This week, a consortium led by Samsung C&T Corporation and the Korea Electric Power Corporation (KEPCO) announced that it plans to invest CAN $7 billion to generate 2,500 megawatts of wind and solar power in Ontario, Canada.
According to the terms of the green energy investment agreement, Samsung C&T and KEPCO will establish and operate a series of wind and solar power clusters over the next 20 years. The clusters, which will be built in several locations throughout the province, will eventually include wind turbines that will generate up to 2,000 MW as well as solar power facilities that will generate up to 500 MW.
The entire project will have a combined power-generating capacity of 2.5 GW by 2016, producing energy equivalent to four per cent of Ontario`s total electricity consumption.
The U.S. Department of the Treasury and the U.S. Department of Energy on Thursday announced that an estimated US $3 billion will be made available for the development of renewable energy projects around the country and made issued the guidance businesses will need to submit a successful application.
Funded through the American Recovery and Reinvestment Act (Recovery Act), the program will provide direct payments in lieu of tax credits in support of an estimated 5,000 bio-mass, solar, wind, and other types of renewable energy production facilities.
Many people think of Google Inc. as just a search company, but now it can add renewable energy investor to its resume. Google is all about changing the world in a positive way, according to CEO Eric Schmidt, who has proposed a plan to help provide the world with renewable energy.
Google plans to put clean energy at the heart of the U.S. energy mix, promoting energy efficiency, a massive renewable-energy push to replace coal, and an accelerated rollout of plug-in cars.
The plan sets a target date of 2030 to get Power Companies and Utilities totally off carbon fuels, currently the most common power source, by calling for heavy increases in wind and solar power, with wind power being the closest thing to a free substitute for coal. Unfortunately, most populated areas are temperate and not very windy, so part of the challenge is finding the correct grid technology to bring energy to customers.
Google plans on investing $3.5 trillion in the project over the next 22 years, but expects to generate a cost basis savings of $4.4 trillion based on the right assumptions and investments.
Home Depot and other stores are starting to educate the public about wind power. And it’s about time because Ace Hardware will offer the EarthTronics Honeywill Wind Turbine, a small device rooftop device developed for home and business use. Ace is the launch partner for EarthTronics/Honeywell.The product will retail for $4,500 and it can account for 15% of a home’s energy use.
The Honeywell Wind Turbine is a gearless, “free wheeling’’ turbine that generates power from the blade tips (where the speed lies) rather than through a complex slow center shaft. By practically eliminating mechanical resistance and drag, the Honeywell Wind Turbine creates significant power (2000 kWh/yr) operating in a greater range of wind speeds (2-45 mph) than traditional wind turbines. The highest output, lowest cost per kWh installed turbine ever made. So powerful, so simple.