China’s Electric and Hybrid Vehicle Output Up 280%
China’s efforts to promote hybrid and electric vehicles is starting to pay off as manufacturing output of the said vehicles surged 280% during the first seven months of the year. Pure electric vehicle production climbed 700% to reach 13,829 units, while production of plug-in hybrid grew 10 times to just over 5,000 units, according to data released by the Chinese Ministry of Industry and Information Technology. The increased supply is in direct response to the government’s efforts to increase demand for such vehicles in order to reduce carbon dioxide emissions in major cities.
US Clean Energy Generation Reaches 14.3 Percent
According to the U.S. Energy Information Administration’s recent report, with data for the first half of 2014, renewable energy sources provided 14.3 percent of net U.S. electrical generation. Conventional hydropower contributed 7 percent, while non-hydro renewable energy sources (i.e. biomass, geothermal, wind and solar) grew by 10.4 percent compared to 2013’s first half results. Not long ago, the EIA forecasted that renewable would not reach 14 percent of U.S. electrical generation until 2040. And even the current 14.3 percent data still understates the real contribution of clean energy as the EIA’s data does not fully reflect distributes and off-grid generation.
Divesting From Fossil Fuel Will Cost $5 Trillion
Bloomberg New Energy Finance has released data which show that coal, gas and oil companies currently account for one of the world’s largest liquid asset classes, registering a combined stock market value of nearly $5 trillion. Another challenge that our energy sector face is the sheer distance renewable energy have to go to compete on a larger scale with its fossil counterpart. BNEF estimates that $5.5 trillion is needed and expected over the next 15 years to build out clean energy sources as a competitive energy infrastructure.
Siemens and Sunrun Ventures to Promote Home Solar and EV Charging Systems
Siemens, maker of the VersiCharge EV home charging system, and Sunrun, a leading solar PV system installer, are now joining hands to help promote the products of both companies. The new deal will be offering owners of the Siemens VersiCharge EV home charger a $500 Visa gift card if they install one of Sunrun’s home solar PV systems before the end of the year. The correlation between EV’s and solar is so strong that bringing the tow of them together can have an effect at an even greater magnitude, says Siemes spokesperson Jacob Curtiss.