NewEnergyNews: QUICK NEWS, March 25: CHINA’S $243BIL NEW ENERGY INVESTMENT GAP; MARYLAND OKS OCEAN WIND RULES, FUNDING; MICROGRID BIZ QUADRUPLES TO $40 BIL BY 2020/

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

The challenge now: To make every day Earth Day.

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, March 25, 2013

    QUICK NEWS, March 25: CHINA’S $243BIL NEW ENERGY INVESTMENT GAP; MARYLAND OKS OCEAN WIND RULES, FUNDING; MICROGRID BIZ QUADRUPLES TO $40 BIL BY 2020

    CHINA’S $243BIL NEW ENERGY INVESTMENT GAP China Faces $243 Billion Climate Finance “Gap” Per Year By 2020, Exploring Reforms To Expand Clean Tech Investment

    22 March 2013 (The Clean Revolution)

    “China will need to raise up to US$243 billion of additional funds per year by 2020 in order to adequately finance action to curb the impacts of climate change and invest in low carbon development, according to… [Shaping China’s Climate Finance Policy, [commissioned by the Chinese government’s powerful National Development and Reform Commission (NDRC) and]authored by The Climate Group and the Research Centre for Climate and Energy Finance at [China’a] Central University of Finance and Economics…calls for a two stage plan to reform China’s climate finance mechanisms by 2020…[In 2012, China] accounted for one quarter of global investment in renewables, spending US$67.7 billion – a 20% increase on 2011. China’s goal is to have 15% of its total energy demand sourced from non-fossil energy by 2020.

    “…[T]he report’s authors estimate that achieving China’s 2015 and 2020 emission intensity targets (a 17% cut vs 2010 levels and a 40-45% cut vs 2005 levels respectively), will require a total investment of up to US$333 billion by 2015, escalating to US$413 billion by 2020…Current public and private funds are not sufficient to cover the required investment, resulting in a financing “gap” of around 2% of China’s projected GDP in 2015 – or up to US$214 billion - increasing to US$208-243 billion by 2020…Plugging this gap will depend on both increased public sector finance, but also on a larger role for private sector financing especially after 2015. To ensure this happens, China will need to create the framework and incentives that can leverage large amounts of private finance using the still significant – and increasing – levels of public funding…”

    “…[T]he key climate finance challenges China currently faces…[include, 1] Implementation of national climate change laws…[2] Establishing a 'horizontal' coordination agency to connect government bodies…and commercial banks to…foreign investment…[and] development finance institutes, including a National Climate Fund (NCF) and a Green Investment Bank...[and,3] Establishing a Carbon Trading Regulatory Commission…

    “…[A] range of policy reforms could also be made…[including, 1] ‘Green’ the current tax system…[2] Reform environmental pricing policy…[3] Improve environmental finance services and through reforms make it easier for low carbon enterprises to publicly list and issue bonds…[4] Use market mechanisms to promote energy efficiency…[5, Pursue] International climate funds…[6], Use China’s Sovereign Wealth Funds (SWFs)…total assets of some US$1.1 trillion…[and] capital managed by the National Council for Social Security Fund…[7] Accelerate implementation of national carbon market…[8] Reduce fossil fuel subsidies…[9] Strengthen Green Credit Policy…[and, 9] Leverage non-traditional sources of capital…”

    MARYLAND OKS OCEAN WIND RULES, FUNDING Off-Shore Wind Energy Legislation Passes in Maryland

    Perry Stein, March 19, 2013 (NBC Washington)

    “After more than three failed attempts, [Maryland Gov. Martin O’Malley’s] proposal to encourage the development of a wind energy industry in the state finally passed the General Assembly.

    “The legislation calls for dozens of gigantic wind turbines along Maryland’s Atlantic coast and would require residents to pay up to an extra $1.50 a month on their electricity bills if the turbines are built.”

    “This rate hike would go to fund a subsidy of up to $1.7 billion over 20 years to a company that can successfully develop this offshore wind energy…The bill would also require electricity suppliers in Maryland to get up to 2.5 percent of their power from offshore wind as early as 2017.

    “Despite opposition to the costs, the…bill passed easily in the House…with an 88-48 vote and relatively minor changes to the Senate bill. The legislation now heads to O'Malley's desk for his signature.”

    MICROGRID BIZ QUADRUPLES TO $40 BIL BY 2020 Market Data: Microgrids; Forecasts for Commercial/Industrial, Community/Utility, Campus/Institutional, Military, and Remote Microgrids: 2013-2020

    1Q 2013 (Navigant Research)

    “The microgrid market is currently moving into full-scale commercialization with the launch of dozens of successful pilot programs globally, decreasing costs of solar photovoltaic (PV), and a relaxing of prohibitions against distributed generation operation during times of grid stress, including the ability to island from the larger utility grid during emergencies…

    “As with any new innovation, adoption of microgrids will increase more rapidly as awareness of – and confidence in – the platform’s capabilities grows.”

    “For a variety of reasons, North America (and especially the United States) still represents the best overall market for all microgrid segments in terms of aggregate capacity. Key factors include pockets of poor power quality scattered throughout the United States and the structure of behind-the-meter markets for distributed energy resources (DER).

    “Worldwide, Navigant Research forecasts that revenue from deployments of microgrids will be just under $10 billion in 2013, increasing to just more than $40 billion annually by 2020 in the average scenario. This is significantly higher than previous market forecasts due to new market intelligence suggesting that microgrids, including retrofit projects incorporating legacy assets, require greater investment than previously recognized…”

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