515.stm.17. Antonio Regalado and Bernd Radowitz, “Overtures to Brazil Show Dif-
fering Ethanol Interests,” Wall Street Journal, 17 April 2007.18. Ibid.19. Ibid.20. Fiona Harvey, “Wolfowitz calls on U.S. to remove ethanol tariffs,”
Financial Times, 13 March 2007.21. Renewable Fuels Association, “U.S. Fuel Ethanol Industry Biorefineries and Production Capacity,” July 2007, http://www.ethanolrfa.org/ industry/locations/.22. Ibid.23. The calculation of 3.6 billion bushels of corn is calculated as 15 billiongallons divided by the yield of 2.8 gallons/bushel less 1/3 for distillerdried grain output, which is a corn feed product.24. Diane Greer, “Creating Cellulosic Ethanol: Spinning Straw intoFuel,” April 2005, BioCycle eNews Bulletin, May 2005, http://www.harvestcleanenergy.org/enews/enews 0505/enews 0505 CellulosicEthanol.htm.25. C. Schell and G. Peterson, Cellulosic Ethanol: The State of the
Technology, U.S. Department of Energy, Project Management Center,Golden Field Office, 13 December 2006, http://cobWeb.ecn.purdue.edu/∼lorre/16/Midwest%20Consortium/Schell.2006.pdf.26. Ibid.27. “Fuels for the Future: Cellulosic Ethanol,” Co-op America Quarterly,
No. 72, Summer 2007, p. 18.28. VeraSun Energy Corp., “VersaSun Energy to Acquire 330 MillionGallons of Ethanol Production Capacity,” Press Release, 23 July2007,http://phx.corporate-ir.net/phoenix.zhtml?c=197813&p=irolnewsArticle Print&ID=1028975&highlight=.29. VeraSun Energy Corp., “VeraSun Announces Innovative Process
for Biodiesel production,” Press Release, 3 November 2006, http://
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phx.corporate-ir.net/phoenix.zhtml?c=197813&p=iro-newsArticlePrint&ID=926201&highlight=.30. The Andersons, Inc., “The Andersons, Inc. and Marathon to Build
Ethanol Plants,” Press Release, 10 July 2006, http://phx.corporate-ir.net/phoenix.zhtml?c=96043&p=irol-newsArticle&ID=880152&highlight=.
CHAPTER 151. Current prices from www.Barchart.com for the energy futures com-
plex, including crude oil and gasoline markets, can be found athttp://www2.barchart.com/mktcom.asp?section=energies.2. Worldwatch Institute “Biofuels for Transportation: Selected Trendsand Facts,” Press Release, 7 June 2006, http://www.worldwatch.org/node/4081.3. U.S. Department of Agriculture corn crop information as of July30, 2007. See the latest U.S. crop production data at http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1046.4. Ibid.5. Commodity Research Bureau, “Sugar,” CRB Yearbook 2007 (Chicago:
Commodity Research Bureau, 2007), p. 266.6. Susan Reidy, “Europe leads rush to produce biodiesel,” Biofuels-
business.com, 1 June 2007, http://www.biofuelsbusiness.com/news/biodiesel.asp.7. Commodity Research Bureau, “Soybean Oil,” CRB Yearbook 2007(Chicago: Commodity Research Bureau, 2007), p. 243.8. Ibid.9. Ibid.10. “Indonesia, Malaysia push a biofuels cartel,” Asian Sentinel, 14 De-
cember 2006, http://www.asiasentinel.com/index.php? option=comcontent&task=view&id=304&Itemid=32.11. Commodity Research Bureau, “Palm Oil,” CRB Yearbook 2007
(Chicago: Commodity Research Bureau, 2007), p. 189.12. Crude palm oil futures information is available at Bursa Malaysia,http://www.klse.com.my/Website/bm/products and services/derivative resources/derivatives-fcpo.html.
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NOTES
CHAPTER 161. International Energy Agency, Key World Energy Statistics 2006, p. 44,
http://www.iea.org/textbase/nppdf/free/2006/key2006.pdf.2. “Ontario promises to close coal plants by 2014, reduce greenhousegas emissions,” The Canadian Press, 18 June 2007, http://ca.news .yahoo.com/s/capress/070618/national/mcguinty emissions targets 2.3. Clifford Krauss, “With Coal Plans cut Back, Texas Faces Energy Gap,”New York Times, 8 March 2007.4. Clifford Krauss and Mathew L Wald, “TXU Announces Plans for 2 CoalPlants Designed to be Cleaner-Burning,” New York Times, 10 March2007.5. Clifford Krauss, “With Coal Plans cut Back, Texas Faces Energy Gap.”6. U.S. Department of Energy, Energy Information Administration, An-
nual Energy Review 2006, June 2007, p. 3 and 221 http://www.eia.doe.gov/emeu/aer/pdf/aer.pdf.7. U.S. Department of Energy, Energy Information Administration,International Energy Outlook 2007, May 2007, http://www.eia.doe.gov/oiaf/ieo/pdf/0484(2007).pdf. p. 49.8. BP Global, Statistical Review of World Energy 2007, http://www.bp.com/productlanding.do?categoryId=6848&contentId=7033471.9. Source: BP Global, “Global coal consumption increased by 4.5% in
2006,” Statistical Review of World Energy 2007: Coal consumption,http://www.bp.com/sectiongenericarticle.do?categoryId=9017919&contentId=7033429.10. Ibid.11. U.S. Department of Energy, “Advanced Combustion Technologies,”
Fossil Energy, http://www.fossil.energy.gov/programs/powersystems/combustion/index.html.12. Jeff Goodell, Big Coal: The Dirty Secret Behind America’s EnergyFuture (New York: Houghton Mifflin 2006), xviii.13. Centre for Energy and Greenhouse Technologies, “Turning Low-
Grade Coal into High-Grade Fuel,” http://www.cegt.com.au/news/news detail.asp?id=192.14. African American Environmentalist Association, “Coal Facts,” MSN
Groups, http://groups.msn.com/aaea/coal.msnw.15. Union of Concerned Scientists, “How Coal Works, Clean Energy,”
http://www.ucsusa.org/clean energy/fossil fuels/offmen-how-coalworks.html.
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16. African American Environmentalist Association, “Coal Facts.”17. David Hawkins, Daniel Lashof, and Robert Williams, “What to do about
Coal,” Scientific American, September 2006, www.sciamdigital.com(article available on pay basis).18. U.S. Department of Energy, “Clean Coal Technology & thePresidents Clean Coal Power Initiative,” Fossil Energy, http://www.fossil.energy.gov/programs/powersystems/cleancoal/index.html.19. Edison International, “Edison Mission Group and BP Plan MajorHydrogen Power Project for Southern California,” Press Release,http://www.edison.com/pressroom/pr.asp?id=6125.20. Green Car Congress, “NRG testing Greenfuel Algae Emissions-toFuel System at Power Plant,” 13 April 2007, http://www. greencarcongress.com/2007/04/nrg energy test.html.21. Optical Society of America, “Cleaning up CO2: Environmental En-
gineers Use Algae for Carbon Dioxide Cleanup,” www.aip.org/dbis/OSA/stories/17038.html.22. National Renewable Energy Laboratory, “A Look Back at the U.S. Department of Energy’s Aquatic Species Program: Biodiesel from Algae,”July 1998, p. 3, http://www.nrel.gov/docs/legosti/fy98/24190.pdf.23. There is an entertaining video at YouTube, MIT Algae Photobioreactor, (http://www.youtube.com/watch?v=EnOSnJJSP5c), in which theactor Alan Alda visits an algae photo-bioreactor that was built on theroof of a building at MIT.24. For information on hybrid solar lighting, visit the Oak Ridge SolarTechnologies Program site at http://www.ornl.gov/sci/solar/. A diagramof the process is at http://www.ornl.gov/sci/solar/poster.htm.25. A Global Force, Tech Focus by the publishers of Popular Mechanics, in collaboration with Sasol International, “Technologies & Processes,” Explore Sasol, http://www.sasol.com/sasol internet/frontend/navigation.jsp?navid=1600033&rootid=2.
CHAPTER 171. James Kanter, “In London’s Financial World, Carbon Trading is
the New Big Thing,” New York Times, 6 July 2007, http://www.nytimes.com/2007/07/06/business/worldbusiness/06carbon.html.2. Chicago Climate Exchange, “About European Climate Exchange(ECX).” http://www.chicagoclimatex.com/content.jsf?id=1042.
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3. The Intercontinental Exchange, Inc. Web site can be accessed at
http://www.theice.com.4. Mathew Carr and Saijel Kishan, “Europe Fails Kyoto Standards as
Trading Scheme Helps Polluters,” Bloomberg.com, 16 July 2006,http://www.bloomberg.com/apps/news?pid=20601087&sid=awS1xfKpVRs8&refer=home.5. Mathew Carr, “China’s Pollution Allowances Stoke Fourfold ProfitProspects (Update 1),” Bloomberg.com, 27 June 2007, http://www.bloomberg.com/apps/news?pid=20601109&sid=aaqEuN9qUYDs&refer=home.6. Mathew Carr and Alex Morales, “Emission Permits Advance; BushUrges Climate Goals (Update 3),” Bloomberg.com, 1 June 2007,http://www.bloomberg.com/news/index.html?Intro=intro news.7. James Kanter, “In London’s Financial World, Carbon Trading is the
New Big Thing.”8. Ibid.9. Ibid.10. Ibid.11. Chicago Climate Exchange, “Climate Change and Emissions Trad-
ing: Market-based solutions to environmental problems,” http://www.chicagoclimatex.com/content.jsf?id=221.12. U.S. Environmental Protection Agency, “Acid Rain Program,” CleanAir Markets, http://www.epa.gov/airmarkets/progsregs/arp/basic.html.13. U.S. Environmental Protection Agency, “Acid Rain Program SO2 Al-
lowances Fact Sheet,” Clean Air Markets, http://epa.gov/airmarkets/trading/factsheet.html.14. See Chicago Climate Futures Exchange, “Sulfur Financial InstrumentFutures Contract Specifications,” http://www.ccfe.com/about ccfe/products/sfi/contract specs/SFI Futures Contract Specifications.pdf.
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Index
AABB Ltd., generator manufacturer, 142Abengoa, stock holdings, 18Abengoa Bioenergy Corp., ethanol producer,270tAB32 Global Warming Solutions Act, 56AC. See Alternating currentAcciona SA, 80, 146stock holdings, 18wind capacity ranking, 145fActive Power, Inc., 234Advanced electricity storage solutions,usefulness, 226Advanced Energy Initiative, 160Advanced meteringbenefits, 212–214costs, 212–214benchmarks, 213tdeployments, 212tinteroperability/industry standards,214–215relationship. See Demand responseSouthern California Edison, business caseexperience, 214U.S. regulators response, 216Advanced metering infrastructure (AMI), 208example, 209fsystems. See Two-way advanced meteringinfrastructure systemsAdvanced power storage products, companies(involvement), 234–236AEP. See American Electric PowerAfricainstalled wind capacity, 133frenewable energy targets, 51tAgri-business, 12–13Algae-based CO2 absorption, 293–294All-electric vehicles, 247–249companies, involvement, 248–249Allowance Management System (EPA), 304Altair Nanotechnologies, Inc., 246, 248Alternating current (AC), DC conversion, 87AMCO Water Metering Systems, 221American Depository Receipt (ADR), listing,10American Electric Power (AEP), 292
American National Standards Institute (ANSI),meter communications/data storagestandards (issuance), 215American Solar Energy Society, 7American Superconductor Corp., 144, 234global pure-lay wind power manufacturer,140tstock holdings, 15American Wind Energy Association (AWEA)solution. See Wind powerAMI. See Advanced metering infrastructureAmorphous silicon (aSi), 112AMR. See Automated meter reading; Automaticmeter readingAMRA. See Automated Meter ReadingAssociationAndersons, 269ethanol producer, 270tpartnership. See Marathon OilAngel investing, 7Appliance efficiency, 50, 189–190Applied Materials, production line equipment,112APU. See Auxiliary power unitAquaEnergy Ltd., 186aQuantive, stock holdings, 18Arab Oil Embargo (1973–1975), 39, 281Arch Coal, 288Archer Daniels Midland, 269ethanol producer, 270tArise, polysilicon producer/startup, 105tArizonaprototype dish/Stirling systems, operation,80solar PV incentives, 93tWestern Regional Climate Action Initiative,56–57ASAlliances Biofuels, 269aSi. See Amorphous siliconAsiainstalled wind capacity, 133frenewable energy targets, 51tAsian central banks, dollar reserves(reduction), 10Assets, optimization, 203Associated Foods, lighting upgrade, 199–200
351
index
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January 15, 2008
352Austin Energy, renewable energy sales(ranking), 180Australia, renewable energy targets, 51tAustriarenewable electricity share targets, 52fsolar PV support mechanisms, 95tAutomated meter reading (AMR) systems. SeeOne-way automated meter readingsystemsAutomated Meter Reading Association (AMRA),meter communications/data storagestandards (issuance), 215Automatic meter reading (AMR), 208fbusiness case, 213–214process, 208Auxiliary power unit (APU), 150Aventine Renewable Energy, Inc., 269ethanol producer, 270tAverage U.S. electricity generation costs, 100f
BBabcock & Brown Ltd., 146wind capacity ranking, 145fBackup systems. See PowerBallard Power Systemsanalysis, 156–157projections. See Fuel cellsU.S. fuel cell company, financial data, 155tBallard Power Systems, PEM cell development,152–153Baltimore Gas and Electric (BGE), AMI smartmetering projects, 217Basin Electric Power Cooperative, renewableenergy sales (ranking), 180tBatteries, resources, 316Bavaria Solarpark (Germany), 88Bayard Group, 221B100 biodiesel, 254Beacon Power Corp., 234–235Bechtel, turnkey coal gasification power plants(offering), 292–293Belgiumrenewable electricity share targets, 52fsolar PV support mechanisms, 95tBGE. See Baltimore Gas and ElectricBiard, Robert, 193Big Coal: The Dirty Secret Behind America’sEnergy Future (Goodell), 288Binary cycle geothermal plants, 169fBinary-cycle geothermal plants, 164Binary cycle power plants, 168–169Biobutanol, development (BP/DuPontpartnership), 13Biodiesel, 254Biofuels, 253BP involvement, 13–14defining, 253–254industry, growth rate, 72–73mandates. See Fuel blenders/retailersmarket, futures/options, 21
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productionDuPont involvement, 39inefficiency, 256resources, 317success, likelihood, 309–310trading, 275Biofuels Security Act of 2005, 31Biofuel vehicles, 240Biogascollection/production, 183–184companies, 184Biomasscompanies, 184fuel, release, 182percentage, 65powerplants, 182resources, 316Biopetrol Industries, stock holdings, 20BIPV. See Building integrated photovoltaicsBlackoutscost, 41protection, 82Boeing, 79Bonneville Power Association, transmissioncapacity, 175BPL. See Broadband over power lineBrazilcompetition. See Ethanolenergy independence, 53, 261ethanol exports, production, 261–262renewable energy targets, 51tBritish Petroleum (BP PLC)BP Solar, 13BP Wind, expansion, 13clean energy business, development,13–14cogeneration facility (Cherry Point), 13construction. See Steam turbine powergenerating plantpartnership. See Combined-cycle gasturbine power plantEdison International, joint venture, 293energy efforts, alternatives, 13–14involvement. See Biofuels; Hydrogen; Naturalgaspartnership. See Biobutanol; Carbon capture;Carbon gasification; Clipper Windpower;Hydrogen-fueled power plantBritish Petroleum (BP PLC) Solar, global solarPV cell/module producer, 119tBroadband over power line (BPL) networktransmission method, 206appearance, 211Brookfield Asset Management, stock holdings,18Brown, Lester, 255Brownoutscost, 41protection, 82Bubbles. See Speculative bubbles
index
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Index
Building integrated photovoltaics (BIPV), 113,115Buildingscodes/permits, energy efficiency, 50efficiency, 197–198companies, involvement, 198–200resources, 316regulations, 6domestic use, 6
CCadmium telluride (CdTe // CadTel),112–113CaFCP. See California Fuel Cell PartnershipCAFE. See Corporate Average Fuel EconomyCaithness Energy, LLC, 174CalEnergy Generation, 174CaliforniaGeysers, geothermal power plant operation,173greenhouse gas emissions cap, 56Low Carbon Fuel Standard (LCFS),establishment, 56power efficiency programs, impact, 188solar PV incentives, 93tsteady per-capita electricity usage, 57Western Regional Climate Action Initiative,56–57California Fuel Cell Partnership (CaFCP),156California Joint Action Agency, 174California Public Utilities Commission (CPUC),advanced metering cost analysis (order),214California Solar Initiative, 56, 92Calpine Corporation, 173Calvert Global Clean Energy Fund, 20clean energy mutual fund data, 19tGlobal Clean Energy Fund, 20Canada, renewable energy targets, 51tCanadian Solar, 120U.S.-listed solar PV company, 121tCannon Technologies, 222Cap-and-trade CO2 emissions system,possibility, 48Capital-intensive industries, GEassets/investments, 12Capstone Turbine Corp., 235Carbon allowance futures contracts. SeeInternational Commodity ExchangeCarbon capture. See Carbon dioxidesequestrationprograms, BP/GE partnership, 13Carbon credits, resources, 317Carbon dioxide (CO2 ) allowances, trading. SeeEuropean CO2 allowancesCarbon dioxide (CO2 ) emissions, 27–31expense, increase, 49system, possibility. See Cap-and-trade CO2emissions system
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353Carbon dioxide (CO2 ) sequestration (carboncapture), 291–293resources, 317Carbon emissionsframework. See Post-Kyoto carbon emissionsframeworkincrease. See China; Europe; India; Japan;United StatesCarbon Financial Instrument (CFI), 298Carbon gasification, BP/GE partnership, 13Carbon trading, 297Cargill, ethanol producer, 270tCaribbean countries, renewable energy targets,51tCBOT. See Chicago Board of TradeCCFX. See Chicago Climate Futures ExchangeCdTe. See Cadmium tellurideC&D Technologies, Inc., 234, 235CEEG Nanjing PV-Tech, global solar PVcell/module producer, 119tCellNet, 221Cellulosic-based ethanol, 265–266Cellulosic feedstocks, usage, 264Center for American Progress, 259Center for Smart Energyelectricity problem, scope, 201–202elements. See GridCenterPoint, AMI smart metering projects, 217Central America, renewable energy targets, 51tCFI. See Carbon Financial InstrumentCFL. See Compact fluorescent lampCH4 . See MethaneChevrolet Volt, 246Chicago Board of Trade (CBOT), 21corn futuresmarket, 278–279prices, 279fethanol futures contracts, 275–276size, 276ethanol futures strip curve, 278fsoybean oil futures, 282fChicago Climate Exchange, 303–305Chicago Climate Futures Exchange (CCFX), 303sulfur financial instrument, 304fChinacarbon emissions, increase, 58tcoal consumption, 288fcoal reliance, 287electricity demand, 36IPOs, 120Kyoto Protocol exemption, 57renewable energy targets, 51tsolar PV support mechanisms, 95t–99tState Electricity Regulatory Commission, 92China Sunergy, 120U.S.-listed solar PV company, 121tC6 H12 O6 . See GlucoseCIGS. See Copper indium gallium diselenideCityCAT, 241City Solar, polysilicon startup, 106fC40 Large Cities Climate Leadership, 198
index
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354Clean coalinvestment conclusions, 295large-cap company benefits, 292–293Clean Edge, Inc., 72Clean energybusiness startup, 5–7consulting, 7ETFs, 14–15list, 16t–17tglossaries, 317–318governmentmandates/incentives, impact, 47support, 48growth, forecasts, 72industrycatalysts, 27growth, IEA forecast, 70technology/ technological innovation,impact, 39–40investment conclusions, 307investments/performance, 5jobs, 7large-cap companies, pure-play(consideration), 11movement, oil price decrease (impact), 42–46mutual funds, 18, 19tpotential, 61solutions, viability, 308target market, 308technologyfossil fuel parity, 61–62improvements, 39–40Clean energy sectorlong-term investor, advice, 23stock picking, 18Clean energy stocksholding. See Global clean energy stocksnon-U.S. stock listing, 10–11performance, 23–24Clean Energy Trends 2007 (Clean Edge, Inc.),72Cleantech Network, 7–8Clean transportation, 237investment, conclusions, 249–251Climate change, 36–39action, 38impact, 38market failure, 39plans/reports, 312U.S. public perception, 37web sites, 313Clipper Windpower Plc, 141BP partnership, 13global pure-lay wind power manufacturer,140tCO2 . See Carbon dioxideCoal, 285burning, 289–290companies. See U.S. coal companiesgasification, 291–293prices
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inexpensiveness, 28movements, causes, 300–302reserve countries, 287ftechnologies, 289Coal-fired plantselectricity cost, 81electricity generation, inexpensiveness, 31Coal-fired power plant pollution controls,290–291Coal gasification, resources, 317Coal-to-liquid transportation fuel, 294–295Coastal flooding, 38Cogeneration, enhancement. See Fuel cellsColoradoprototype dish/Stirling systems, operation, 80solar PV incentives, 93tColor Kinetics, stock holdings, 14Combined-cycle gas turbine power plant,construction (BP/SK Corporationpartnership), 13Commodity Research Bureau, 282Communication, wind power (impact), 128Compact fluorescent (CF) bulbs, 190–193Compact fluorescent lamp (CFL), 191–193advantages, 192–193example, 191fimpact, 192Compressed air energy storage, 231Compressed-air-powered vehicles, 241Concentrating solar power (CSP), 75, 77costs, 80–81dish system, 78–79, 78ffuture, 81plants, existence/plan, 79–80power systems, electricity cost. SeeTrough-based CSP power systemspower towers, 79illustration, 79fsystem, trough style, 77fConcentrating solar systems, 77–81ConEd. See Consolidated EdisonConergy, stock holdings, 18Connecticut, solar PV incentives, 93tConsol Energy, 288Consolidated Edison (ConEd), AMI smartmetering projects, 217Consumer, empowerment/ incorporation, 203“Consumer’s Guide: Heat Your Water with theSun” (U.S. Department of Energy), 76Converge, Inc., 223Copper indium gallium diselenide (CIGS), 112Corn, 278–280futures/options, 21prices, rally, 279profitability