NewEnergyNews: UTILITY SEES THE FUTURE, BUYS NEW ENERGY/

NewEnergyNews

Gleanings from the web and the world, condensed for convenience, illustrated for enlightenment, arranged for impact...

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YESTERDAY

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

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

  • Weekend Video: Coming Ocean Current Collapse Could Up Climate Crisis
  • Weekend Video: Impacts Of The Atlantic Meridional Overturning Current Collapse
  • Weekend Video: More Facts On The AMOC
  • THE DAY BEFORE THE DAY BEFORE

    WEEKEND VIDEOS, July 15-16:

  • Weekend Video: The Truth About China And The Climate Crisis
  • Weekend Video: Florida Insurance At The Climate Crisis Storm’s Eye
  • Weekend Video: The 9-1-1 On Rooftop Solar
  • THE DAY BEFORE THAT

    WEEKEND VIDEOS, July 8-9:

  • Weekend Video: Bill Nye Science Guy On The Climate Crisis
  • Weekend Video: The Changes Causing The Crisis
  • Weekend Video: A “Massive Global Solar Boom” Now
  • THE LAST DAY UP HERE

    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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    WEEKEND VIDEOS, June 17-18

  • Fixing The Power System
  • The Energy Storage Solution
  • New Energy Equity With Community Solar
  • Weekend Video: The Way Wind Can Help Win Wars
  • Weekend Video: New Support For Hydropower
  • Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

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  • WEEKEND VIDEOS, August 24-26:
  • Happy One-Year Birthday, Inflation Reduction Act
  • The Virtual Power Plant Boom, Part 1
  • The Virtual Power Plant Boom, Part 2

    Monday, July 14, 2008

    UTILITY SEES THE FUTURE, BUYS NEW ENERGY

    Michigan Governor Jennifer Granholm is locked in a showdown struggle with recalcitrant, backward-thinking fossil fools in her state who cannot see how immensely profitable her proposed Renewable Electricity Standard (RES) and other New Energy initiatives will be for Michigan. Granholm's opponents, backed by the state's most backward utilities, see only possible, temporary rate increases and not the enormous, long term economic benefits. DTE Energy Resources Inc., a major Michigan utility, has announced it will put $3 billion – that’s BILLION with a B – where Granholm’s heroic and Herculean efforts continue to be.

    The proposed RES would require Michigan utilities to obtain 10% of their electricity from New Energy sources by 2015. DTE Energy's investments are to some extent contingent on the success of Grnahom's policy initiatives.

    In anticipation of a need for New Energy resources, DTE Energy Ventures, the utility’s investment fund, has already been investing $15 to $20 million in New Energy stocks in recent years. It is focusing on wind, solar and biofuels, energy efficiency technologies (ex: smart meter systems) and energy storage (including battery systems for EVs and PHEVs). The utility recently bought a California solar technology innovator and will relocate the manufacturing facility to Michigan – when state (and national) policy facilitates further development.

    Knut Simonsen, senior vice president, DTE Energy: "To the extent we can find good Michigan opportunities, all else being equal we prefer Michigan companies…"

    With the stock values of the big Detroit automakers failing as fast as a bad movie on a summer weekend, New Energy could be the next blockbuster for Michigan. If the politicians will get out of Governor Granholm’s way.


    More than half the nation's states have realized how valuable a Renewable Electricity Standard (RES) will be. (click to enlarge)

    DTE to invest billions in alternative energy; Utility boosts job-creating industry in state
    Katherine Yung, July 13, 2008 (Detroit Free Press)

    WHO
    DTE Energy Resources Inc., parent company of utilities Detroit Edison and MichCon (Knut Simonsen, senior vice president); Michagn Governor Jennifer Granholm; Michigan House of Representatives and Senate

    WHAT
    If Governor Granholm can push her RES through an obstinate Michigan legislature, GTE will invest $3 billion in New Energy capacity in the state.

    An earlier study indicates how much value an RES wold bring to Michigan. (click to enlarge)

    WHEN
    Granholm's RES would require Michigan's utilities to obtain 10% of their power from New Energy sources by 2015.
    DTE will make the announced investments over the next 6 to 7 years.

    WHERE
    - Michigan has world-class offshore and onshore wind energy resources on the western “thumb” of the state.
    - The DTE Energy Ventures investment team is based in Ann Arbor.

    The earlier study shows how much more valualbe policy incentivizing New Energy would be to Michigan than policy protecting Old Energy. (click to enlarge)

    WHY
    - In anticipation of eventual wind energy development, DTE Energy has already acquired 40,000 acres in the thumb for wind farm development.
    - Simonsen recently took over the DTE Energy Ventures fund and has redirected investments toward New Energy.
    - DTE Energy Ventures is looking for companies who already have won a first round of funding.
    - The RES is being obstructed by an inability of the Michigan House and Senate to resolve differences over how to amend Granholm’s RES.

    QUOTES
    Knut Simonsen, senior vice president, DTE Energy: "It's exciting times in the sense that clean tech investment's time has finally come…"

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