Top 5 Richest Tycoons in Renewable Energy
The growth of the solar industry is truly astounding, particularly in China, the world’s solar leader. Between 2011 and 2012 the Chinese solar market grew by 500 percent. According to a 2014 report by Frost & Sullivan, a consulting firm, the global solar market earned revenues of nearly $60 billion in 2013. The firm estimates that by 2020 it will double to $137.2 billion.
With all this growth, somebody was obviously going to get rich, and it didn’t take long for Oilprice.com to identify some of the biggest beneficiaries of the push toward renewables. The following are 5 of the world’s most successful renewable energy business leaders and their net worth.
1. Li Hejun, Chairman, Hanenergy Holdings. $31.5 billion.
2. Elon Musk, Founder/CEO, Space Exploration Technologies Corp., Tesla Motors. $12.2 billion.
3. Wang Chuanfu, Founder, BYD Company. $5.3 billion.
4. Aloys Wobben, Founder/Owner, Enercon. $4.2 billion.
5. Zhu Gongshan, Chairman, GCL-Poly Energy Holdings.
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The $5 Billion Race to Build a Better Battery
Professor Donald Sadoway remembers chuckling at an e-mail in August 2009 from a woman claiming to represent Bill Gates. The world’s richest man had taken Sadoway’s Introduction to Solid State Chemistry online, the message explained. Gates wondered if he could meet the guy teaching the popular MIT course the next time the billionaire was in the Boston area, Bloomberg Markets magazine will report in its May issue. “I thought it was a student prank,” says Sadoway, who’s spent more than a decade melting metals in search of a cheap, long-life battery that might wean the world off dirty energy. He’d almost forgotten the note when Gates’s assistant wrote again to plead for a response.
A month later, Gates and Sadoway were swapping ideas on curbing climate change in the chemist’s second-story office on the Massachusetts Institute of Technology campus. They discussed progress on batteries to help solar and wind compete with fossil fuels. Gates said to call when Sadoway was ready to start a company. “He agreed to be an angel investor,” Sadoway says. “It would have been tough without that support.”
Sadoway is ready. He and a handful of scientists with young companies and big backers say they have a shot at solving a vexing problem: how to store and deliver power around the clock so sustainable energies can become viable alternatives to fossil fuels. How these storage projects are allowing utility power customers to defect from the grid is one of the topics for debate this week at the Bloomberg New Energy Finance conference in New York. Today’s nickel-cadmium and lithium-ion offerings aren’t up to the task. They can’t run a home for more than a few hours or most cars for more than 100 miles (160 kilometers). At about $400 per kilowatt-hour, they’re double the price analysts say will unleash widespread green power. “Developing a storage system beyond lithium-ion is critical to unlocking the value of electric vehicles and renewable energy,” says Andrew Chung, a partner at Menlo Park, California–based venture capital firm Khosla Ventures.
In The Midst Of Toxic Oil Spill, Vancouver Announces It Will Go 100 Percent Renewable
There’s some mixed news coming out of Vancouver, Canada this week. On the one hand, the city announced at an international sustainability summit that it would commit to using 100 percent renewable energy to power its electricity, transportation, heating and air conditioning within 20 years. On the other hand, Vancouver is also dealing with a fuel spill in the waters of English Bay that is washing up on beaches and threatening wildlife.
On March 26, Vancouver’s city council voted unanimously to approve Mayor Gregor Robertson motion calling for a long-term commitment to deriving all of the city’s energy from renewable sources. At the ICLEI World Congress 2015 this week in Seoul, South Korea, the city went a step further, committing to reaching that goal of 100 percent renewable electricity, transportation, heating and air conditioning by 2030 or 2035.
Right now, Vancouver gets 32 percent of its energy — that includes electricity, transportation, heating, and cooling — from renewable sources, so the goal is ambitious, but not impossible. According to the Guardian, Vancouver could get all of its electricity from renewables within a few years, but transportation, heating, and cooling may prove more difficult.
Wind Power Creates 30,000 Texas Jobs, Generates $85 million in Taxes
The boom in West Texas wind-powered electricity generation has delivered a major economic boost to the region, including creation of over 40 new businesses and 30,000 construction jobs in 57 West Texas counties since 2001, according to data collected by Public Citizen’s Texas office.
The 40 new manufacturers and businesses make everything from wind turbine blades and steel towers to electronics, according to the data. Wind farms also generate over $85 million in taxes annually in rural Texas counties and more than $9 billion in new taxable assets in the last 14 years.
Over a five-month period in 2014 and 2015, Public Citizen’s Texas office collected data on the economic impact of wind development from county appraisers and tax assessors in the 57 West Texas counties. The data includes estimates of investment values, employment, tax revenues, and lease payments by wind farms, and it reflects review of previous research and case studies.
As California Faces Record Drought Levels, Wind Energy Provides A Vital Service
In 2014, wind energy saved 2.5 billion gallons of water in California by displacing water consumption at the state's fossil-fired power plants, playing a valuable role in alleviating the state's record drought. Wind energy's annual water savings work out to around 65 gallons per person in the state - or the equivalent of 20 billion bottles of water, according to the American Wind Energy Association (AWEA).
According to AWEA, one of wind energy's most overlooked benefits is that it requires virtually no water to produce electricity while almost all other electricity sources evaporate tremendous amounts of water.
In California - where the state is combating record drought levels - Gov. Jerry Brown recently signed an executive order to reduce household water consumption by 25%, from about 140 gallons per day per household to 105 gallons. Wind energy's water savings are, therefore, equivalent to what would be saved by nearly one week's worth of the required reductions for a typical household.
In 2008, U.S. thermal power plants withdrew 22 trillion to 62 trillion gallons of freshwater from rivers, lakes, streams and aquifers and consumed 1 trillion to 2 trillion gallons. By displacing generation from these conventional power plants, U.S. wind energy currently saves around 35 billion gallons of water per year - the equivalent of 120 gallons per person or 285 billion bottles of water.
Obama wants to train 75,000 new solar workers by 2020
President Obama launch a new initiative to expand the nation’s solar industry workforce during a visit to Utah’s Hill Air Force Base on Friday, seeking to gain support for his economic agenda in a heavily-Republican state.
The Energy Department will seek to train 75,000 people — including veterans — to enter the solar workforce by 2020, increasing the goal it set in May 2014 by 25,000.
“We’ve got to be relentless in our work to grow the economy and create good jobs,” Obama said after touring the brief tour, adding that other nations are seeking to expand their economies as well. “And that’s why we have to redouble our efforts to make sure that we’re competitive, to make sure that we’re taking the steps that are needed for us to be successful.”
Tesla's New Product Secretly Tested By 330 Consumers
From Benzinga: Global Equities Research analyst Trip Chowdhry has revealed some interesting information about Tesla Motors Inc 's new product line.
Outside of the fact that it will not be a car, very little is known about what Tesla plans to announce. Some experts think it could be a motorcycle. Others assume that it will be an in-home battery that involves solar energy.
If Chowdhry's information is correct, it seems that Tesla is ready to launch the latter.
In a note to investors, Chowdhry said that he knows of two people that own a residential battery from Tesla. He spoke to one of those owners and detailed the following bullet points:
"There are about 230 Households in California, who currently have Tesla Stationary Battery installed in their Homes. Another about 100 Households are out of California.
This customer had the Tesla Stationary Battery for about One and a Half years, and is installed in his garage."
Last year, Chowdhry attended a sustainability conference and learned that Google Inc is "widely believed" to have a few Tesla (commercial-grade) batteries in some of its buildings. Apple Inc. might also purchase some of these batteries for its new campus.
Chowdhry believes that Tesla's commercial-grade batteries are rated at more than 400 kWh.
Subpar Solar Irradiance Undermines East Coast Project Performance
The East Coast of the U.S. experienced up to 5% lower than average levels of solar irradiance in 2014, negatively impacting overall performance of solar sites in the region. Concurrently, the West Coast enjoyed irradiance levels up to 10% higher than average, widening the productivity gap between projects in the country's two areas of highest solar development.
This disparity is clearly seen in the 2014 Solar Performance Maps of the United States, released today by Vaisala, a global leader in environmental and industrial measurement.
While it is well-established that the solar resource of the East does not match that of the West, the Atlantic Coast has a large volume of operational capacity and it is therefore of critical importance for project operators in the region to understand the reasons behind below average energy output and whether it is due to malfunctioning equipment or weather variability.
Vaisala's 2014 study illustrates the impact of short-term, month-to-month weather variations on performance at U.S. solar projects and places them into a long-term context. This reveals frequent and significant deviations from long-term average irradiance conditions and highlights the clear requirement to analyze the effect of solar resource variability on both over and underperformance.
From an annual perspective, this year's weather patterns had an adverse effect on a large number of installations along the Atlantic Coast from Florida to Massachusetts, as well as Texas, while the bulk of projects in California and the Southwest saw an uptick in solar irradiance that may have increased overall 2014 production at many sites.
However, these annual variations only offer a high-level view of project performance. Vaisala also conducted a monthly analysis that gives a much more robust understanding of how specific weather conditions affected solar production throughout the year.
CloudSolar Helps Renewable Energy Fans Who Can't Install Their Own Solar Panels
Catherine Shu for TechCrunch: Solar panels are becoming increasingly affordable, but many people still face barriers to harnessing the power of the sun for their own homes. For example, they might live in an apartment or in a house where the roof is angled or structured improperly for solar panel installation.
A new Boston-based startup called CloudSolar is offering an intriguing solution. Founded by a team including two electrical engineering Ph.D. candidates and currently raising funds on Indiegogo, CloudSolar lets people buy a solar panel, or a share in one, on a farm that is expected to be completed by 2016 (erecting the solar panels will only take a couple of months, but the company also has to deal with utility and land permits, which will take longer).
Once the farm is up and operating, electricity generated by the solar panels will be sold to local utilities. Solar panel owners are promised 80 percent of the total proceeds created by the panels over the next 25 years, and help with applying for whatever tax credits they are eligible for. They can monitor how much energy their panel is producing, and how much carbon dioxide emissions it is estimated to offset, through an app.
These States Are the Early Leaders in the US Energy Storage Market
Eric Wesoff for GreenTech Media: Energy storage is a small market experiencing fierce growth. The U.S. installed 61.9 megawatts of energy storage in 2014, and GTM Research is forecasting 220 megawatts to be installed in 2015. But, as with the U.S. solar industry, energy storage projects are clustered in states with incentives or in regions where markets are able to place a value on storage.
So it's no surprise that California, Hawaii, and New York have assumed early leadership in energy storage by virtue of their unique incentives, mandates and markets, according to the inaugural GTM Research and Energy Storage Association U.S. Energy Storage Monitor report. Cont'd...
See-Through Solar Is Tomorrow's Threat to Oil
The engineers at Ubiquitous Energy are developing solar panels that are completely transparent and as thin as a laminate. They can do this by creating see-through solar cells that absorb only the invisible parts of the solar spectrum—ultraviolet and infrared radiation.
The technology still has a way to go because the cells must become more efficient to prove cost-effective, but their promise is big: solar cells that could become a part of any glass or plastic surface. They could sit, invisibly, atop a smartphone’s display, allowing the phone to charge itself under natural or artificial light. And if the process became part of glass and window manufacturing, homes and skyscrapers could draw power from the sun without the spatial and aesthetic limits of current, opaque solar panels.
US Energy Storage Market Could Triple This Year
The energy storage market is poised for substantial growth over the next five years, with installed capacity this year expected to more than triple to 220 MW from last year’s 62 MW.
A recent report from GTM Research and the Energy Storage Association, ‘U.S. Energy Storage Monitor,’ projected that the market will grow from $128 million last year to $1.5 billion by 2019, when more than 800 MW will be installed.
Moreover, non-utility storage – residential and non-residential – will grow from just 10% of installed capacity last year to 45% over the same period.
This is a bullish forecast for downstream residential vendors identified in the report, such as Schneider Electric, Outback Power, Sunverge, and Solar City.
Solar eclipse illuminates importance of energy storage
Friday's solar eclipse highlights the importance of energy storage to the continued growth of solar, experts have claimed.
Energy consultancy Frost & Sullivan estimate that by covering 85% of the sun; the eclipse removed 35GW of solar power from the European grid - equivalent to 80 conventional power plants.
This sort of instability will drive generators to invest in better storage facilities to ensure a constant security of supply, according to the consultants.
"Dealing with events like this one requires investment in various storage tools and monitoring techniques which create a certain amount of flexibility in the energy system," said the report.
The nascent technology of pump storage - pumping water uphill into large reservoirs when power is abundant and then letting it flow down again to generate power when needed - will reportedly be valuable in preparing for the eclipse in Germany.
Texas City Pulls Plug on Fossil Fuels With Shift to Solar Power
Christopher Martin for Bloomberg: A Texas city just north of Austin plans to begin weaning its residents from fossil fuels.
The municipal utility in Georgetown, with about 50,000 residents, will get all of its power from renewable resources when SunEdison Inc. completes 150 megawatts of solar farms in West Texas next year. The change was announced Wednesday.
It will be the first city to completely embrace clean power in the state, which is the biggest U.S. producer and user of natural gas. More will follow as municipalities seek to insulate themselves from unpredictable prices for fossil fuels, said Paul Gaynor, SunEdison’s executive vice president of North America. Burlington, Vermont, made a similar move with its purchase of a hydroelectric plant last year.
“This will be the first of many,” Gaynor said in a telephone interview. “The city is making a judgment that they want to enjoy a stable electricity price.”
Harvesting solar power in space one step closer
From Tereza Pultarova for E&T Magazine: Japanese engineering giant Mitsubishi has successfully demonstrated wireless power transmission over a larger distance paving the way for harvesting energy in outer space.
During the test at Mitsubishi Heavy Industries’ Kobe Shipyard & Machinery Works facility near Osaka, the engineers managed to beam 10kW of power through a microwave transmitter across a 500m distance.
As the beam of microwaves hit the receiver and got converted back into energy, its LED lights turned on using the received power.
Mitsubishi said the test ‘marks a new milestone’ in terms of both, the distance and power load, and verifies the firm’s space solar power systems (SSPS) concept.
Mitsubishi envisions SSPS will take solar energy generation to an entirely new level. Solar panels would be placed at geostationary satellites, which hang above a fixed spot above the Earth’s surface at the distance of 36,000km, and unhindered by Earth’s atmosphere would generate energy much more efficiently.
The wireless transmission system, freeing energy generation from the reliance on cables and wires, would then beam the energy to Earth using a microwave or laser technology.
Mitsubishi believes space-based solar power will revolutionise renewable energy generation and will in future become the world’s number one source of clean renewable power.
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