MORE NEWS, 1-5 (WIND-WAVE SYNERGY; FORGET STOCKS, IT’S EMISSIONS; LESS GAS, MORE ELECTRIC—DOE; UPGRADE TO LA GRID)

WIND-WAVE SYNERGY
Wind, waves, and watts
January 4, 2009 (Boston Globe)

“…A new wrinkle in the proposal by Grays Harbor Ocean Energy Company, of Washington state, is that the supports anchoring each wind turbine platform to the ocean floor would be designed in a way to turn wave action into electricity as well…this feature serves two purposes: It increases the likelihood that its platforms will be producing power even when winds are still, and it qualifies the initial stages of the project for review by the Federal Energy Regulatory Commission instead of the Minerals Management Service of the Department of the Interior…Congress should resolve the disparity as soon as possible. It should also facilitate all offshore energy projects by granting the National Oceanographic and Atmospheric Administration increased funds for seabed surveys…

One of many wind-water combo concepts. (click to enlarge)

“If Grays Harbor gets its preliminary permit from FERC, it will be able to deploy a platform with a meteorological tower at its proposed site 12 to 17 miles south of Nantucket. This will provide the wind and wave data it needs to determine if the project is feasible. Another site being looked at is south of Block Island…Each site could produce up to 1,000 megawatts, about the output of the Seabrook nuclear plant, and an average of 400…”


FORGET STOCKS, IT’S EMISSIONS
Sick of Stocks? Trade Carbon
Zoe Van Schyndel, December 30, 2008 (The Motley Fool)

“Many investors have just about had it with stocks. And with ETF innovation continuing at breakneck pace, you can invest in markets that have just about nothing to do with investments you're familiar with…the AirShares EU Carbon Allowances Fund (NYSE: ASO) gives investors a chance to access the carbon trading market in Europe. The fund is an extension of the ETF concept, but instead of a mutual fund, it is organized as a commodity pool. The fund is the first exchange-traded product that provides exposure to carbon emission markets without counterparty credit risk. Although shares of the fund may be bought and sold like other exchange-traded vehicles, there are some significant differences…

“Inception date: Dec. 15, 2008…Expense ratio: 0.85%…Net assets: $5 million…

“…the AirShares fund is passively managed and does not track an index; instead, it tracks a basket of exchange-traded futures contracts for European Union Allowances (EUAs), which permit the holder to emit carbon dioxide. The portfolio of the AirShares fund consists of a basket of up to four listed December EUA futures contracts. These investments are unleveraged and are collateralized by cash, cash equivalents, and U.S. government obligations…”


LESS GAS, MORE ELECTRIC—DOE
DOE: U.S. reliance on oil imports to decline; Rise in biofuel use, more efficient cars will curb demand
H. Josef Hebert, December 18, 2008 (AP via Rocky Mountain News)

“U.S. dependence on foreign oil will drop dramatically over the next two decades as Americans are expected to confront rebounding oil prices, use more biofuels like ethanol and drive more fuel-efficient cars… the long-range energy forecast also said that coal, oil and natural gas - all of which produce gases linked to climate change - will provide nearly 80 percent of the country's energy in 2030, barring mandatory limits on carbon dioxide emissions that most likely would cause that percentage to decline…

click to enlarge

“…It is the first time in more than 20 years that petroleum demand in the United States is projected to be essentially flat for years to come…The reversal began this year with U.S. petroleum use expected to decline by a million barrels a day, or about 5 percent, compared with 2007…The agency's forecast assumes no changes in current laws or regulations, including any mandatory limits on carbon dioxide emissions in response to climate change.”


UPGRADE TO LA GRID
ABB Wins $87 Million Order in U.S. to Expand Capacity of HVDC Power Transmission System
December 22, 2008 (Transmission & Distribution World via Power Engineering)

"ABB has won an order worth $87 million to expand and strengthen the power transmission network in the area of Los Angeles, CA, so that it can deliver more electricity from renewable sources. Intermountain Power Agency (IPA) with the operating agent, Los Angeles Department of Water and Power (LADWP) has selected ABB to increase the capacity of the 22-year-old Intermountain Power Project Southern Transmission System (IPP STS) by 25 percent to 2,400 MW by 2010. The upgrade is part of LADWP"’s goal to bring 20 percent of power to customers from renewable energy sources by the end of the decade…The project implementation for LADWP will cause minimal disruption to existing services, with 75 percent of the system’s capacity being maintained during the refurbishment…”