QUICK NEWS, December 18: PRES COMMITS GOVT AGENCIES TO 20% NEW ENERGY BY 2020; THE VOLATILE SOLAR REC MARKET; CHINA OFFSHORE WIND OPEN FOR BUSINESS

PRES COMMITS GOVT AGENCIES TO 20% NEW ENERGY BY 2020 Obama Commits U.S. Federal Government To 20% Renewable Energy Target By 2020

Michael Puttre, December 6, 2013 (Renew Grid)

"President Barack Obama has issued a presidential memorandum directing the U.S. federal government to pursue a goal of deriving 20% of its energy from renewable sources by 2020. The document also instructs all federal agencies to take specific steps to better manage building performance, enhance energy efficiency and reduce energy waste…It directs agencies to…[install] agency-funded renewable energy on-site at federal facilities…[contract] for [renewable] energy…[and purchase renewable] electricity...[and] renewable energy certificates...The memorandum sets a [first interim target of 10% renewables by 2015]…[A]ctions are to be taken where practical, economical and technically feasible.” click here for more

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THE VOLATILE SOLAR REC MARKET Experts Warn, Know The Game Before Betting On SRECs

Mark Del Franco, 11 December 2013 (Solar Industry)

“Solar renewable energy certificates (SRECs) can be vital to the economics of a solar project. Combined with a power purchase agreement (PPA), SRECs can help establish a steady revenue stream for solar project owners…[SRECs] can be sold on the spot market through an auction or exchange. An aggregator can sell SRECs to a utility or energy company through a fixed-price, multi-year contract or, less commonly, in a lump-sum payment…[But] SRECs do not have any intrinsic value…[It] is determined by the market, subject to supply-and-demand constraints…And while SREC programs have been a key driver of solar development in states such as Delaware, Maryland, Massachusetts, New Jersey, Ohio, Pennsylvania and Washington, D.C., recent market examples [in New Mexico and New Jersey] offer a cautionary tale…” click here for more

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CHINA OFFSHORE WIND OPEN FOR BUSINESS Analysis: China approves first commercial offshore projects; Three of China's first four offshore wind power concession projects finally won approvals in the third quarter of 2013, three years after the tender was held.

Mao Pengfei, 4 December 2013 (Windpower Monthly)

“Despite the delay, there are hopes that China is accelerating offshore sector development after years of stagnation…The four flagship projects totalling 1GW in east China's Jiangsu province are the country's first batch of offshore concessions, announced in September 2010 by the National Energy Administration (NEA) after a public tender. The projects were held up by conflicts between the NEA and the State Oceanic Administration (SOA) on the use of the sea areas…With the approvals from the Jiangsu Development and Reform Commission, projects 700MW in Dongtai, Dafeng and Binhai finally got off the drawing board. The remainder is the 300MW development in Sheyang which is still stuck…The winning bids, including from Longyuan, Datang New Energy and China Power Investment, had surprisingly low prices, ranging from CNY 0.61 to CNY 0.73 per kWh…” click here for more

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