Yale University police cited 19 students after they staged a sit-in outside President Peter Salovey’s office to push for divestment from fossil-fuel companies.

Reflecting the azure skies of the Caribbean, solar panels on private houses, hotels and businesses are an increasingly common sight across all the islands. Many Caribbean customers are seeking a degree of energy independence, which is not surprising given that many pay five or six times as much for their grid-provided electricity than their neighbours in mainland USA.

Last June, the Environmental Protection Agency (EPA) proposed the first ever national carbon pollution standards for existing power plants. Fossil fuel-fired power plants account for almost 40% of U.S. carbon dioxide emissions, making them the largest source of greenhouse gas emissions in the nation and one of the single largest categories of greenhouse gas sources in the world.

Executives from 13 major U.S. corporations are announcing at least $140 billion in new investments to decrease their carbon footprints as part of a White House initiative to recruit private commitments ahead of a United Nations climate-change summit later this year in Paris.

Companies including Apple Inc., Berkshire Hathaway Energy Co., and Goldman Sachs Group Inc. will join Secretary of State John Kerry and top administration officials at the White House for the announcement. In addition to pledges to cut emissions, provide financing to environmentally-focused companies, and reduce water consumption, the companies have said they will procure at least 1,600 MW of new, renewable energy. The White House said in a statement that it expects to announce a second round of similar pledges later this fall from additional companies.

The commitments are being announced as President Barack Obama is looking to build momentum toward a legacy-defining global climate accord in Paris. In addition to company-specific commitments, the corporate leaders on Monday will signal their support for a strong climate agreement out of the United Nations talks. They administration is using the pledges to set an example for companies to find ways to eliminate their carbon emissions.

Climate Talks

“As the world looks toward global climate negotiations in Paris this December, American leadership at all levels will be essential,” the White House said in a fact sheet detailing the announcement.

The administration’s actions are pushing the issue into the 2016 presidential debate. Hillary Clinton, the front-runner for the Democratic nomination, released an energy strategy saying she would both defend and go beyond Obama’s efforts. Republican candidates have criticized the administration’s initiatives as costly to the economy and unnecessary.

Among the pledges, aluminum manufacturer Alcoa Inc. has agreed to reduce emissions by 50 percent from its 2005 levels, while agricultural giant Cargill Inc. says 18 percent of its total energy use will come from renewable sources.

Coca-Cola Co. said it would drive down the carbon footprint of its beverage production by 25 percent over the next five years, while Google says it plans to triple its purchases of renewable energy over the next decade. Berkshire Hathaway says it plans to invest up to an additional $15 billion in the construction and operation of renewable energy generators, while Bank of America Corp says it will increase its environmental business initiative by $75 billion over the next decade, according to the White House

Other participating firms include Wal-Mart, United Parcel Service Inc., PepsiCo Inc., Microsoft Corp., General Motors Inc.

The corporate commitments won’t be the administration’s only major climate announcement in the next few weeks. The Environmental Protection Agency is set to present final regulations that aim to reduce carbon emissions from power plants by 30 percent from 2005 levels by 2030 later this week.

While visiting Kenya over the weekend, Obama repeatedly praised the country for its efforts to address climate change, saying its efforts tor educe emissions “has put it in the position of being a leader on the continent.” And next month, the president will travel to Alaska for an international summit on Arctic climate issues.

©2015 Bloomberg News

For more, see Big Companies, Big Renewable Investments.

Hawaii Governor David Ige on Aug. 21 joined executives from the Office of Ocean Naval Research (ONR), Makai Ocean Engineering and other organizations on-site at the Natural Energy Laboratory of Hawaii Authority (NELHA) in cutting the ribbon and commissioning the first U.S., and world's largest, grid-connected ocean thermal energy conversion (OTEC) power plant.

British Columbia-based tidal developer, Yourbrook Energy Systems Ltd., is testing what it calls a prototype of a shallow water tidal-powered generator pump that could one day be used as part of a pumped storage hydroelectric project.
 

Marubeni Corp. began a geothermal survey of Daisetsuzan National Park on the northern island of Hokkaido that will continue through February in the hopes Japan will discover more clean-energy sources.

The possibility of producing shale gas in some European countries has triggered a very heated debate about the environmental and social impacts of the technique used to extract gas from shale rocks (today only in the US and Canada); this technique is widely known as hydraulic fracturing or fracking.

The U.S. Army Corps of Engineers – Engineer Support Center, based in Huntsville, Ala., this week announced a new contract for use of geothermal technology as part of the Multiple Award Task Order Contract (MATOC) series for renewable and alternative energy production work orders at Department of Defense (DOD) installations.

A renewable industry investment executive told geothermal industry leaders in Las Vegas Monday (Sept. 30) that slow growth and unfair renewable tax incentives threatened the future of geothermal power.

Alternative energy mutual funds (MF) racked up extremely robust gains in the past year. Returns range from a low of 16 percent, to a high of 64 percent for a mutual fund that is heavy into solar investments. Exchange traded funds (ETF) also did well, but returns are much more variable. They range from a loss of 34 percent for a carbon ETF, to more than doubling of a solar ETF.

Reykjavik Geothermal, the Icelandic company that’s helped build power plants in more than 30 countries, agreed to develop as much as 1,000 megawatts of projects in Ethiopia over the next 10 years.

In the third quarter, clean energy stocks in general continued their upward trend, turning in a 27 percent gain for the quarter and a 64 percent gain for the year as a whole, as measured by my benchmark and most broadly held clean energy ETF, Powershares Wilderhill Clean Energy (PBW.) This brings PBW back up to levels last seen in September 2011.

Geothermal industry leaders say they are losing a popularity contest with wind and solar power, but claim they are offering a better product.

“I can remember as a young man driving from Carson City to Reno for the first time and I saw this steam coming out of the ground,” Nevada Senator Harry Reid told the geothermal industry last week. Although the congressman was in Washington DC trying to prevent a government shutdown, as his representative Vinny Spotleson reminded the audience, he and Senator Dean Heller both conveyed their support and appreciation of geothermal via video remarks at the opening plenary session of the GRC Annual Meeting and GEA Geothermal Energy Expo in Las Vegas.

This year’s Geothermal Energy Association (GEA)’s Geothermal Energy Expo and Geothermal Resources Council’s Annual Meeting incorporated a wide range of meetings on international development. U.S. interest in exporting geothermal goods and services is ever-increasingly met with outside interest in U.S. knowledge and materials, particularly from developing countries.

Walk into any panel discussion at a geothermal power event and you will often hear about barriers hindering geothermal development. In spite of the obstacles, the geothermal industry has grown and adapted to adversity, and it is unfortunate when more attention is not given to geothermal power’s technological accomplishments and the long-term potential. Today, 73 countries across the globe are actively engaged with the geothermal energy sector, showing that more governments, utilities, and industry stakeholders are recognizing the long-term value geothermal power can bring to their power systems.

What’s the next big opportunity for geothermal? According to panelists at last week's Renewable Energy World North America international geothermal session, it’s emerging markets. Kicking off the two-hour discussion, special guest Agnes Dasewicz of the U.S. Agency for International Development (USAID) explained the Power Africa initiative, which launched in June 2013. USAID is attempting to unlock energy growth in six countries: Kenya, Tanzania, Ghana, Nigeria, Liberia, and — of particular interest to the geothermal crowd — Ethiopia.

There are no plans for new coal plants to be built in the United States. This opens doors for the geothermal industry possibly more than ever before in U.S. history. In an Energy Information Administration (EIA) forecast to 2018, coal was one of the top-cost commissioning technology options; geothermal was one of the lowest.

The geothermal heat pump (GHP) industry prides itself on offering an efficient, environmentally friendly technology for satisfying the thermal loads of buildings. To do so, a GHP system relies on circulating water through pipes placed underground (either vertically or horizontally) to tap the natural heat retained by the earth.

Nearly one month after Typhoon Haiyan ravaged the Philippines, affecting more than 12 million people and killing almost 6,000, many residents are still sitting in the dark. The Superstorm not only decimated the islands’ transmission systems, it knocked out one of its main power sources — geothermal.

Developing countries that are interested in geothermal energy may see transformational results by approaching World Bank and other institutions, as Djibouti did. In an interview, the World Bank Djibouti geothermal project team talks about the project investment, lessons from Kenya’s experience, and preparations that are being made for the private sector to take up the next steps.

Holders of Ram Power Corp. (TSX:RPG, OTC:RAMPF) on November 26 (the “record date”) recieved valuable coupons as the result of the company’s rights offering, announced November 18th. Just in time for the holidays, these coupons, or “rights” can be used to buy additional shares of Ram Power for 8¢ Canadian per share any time before 5:00 p.m. on December 23rd. (Disclosure: I am long Ram Power stock.)

As the thousands of people in the geothermal energy industry wrap up an exciting and challenging year, they are united by some recurring themes. Investigative geologists, problem-solving engineers, and pioneering international business leaders are some of the players who worked this year to bring together the heat of the Earth with the cities, customers, and other industries that need its unique environmental and economic benefits.

Here at RenewableEnergyWorld.com, we pride ourselves on our active community of readers who click, share, and comment on the articles that we post every day. While we don’t always agree with their take on the pieces we post, we always value constructive feedback and the high quality discussion that sometimes ensues.

Wind and solar power producers say they're at risk of losing investment after the European Union's executive arm scrapped proposals for a mandatory target on renewable energy use in 2030.

Iceland and Japan, two nations rich with underground sources of renewable energy, can tackle climate change together by promoting the use of geothermal power, Iceland’s environment minister said.

Reykjavik Geothermal, the Icelandic power-plant builder, plans to begin drilling in Ethiopia by July as part of a $2 billion project to develop the renewable energy source, Chief Operating Officer Gunnar Orn Gunnarsson said.

Africa’s renewable energy capacity is expected to quadruple to about 120 gigawatts by 2030 if investors dedicate “substantial flows” of funds to the region, the InternationalRenewable Energy Agency said.

IHI Corp., a maker of everything from aircraft jet engines to gas turbines, expects the market for small-scale geothermal projects to take off in Japan as the country seeks cleaner sources of energy.

Iceland is moving closer to plugging European homes into the volcanic island nation’s geothermal and hydropower reserves via what would be the world’s longest power cable, according to the country’s largest energy producer.

Orix Corp., a Tokyo-based finance and leasing company, plans to build as many as 15 geothermal power stations in Japan in the next five years.

In the midst of a suburban sprawl halfway between the Eiffel Tower and Paris’s busy Orly airport, a drilling crew works night and day burrowing deep into the Earth’s crust in search of underground heat.

The latest hydropower industry news from Canada

Kenya Electricity Generating Co., the East African nation’s biggest power producer, plans joint ventures to complete its geothermal projects in Olkaria, Chief Executive Officer Albert Mugo said.

India, the world’s third-largest polluter, will spend at least $100 billion on climate-related projects but isn’t ready to follow China and the U.S., the top two emitters, in promising to limit its fossil-fuel emissions.

China could be nearing publication of a plan to guide the development of geothermal energy resources over the next few years as it plunges ahead with efforts to get more of its energy from renewable sources.

New power-generating units at Kenya’s Olkaria I plant are saving East Africa’s biggest economy about 2.2 billion shillings ($24 million) a month on fuel costs, according to the country’s biggest electricity producer.

Actress Natalie Portman, environmentalist Robert F. Kennedy, Jr., and other high-profile Harvard University alumni are calling for demonstrations to urge divestment from fossil fuels.

Yale University police cited 19 students after they staged a sit-in outside President Peter Salovey’s office to push for divestment from fossil-fuel companies.

Squashed between a highway overpass and a towering suburban shopping center east of Paris, a drilling rig is completing the second of two geothermal wells aimed at capturing the earth’s natural heat for homes and offices.

Stanford, Oxford and Georgetown universities have won praise for promising to purge their endowments of direct investments in coal, embracing the fight against climate change.

Executives from 13 major U.S. corporations are announcing at least $140 billion in new investments to decrease their carbon footprints as part of a White House initiative to recruit private commitments ahead of a United Nations climate-change summit later this year in Paris.

Companies including Apple Inc., Berkshire Hathaway Energy Co., and Goldman Sachs Group Inc. will join Secretary of State John Kerry and top administration officials at the White House for the announcement. In addition to pledges to cut emissions, provide financing to environmentally-focused companies, and reduce water consumption, the companies have said they will procure at least 1,600 MW of new, renewable energy. The White House said in a statement that it expects to announce a second round of similar pledges later this fall from additional companies.

The commitments are being announced as President Barack Obama is looking to build momentum toward a legacy-defining global climate accord in Paris. In addition to company-specific commitments, the corporate leaders on Monday will signal their support for a strong climate agreement out of the United Nations talks. They administration is using the pledges to set an example for companies to find ways to eliminate their carbon emissions.

Climate Talks

“As the world looks toward global climate negotiations in Paris this December, American leadership at all levels will be essential,” the White House said in a fact sheet detailing the announcement.

The administration’s actions are pushing the issue into the 2016 presidential debate. Hillary Clinton, the front-runner for the Democratic nomination, released an energy strategy saying she would both defend and go beyond Obama’s efforts. Republican candidates have criticized the administration’s initiatives as costly to the economy and unnecessary.

Among the pledges, aluminum manufacturer Alcoa Inc. has agreed to reduce emissions by 50 percent from its 2005 levels, while agricultural giant Cargill Inc. says 18 percent of its total energy use will come from renewable sources.

Coca-Cola Co. said it would drive down the carbon footprint of its beverage production by 25 percent over the next five years, while Google says it plans to triple its purchases of renewable energy over the next decade. Berkshire Hathaway says it plans to invest up to an additional $15 billion in the construction and operation of renewable energy generators, while Bank of America Corp says it will increase its environmental business initiative by $75 billion over the next decade, according to the White House

Other participating firms include Wal-Mart, United Parcel Service Inc., PepsiCo Inc., Microsoft Corp., General Motors Inc.

The corporate commitments won’t be the administration’s only major climate announcement in the next few weeks. The Environmental Protection Agency is set to present final regulations that aim to reduce carbon emissions from power plants by 30 percent from 2005 levels by 2030 later this week.

While visiting Kenya over the weekend, Obama repeatedly praised the country for its efforts to address climate change, saying its efforts tor educe emissions “has put it in the position of being a leader on the continent.” And next month, the president will travel to Alaska for an international summit on Arctic climate issues.

©2015 Bloomberg News

For more, see Big Companies, Big Renewable Investments.

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