U.S. Valuates Interest in New York Offshore Wind Projects
The U.S. is gauging interest in wind power development off the coast of New York, after a state agency proposed an offshore project 11 nautical miles south of Long Beach. The Bureau of Ocean Energy Management issued a request for any competing interests in the proposed lease area, which covers about 127 square miles and if no other parties shows interest, the New York Power Authority can get a lease on a non- competitive basis. The administration aims to conduct the first competitive lease auctions this year for projects off the coasts of Massachusetts, Rhode Island and Virginia. The Long Island – New York City Offshore Wind Project is being supported by the New York Power Authority, Long Island Power Authority and Consolidated Edison Co.
Philippines to Advance Geothermal Development, Strong Outlook for 2013
Geothermal development in the Philippines looks to continue strong in 2013, and if its government has its way, the Philippines will be the largest producer of geothermal energy within the next decade. The country plans to become the largest producer of geothermal energy by 2030, to do that, they will need an increase of 1405 MW additional capacity. Currently only the United States generates more geothermal energy. A possible channel of added geothermal support could be an expansion of the feed-in tariff (FIT) system, which was approved in 2012 for hydro, biomass, wind, and solar, and ocean thermal, but not for geothermal energy.
Global Clean-Tech Venture Investments Plunged 33% in 2012
According to San Francisco-based research firm, Cleantech Group, Global clean-technology venture investment dropped to $6.46 billion in 2012, down 33 percent from the $9.61 billion invested a year ago. The number of deals 2012 was 704, 15 percent lower than the 829 deals tracked in 2011. Several reasons for weak investments include the low price of natural gas- which made it harder for renewable energy to compete on costs. Another reason is that several privately supported cleantech companies were forced to shelve their IPO plans and raise additional finding from existing investors. Only SolarCity had a strong showing with its successful IPO launch which raised $92 million.
Arista Power Commences Solar Purchasing Initiative in New York
In a program modeled after the Solarize Madison initiative, implemented in Madison County, New York, Arista Power has announced that it will begin offering a new solar purchasing initiative to Genesee County, New York. The new initiative called Solarize Genesee, presents bulk purchase pricing which should lead to reduced costs for solar, installation and tax incentive form assistance, education workshops, and workforce training. The program is available for all home and business owners, farmers, institutions, and municipalities of Genesee County on a first-come-first-serve basis.