California is thinking green. Hot on the heels of San Francisco's announcement of its big green tax cut -- subsidies for solar panel installation that will provide citizens with energy savings -- California has more big solar news.
The state's largest utility Pacific Gas & Electric (PG&E) has signed deals with OptiSolar and SunPower to provide 800 MW of new solar power to the state in the form of massive solar photovoltaic plants. The move will reestablish the U.S. as the global leader in solar power by being the world's largest set of grid-tied photovoltaic installations, surpassing solar-hungry Spain and Portugal.
The arrays will provide residents with 1.65 billion kilowatt hours each year and will power up to 250,000 homes. Jack Keenan, CEO and senior vice president of PG&E states, "This commitment not only moves us forward in meeting our renewable goal, it's also a significant step forward in the renewable energy sector. Utility-scale deployment of PV (photovoltaic) technology may well become cost competitive with other forms of renewable energy generation, such as solar thermal and wind."
With the upcoming capacity, 24 percent of PG&E's power will come from renewable resources. This exceeds the 20 percent that the state demands of the company by 2010. Keenan says the new installation will help to ease California's massive power demands during peak afternoon hours.
The estimated completion date for Optisolar's 550 MW is 2013, while SunPower should finish up its 250 MW in 2012. Both plants will be built in the sunny central San Luis Obispo County, north of Los Angeles. The new farms are somewhat unique in that typically farms of this size have used solar thermal technologies instead of photovoltaics. One cost efficient thing about the new plants is they'll be able to use almost entirely preexisting lines. This will reduce the construction costs and thus reduce the cost per kilowatt hour as well.
OptiSolar's plant, the larger of the pair, will cut as much carbon emissions as removing 90,000 cars from the road. It will use the company's cutting edge thin-film photovoltaic equipment. It has already filed for permits and hopes to begin construction by 2010. Randy Goldstein, CEO of OptiSolar states, "The Topaz solar farm will grow clean electricity on previously disturbed, unused farmland with low-profile panels minimizing visual impact. It's designed to be compatible with key wildlife species and avoid environmentally sensitive areas."
OptiSolar currently employs 400 people in Hayward, California at a solar panel manufacturing plant. In order to aid the construction it plans on creating another in Sacramento. This new plant will create 1,000 "green-collar" jobs.
Meanwhile SunPower brings considerable experience to the table, having installed 350 MW in capacity in 450 sites on three continents. Among its achievements are the installation of the largest U.S. photovoltaic facility, 14 MW at Nellis National Air Force Base in Arizona, and the installation of the world's first utility-scale photovoltaic plant in Bavaria, Germany. The company has plans to sell solar panels at Wal-Mart, JC Penney, and Macy's to compete with IKEA's new solar offerings. Sam's Club is also offering competitive products.
Adam Browning, executive of the Vote Solar Initiative praises the initiatives stating, "What you are seeing here is the foundation of an industry that can deliver electricity cleanly, cheaply, and reliably than the fossil fuel alternatives. That's really good news because the Department of Energy predicts we will need 386 gigawatts by 2015 just to keep up with load growth...This is a very large, great leap forward in economies of scale. This is the wave of the future."
California also is considering new nuclear expansion with California firm Fresno Nuclear Energy Group LLC. The company plans to build a new plant in San Joaquin Valley, in addition to California's four operational nuclear plants, which provide the state with a great deal of electricity. The firm has contracted Constellation Energy in Baltimore to design build and operate the plant.
The new nuclear plant would provide 1,600 MW of power, and would cost approximately $4B USD. Californian citizens will vote this fall on whether to allow the construction of the plant. Costs for nuclear range between $0.05 and $0.11 by current estimates, while costs for solar range between $0.15 to $0.20. Both can be significantly cheaper than this thanks to federal subsidies.
Officials behind both the solar and nuclear projects warn that if Congress does not renew tax credits for alternative energy, efforts will likely slow and whither. It currently looks likely that Congress will indeed renew these measures as they enjoy strong national support.
quote: First is that the housing bubble was a U.S.-only phenomenon.
quote: Second is that the U.S. is badly in debt.
quote: Taken as a proportion of debt, the U.S. debt has increased disproportionately over the past 20 years and even more so in the last eight years. That is cause for concern. Public debt increased by more than 300% from 1980-1990; increased by 57% from 1990-2000; and then has increased by 79% in 5 years. From 2005-7 it increased by 80%.
quote: As a percentage related to the GDP, the national debt was decreasing since 1960 until 1980-1990 where it spiked from 26% to 42%. After falling slightly from 1990-2000 it has been steadily increasing. The CIA actually has the public debt as a percent of the GDP at 60.8%. That is fairly significant.
quote: So yes, we are badly in debt to ourselves. We also happen to be in debt to other countries. In June of 2007 the external debt was $12.25 trillion and was only $10 trillion a year before.
quote: Here's a plot of Federal expenditures vs. revenues as a percent of GDP. You'll notice it's pretty flat.
quote: I'm saying the U.S. is not significantly more in debt than other Western nations.
quote: The U.S. and U.K. are the top two in "totals," third is Germany at less than half of the UK's debt.
quote: are going to weather this much, much better than those with significant inflation/housing appreciation.
quote: Using the correct measure as above, we rank not first but 26th. Do note most of Western Europe ranking above us.
quote: the US deficit is lower than Japan, Britain, France, Greece, and Italy, as well as India.
quote: ... our junk-bond default rates at 2.37% aren't at recessionary levels.
quote: the US will be a relative safe harbor.Purely as a question out of interest, as I'm not an economist, what happens when China let's their currency increase at a reasonable rate (similar to their economic growth)?
quote: On top of that Greece, Sweden, and Hungary aren't a part of Western Europe, so no, most of Western Europe, and as I've been saying, the majority of Europe, is below the United States based on public debt
quote: In addition, it also does not take into account a prior point I was making, that Germany is supposedly going to weather the housing bubble burst much better than other major western economies.
quote: all while we are not in a huge industrial boom and not having unprecedented economic growth
quote: On page 2 of the above link they also indicate the growth rate output per capita, the US comes in both last and below average. It's the inability for the current economy to maintain a status quo that will continue to hurt it.
quote: Purely as a question out of interest, as I'm not an economist, what happens when China let's their currency increase at a reasonable rate (similar to their economic growth)?
quote: Italy, Belgium, France, and Germany all rank higher. Those three combined are practically Western Europe, as far as making up the bulk of that economic area.
quote: They may do better, but I think they're still going to feel the pain.
quote: I looked at your chart, and I see a GDP line that is continuing a trend, despite intermediate term oscillations one way or the other, higher from 1890 till today. Not sure how this ties in to debt.. except that at some points we had more than today, and we managed to stick to the trend?
quote: ... advanced economies, relative to others, have a hard time continuing to race ahead.
quote: Perhaps I should have pointed it out more clearly, but with respect to the chart ranging from 1934-2006, the point I was making was that there are two obvious and significant increases in expenditures (read: debt) at two specific points. One correlates to our entering the war (and continues until the end of it) while the other major increase correlates to 9/11 and the subsequent wars in Afghanistan and Iraq. At both points we increased our spending (and debt) by about a trillion dollars, but during the 1940s that ended after the war.
quote: Exactly my point, so why are we spending more than during WWII? Why is our debt, as I first said to Sol, disproportionately higher than ever before? Twenty-percent increases annually are likely not a good sign especially when you take into account the weak dollar; off-budget debts accrued by the war; and weaker growth.
quote: We are not spending more than we did during WWII. We have 2.5x as more people and our economy is nearly 6x larger than it was during WWII.
quote: Say you made $20,000/yr after taxes while in college and paid $1000/mo in rent. That rent represented 60% of your net income.But now you're paying $3000/mo in rent! That's crazy! How will you survive? But wait, you forgot that you're now earning $120,000/yr. So that rent represents only 30% of your net income. Never mind, false alarm.
quote: Only eight European countries total are above the United States in the list of public debt as a percent of GDP. On top of that Greece, Sweden, and Hungary aren't a part of Western Europe, so no, most of Western Europe, and as I've been saying, the majority of Europe, is below the United States based on public debt
quote: In addition, it also does not take into account a prior point I was making, that Germany is supposedly going to weather the housing bubble burst much better than other major western economies. That leaves approximately four Western European countries in the position you and Sol are so persistent about.
quote: Again, you're using a number (# of countries) that is meaningless for the purposes of comparing economic data. Whether you look at the U.S. as one nation-state or 50 small states doesn't change the underlying economic data in any way.
quote: Globally, of the G8 nations, Japan and Italy have substantially more public debt than the U.S. Canada has more slightly more. Germany, France, are about the same as the U.S. Only the U.K. and Russia have less than the U.S. Combined, these countries represent nearly 60% of the world's GDP.
quote: Please re-read my first post. I quite clearly stated that Germany had avoided the housing bubble. I should reiterate that I'm not saying that things won't get bad in the U.S., or even that things will be worse in Europe than in the U.S. All I'm saying is that overall, Western nations are just as badly screwed as the U.S. is.
quote: It's like getting all worried that my family of 4 spends more money per year than I did when I was a bachelor.
quote: And the chart clearly says 2008 on it even though you claimed it only went to 2004.
quote: Any numbers beyond 2003 are projections by the US Government.Link: http://www.marktaw.com/culture_and_media/TheNation...
quote: Page Created on Nov 04, 2004 last updated Jul 11, 2006
quote: You'll notice that our inflation is also significantly greater than the growth of the GDP.
quote: but there is a nation with 1.33 billion people that provides a decent example of managing their imports while having incredible export trade.
quote: A few expl a nations for the above mis s tatement.
quote: ... nominal instead of real GDP figures.