199–200Liquid petroleum gas (LPG) vehicles, 240Lithium-ion rechargeable batteries, 228disadvantages, 245safety, 245–246Lithium-polymer rechargeable batteries,228–229Lithuaniarenewable electricity share targets, 52fsolar PV support mechanisms, 97tLM Glasfiber, rotor blade manufacturer, 142Loan guarantees, availability. See RenewableenergyLoher GmbH, generator manufacturer, 142Long-term investor, advice. See Clean energysectorLow interest loans, availability. See RenewableenergyLPG. See Liquid petroleum gasLuoyang, polysilicon producer/startup, 105tLuxembourgrenewable electricity share targets, 52fsolar PV support mechanisms, 97t
MMalaysia, renewable energy targets, 51tMalaysian Derivatives Exchange (MDEX), 283Maltarenewable electricity share targets, 52fsolar PV support mechanisms, 97tManhattan Project, 47–48Marathon Oil, Andersons (partnership), 12–13Market Vectors-Global Alternative, 20Market Vectors-Global Alternative Energy ETF,clean energy ETF, 17tM&As. See Mergers and acquisitionsMassachusetts, solar PV incentives, 93tMassey Energy, 288
index
JWPR076-Asplund
January 15, 2008
17:17
362Materials science, 39Maxwell Technologies, Inc.,230MCFC. See Molten carbonate fuel cellMDEX. See Malaysian Derivatives ExchangeMDI. See Moteur Development InternationalMechanical Technologyanalysis, 156U.S. fuel cell company, financial data, 155tMedis Technologiesanalysis, 156U.S. fuel cell company, financial data, 155tMelvin Clean Energy Index, 23annual performance, 24fcomparison. See Russell 2000; Standard &Poor’s 500crude oil prices, contrast, 44fsubsector indexes, 25fMelvin Clean Energy subsector stock indexes,23–24Melvin Ethanol Index, crude oil prices(contrast), 45fMelvin Power Efficiency Index, crude oil prices(contrast), 46fMelvin Solar Power Energy Index, crude oilprices (contrast), 45fMEMC Electronics, 105twafer producer, 108Mergers and acquisitions (M&As), 137–138transactions, 138Metallurgical-grade silicon (MGS) flakes,production, 85–86Metallurgical silicon, 85–86. See also UpgradedMetallurgical Silicontransformation, 116Methane (CH4 ), impact. See Global warmingMethane (CH4 ) gas extraction, 183–184Methyl Tertiary Butyl Ether (MTBE)cessation, 258oxygenate, 277switch, 25. See also EthanolMGP Ingredients, 269MGS. See Metallurgical-grade siliconMicro-cap companies, market caps, 9Microwave repeater stations, 87Middle Eastinstalled wind capacity, 133frenewable energy targets, 51tMika Teknik, control system manufacturer, 144Mitol, polysilicon producer/startup, 150tMitsubishi Electricglobal solar PV cell/module producer, 119twind power, involvement, 138Mitsubishi Materials Corporation, 104, 105tMolten carbonate fuel cell (MCFC), 151t,153–154example, 154fMonosilane gas (SiH4 ), 86Motech Industries, 120global solar PV cell/module producer, 119tREC contract, 108
Char Count= 0
INDEX
Moteur Development International (MDI), 241M.Setek, polysilicon producer/startup, 105tMTBE. See Methyl Tertiary Butyl EtherMutual funds. See Clean energy; Green mutualfunds
NNALFX. See New Alternatives FundNanoSafe, 246Nanosolar, concept, 39Nanotechnology, 39Nanyang Bulk, polysilicon producer/startup,105tNational Action Plan for Energy Efficiency, 188National Association of Securities DealersAutomated Quotations (NASDAQ), 9National Grid, renewable energy sales(ranking), 180tNationalism, rise, 30National Registry, allowances (decrease), 300National Renewable Energy Laboratory. SeeU.S. National Renewable EnergyLaboratoryNatural gaspercentage, 65power, BP involvement, 13Natural gas generators, 40Natural-gas-powered vehicles, 239NCPA. See Northern California Power AgencyNEG Micon, Vestas acquisition, 142Netherlandsrenewable electricity share targets, 52fsolar PV support mechanisms, 97tNet meteringcapabilities, 217usage, 49Nevadaprototype dish/Stirling systems, operation, 80Renewable Standards Portfolio, 80solar PV incentives, 93tNevada Geothermal Power, 175Nevada One CSP solar plant, 81fconstruction, 80Nevada Power and Light, PPA, 175Nevada Power Company, PPA, 174New Alternatives Fund (NALFX), 18, 20clean energy mutual fund data, 19tNew JerseyCO2 emissions caps, 56solar PV incentives, 94tNew Mexico, Western Regional Climate ActionInitiative, 57New York, solar PV incentives, 94tNew York Board of Trade (NYBOT)sugar futures trade, 280–281world sugar, 281fNew York Stock Exchange(NYSE), 9New Zealand, renewable energy targets, 51tNexxus Lighting, Inc., 196
index
JWPR076-Asplund
January 15, 2008
17:17
363
Index
Nickel cadmium rechargeable batteries, 228Nickel-metal-hydride rechargeable batteries,228Nigeria, oil exports, 33Nippon Steel, polysilicon producer/startup, 105tNon-EU countries, renewable energy targets,51tNon-EU Europe, renewable energy targets, 51tNon-OECD countrieseconomic growth, 35electric power generation supply, 35emergence, 34Non-OECD energy demand, 34–35Non-OPEC oil producers, output (stability), 30Nonsilicon technologies, 115Nordex AG, 141global pure-lay wind power manufacturer,140tmanufacturer/component supplier, 143tstock holdings, 20Norilsk Nickel, Interros partnership, 156Norsun, polysilicon producer/startup, 106tNorth Americainstalled wind capacity, 133frenewable energy targets, 51tNortheast Blackout of 2003, 40Northeast Regional Greenhouse Gas Initiative,56Northeast Utilities, AMI smart meteringprojects, 217Northern California Power Agency (NCPA), 174Norway, renewable energy targets, 51tNot in my backyard (NIMBY) objections, 88elimination, 130NREL. See U.S. National Renewable EnergyLaboratoryNRG Energy, 294Nuclear plants, electricity cost, 81Nuclear power, percentage, 65. See also TotalU.S. energy consumptionNutriSystem, stock holdings, 18NYBOT. See New York Board of Trade
OOcean Power Technologies, 186OEC. See Ormat Energy ConverterOECD. See Organization for EconomicCooperation and DevelopmentOffshore wind power, 130OG&E Electric Services, renewable energysales (ranking), 180tOil companies, assets/reserves control (loss), 30Oil pricesdecrease, impact, 43increase, 42–43long-term direction, 29shocks, 69volatility. See Crude oil pricesOil reserves (extraction), capital (necessity),30–31
Char Count= 0
Oil supplycutoff, Iran (impact). See World oil supplyemergence, 30shocks, 69Oil wars, possibility, 32OLED. See Organic light emitting diodeOM Group Inc., stock holdings, 15One-way automated meter reading systems, 217On-site renewable electricity generationsystems, economy, 49Ontaria, coal-fired plants (shutdown), 285–286Open standard protocols, preference, 217OpenWay product (Itron), 219Operation Desert Storm (first U.S.-Iraq War),28–29, 32Options contracts, green relationship, 21Oregonsolar PV incentives, 94tWestern Regional Climate Action Initiative,57Organic light emitting diode (OLED), 195Organization for Economic Cooperation andDevelopment (OECD)countriesemergence. See Non-OECD countriestransportation energy demand, 36discipline, loss, 43nationsenergy consumption, 33–34total electricity generating capacity, IEAforecasts, 88–89Organization of Petroleum Exporting Countries(OPEC)control. See Crude oil pricessubservience, 29Orkla, 118Ormat Energy Converter (OEC), 173Ormat Technologies Inc., 173–174stock holdings, 18OTCBB. See Over-the-Counter Bulletin BoardOTC spot market. See Over-the-counter spotmarketOtter Tail Corporation, wind towermanufacturer, 142, 144Over-the-Counter Bulletin Board (OTCBB), 9Over-the-counter (OTC) spot market, 275Overvaluation, caution, 22–23
PPacific countriesinstalled wind capacity, 133frenewable energy targets, 51tPacific Ethanol, 269Pacific Gas & Electric (PGE), AMI smartmetering projects, 217PacifiCorp, renewable energy sales (ranking),180tPAFC. See Protonic ceramic fuel cellPalm oil, 283futures/options, 21
index
JWPR076-Asplund
January 15, 2008
364PCFC. See Protonic ceramic fuel cellPeabody Energy Corp., 288,295Peak shaving, schematic. See Demand responsePEM. See Polymer electrolyte membrane;Proton exchange membranePennsylvania, solar PV incentives, 94tPetroleo Brasileiro SA, 262Petroleumcompanies. See Forward-looking integratedpetroleum companiesimport dependence. See U.S. petroleumimport dependenceoil, U.S. imports, 62percentage, 65prices, dependence (elimination), 31–32PGE. See Pacific Gas & ElectricPHEVs. See Plug-in hybrid electric vehiclesPhilippines, renewable energy targets, 51tPhilips Electronics, LED manufacturer, 196Phoenix Motorcars, 248Phosphoric acid fuel cell (PAFC), 151tPhoton Consulting, 90–91, 101Photon International, 256Photovoltaic (PV) power. See Solarphotovoltaic powerPhotovoltaic (PV) value chain schematic,85fPhotowatt/ATS, polysilicon startup, 106tPhotowatt/Total, polysilicon producer/startup,106tPhysical attack, tolerance, 203Pilot power tower system. See Solar One; SolarTwoPink Sheet stock, 9Pittmann, Gary E., 193PLC. See Power line carrierPlug-in gasoline-electric hybrid vehicles,comparison, 61Plug-in hybrid electric vehicles (PHEVs),244–246advantage, 245delay, 245Plug Poweranalysis, 154, 156U.S. fuel cell company, financial data, 155tPOET Biorefining, 269ethanol producer, 270tPolandrenewable electricity share targets, 52fsolar PV support mechanisms, 98tPolaris Geothermal, 175Polk, R.L., 242Pollution, impact, 27–31Pollution-free energy, supply, 179Polymer electrolyte membrane (PEM) fuelcells, 152–153usage, 161Polysiliconcompanies, investment (focus), 112costs, 103
17:17
Char Count= 0
INDEX
industry, 109–110lead times, 111production, 107long-term contracts, establishment, 112MGS usage/processing, 86players, investment (avoidance), 112pricesincrease, 107strength, 110pricing, caveat, 107–108producers, 103–112. See also Globalpolysilicon producerslist, 105t–106tuMGS, competition, 116–118productioncosts, 111forecast, 109fgrowth, industry forecasts, 108–109scale, importance, 111shortage, 106–108startups, 105t–106tsupply, 104fvalue chain, 85Pool, solar heating system, (capital costs), 76Portfolio 21, environmentally screened mutualfunds, 20Portland General Electric, renewable energysales (ranking), 180tPortugalrenewable electricity share targets, 52fsolar PV support mechanisms, 98tPost-Kyoto carbon emissions framework,57–59Powerbackup systems, 225generation, IEA forecasts, 89quality, providing, 203storage, 225products, companies (involvement). SeeAdvanced power storage productssystems, 231–233Power efficiency, 187, 309benefits, National Action Plan for EnergyEfficiency identification, 188resources, 316solution. See Demand responsePower-generating capacity (necessity), EIAestimates, 187Power gridcost (increase), wind power intermittency(impact), 127support, 150Power line carrier (PLC) network transmissionmethod, 206appearance, 211Power Purchase Agreements (PPAs), 172. Seealso Nevada Power and Light; NevadaPower Company; Southern CaliforniaPublic Power AuthorityPowerShares Cleantech Portfolio, 15clean energy ETF, 16t
index
JWPR076-Asplund
January 15, 2008
Index
PowerShares Global Clean Energy Portfolio, 15clean energy ETF, 17tPowerShares WilderHillClean Energy Portfolio, 14–15clean energy ETF, 16tProgressive Energy Portfolio, 15, 20clean energy ETF, 16tPower towers, 77. See also Concentrating solarpowerPower utilities, RPS (usage), 49PPAs. See Power Purchase AgreementsPrice movements, causes. See CoalPrimary energy consumption, EIA forecast, 34fPrivate capital, increase, 47Production tax credit (PTC), usage, 135Proton exchange membrane (PEM) fuel cells,152–153usage, 161Protonic ceramic fuel cell (PCFC), 151tPrototype dish/Stirling systems, operation. SeeArizona; Colorado; Nevada; SpainPTC. See Production tax creditPublicly traded clean energy companies,perception, 9Publicly traded stocksinvestment criteria, 21–22selection, 9Public Utility Commissions (PUCs), advancedmetering reports, 216Public wireless network transmission method,206PUCs. See Public Utility CommissionsPuget Sound Energy, renewable energy sales(ranking), 180tPump-and-dump scams, 9Pumped-hydro storage, 231Pure-play, consideration. See Clean energyPure-play publicly traded wind turbinemanufacturers, 139PV News, 90data, collection, 118PV power. See Solar photovoltaic power
QQ-Cells, 118, 120global solar PV cell/module producer, 119tstock holdings, 20
RRadiation-mitigation technology, 230Radio frequency (RF) network transmissionmethod, 206Rankine Cycle System, 170Rate pancaking. See Wind powerReal-time pricing data, retrieval, 209REC. See Renewable Energy Certificate;Renewable Energy Corp.Rechargeable batteries, types,227–229
17:17
Char Count= 0
365Regenerative fuel cells (RFCs), development,157Regional Greenhouse Gas Initiative. SeeNortheast Regional Greenhouse GasInitiativeRegional solar PV demand share, 91fRemote location, 87Remote sensors, usage, 87Remote water pumps, usage, 87Renewable electricity, 6increase, Union of Concerned Scientists(belief), 54Renewable energybill, Congress approval (possibility), 48certificates, 180–181credits, usage, 50data, 312forecasts, 70–73legislation/incentives, 313loan guarantees, availability, 49–50low interest loans, availability, 49–50plans/reports, 312sales, U.S. utilities (ranking), 180tsources, 181–182subsidies, 49targets, 50. See also European Unioncountries; Non-EU countriestax breaks, 49technology, 314web sites, 313Renewable Energy Certificate (REC)award, 181Green-e, monitoring, 181Renewable Energy Corp. (REC) (Norway), 10,82, 102, 105tcontract. See Motechinstitutional equity analysts, meeting,110–111operating profit margin, 103polysilicon producer, 104wafer producer, 108Renewable Fuels Association, web site, 7Renewable Fuels Standard (RFS), 257–258Renewable Portfolio Standards (RPS)imposition, 177requirement, 180–181usage. See Power utilitiesRenewable road transport fuels, 6Rentech, Inc., 295REpower Systems AGglobal pure-lay wind power manufacturer,140tmanufacturer/component supplier, 143tstock holdings, 20Suzlon acquisition, 141Residential grid electricity prices, solar power(competition),101Reusable alkaline rechargeable batteries, 228RF. See Radio frequencyRFCs. See Regenerative fuel cells
index
JWPR076-Asplund
January 15, 2008
366RFS. See Renewable Fuels StandardRooftop program (Germany), 91Ruhrgas Industries Group, 221Russell 2000, 23Melvin Clean Energy Index, comparison, 24f
SSacramento Municipal Utility District,renewable energy sales (ranking), 180tSAI. See Solar America InitiativeSandia National Laboratories (SNL), windresearch programs, 136Sandor, Richard, 303San Jacinto Power S.A., control, 175Sanyo Electric, global solar PV cell/moduleproducer, 119tSaphion, 246Sasol Ltd., 295SatCon Technology Corp., 236Energy Systems Division, 234–235SCE. See Southern California EdisonSchaeffler Group, bearing manufacturer, 142Scheuten Solarholding VB, solar-grade siliconproduction, 118Scheuten SolarWorld Solizium GmbH, 118Schmack Giogas AG, 184Schneider Electric, stock holdings, 18Schott AG, 80Schott Solar, global solar PV cell/moduleproducer, 119tScience Applications International Corp., 79Scottish Power, wind capacity ranking, 145fSecurities and Exchange Commission (SEC)scrutiny (absence), 9Seed companies, 273Self-heating, 203Semiconductor technology, 39Senate-House energy package, expectation, 55Sensus Metering Systems, 222–223Sharp, Global solar PV cell/module producer,119tShell Springboard, 5–6Shin-Etsu Handotai Co., 104Sichuan Xinguang Silicon, polysiliconproducer/startup, 106tSiemenswind power, involvement, 138wind production, 125Siemens Silicon, 113tSiemens Windacquisition, 142manufacturer/component supplier, 143tSierra Club, environmentally screened mutualfunds, 20SiH4 . See Monosilane gasSilicon-based technology, knowledge base,115Silicon solar cellsexample, 83fthin film, competition, 112–116
17:17
Char Count= 0
INDEX
Silicon waferspolysilicon, usage, 86usage. See Solar photovoltaic powerSingapore, renewable energy targets, 51tSK Corporation, construction partnership. SeeCombined-cycle gas turbine power plantSKF AB, bearing manufacturers,142Slovakia, solar PV support mechanisms, 98tSlovak Republic, renewable electricity sharetargets, 52fSloveniarenewable electricity share targets, 52fsolar PV support mechanisms, 98tSmall- and medium sized enterprises (SMEs),business opportunities, 6Small and mid cap growth, 21Small to mid-cap clean energy company,criteria, 21–22Smart electric meters, usage percentage,211fSmart grid, 201–203future, 202tSmart Hydrogen, cash infusion,156Smart meters, 201benefits, 210future, 216–217industry growth rates, 218–219resources, 316role, 206–210usage, 211Smart thermostatexample, 209fusage, 209–210SNL. See Sandia National LaboratoriesSocial activity, disruption, 38Socially responsible funds, 20Sodium sulfur rechargeable batteries, 229SOFC. See Solid oxide fuel cellSoG silicon. See Solar-grade siliconSolar America Initiative (SAI) (DOE), 89,101goals, 101–102Projected Cost Reductions. See Solarphotovoltaic SAI projected costreductionssolar PV technologies, 113Solar cellsassembly, 84creation, 86manufacturers, investment outlook,122–124value chain, 85Solar demand, governmentincentives/regulation generation,91–99SolarFun, 120U.S.-listed solar PV company, 121tSolargenix Energy, 80Solar-grade (SoG) silicon, 117
index
JWPR076-Asplund
January 15, 2008
Index
Solar heating system, capital costs. See PoolSolar hot watercapacity, increase, 76–77collector, components, 76heating, increase. See EuropeSolar hot water/heat, 75discussion, 76–77Solar industrysupply/demand structure, 110upside/problems, 123–124Solar lighting, 196–197Solar modulescompanies, questions, 123life cycle, 86manufacturers, investment outlook, 122–124schematic, 84fsystem, 84fvalue chain, 85Solar One (pilot power tower system), 80Solar parks, construction, 100Solar photovoltaic (PV) cellsproducers, 118–121production. See World annual solar PV cellproductionSolar photovoltaic (PV) company breakdown,113tSolar photovoltaic (PV) demand, 88–89share. See Regional solar PV demand shareSolar photovoltaic (PV) financial incentives, 92,99Solar photovoltaic (PV) growth. See Germany;Japanacceleration, 92Solar photovoltaic (PV) industry, costs(reduction), 102–103Solar photovoltaic (PV) modulesproducers, 118–121production forecast. See Global solar PVmodule production forecastSolar photovoltaic (PV) park, 87–88Solar photovoltaic (PV) power, 75, 81–89advantages, 82–83competitiveness, 61costs, 100disadvantages, 83electrical contacts, application, 83–84equipment, 82function, 83–85silicon wafers, usage, 83system integration/installation, value chain, 85technology, 314up-front cash cost, 83Solar photovoltaic (PV) productionprocess/value chain, 85–87Solar photovoltaic (PV) SAI projected costreductions, 102fSolar photovoltaic (PV) target markets, 87–88Solar photovoltaic (PV) technology, 114fSolar power, 75attractiveness, 87
17:17
Char Count= 0
367competition. See Residential grid electricitypricesnecessity, absence, 99–100competitiveness, 99–103costs, decrease, 82industry growth rates, 89–91potential, 308pricing, 99–103systems, 40world average cost, 99Solar systems, module connections, 87Solar thermal hot water panel, 76fSolar thermal power, 75–81technology, 314Solar Two (pilot power tower system), 80SolarValue AG, polysilicon startup, 106tSolar water heaterscost, reduction, 76utility bill, 76SolarWorldjoint venture, 118polysilicon producer/startup, 106tSolid oxide fuel cell (SOFC), 151tusage, 161Solid-state digital electricity meter, 217Solid-state digital electric meter, 207fSolid state lighting (SSL), 195Solix Biofuels, 294SourceForge, stock holdings, 18South Africa, renewable energy targets, 51tSouth America, renewable energy targets, 51tSouthern California Edison (SCE)AMI smart metering projects, 217business case experience. See AdvancedmeteringSouthern California Public Power Authority,PPAs, 174Soybean oil, 281–282Spainprototype dish/Stirling systems, operation, 80renewable electricity share targets, 52fsolar PV support mechanisms, 98tSpectra, environmentally screened mutualfunds, 20Speculative bubbles, 22–23SSL. See Solid state lightingStandard Industrial Classification (SIC). SeeEnergy technologyscheme, 40Standard & Poor’s 500 (S&P500), 23Melvin Clean Energy Index, comparison, 24fSteady per-capita electricity usage. SeeCaliforniaSteam turbine power generating plant, BPconstruction, 13Stern, Sir Nicholas, 38Stern Report, Summary of Conclusions,38–39Stirling Energy Systems, 79Stirling engine, dish system (linkage), 79STM Corp., 79
index
JWPR076-Asplund
January 15, 2008
17:17
368Stock marketefficiency, 9problems, 22Stocks. See Clean energy stocksbuying opportunities, 23correlation. See Crude oillong-term appreciation, 8week-to-week fluctuations, worry (absence),23Straits of Hormuz, blockade, 32String ribbon technique, 86Subsidies. See Renewable energySugar, 280–281futures/options, 21prices, rally, 281Sumco/Komatsu, agreement, 110Sun energy, usage, 82Sunfire Corporation, 79SunPower Corp., 120global solar PV cell/module producer, 119tstock holdings, 15U.S.-listed solar PV company, 121tSuntech Power Holdings, 10, 120global solar PV cell/module producer, 119tpure-play solar manufacturers, 118U.S.-listed solar PV company, 121twealth, 47–48Super capacitors, 229–230Supercomputing magnetic energy storage, 230SurModics, stock holdings, 18Suzlon Energy Ltd., 141acquisitions, 141, 142global pure-lay wind power manufacturer,140tmanufacturer/component supplier, 143tSwedenrenewable electricity share targets, 52fsolar PV support mechanisms, 98tSwiss Wafer, polys