QUICK NEWS, April 16: THE RACE AGAINST CLIMATE CHANGE; THE FAST RISING POTENTIAL OF U.S. NEW ENERGY; BIG TEXAS WIND SHRINKS ELECTRICITY MRKT PRICE

THE RACE AGAINST CLIMATE CHANGE IPCC: Mitigating Climate Change More Challenging Than Ever

Eli Kintisch, 13 April 2014 (Science)

“Global greenhouse emissions are skyrocketing. Emissions cuts required to avoid dangerous impacts of climate change are steep. And despite decades of talk, world governments have made paltry efforts to address the problem...That’s the grim picture painted by…[the latest climate change report from] the Intergovernmental Panel on Climate Change (IPCC)…The report also describes the daunting work required to sidestep climate dangers…Economists have compared the task of lowering the world economy’s carbon footprint—now the equivalent of about 50 billion tons of carbon dioxide per year—to turning a cruise ship. But the report says the ship is firing full steam ahead…[and tackling global emissions on such a massive scale will be pricey, the report finds…” click here for more

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THE FAST RISING POTENTIAL OF U.S. NEW ENERGY Report Challenges EIA's Renewable Energy Projections; Says Renewables Could Hit 16% of U.S. Electrical Generation in Five Years, Not 27 Years as EIA Forecasts

Ken Bossong, April 16, 2014 (SUN DAY Campaign)

“…[T]he SUN DAY Campaign challenges assertions by the U.S. Energy Information Administration (EIA) that renewable energy sources will provide only 16% of the nation's net electrical generation by the year 2040. Using EIA's own previously published data, the analysis shows that it's more likely the 16% level could be reached within five years…EIA's own published data…that the percentage of the nation's net electrical generation represented by renewable energy has expanded from less than 9% in 2004 to nearly 13% in 2013…Given the relatively consistent growth trends of the past decade or longer for most renewable energy sources and their rapidly declining costs, it seems improbable that it will require another 27 years to grow from 13% to 16%...[EIA's forecast] is simply wrong…[I]f the trends reflected in EIA data from the past decade continue, renewable energy sources could increase to as much as 13.5% of net U.S. electrical generation in 2014, to 14.4% in 2015, to 15.3% in 2016, and reach or exceed 16.0% no later than 2018…[or, at worst,] by 2020…” click here for more

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BIG TEXAS WIND SHRINKS ELECTRICITY MRKT PRICE Power Prices in Texas Fall as Wind Generation Above Forecast

Harry R. Weber, April 14, 2014 (Bloomberg BusinessWeek)

“Spot wholesale electricity in Texas slid as generation from wind was above expectations…Wind power on the Electric Reliability Council of Texas Inc. network averaged 8,778 megawatts for the hour ended at 10 a.m. local time, above the day-ahead forecast of 8,425 megawatts…Spot power at the Texas North hub, which includes Dallas, fell $6.52, or 18 percent, to average $30.59 a megawatt-hour for the hour ended at 10 a.m. versus the same time April 11…Houston hub prices declined $6.29, or 17 percent, to $30.64…New York City power rose $2.43, or 6.2 percent, to average $41.71…while Boston power gained $2.03, or 5.4 percent, to $40.12…” click here for more

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