March 25, 2011

Positive growth in the clean energy industry, while nuclear future remains unsure

Good news for the clean energy industry -- the U.S. State Department announced today it plans to cut its GHG emissions by 30% (from 2008 levels) within the next year. This goal is particularly ambitious as compared to U.S. commitment to reduce its emissions 17% by 2020 in the United Nation's Copenhagen Accord. The Department hopes to serve as a model to other agencies, demonstrating a cost effective partnership between the public and private sector which will spur job growth in the clean energy industry. The patnership is with Constellation Energy, which currently plans into a tapping a $50 million solar project in New Jersey to provide the Department's power.

In Texas, clean energy company Dallas Clean Energy McCommas Bluff, LLC (subsidary of Clean Energy Fuel Corps) has secured a bond to finance improvements to its landfill gas processing facility. The biomethane industry has proved to be highly successful, meriting continued growth and financing. Funding for clean energy in the UK was promised a jumpstart of £3 billion by the Chancellor, though critics say this is not enough to truly launch this fledgling industry.

Back in Washington, the debate over nuclear energy post partial-meltdown of Japanese nuclear site continues. Lobbyist are working tirelessly to promote the energy source, attempting to allay the memories policy makers have of other nuclear disasters like Chernobyl and Three Mile Island. The concerns of nuclear safety may result in increased operating costs for the industry as policies demand higher level security mechanisms.

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