NewEnergyNews: NEW ENERGY NOT GETTING TO MARKET/

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YESTERDAY

THINGS-TO-THINK-ABOUT WEDNESDAY, August 23:

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  • TTTA Wednesday-ORIGINAL REPORTING: The IRA And the EV Revolution
  • THE DAY BEFORE

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    WEEKEND VIDEOS, July 15-16:

  • Weekend Video: The Truth About China And The Climate Crisis
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    WEEKEND VIDEOS, July 1-2:

  • The Global New Energy Boom Accelerates
  • Ukraine Faces The Climate Crisis While Fighting To Survive
  • Texas Heat And Politics Of Denial
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    Founding Editor Herman K. Trabish

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  • The Virtual Power Plant Boom, Part 1
  • The Virtual Power Plant Boom, Part 2

    Friday, March 09, 2007

    NEW ENERGY NOT GETTING TO MARKET

    U.S. lags in bringing green energy to market; Alternative energy needs certainty, level playing field, Senators told
    Elizabeth Davidz, March 7, 2007 (Medill News Service via MarketWatch from Dow Jones)
    - The United States leads the world in investing in new "green" technology, but lags behind in moving these fledgling technologies into the market place…

    - John Denniston, a partner in the venture capital firm Kleiner Perkins Caufield and Byers, and other panelists told the Senate Energy Committee that fossil fuel-based technologies not only have a firm foothold in the energy market, but also receive substantial federal backing through incentives and other programs. This leaves greener technologies in the dust…
    - Michael Liebreich, founder and CEO of New Energy Finance, a London-based research company specializing in the "green" energy market, said that there's no lack of people willing to back renewable and clean technologies…Last year $7.1 billion was invested in cutting-edge renewable technologies via venture capital and private equity funds…The United States accounted for 63% of this investment, or $4.5 billion…

    - But when it comes to moving these investments into the market, investors often see Europe and Asia as more inviting places to develop companies around environmentally friendly technologies…the United States only accounted for 28% of the $10.3 billion invested in publicly traded clean-energy companies worldwide…
    - Dan Reicher, the energy and climate initiatives director of Google Inc.'s new philanthropic venture called Google.org [and assistant energy secretary in the Clinton administration] said the federal government must put a price on greenhouse gas emissions, establish incentives to promote energy efficiency and clean energies, and increase funding to energy research.
    - The…panelists…agreed that the largest challenge holding back investment in clean technologies was the lack of stability in the American renewable energy marketplace.

    - Although the Energy Policy Act of 2005 established tax incentives and guaranteed loans for renewable and clean technologies, the timeline wasn't long enough…incentives were enacted for only a few years, not long enough for the technologies to move from the lab to the market.
    - Venture-capitalist Denniston told the senators it takes five years to develop new technologies and at least five more years to move these technologies to large-scale use…Denniston noted…that the price of oil fell from $78 to $49 in one 60-day period last summer, while the price of corn rose from $2.50 to $4. He said that sent shockwaves through the ethanol industry…
    - Along with the Senate Energy Committee, committees across Congress have met, and will meet, on the topic of renewable energy incentives and research…

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