QUICK NEWS, November 12: WHY THE U.S.-CHINA EMISSIONS DEAL IS BIG; THE BILLIONS IN TEXAS WIND; SOLAR INDUSTRY SHAKES OFF THE RECESSION

WHY THE U.S.-CHINA EMISSIONS DEAL IS BIG Why the U.S.-China Emissions Pact Could Be a Climate Change Breakthrough

Bruce Einhorn, November 12, 2014 (Bloomberg BusinessWeek)

“…[U.S. President Barack Obama and Chinese President Xi Jinping] announced the world’s two largest economies had reached an agreement on greenhouse-gas emissions, with the U.S. committing to a new, more aggressive target and China promising to begin reducing its carbon emissions. That’s significant because China had been unwilling to make any such promises, arguing that developed countries like the U.S. needed to take the lead…Some climate-change experts agree that something really significant has just happened…

“…[China] has been devoting considerable resources to developing wind and solar power and is trying to reduce its reliance on the most polluting types of coal. But [it is] for the first time committing to reducing output of carbon dioxide…[O]ther countries that had been reluctant to make any pledges will no longer be able to use Chinese inaction as a convenient excuse…The fact that Xi made the announcement together with Obama is an important sign the two countries are trying to move beyond their disputes over issues…[And] Obama’s pledge to cut greenhouse gas emissions at 26 to 28 percent below their levels in 2000 is an improvement over current policy…” click here for more

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THE BILLIONS IN TEXAS WIND Benefits of Texas Wind Energy Estimated to Exceed $3.3 Billion Annually

Peter Kelly-Detwiler, November 10, 2014 (Forbes)

“…[T]he overall societal benefits of the wind resource [to the state of Texas] add up to about $3.3 billion annually. The gross annual savings to consumers are estimated at $1.2 billion…The valuation is comprised of…1) A reduction in the price of energy to Texas residents, since wind displaces more expensive resources on the margin, valued at $973 million…2) A cut in sulfur dioxide (SO2) pollution, with an assigned cost of $652 million…3) A reduction in nitrogen oxide pollution, valued at $71 million…4) Minimized carbon dioxide emissions, to the tune of $1,008 million…5) Hedges against fuel price volatilities, valued at almost $61 million…6) Savings against expected increases in other fuel prices, estimated at over $491 million…

“…[Prices are valued] in three distinct areas: a reduction in overall power prices; a hedge against price volatility; and savings against future expected price increases…Analysts can disagree on the specific valuations regarding costs to society for various avoided pollutants. But there’s general agreement among the scientific community concerning the negative impacts…The carbon dioxide cost number used in the analysis is the mid-range estimate from the U.S. government’s Social Cost of Carbon working group, while the sulfur dioxide and nitrogen oxide cost numbers are the median values contained in a peer-reviewed journal article by Harvard School of Public Health researchers…[I]t appears fairly clear: the economic value of wind resources to Texas is considerable…” click here for more

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SOLAR INDUSTRY SHAKES OFF THE RECESSION Solar industry is heating up again after stumbling during recession…

Mark Glover, November 8, 2014 (Sacramento Bee)

"The solar power industry, viewed more than a decade ago as a game-changing, jobs-producing juggernaut in California, took its lumps during the recession…But now it’s coming back with a vengeance, both here and globally…[G]rowth is fueled partly by a sunnier economy, falling manufacturing costs, federal tax incentives and increasing consumer and corporate enthusiasm for renewable energy…[T]he U.S. Department of Energy shows that the United States currently has about 16 gigawatts of installed solar power, or enough to power more than 3 million average American homes…

“China’s solar power supply is more than 23 gigawatts, and it has set a goal of 35 gigawatts in 2015. Japan surpassed 14 gigawatts early this year and is working toward a goal of doubling that by 2020…[Many foresee] solar’s growth path [as] similar to what the mobile phone industry experienced nearly a generation ago…[But] Japan solar investors who were betting on relatively high renewable-energy rates over the long term are now voicing concerns…[German] solar power installations have declined for two years…[though] a handful of major U.S. companies are now offering their workers substantial discounts on solar installations for their homes, making it another employee benefit like health care…” click here for more

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