseas, to one of the green behemoths that has sprung up on the international scene?
Danish turbine maker Vestas Wind Systems AS is among the biggest companies in the worldwide wind energy business and its stock has been white hot lately.
The company controls close to 30 per cent of the worldwide market for wind turbines and generates more than $5-billion in revenue each year. It has manufacturing operations in a dozen countries. And it is growing quickly thanks to the growing interest in - and government support of - alternative energy sources.
The global wind business is expected to grow by an average of 19 per cent a year over the next half-decade, according to forecasts from the Global Wind Energy Council. The fast-growing U.S. wind power industry, driven by favourable government tax policy, is Vestas' largest current market. But it also has a huge presence in the wind-intense Danish and German energy markets, and a strong foothold in energy-hungry China.
In Canada, Vestas is the biggest turbine seller, with an installed base of about 700 units that generate half of all the wind power in this country. Vestas shares, which trade on the Copenhagen stock exchange, more than quadrupled in price over the past 20 months, as the company cemented its No. 1 spot in the industry.
"They're in a very strong position because they have a large backlog of orders," said Philippe de Weck, a senior fund manager at Pictet Asset Management SA, a Swiss company that manages the Criterion Global Clean Energy Fund for Toronto's VenGrowth Asset Management Inc.
Vestas is the largest holding in the Criterion fund, making up about 5 per cent of its value.
Vestas' margins have risen because the worldwide shortage of wind turbines has given manufacturers the power to control prices, Mr. de Weck said. And those margins will likely continue to move up next year, so there is room for more growth in the stock price, he said.
Vestas is also the biggest single stock in the Templeton International Stock Fund run by Don Reed, chief executive officer of Franklin Templeton Investments Corp.
"Vestas is in the right spot right now, especially as we see the price of oil rising," Mr. Reed said.
He also likes Vestas because it is a rare pure play in the wind business - many of the other big turbine makers, such as General Electric and Siemens AG, are diversified conglomerates. It's also big enough to form a substantial part of an investment portfolio.
But the stock has appreciated so much that Mr. Reid is considering whether to trim back his position and take some profits. "We're watching very closely. It's certainly a heck of a lot more expensive today than it was when we bought it."
Some analysts are also urging caution over Vestas' high price.
"We find the shares are fundamentally overvalued," said analyst Christian Nagstrup of Jyske Bank, a Danish financial institution.
Mr. Nagstrup recently downgraded the stock to "accumulate" from "buy," mainly because of recent sharp increases in the share price.
Still, he thinks the stock can show some modest gains from current levels, because of the strong orders it is getting from the United States and China.
The biggest risk he sees at Vestas is a bottleneck in getting parts to build the turbines. Subcontractors have been slow in delivering key components, and that could slow delivery of complete turbines, Mr. Nagstrup said in a recent report.
*****
QUICK FACTS
Vestas was founded in the late 19th century by a Danish blacksmith. In its first 80 years it made products ranging from window frames to appliances to agricultural equipment.
It began to make wind turbines in the late 1970s, starting with the old egg-beater style, then shifting to a more efficient three-blade model, similar to what is seen around the world today. After 1987, it concentrates solely on wind energy.
As of mid-2007, the company had installed 33,700 turbines in 64 countries. Its biggest individual market is the United States, where it has 9,000 turbines in place. Revenue in Vestas' second quarter was about $1.3-billion, and pretax profit about $120-million.
Vestas trades at a price-to-earnings multiple of 64 times trailing earnings and 36 times estimated earnings. It also trades at 8.8 times price-to-book value and 2.7 times price to sales.
Richard Blackwell
*****
Investing in Europe
Most Canadian investors interested in a European investment such as Vestas Wind Systems try to get exposure through mutual funds that hold a big chunk of the stock.
But there's no reason sophisticated investors can't buy individual shares, said Lex Kerkovius, an analyst with Calgary-based McLean & Partners Wealth Management.
While Vestas stock is listed only on the Copenhagen Stock Exchange, buying shares "can be easily accomplished," he said. "Just call your broker and they can execute the trade."
It's a little more complex to perform due diligence on a Danish company than on a domestic one, Mr. Kerkovius said, but investors can now get comprehensive details about any company through the Internet.
Still, potential buyers should be careful about financial reporting in other countries, which may follow different rules than in Canada, he said. And there are also some cultural and regulatory differences in European countries.
But over all, "Canadians would be well advised to look further afield," to find potential investments, he said, especially when many sectors of the domestic market - such as alternative energy - are limited to micro-cap or small-cap stocks.
Aside from Vestas, other large wind power equipment companies that can be purchased on international exchanges include Spain's Gamesa Corp. and India's Suzlong Energy Ltd.
"You have to do your homework, but it's not overly difficult to go overseas," Mr. Kerkovius said.
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Alternative energy stocks and other renewable power investments are a core component of ethical investing portfolios. Find info on Alternative Energy websites, research solar power, locate renewable power information and solar energy companies online. Links to info on clean fuels, solar power as a peace technology, solar energy stocks and clean power mutual funds.
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Sunday, October 28, 2007
China's Suntech Power Holdings (NYSE: STP) has stellar week!
article excerpted from:
Chinese solar chip maker Suntech Power Holdings, for example, has been a longtime favorite in our community, with over 1,700 players giving the stock an outperform rating. Of course, as a formal pick of our Motley Fool Rule Breakers growth stock service, that number might be Foolishly skewed. Still, I'd say the stock's 104% return over the last year speaks for itself.
This outperform pitch -- written by CodeCracker back in January -- shines some sun onto our community's thought process:
STP is a Chinese solar chip company that is growing like a weed (sales are up over 100% per year for the last couple of years). What's even better, they're making money, making deals to improve their supply, and the renewable energy market is increasingly attractive to "green" homeowners, utilities, and governments around the world. The company is expected to earn $1.18 in '07 and is projected to grow about 56% a year, so this $35 stock could close to double in the next year or so. I bought some in the 25 to 28 range and recommend purchase on dips.
Suntech is 54% higher since that call was made, and up 86% since it was handpicked by the Rule Breakers team back in 2006. In fact, yesterday's pop came after the company announced yet another major supply deal -- this time, a seven-year, fixed-price contract to buy $1.5 billion worth of polysilicon from Asia Silicon.
The bullish takeaway? Pay attention to companies that aggressively take steps to reduce their cost structure -- especially in an industry like solar energy. Because of the high prices of raw materials, many emerging technologies are simply too costly to bring into the mainstream. In the case of Suntech, though, its consistent profitability clearly indicates that it has some of the most attractive fixed-price contracts -- and therefore, one of the lowest cost structures -- in the industry.
Chinese solar chip maker Suntech Power Holdings, for example, has been a longtime favorite in our community, with over 1,700 players giving the stock an outperform rating. Of course, as a formal pick of our Motley Fool Rule Breakers growth stock service, that number might be Foolishly skewed. Still, I'd say the stock's 104% return over the last year speaks for itself.
This outperform pitch -- written by CodeCracker back in January -- shines some sun onto our community's thought process:
STP is a Chinese solar chip company that is growing like a weed (sales are up over 100% per year for the last couple of years). What's even better, they're making money, making deals to improve their supply, and the renewable energy market is increasingly attractive to "green" homeowners, utilities, and governments around the world. The company is expected to earn $1.18 in '07 and is projected to grow about 56% a year, so this $35 stock could close to double in the next year or so. I bought some in the 25 to 28 range and recommend purchase on dips.
Suntech is 54% higher since that call was made, and up 86% since it was handpicked by the Rule Breakers team back in 2006. In fact, yesterday's pop came after the company announced yet another major supply deal -- this time, a seven-year, fixed-price contract to buy $1.5 billion worth of polysilicon from Asia Silicon.
The bullish takeaway? Pay attention to companies that aggressively take steps to reduce their cost structure -- especially in an industry like solar energy. Because of the high prices of raw materials, many emerging technologies are simply too costly to bring into the mainstream. In the case of Suntech, though, its consistent profitability clearly indicates that it has some of the most attractive fixed-price contracts -- and therefore, one of the lowest cost structures -- in the industry.
Taiwan's Gintech places 10-yr, $700 mil order with MEMC
MEMC and Gintech Announce $700 Million+ Solar Wafer Supply Amendment
article from: http://money.cnn.com/news/newsfeeds/articles/prnewswire/NYTH14725102007-1.htm
ST. PETERS, Mo., Oct. 25 /PRNewswire-FirstCall/ -- MEMC Electronic Materials, Inc. announced today that MEMC and Gintech Energy Corporation of Taiwan have executed an amendment to their existing definitive agreement for MEMC to supply solar grade silicon wafers to Gintech.
Under the terms of the amendment, MEMC will supply additional solar wafers to Gintech over the 10-year contract period, with incremental pre-determined pricing, on a take or pay basis beginning in 2008. Sales of the additional wafers over the 10-year period would generate approximately $700-$800 million in incremental revenue for MEMC. As part of the amendment, Gintech will advance additional funds to MEMC in the form of a capacity reservation deposit. In total, the amended agreement is now worth between $3-$4 billion in revenue to MEMC through 2017.
"Gintech is a fast growing and well positioned player in the solar industry," commented Nabeel Gareeb, MEMC's Chief Executive Officer, "and we are pleased to provide them with additional solar grade wafers to help enable them to meet the growing demand for photovoltaic energy worldwide. With partners like Gintech, and a keen focus on our core competency of making wafers, MEMC continues to strengthen its position in the solar marketplace."
Commenting on the signing of the wafer supply agreement, Gintech's President Ellick Liao said, "Gintech continues to grow its capacity, and aims to play a major role in serving the globe with sustainable and clean energy. MEMC wafers are a critical ingredient for success in that process, and we are pleased to expand our relationship with MEMC."
About Gintech Energy Corporation
Gintech is a solar cell manufacturer based in Taiwan. Gintech's state-of- the-art equipment, facilities and cost-effective production line focus only on solar cell manufacturing. Gintech was founded in 2005 and is supported by several top executives from the petroleum, petrochemical, semiconductor and electronics industries in Taiwan with insight into the global trends of renewable energy.
About MEMC
MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of wafer technologies over the past four decades. With R&D and manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells. MEMC's common stock is listed on the New York Stock Exchange under the ticker 'WFR' and is included in the S&P 500 Index.
Safe Harbor Statement
Certain matters discussed in this news release are forward-looking statements, including MEMC's expectation that the amendment to the definitive agreement will generate approximately $700-$800 million in incremental revenue for MEMC and that the amended definitive agreement will now be worth between $3-$4 billion in revenue for MEMC through 2017. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including the success of MEMC and Gintech in performing under the definitive agreement and the ability of MEMC to ramp up production of solar wafers to satisfy the terms of the amended definitive agreement. These forward-looking statements represent MEMC's judgment as of the date of this release. MEMC disclaims, however, any intent or obligation to update these forward-looking statements.
article from: http://money.cnn.com/news/newsfeeds/articles/prnewswire/NYTH14725102007-1.htm
ST. PETERS, Mo., Oct. 25 /PRNewswire-FirstCall/ -- MEMC Electronic Materials, Inc. announced today that MEMC and Gintech Energy Corporation of Taiwan have executed an amendment to their existing definitive agreement for MEMC to supply solar grade silicon wafers to Gintech.
Under the terms of the amendment, MEMC will supply additional solar wafers to Gintech over the 10-year contract period, with incremental pre-determined pricing, on a take or pay basis beginning in 2008. Sales of the additional wafers over the 10-year period would generate approximately $700-$800 million in incremental revenue for MEMC. As part of the amendment, Gintech will advance additional funds to MEMC in the form of a capacity reservation deposit. In total, the amended agreement is now worth between $3-$4 billion in revenue to MEMC through 2017.
"Gintech is a fast growing and well positioned player in the solar industry," commented Nabeel Gareeb, MEMC's Chief Executive Officer, "and we are pleased to provide them with additional solar grade wafers to help enable them to meet the growing demand for photovoltaic energy worldwide. With partners like Gintech, and a keen focus on our core competency of making wafers, MEMC continues to strengthen its position in the solar marketplace."
Commenting on the signing of the wafer supply agreement, Gintech's President Ellick Liao said, "Gintech continues to grow its capacity, and aims to play a major role in serving the globe with sustainable and clean energy. MEMC wafers are a critical ingredient for success in that process, and we are pleased to expand our relationship with MEMC."
About Gintech Energy Corporation
Gintech is a solar cell manufacturer based in Taiwan. Gintech's state-of- the-art equipment, facilities and cost-effective production line focus only on solar cell manufacturing. Gintech was founded in 2005 and is supported by several top executives from the petroleum, petrochemical, semiconductor and electronics industries in Taiwan with insight into the global trends of renewable energy.
About MEMC
MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of wafer technologies over the past four decades. With R&D and manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells. MEMC's common stock is listed on the New York Stock Exchange under the ticker 'WFR' and is included in the S&P 500 Index.
Safe Harbor Statement
Certain matters discussed in this news release are forward-looking statements, including MEMC's expectation that the amendment to the definitive agreement will generate approximately $700-$800 million in incremental revenue for MEMC and that the amended definitive agreement will now be worth between $3-$4 billion in revenue for MEMC through 2017. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including the success of MEMC and Gintech in performing under the definitive agreement and the ability of MEMC to ramp up production of solar wafers to satisfy the terms of the amended definitive agreement. These forward-looking statements represent MEMC's judgment as of the date of this release. MEMC disclaims, however, any intent or obligation to update these forward-looking statements.
ESLR a fast-rising solar power stock
Evergreen Solar stock is surging
article from: http://www.telegram.com/article/20071027/NEWS/710270363/1002/BUSINESS
By Christopher Martin BLOOMBERG NEWS
MARLBORO— Evergreen Solar Inc. surged the most in more than two years on a narrower third-quarter loss and a plan to sell shares in EverQ, a joint venture with Germany’s Q-Cells AG and Norway’s Renewable Energy Corp AG. Evergreen, based in Marlboro, rose $1.47, or 16 percent, to $10.70 on the Nasdaq stock market. The stock, which has risen 41 percent this year, had its biggest gain since Nov. 5, 2005. The third-quarter loss was $3.7 million, or 4 cents a share, compared with $5.6 million, or 8 cents, a year earlier, Evergreen said in a statement yesterday. A 6-cent loss was expected by 12 analysts surveyed by Bloomberg.
“Evergreen has been on the back burner for some time because of the lack of profitability,” said Sanjay Shrestha, an analyst at Lazard Capital Markets in New York who has a “buy” rating on the shares. “Now with the EverQ IPO and the groundbreaking of their new plant, there’s a much more transparent path to making money.” EverQ will open its third solar-panel factory in Thalheim, Germany, in early 2009, Evergreen said in the statement. The stock climbed 4.2 percent to 260 kroner. Q-Cells fell 28 cents to $82.08 euros.
article from: http://www.telegram.com/article/20071027/NEWS/710270363/1002/BUSINESS
By Christopher Martin BLOOMBERG NEWS
MARLBORO— Evergreen Solar Inc. surged the most in more than two years on a narrower third-quarter loss and a plan to sell shares in EverQ, a joint venture with Germany’s Q-Cells AG and Norway’s Renewable Energy Corp AG. Evergreen, based in Marlboro, rose $1.47, or 16 percent, to $10.70 on the Nasdaq stock market. The stock, which has risen 41 percent this year, had its biggest gain since Nov. 5, 2005. The third-quarter loss was $3.7 million, or 4 cents a share, compared with $5.6 million, or 8 cents, a year earlier, Evergreen said in a statement yesterday. A 6-cent loss was expected by 12 analysts surveyed by Bloomberg.
“Evergreen has been on the back burner for some time because of the lack of profitability,” said Sanjay Shrestha, an analyst at Lazard Capital Markets in New York who has a “buy” rating on the shares. “Now with the EverQ IPO and the groundbreaking of their new plant, there’s a much more transparent path to making money.” EverQ will open its third solar-panel factory in Thalheim, Germany, in early 2009, Evergreen said in the statement. The stock climbed 4.2 percent to 260 kroner. Q-Cells fell 28 cents to $82.08 euros.
Sunday, October 21, 2007
Ecology, Environmental and Nature Blogs
The Future is Green - Thoughts on the coming of a society that is in balance with nature.
The Green Skeptic - Devoted to challenging assumptions about how we live on the earth and protect our environment.
Haute*Nature - Ecologically based creative ideas, art & green products for your children, home and lifestyle, blending style with sustainability.
The Lazy Environmentalist - Sustainable living made easy.
Lights Out America - A grassroots community group organizing nationwide energy savings events.
The Nature Writers of Texas - The best nature writing from the newspaper, magazine, blog and book authors of the Lone Star State.
Rachel Carson Centennial Book Club - Considering the legacy of Rachel Carson's literary and scientific contributions with a different book each month.
Cleantech Blog - Commentary on technologies, news, and issues relating to next generation energy and the environment.
The Conscious Earth - Earth-centered news for the health of air, water, habitat and the fight against global warming.
Earth Meanders - Earth essays placing environmental sustainability within the context of other contemporary issues.
Environmental Action Blog - Current environmental issues and green energy news.
Sustainablog - News, information and personal meanderings related to environmental and economic sustainability, green and sustainable business, and environmental politics.
These Come From Trees - An experiment in environmentalism, viral marketing, and user interface design with the goal of reducing consumer waste paper.
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The Green Skeptic - Devoted to challenging assumptions about how we live on the earth and protect our environment.
Haute*Nature - Ecologically based creative ideas, art & green products for your children, home and lifestyle, blending style with sustainability.
The Lazy Environmentalist - Sustainable living made easy.
Lights Out America - A grassroots community group organizing nationwide energy savings events.
The Nature Writers of Texas - The best nature writing from the newspaper, magazine, blog and book authors of the Lone Star State.
Rachel Carson Centennial Book Club - Considering the legacy of Rachel Carson's literary and scientific contributions with a different book each month.
Cleantech Blog - Commentary on technologies, news, and issues relating to next generation energy and the environment.
The Conscious Earth - Earth-centered news for the health of air, water, habitat and the fight against global warming.
Earth Meanders - Earth essays placing environmental sustainability within the context of other contemporary issues.
Environmental Action Blog - Current environmental issues and green energy news.
Sustainablog - News, information and personal meanderings related to environmental and economic sustainability, green and sustainable business, and environmental politics.
These Come From Trees - An experiment in environmentalism, viral marketing, and user interface design with the goal of reducing consumer waste paper.
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Saturday, October 20, 2007
Future power sources are clean, green and lucrative
Energy Sources Of The Future
by Elisabeth Eaves, Forbes.com
First the bad news: With oil prices rising and energy demand from emerging economies ballooning, no single energy source will emerge to replace fossil fuels.
The good news is that that's OK. Even if nothing ever rules the world like oil did last century, different regions will adapt by tapping the technologies and energy sources that suit them best.
"We'll really be looking at a tapestry…as opposed to the silver bullet notion that one source will break through and dominate," says Barry Rabe, a professor of environmental policy at the University of Michigan - Ann Arbor.
In Pictures: Energy Sources of the Future
So just how will our grandchildren meet their energy needs? We'll continue to use oil and natural gas for decades, if not centuries, but as a shrinking portion of our energy pie. We'll also use commonly proposed alternatives like corn-based ethanol and nuclear generators.
But there are also big changes ahead, both in terms of what we use and how much we use technologies that already exist. Take wind generation. The industry is growing at about 30% a year, says Edward Guinness, co-manager of the Guinness Atkinson Alternative Energy Fund. That's faster than other renewable energy sources like solar and hydro-power. The price of wind-generated energy is currently competitive with fossil fuels, Guinness says.
Solar power is also poised to grow quickly. Today about 0.1% of the world's energy comes from solar power, most of it using photovoltaic cells. Guinness thinks that could grow to 10% over 20 to 35 years as manufacturing processes are improved. The expansion of solar thermal technology will also grow the sector (see: The Sunshine Economy). Government subsidies, favorable regulatory programs and the popularity of solar with consumers are also likely to boost usage.
Newer ideas could also turn into future energy sources. Have you ever thought we might harness the power of bending floorboards, or turn algae into fuel? It could happen.
Moreover, the future of energy is not just a question of what, but of how.
"I think the things that would really blow us away if we could jump forward 20 years would not be the giant fields of windmills, but the 1,000 changes in daily life that have taken place in order to save energy," says Alex Steffen, executive editor of Worldchanging.com, which covers sustainable technology.
Those changes will go far beyond switching to low-energy light bulbs. One trend Steffen forecasts is that power sources will move closer to home. "I think we're going to see a lot more local energy, especially in places that are gifted with lots of sunshine, or wind, or strong rivers," Steffen says. As houses and small communities produce their own energy, it will flow back and forth on "smart infrastructure"-- two-way power grids that deliver from as well as to the home.
Take hydro-power, for instance. "If we're going to see new hydro development in North America, it wont necessarily be massive like the Hoover Dam, but micro-hydro," Rabe says. Places still unconnected to large-scale energy grids, like sub-Saharan Africa, are especially poised to take advantage of local-level options.
The future just might be bright after all. By the time the world's oil reserves do dry up, it's technologically possible that we will have weaned ourselves off of fossil fuels.
by Elisabeth Eaves, Forbes.com
First the bad news: With oil prices rising and energy demand from emerging economies ballooning, no single energy source will emerge to replace fossil fuels.
The good news is that that's OK. Even if nothing ever rules the world like oil did last century, different regions will adapt by tapping the technologies and energy sources that suit them best.
"We'll really be looking at a tapestry…as opposed to the silver bullet notion that one source will break through and dominate," says Barry Rabe, a professor of environmental policy at the University of Michigan - Ann Arbor.
In Pictures: Energy Sources of the Future
So just how will our grandchildren meet their energy needs? We'll continue to use oil and natural gas for decades, if not centuries, but as a shrinking portion of our energy pie. We'll also use commonly proposed alternatives like corn-based ethanol and nuclear generators.
But there are also big changes ahead, both in terms of what we use and how much we use technologies that already exist. Take wind generation. The industry is growing at about 30% a year, says Edward Guinness, co-manager of the Guinness Atkinson Alternative Energy Fund. That's faster than other renewable energy sources like solar and hydro-power. The price of wind-generated energy is currently competitive with fossil fuels, Guinness says.
Solar power is also poised to grow quickly. Today about 0.1% of the world's energy comes from solar power, most of it using photovoltaic cells. Guinness thinks that could grow to 10% over 20 to 35 years as manufacturing processes are improved. The expansion of solar thermal technology will also grow the sector (see: The Sunshine Economy). Government subsidies, favorable regulatory programs and the popularity of solar with consumers are also likely to boost usage.
Newer ideas could also turn into future energy sources. Have you ever thought we might harness the power of bending floorboards, or turn algae into fuel? It could happen.
Moreover, the future of energy is not just a question of what, but of how.
"I think the things that would really blow us away if we could jump forward 20 years would not be the giant fields of windmills, but the 1,000 changes in daily life that have taken place in order to save energy," says Alex Steffen, executive editor of Worldchanging.com, which covers sustainable technology.
Those changes will go far beyond switching to low-energy light bulbs. One trend Steffen forecasts is that power sources will move closer to home. "I think we're going to see a lot more local energy, especially in places that are gifted with lots of sunshine, or wind, or strong rivers," Steffen says. As houses and small communities produce their own energy, it will flow back and forth on "smart infrastructure"-- two-way power grids that deliver from as well as to the home.
Take hydro-power, for instance. "If we're going to see new hydro development in North America, it wont necessarily be massive like the Hoover Dam, but micro-hydro," Rabe says. Places still unconnected to large-scale energy grids, like sub-Saharan Africa, are especially poised to take advantage of local-level options.
The future just might be bright after all. By the time the world's oil reserves do dry up, it's technologically possible that we will have weaned ourselves off of fossil fuels.
Countries ranked for renewable energy attractiveness
Q2 2007 Renewable Energy Country Attractiveness Indices
Ernst & Young recently released its Q2 2007 Renewable Energy Country Attractiveness Indices . As part of this initiative, E&Y typically publishes three forward-looking indices that rank countries based on their alternative energy investment friendliness. The indices are: the All-renewable Index, the Long-term Wind Index and the Near-term Wind Index (2-year time horizon).
more info at: http://www.altenergystocks.com/archives/2007/08/q2_2007_renewable_energy_country_attractiveness_indices.html
Ernst & Young recently released its Q2 2007 Renewable Energy Country Attractiveness Indices . As part of this initiative, E&Y typically publishes three forward-looking indices that rank countries based on their alternative energy investment friendliness. The indices are: the All-renewable Index, the Long-term Wind Index and the Near-term Wind Index (2-year time horizon).
more info at: http://www.altenergystocks.com/archives/2007/08/q2_2007_renewable_energy_country_attractiveness_indices.html
South Africa promoting solar power developments with solar vehicle race
Article from: http://en.wikipedia.org/wiki/South_African_Solar_Challenge
Objective of competition - Awareness and Technology
The primary objective is to design, manage, build and race solar powered vehicle across South Africa. The challenge sees a collaboration between scholars, students, private individuals and various industry and government partners, to work together to have a safe, technology rich event.
Solar Vehicel Race Promotes Photovoltaic developments
- Renewable energy technologies (specifically photovoltaic or “solar cells”) - Educational excellence in science, engineering and mathematics - Creative integration of technical and scientific expertise across a wide-range of disciplines - Understanding of marketing, business and management skills needed to execute large and complex projects. - “Hands-on” experience for students and engineers to develop and demonstrate their technical and creative abilities - Environmental consciousness - Safety in all aspects of the challenge, development, testing and racing. - Sportsmanship, friendship and co-operation.
Objective of competition - Awareness and Technology
The primary objective is to design, manage, build and race solar powered vehicle across South Africa. The challenge sees a collaboration between scholars, students, private individuals and various industry and government partners, to work together to have a safe, technology rich event.
Solar Vehicel Race Promotes Photovoltaic developments
- Renewable energy technologies (specifically photovoltaic or “solar cells”) - Educational excellence in science, engineering and mathematics - Creative integration of technical and scientific expertise across a wide-range of disciplines - Understanding of marketing, business and management skills needed to execute large and complex projects. - “Hands-on” experience for students and engineers to develop and demonstrate their technical and creative abilities - Environmental consciousness - Safety in all aspects of the challenge, development, testing and racing. - Sportsmanship, friendship and co-operation.
Alaskan energy solution Blowin in the Wind Power
Alaskan Valley winds create megawatts of power
By Russell Stigall
article from: http://www.frontiersman.com/articles/2007/08/21/news/news4.txt
The winds of change could bring megawatts of clean power to the Mat-Su Valley.Matanuska Electric Association recently announced it would sacrifice its portion of the Railbelt Energy Fund if the state transfers the entire fund into the pending Renewable Energy Fund. A recent Mat-Su Borough poll shows that 88 percent of Valley residents want their electricity to come from renewable sources, like wind.However, of 205 megawatts of proposed electric generation proposed in Matanuska Electric Association's Integrated Resource Plan, 5 come from renewable resources, according to MEA's 2007 Integrated Resource Plan. Matanuska Electric currently draws 19.5 megawatts from the Eklutna Lake and Bradely Lake hydroelectric projects.Alaska has an abundance of renewable resources. With 34,000 miles of coastline for wave and tidal power, a chain of geothermal hot-spots bubbling up the Aleutians past Wasilla, biomass from fish oil, saw mills, landfill and Alaska's current largest source of renewable power, which produces 24 percent of the state's total electrical energy, hydroelectric, according to the Alaska Energy Authority. The communities along the Railbelt Intertie, the high-voltage line strung from Seward to Fairbanks, have rich renewable options nearby.Within 50 miles of the Intertie, near enough to connect by cable, lie several unique sources of renewable power.The volcanic Mount Spurr has the potential to produce megawatts of renewable geothermal power, according to the Alaska Energy Authority.Adjacent to Mount Spurr is Lake Chakachamna, a potential 300-400 megawatt hydropower source, according to a 1980s study by the Alaska Power Authority. South of Lake Chakachamna are Cook Inlet's Forelands.
The Forelands have good to excellent wind resources, according to the Alaska Energy Authority.A scaled down Susitna Dam project could provide the Mat-Su Valley with at least 200-megawatts according to Earle Ausman of Polar Consultants.Ausman also said that the Valley has 30 megawatts to 40 megawatts of Run of the River hydroelectric resources. Run of the River captures the energy in the natural flow of the river and eliminates the need for large dams.TXU Energy of Texas has proposed a plant to build 3,000 megawatts of new wind energy in Texas. The company, in conjunction with Shell, will use novel technology to better utilize Texas wind, said TXU spokesperson Thomas Kleckner.Because wind in Texas blows mostly at night and enegy-intensive air conditioner use rises with the triple-digit temperature during the day, TXU and Shell had to find a way to store energy for use when it is most needed. The Airsource Technology, used in prototype projects in Iowa and Alabama, could bridge this gap, said Kleckner.Nighttime electricity from TXU's wind turbines will be used to run air compressors that fill huge chambers dug under the Texas scrub brush, Kleckner said. During the heat of the day this air will be released, spinning turbines that resemble those used in natural gas generators.Kleckner said that wind power is affordable energy.“Essentially, once you have the wind turbines built there is very little other cost. You don't have to buy fuel, the wind is free,” Kleckner said.Wind turbines do need maintenance.Traditionally wind energy capacity is around 35 percent in Texas, but could be improved by the storage technology, Kleckner said.Chris Sauer of Ocean Renewable Power Corporation said his company plans to put a test tidal turbine into the Knik Arm in the spring of 2008.
The prototype turbine will be used to test the concept in the fast-moving currents of the Knik. If the prototype proves feasible, Sauer said Knik could support tidal generation up to about 17 megawatts."The renewable energy fund plays a critical role in providing incentives for development of new renewable energy technologies. Our tidal demonstration project we are conducting in Maine this November is a classic example,” said Chris Sauer, Ocean Renewable Power Corporation. “We could not do this critical demonstration of our OCGenT technology without financial support that came from the renewable energy funds in Maine and Massachusetts. Almost two-thirds of the funding needed came from renewable energy funding."Alaska Energy Authority and Renewable Energy Alaska Project recently released its “Renewable Energy Atlas of Alaska,” a 24-page estimate of Alaska's hydro, wind, biomass, solar and geothermal energy resources, www.aidea.org/aea.
By Russell Stigall
article from: http://www.frontiersman.com/articles/2007/08/21/news/news4.txt
The winds of change could bring megawatts of clean power to the Mat-Su Valley.Matanuska Electric Association recently announced it would sacrifice its portion of the Railbelt Energy Fund if the state transfers the entire fund into the pending Renewable Energy Fund. A recent Mat-Su Borough poll shows that 88 percent of Valley residents want their electricity to come from renewable sources, like wind.However, of 205 megawatts of proposed electric generation proposed in Matanuska Electric Association's Integrated Resource Plan, 5 come from renewable resources, according to MEA's 2007 Integrated Resource Plan. Matanuska Electric currently draws 19.5 megawatts from the Eklutna Lake and Bradely Lake hydroelectric projects.Alaska has an abundance of renewable resources. With 34,000 miles of coastline for wave and tidal power, a chain of geothermal hot-spots bubbling up the Aleutians past Wasilla, biomass from fish oil, saw mills, landfill and Alaska's current largest source of renewable power, which produces 24 percent of the state's total electrical energy, hydroelectric, according to the Alaska Energy Authority. The communities along the Railbelt Intertie, the high-voltage line strung from Seward to Fairbanks, have rich renewable options nearby.Within 50 miles of the Intertie, near enough to connect by cable, lie several unique sources of renewable power.The volcanic Mount Spurr has the potential to produce megawatts of renewable geothermal power, according to the Alaska Energy Authority.Adjacent to Mount Spurr is Lake Chakachamna, a potential 300-400 megawatt hydropower source, according to a 1980s study by the Alaska Power Authority. South of Lake Chakachamna are Cook Inlet's Forelands.
The Forelands have good to excellent wind resources, according to the Alaska Energy Authority.A scaled down Susitna Dam project could provide the Mat-Su Valley with at least 200-megawatts according to Earle Ausman of Polar Consultants.Ausman also said that the Valley has 30 megawatts to 40 megawatts of Run of the River hydroelectric resources. Run of the River captures the energy in the natural flow of the river and eliminates the need for large dams.TXU Energy of Texas has proposed a plant to build 3,000 megawatts of new wind energy in Texas. The company, in conjunction with Shell, will use novel technology to better utilize Texas wind, said TXU spokesperson Thomas Kleckner.Because wind in Texas blows mostly at night and enegy-intensive air conditioner use rises with the triple-digit temperature during the day, TXU and Shell had to find a way to store energy for use when it is most needed. The Airsource Technology, used in prototype projects in Iowa and Alabama, could bridge this gap, said Kleckner.Nighttime electricity from TXU's wind turbines will be used to run air compressors that fill huge chambers dug under the Texas scrub brush, Kleckner said. During the heat of the day this air will be released, spinning turbines that resemble those used in natural gas generators.Kleckner said that wind power is affordable energy.“Essentially, once you have the wind turbines built there is very little other cost. You don't have to buy fuel, the wind is free,” Kleckner said.Wind turbines do need maintenance.Traditionally wind energy capacity is around 35 percent in Texas, but could be improved by the storage technology, Kleckner said.Chris Sauer of Ocean Renewable Power Corporation said his company plans to put a test tidal turbine into the Knik Arm in the spring of 2008.
The prototype turbine will be used to test the concept in the fast-moving currents of the Knik. If the prototype proves feasible, Sauer said Knik could support tidal generation up to about 17 megawatts."The renewable energy fund plays a critical role in providing incentives for development of new renewable energy technologies. Our tidal demonstration project we are conducting in Maine this November is a classic example,” said Chris Sauer, Ocean Renewable Power Corporation. “We could not do this critical demonstration of our OCGenT technology without financial support that came from the renewable energy funds in Maine and Massachusetts. Almost two-thirds of the funding needed came from renewable energy funding."Alaska Energy Authority and Renewable Energy Alaska Project recently released its “Renewable Energy Atlas of Alaska,” a 24-page estimate of Alaska's hydro, wind, biomass, solar and geothermal energy resources, www.aidea.org/aea.
Africa and Latin America to benefit from solar power developments
Bay Solar Power Design Shares Solar Technology with International Consumers.
PACIFICA, Calif. -- Bay Solar Power Design, a company dedicated to providing accessible solar energy worldwide, participated in a Nigerian Conference in Toronto to discuss designing solutions for solar energy in Africa. The company also joined Governor Schwarzenegger in a similar trade mission in Mexico in November.
John Bannen, CEO of Bay Solar Power Design, met with government officials and private sector representatives from Nigeria to discuss the benefits of solar energy for commercial and residential use in the West African country.
Reliable energy is problematic in several parts of the world, particularly in developing nations of Africa and Latin America. Bay Solar Power Design works to create an infrastructure to utilize solar energy in government facilities, commercial buildings, private homes, and rural communities that typically don't have access to electricity. Following the Nigerian Conference, Bannen will visit Africa for additional meetings with government and business leaders about providing solar energy solutions.
"Expanding to global markets, such as Mexico and Africa, is critical to expanding the reach and popularity of renewable technologies," stated Bannen. "Our products are appropriate for these countries. We are proud to have accompanied Governor Schwarzenegger on the Mexico trade mission to bring this technology to countries worldwide and are looking forward to our continued meetings with African businesses and government officials. When a country goes solar, it grows both economically and socially. By investing in a power plant instead of renting, they take projected expenses and turn them into capital investments or additional workforce -- growth that has a multiplier effect on businesses and municipalities."
The California Environmental & Energy Trade Mission to Mexico and the Nigerian Conference in Toronto are co-sponsored in part by Skyline College's Center for International Trade Development (CITD), an economic development initiative funded by the Chancellor for Community Colleges. The CITD vitalizes the local economy by helping small and medium size companies expand to global markets. Richard Soyombo of CITD has been instrumental in introducing Bay Solar Power Design to opportunities in Mexico, Africa and other international markets. According to Soyombo, "World organizations such as the United Nations have emphasized the need for third world countries to adopt solar energy as the way of the future."
PACIFICA, Calif. -- Bay Solar Power Design, a company dedicated to providing accessible solar energy worldwide, participated in a Nigerian Conference in Toronto to discuss designing solutions for solar energy in Africa. The company also joined Governor Schwarzenegger in a similar trade mission in Mexico in November.
John Bannen, CEO of Bay Solar Power Design, met with government officials and private sector representatives from Nigeria to discuss the benefits of solar energy for commercial and residential use in the West African country.
Reliable energy is problematic in several parts of the world, particularly in developing nations of Africa and Latin America. Bay Solar Power Design works to create an infrastructure to utilize solar energy in government facilities, commercial buildings, private homes, and rural communities that typically don't have access to electricity. Following the Nigerian Conference, Bannen will visit Africa for additional meetings with government and business leaders about providing solar energy solutions.
"Expanding to global markets, such as Mexico and Africa, is critical to expanding the reach and popularity of renewable technologies," stated Bannen. "Our products are appropriate for these countries. We are proud to have accompanied Governor Schwarzenegger on the Mexico trade mission to bring this technology to countries worldwide and are looking forward to our continued meetings with African businesses and government officials. When a country goes solar, it grows both economically and socially. By investing in a power plant instead of renting, they take projected expenses and turn them into capital investments or additional workforce -- growth that has a multiplier effect on businesses and municipalities."
The California Environmental & Energy Trade Mission to Mexico and the Nigerian Conference in Toronto are co-sponsored in part by Skyline College's Center for International Trade Development (CITD), an economic development initiative funded by the Chancellor for Community Colleges. The CITD vitalizes the local economy by helping small and medium size companies expand to global markets. Richard Soyombo of CITD has been instrumental in introducing Bay Solar Power Design to opportunities in Mexico, Africa and other international markets. According to Soyombo, "World organizations such as the United Nations have emphasized the need for third world countries to adopt solar energy as the way of the future."
Renewable energy projects in India bring solar power to forefront
article from: http://www.ecoworld.com/Home/articles2.cfm?tid=418
India becoming a Solar Power - India's Future Energy Demand to be met by clean green energy
by Avilash Roul
The world's largest solar steam cooking system at Tirupathi in Andhra Pradesh
Human civilization has been witnessing a gradual shift towards cleaner fuels-from wood to coal, from coal to oil, from oil to natural gas; renewables are the present demand...
With the fluctuating high cost of petroleum, minimizing dependence on importing conventional energy resources, stewardship to protect the Planet and providing affordable energy to all, countries including India have stepped up their energy path for harnessing indigenous renewable resources. To tap the infinite energy and transform as well as transmit it to each household, the Indian government has accelerated promotion of the use of universally available Solar Energy.
India due to its geo-physical location receives solar energy equivalent to nearly 5,000 trillion kWh/year, which is far more than the total energy consumption of the country today. But India produces a very negligible amount of solar energy - a mere 0.2 percent compared to other energy resources. Power generation from solar thermal energy is still in the experimental stages in India. Up till now, India's energy base has been more on conventional energy like coal and oil. However, India has now attained 7th place worldwide in Solar Photovoltaic (PV) Cell production and 9th place in Solar Thermal Systems. Grid-interactive renewable power installed capacity as on 31.10.2006 aggregated 9,013 MW corresponding to around 7 percent of the total power installed capacity which equates to over 2 percent of total electricity.
Worldwide photovoltaic installations increased by 1,460 MW in 2005, up from 1,086 MW installed during the previous year. That was a 67 percent increase over the 750 MW produced in 2003. In 2002 the world solar market increased 40 percent. Solar Energy demand has grown at about 25 percent per annum over the past 15 years. In 1985, worldwide annual solar installation demand was only 21 MW. According to the IEA's factsheet, "Renewables in Global Energy Supply," the solar energy sector has grown by 32 per annum since 1971. Worldwide, grid-connected solar PV continued to be the fastest growing power generation technology, with a 55 percent increase in cumulative installed capacity to 3.1 GW, up from 2.0 GW in 2004, as per "Renewable Global Status Update Report 2006" (http://www.ecoworld.com/Home/www.ren21.net). Similarly, India witnessed an acceleration of solar hot water installations in 2005. Global production of solar PV increased from 1,150 MW in 2004 to over 1,700 MW in 2005. Japan was the leader in cell production (830 MW), followed by Europe (470 MW), China (200 MW), and the US (150 MW).
In the sun during the day, providing lighting at night,a photovoltaic/battery lantern illuminates the home
India: Status of Solar Energy:
The solar PV program was begun in the mid 70's in India. While the world has progressed substantially in production of basic silicon mono-crystalline photovoltaic cells, India has fallen short to achieve the worldwide momentum. In early 2000, nine Indian companies were manufacturing solar cells. During 1997-98 it was estimated that about 8.2 MW capacity solar cells were produced in the country. The total installed manufacturing capacity was estimated to be 19 MW per year. The major players in Solar PV are Bharat Heavy Electricals Ltd. (BHEL) (http://www.bhel.com/bhel/home.php); Central Electrtonics Ltd., and Rajasthan Electricals & Instruments Ltd., as well as by several companies in the private sector. The latest, 100 million dollars investment from Tata BP Solar in India is the pointer towards the booming solar market in India. Of late, the market is growing for SPV applications based products with the active encouragement of the government.
The Ministry of New and Renewable Energy (http://www.ecoworld.com/Home/www.mnes.nic.in), earlier known as the Ministry of Non-conventional Energy Sources - have initiated innovative schemes to accelerate utilisation and exploitation of the solar energy. Number of incentives like subsidy, soft loan, 80 percent accelerated depreciation, confessional duty on import of raw materials and certain products, excise duty exemption on certain devices/systems etc. are being provided for the production and use of solar energy systems. The Indian Renewable Energy Development Agency (IREDA) - http://mnes.nic.in/annualreport/2004_2005_English/ch12_pg1.htm - a Public Limited Company established in 1987- provides revolving fund to financing and leasing companies offering affordable credit for the purchase of PV systems. As a result, the Renewable Energy Sector is increasingly assuming a greater role in providing grid power to the Nation as its total capacities reached about 9,013 MW. This apart, the Electricity Act 2003, National Electricity Policy 2005 and National Tariff Policy 2006 provide a common framework for the regulation of renewable power in all States/UTs through quotas, preferential tariffs, and guidelines for pricing 'non-firm' power.
However, in the Draft New and Renewable Energy Policy Statement 2005, which is yet be approved, the federal government is very cautious about the status of renewable energy in the future. It says, "despite the fact that the biomass-solar- hydrogen economy is some decades away, it should not make industry and the scientific & technical community of the country unduly complacent into believing that necessary steps for expected changes can wait."
Present Scenario of Solar Power:
The MNES has been implementing installation of solar PV water pumping systems for irrigation and drinking water applications through subsidy since 1993-94. Typically, a 1,800 Wp PV array capacity solar PV water pumping system, which cost about Rs. 3.65 lakh, is being used for irrigation purposes. The Ministry is providing a subsidy of Rs.30 per watt of PV array capacity used, subject to a maximum of Rs. 50,000 per system. The majority of the pumps fitted with a 200 watt to 3,000 watt motor are powered with 1,800 Wp PV array which can deliver about 140,000 liters of water/day from a total head of 10 meters. By 30th September, 2006, a total of 7,068 solar PV water pumping systems have been installed.
A total of 32 grid interactive solar PV power plants have been installed in the country with financial assistance from the Federal Government. These plants, with aggregate capacity of 2.1 MW, are estimated to generate about 2.52 million units of electricity in a year. In 1995, an aggregate area of 4 lakh square meters of solar collectors were installed in the country for thermal applications such as water heating, drying cooking etc. The thermal energy generated from these devices was assessed at over 250 million kwh per year. In addition, solar PV systems with an aggregate capacity of 12 MW were installed for applications such as lighting, water pumping, communications, etc. These systems are capable of generating 18 million kwh of electricity per year. In 2003 alone, India added 2.5 MW of solar PVs. For rural electrification as well as employment and income generation, about 16,530 solar photovoltaic lighting systems were installed during 2004-05. Over 150,000 square meters of collector area has been installed in the country for solar water heating in domestic, industrial and commercial sectors making the cumulative installed collector area over one million square meters. State-wise details of cumulative achievements under various non-conventional energy programmes, as on 31.03.2006 are shown in the table below:
for table see: http://www.ecoworld.com/Home/articles2.cfm?tid=418
MINISTRY OF NON-CONVENTIONAL ENERGYFUNDED PHOTOVOLTAIC OUTPUT BY STATE
Government-funded solar energy in India only accounted forapproximately 6.4 megawatt-years of power as of 2005
Similarly, India's Integrated Rural Energy Program using renewable energy had served 300 districts and 2,200 villages by early 2006. More than 250 remote villages in seven states were electrified under the program during 2005, with additional projects under implementation in over 800 villages and 700 hamlets in 13 states and federal territories (see table below). Rural applications of solar PV had increased to 340,000 home lighting systems, 540,000 solar lanterns, and 600,000 solar cookers in use.
INDIA'S INTEGRATED RURAL ENERGY PROGRAMREMOTE VILLAGES SELECTED FOR SOLAR ELECTRIFICATION
By 2006 over 2,400 off-grid villages in India hadreceived solar thermal and photovoltaic systems
Future Plans:
An Expert Committee constituted by the Planning Commission has prepared an Integrated Energy Policy that aims at achieving integrated development and deployment of different energy supply sources, including new & renewable energy. The grid-interactive renewable power installed capacity is expected to reach 10,000 MW as on corresponding to a share of over 2 per cent in the electricity-mix, by 31.3.2007. Further capacity addition of 14,000 MW is envisaged during the 11th Plan (2007-12) leading to a then share of around 5 per cent in the electricity-mix but mostly through hydro-power. A 10 million square meter solar collector area capable of conserving electricity equivalent to that generated from a 500 MW power plant is expected to be set up by 2022. India has recently proposed to augment cooking, lighting, and motive power with renewable in 600,000 villages by 2032, starting with 10,000 remote off-grid villages by 2012.
External Support:
A four-year $7.6 million effort was launched in April 2003 to help accelerate the market for financing solar home systems in southern India. The project is a partnership between UNEP Energy Branch, UNEP Risoe Centre (URC), (http://uneprisoe.org/) two of India's major banking groups - Canara Bank and Syndicate Bank, and their sponsored Grameen Banks. As per the existing policy, Foreign Direct Investment up to 100 percent is permitted in non-conventional energy sector through the automatic route. The FDI received in non-conventional energy sector from January 2003 to September 2006 is estimated at around Rs.35 crore. The Multilateral Development Banks like World Bank and Asian Development Bank are also helping India to achieve its potential on renewable resources. But, the funding from MDBs on solar energy enhancement is negligible compare to other clean energy support in India.
solar energy in India article at: http://www.ecoworld.com/Home/articles2.cfm?tid=418
India becoming a Solar Power - India's Future Energy Demand to be met by clean green energy
by Avilash Roul
The world's largest solar steam cooking system at Tirupathi in Andhra Pradesh
Human civilization has been witnessing a gradual shift towards cleaner fuels-from wood to coal, from coal to oil, from oil to natural gas; renewables are the present demand...
With the fluctuating high cost of petroleum, minimizing dependence on importing conventional energy resources, stewardship to protect the Planet and providing affordable energy to all, countries including India have stepped up their energy path for harnessing indigenous renewable resources. To tap the infinite energy and transform as well as transmit it to each household, the Indian government has accelerated promotion of the use of universally available Solar Energy.
India due to its geo-physical location receives solar energy equivalent to nearly 5,000 trillion kWh/year, which is far more than the total energy consumption of the country today. But India produces a very negligible amount of solar energy - a mere 0.2 percent compared to other energy resources. Power generation from solar thermal energy is still in the experimental stages in India. Up till now, India's energy base has been more on conventional energy like coal and oil. However, India has now attained 7th place worldwide in Solar Photovoltaic (PV) Cell production and 9th place in Solar Thermal Systems. Grid-interactive renewable power installed capacity as on 31.10.2006 aggregated 9,013 MW corresponding to around 7 percent of the total power installed capacity which equates to over 2 percent of total electricity.
Worldwide photovoltaic installations increased by 1,460 MW in 2005, up from 1,086 MW installed during the previous year. That was a 67 percent increase over the 750 MW produced in 2003. In 2002 the world solar market increased 40 percent. Solar Energy demand has grown at about 25 percent per annum over the past 15 years. In 1985, worldwide annual solar installation demand was only 21 MW. According to the IEA's factsheet, "Renewables in Global Energy Supply," the solar energy sector has grown by 32 per annum since 1971. Worldwide, grid-connected solar PV continued to be the fastest growing power generation technology, with a 55 percent increase in cumulative installed capacity to 3.1 GW, up from 2.0 GW in 2004, as per "Renewable Global Status Update Report 2006" (http://www.ecoworld.com/Home/www.ren21.net). Similarly, India witnessed an acceleration of solar hot water installations in 2005. Global production of solar PV increased from 1,150 MW in 2004 to over 1,700 MW in 2005. Japan was the leader in cell production (830 MW), followed by Europe (470 MW), China (200 MW), and the US (150 MW).
In the sun during the day, providing lighting at night,a photovoltaic/battery lantern illuminates the home
India: Status of Solar Energy:
The solar PV program was begun in the mid 70's in India. While the world has progressed substantially in production of basic silicon mono-crystalline photovoltaic cells, India has fallen short to achieve the worldwide momentum. In early 2000, nine Indian companies were manufacturing solar cells. During 1997-98 it was estimated that about 8.2 MW capacity solar cells were produced in the country. The total installed manufacturing capacity was estimated to be 19 MW per year. The major players in Solar PV are Bharat Heavy Electricals Ltd. (BHEL) (http://www.bhel.com/bhel/home.php); Central Electrtonics Ltd., and Rajasthan Electricals & Instruments Ltd., as well as by several companies in the private sector. The latest, 100 million dollars investment from Tata BP Solar in India is the pointer towards the booming solar market in India. Of late, the market is growing for SPV applications based products with the active encouragement of the government.
The Ministry of New and Renewable Energy (http://www.ecoworld.com/Home/www.mnes.nic.in), earlier known as the Ministry of Non-conventional Energy Sources - have initiated innovative schemes to accelerate utilisation and exploitation of the solar energy. Number of incentives like subsidy, soft loan, 80 percent accelerated depreciation, confessional duty on import of raw materials and certain products, excise duty exemption on certain devices/systems etc. are being provided for the production and use of solar energy systems. The Indian Renewable Energy Development Agency (IREDA) - http://mnes.nic.in/annualreport/2004_2005_English/ch12_pg1.htm - a Public Limited Company established in 1987- provides revolving fund to financing and leasing companies offering affordable credit for the purchase of PV systems. As a result, the Renewable Energy Sector is increasingly assuming a greater role in providing grid power to the Nation as its total capacities reached about 9,013 MW. This apart, the Electricity Act 2003, National Electricity Policy 2005 and National Tariff Policy 2006 provide a common framework for the regulation of renewable power in all States/UTs through quotas, preferential tariffs, and guidelines for pricing 'non-firm' power.
However, in the Draft New and Renewable Energy Policy Statement 2005, which is yet be approved, the federal government is very cautious about the status of renewable energy in the future. It says, "despite the fact that the biomass-solar- hydrogen economy is some decades away, it should not make industry and the scientific & technical community of the country unduly complacent into believing that necessary steps for expected changes can wait."
Present Scenario of Solar Power:
The MNES has been implementing installation of solar PV water pumping systems for irrigation and drinking water applications through subsidy since 1993-94. Typically, a 1,800 Wp PV array capacity solar PV water pumping system, which cost about Rs. 3.65 lakh, is being used for irrigation purposes. The Ministry is providing a subsidy of Rs.30 per watt of PV array capacity used, subject to a maximum of Rs. 50,000 per system. The majority of the pumps fitted with a 200 watt to 3,000 watt motor are powered with 1,800 Wp PV array which can deliver about 140,000 liters of water/day from a total head of 10 meters. By 30th September, 2006, a total of 7,068 solar PV water pumping systems have been installed.
A total of 32 grid interactive solar PV power plants have been installed in the country with financial assistance from the Federal Government. These plants, with aggregate capacity of 2.1 MW, are estimated to generate about 2.52 million units of electricity in a year. In 1995, an aggregate area of 4 lakh square meters of solar collectors were installed in the country for thermal applications such as water heating, drying cooking etc. The thermal energy generated from these devices was assessed at over 250 million kwh per year. In addition, solar PV systems with an aggregate capacity of 12 MW were installed for applications such as lighting, water pumping, communications, etc. These systems are capable of generating 18 million kwh of electricity per year. In 2003 alone, India added 2.5 MW of solar PVs. For rural electrification as well as employment and income generation, about 16,530 solar photovoltaic lighting systems were installed during 2004-05. Over 150,000 square meters of collector area has been installed in the country for solar water heating in domestic, industrial and commercial sectors making the cumulative installed collector area over one million square meters. State-wise details of cumulative achievements under various non-conventional energy programmes, as on 31.03.2006 are shown in the table below:
for table see: http://www.ecoworld.com/Home/articles2.cfm?tid=418
MINISTRY OF NON-CONVENTIONAL ENERGYFUNDED PHOTOVOLTAIC OUTPUT BY STATE
Government-funded solar energy in India only accounted forapproximately 6.4 megawatt-years of power as of 2005
Similarly, India's Integrated Rural Energy Program using renewable energy had served 300 districts and 2,200 villages by early 2006. More than 250 remote villages in seven states were electrified under the program during 2005, with additional projects under implementation in over 800 villages and 700 hamlets in 13 states and federal territories (see table below). Rural applications of solar PV had increased to 340,000 home lighting systems, 540,000 solar lanterns, and 600,000 solar cookers in use.
INDIA'S INTEGRATED RURAL ENERGY PROGRAMREMOTE VILLAGES SELECTED FOR SOLAR ELECTRIFICATION
By 2006 over 2,400 off-grid villages in India hadreceived solar thermal and photovoltaic systems
Future Plans:
An Expert Committee constituted by the Planning Commission has prepared an Integrated Energy Policy that aims at achieving integrated development and deployment of different energy supply sources, including new & renewable energy. The grid-interactive renewable power installed capacity is expected to reach 10,000 MW as on corresponding to a share of over 2 per cent in the electricity-mix, by 31.3.2007. Further capacity addition of 14,000 MW is envisaged during the 11th Plan (2007-12) leading to a then share of around 5 per cent in the electricity-mix but mostly through hydro-power. A 10 million square meter solar collector area capable of conserving electricity equivalent to that generated from a 500 MW power plant is expected to be set up by 2022. India has recently proposed to augment cooking, lighting, and motive power with renewable in 600,000 villages by 2032, starting with 10,000 remote off-grid villages by 2012.
External Support:
A four-year $7.6 million effort was launched in April 2003 to help accelerate the market for financing solar home systems in southern India. The project is a partnership between UNEP Energy Branch, UNEP Risoe Centre (URC), (http://uneprisoe.org/) two of India's major banking groups - Canara Bank and Syndicate Bank, and their sponsored Grameen Banks. As per the existing policy, Foreign Direct Investment up to 100 percent is permitted in non-conventional energy sector through the automatic route. The FDI received in non-conventional energy sector from January 2003 to September 2006 is estimated at around Rs.35 crore. The Multilateral Development Banks like World Bank and Asian Development Bank are also helping India to achieve its potential on renewable resources. But, the funding from MDBs on solar energy enhancement is negligible compare to other clean energy support in India.
solar energy in India article at: http://www.ecoworld.com/Home/articles2.cfm?tid=418
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WARNING: Investing in common equity of public companies is a high risk, high potential reward activity. Owning investments in individual alternative energy companies is for high risk investors only, and medium risk investors should consider green mutual funds, clean energy funds, renewable power index funds and other sector plays. Even then, these should be owned as part of a widely diversified portfolio. There is a gathering mania for investing in publicly-traded alternative energy companies, similar to the computer, technology, internet and banking / real estate booms of the past two decades. There will be some nasty corrections along the way, and some years from now when they come crashing down en masse, the world will still benefit from all the amazingly advanced clean and efficient energy technology created during the bull run. (Above note re-written March 2009 as my earlier prediction of a market top and a crash in the sector starting in August '09 was hastened by the credit markets collapse and began in August 2008, before the bubble had fully formed. Of all the sectors in the equity markets, clean energy has the best prospects to assume market leadership and public favour; we are bouncing aong the bottom still, and those who have followed our guidance to begin including (in a judiciously blended portfolio of cash, bonds, stocks and yes, um... real estate) green energy investment funds dollar-cost-averaging programs in Winter and Spring of 2009 are well positioned for longterm capital growth.)
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