Ohio Puts Renewable Energy Standards On Hold
Ohio is no longer one of the 29 U.S. states that is working to satisfy its clean energy portfolio standard as the Ohio general assembly has recently approved a bill to freeze the standards for electricity efficiency and generation from renewable sources. The measure would delay for two years requirements enacted in 2008 that utility companies reduce consumption by 22 percent and produce 25 percent of electricity from sustainable and alternative sources. The bill also withholds the requirements that utilities obtain half of their renewable energy from in-state sources.
Koch to Acquire PetroLogistics for $2.1 Billion
Koch Industries Inc. has agreed to buy PetroLogistics LP for about $2.1 billion including debt to gain raw materials used to make plastics. PetroLogistics uses propane, a liquid natural gas, to make propylene at its Houston plant, the country’s only facility dedicated to producing the chemical. The acquisition gives Koch with a key raw material it uses for making polypropylene, a chemical found in bottle caps, auto parts and clothing. The deal is seen to be finalized before the end of the year.
US Solar Power Climbs 79 Percent as Residential Panels Beat Warehouses
Homeowners and developers installed 1.33 gigawatts of solar panels in the first quarter, the second-largest total on record. Installs increased 79 percent from the same quarter a year earlier, according to data from the Solar Energy Industries Association. The first quarter saw residential systems exceeding commercial and government solar. Residential solar installations increased to 232 megawatts as financing models made it easier for homeowners to afford rooftop panels. Commercial, government and non-profit solar installs only accounted for 225 megawatts.
Alberta, Canada Renewables Seen Cheaper Than Coal in Coming Decades
Alberta, a Canadian province which relies on coal for half of its power, would see electricity rates rise more slowly in coming decades if renewable energy use is increased, according to a study by Pembina Institute and Clean Energy Canada. Electricity rates would be 4 percent lower by 2033 with a transition to more use of solar, wind and hydroelectric power than a persistent reliance on coal and natural gas. Alberta currently only harnesses about 1 percent of its potential wind power. The province has eliminated most incentives for clean energy projects in the past decades, making it difficult for investors to compete with fossil-fuel generation.