31 May 2010

China's high EV subsidies, cleantech investment up in slump, and other green news for business

Top Stories

Chinese green car buyers to get rebates -paper.reliability high.
"China will award buyers of green cars with subsidies of up to 60,000 yuan ($8,789) each, the Shanghai Securities News said on Monday, as it steps up efforts to cut emissions in the world's biggest auto market. ... Maximum subsidies for buyers of pure electric vehicles is 60,000 yuan each, while those for plug-in hybrid and normal hybrid cars are 50,000 yuan and 3,000 yuan respectively, it said." Story at Reuters. [These subsidies are huge. But the amount that EVs can cut emissions depends on how much electricity doesn't come from coal. Which in the cities of China isn't much.]

Renewable energy to be 60 per cent of energy mix by 2030, says IEA.reliability high.
"The International Energy Agency (IEA) said it will maintain its forecast for renewable energy generation to constitute 60 per cent of all electricity produced by 2030, according to reports." See NewNet.

Companies, Industries, Markets and Supply Chains

U.S. farm group sees gains from deforestation halt.reliability high.
"Stopping global deforestation would boost U.S. agricultural revenue by $190 billion to $270 billion through 2030 by cutting unfair competition, a U.S. farm group and a nonprofit focused on climate change argued on Wednesday." Reuters story. More details in NRDC blog post.

Geothermal Projects Being Developed in 70 Countries.reliability high.
"Geothermal energy is seeing increasing interest from all corners of the world according to a new report by the Geothermal Energy Association (GEA). The Geothermal Energy: International Market Update, released last week at the Global Geothermal Showcase and Forum in Washington, D.C., reports that 24 countries increased power online by 20% since an International Geothermal Association report in 2005. With more than 10,000 MW installed, geothermal power is providing electricity worldwide to over 52 million people." More highlights from report. See Renewable Energy World. PDF of report here.

32% Increase in Global Clean Tech Investment in 2009.reliability high.
"A ... report analyzing mergers and acquisitions (M&A) and financing deals across the clean tech sector in 2009 has come to the conclusion that despite the economic downturn, investment rose in 2009. Some areas, like venture capital investment fell, but overall there was a 32% increase with clean tech investment hitting $381 billion last year." See CleanTechnica.

CODA to build batteries in the U.S. with Energy Dept. loan.reliability high.
"CODA Automotive, builder of electric cars and batteries, is diversifying its manufacturing operations, which had previously been based mostly in China. The company, headquartered in Santa Monica, Calif., says it will be opening a lithium-ion battery factory in Ohio that could add more than 1,000 jobs to the local area. ... the plant will be run by Lio Energy Systems, the joint venture between CODA and China-based Lishen Power Battery. ... If CODA successfully receives its loan guarantee from the U.S. Department of Energy, it will be joining the two other major venture-backed advanced vehicle enterprises in California: Tesla Motors (which got $465 million) and Fisker Automotive (which got $529 million)." Story at GreenBeat.

Government and Regulation

Singapore Tries to Green Up Its Act.reliability high.
"Luring R.E.C. was a major coup and a key element of Singapore’s drive to become a global hub for clean-technology investment, development and education, plus a center for the carbon market. The clean-technology sector is also part of the government’s efforts to try to gradually shift one of Asia’s most energy-intensive economies onto a greener footing. It also wants to tap a boom in green energy and services in the region." More on Singapore's push to become a center of green businesses. Article in The New York Times. [There's a difference between having lots of cleantech businesses and being a low-carbon economy.]

[Crossposted from HaraBara.com courtesy of HaraBara, Inc. Copyright © 2010 HaraBara, Inc.]