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South Korea's LG to Invest 8 Trillion Won in "Green New Business"

South Korea-based LG, the second largest business conglomerate in the country, announced new plans to invest 8 trillion won (US $6.8bn) into the promising “green new business” sector. By 2015, LG’s investments will aim to generate 10 trillion won in revenues and create 10,000 new jobs.

Key focal points for LG include the electric vehicle battery sector (which will receive a 2 trillion won investment by 2013), the photovoltaic, LED and water treatment sectors (to receive 1 trillion won investment by 2014) and the polysilicon business (set to receive 490 billion won in new investment by 2014.)

Additionally, 400 billion won by 2015 has been allocated toward the construction of new solar cell wafer manufacturing facilities.

South Korea has clearly identified the new energy mega trend as a major profit center for the future. Through a combination of substantial private sector investments and government stimulus programs, South Korea is positioning itself to benefit as the world transitions to a low-carbon energy economy.

Read the original article here

Learn more about developments in the global clean energy industry

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European Union to Build Stockpile of Rare Earth Elements

The European Union has announced it will build a stockpile of rare earth elements to boost domestic supply and safe-guard against Chinese dominance.  Rare earths are necessary components in a wide array of clean energy and high-tech devices, and China largely controls global supply, supplying 97% of the world’s demand.

As China’s domestic clean energy production and demand has grown, it has imposed export quotas with an eye towards preserving its rare earth resources for its own future use.  These limitations have had a significant negative impact on clean energy and technology manufacturers in the West, sending governments into a frenzied search for new mining sources.

The EU plans to store rare earth elements in the form of a mixed carbonate.  So far, EU proposals call for an annual procurement of 3,000 tons.

Strategic initiatives to secure rare earth supplies have also taken hold in the United States and Britain.  Because the rare earth element supply chain cuts across the manufacturing, defense and science and technology sectors of the global economy, the United States Department of Defense considers the supply of rare earth elements to be a natural security issue.  More information can be found in this key briefing, available here:  “Rare Earth Metals and U.S. National Security.” The British government has likewise implemented a “strategic metals plan” to guard against future supply shocks stemming from China’s export policies.

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What if everything ran on gas?

Then again, what if everything didn’t?

Visit GasPoweredEverything.com to create a personalized profile of your life on gas.

 
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Posted by on June 15, 2011 in Uncategorized

 

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China Accelerates Adoption of Electric Vehicles

China is making advances towards a widespread roll-out of electric vehicles, beginning with a tentative subsidy plan in Beijing, the nation’s capital.

The proposed subsidy plan has already won approval from several government ministries involved in the decision-making process, and will likely take effect soon.  Under the plan, Beijing’s municipal government will offer subsidies ranging from RMB 50,000 (approx. US$7,700) for plug-in hybrid cars to RMB 60,000 (approx. US$9,200) for pure electric cars.  In addition, the municipal government will subsidize up to 30% of the construction costs for a network of charging stations and poles.

Beijing aims to have 100,000 pure electric vehicles on its roadways by 2015.  Notable policies supporting electric vehicles are also emerging in other major Chinese cities such as Shanghai and Hangzhou.  Chinese electric vehicle manufacturers, including BYD, Zotye and Chery, are applauding this move towards gasoline-free transportation with an eye towards rapid market growth.  Read more here…

 
 

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China, India & Brazil Lead as Global Auto Sales Trend Higher

High demand keeps global auto sales on the rise even as gasoline prices trend higher.

According to the April 2011 Short-Term Energy and Summer Fuels Outlook released by the U.S. Energy Information Administration (EIA), American drivers can expect to pay an average $3.86 per gallon during the 2011 driving season with a peak of $3.91 per gallon by mid-summer.

As a result, there has been renewed consumer enthusiasm for electric and high-mileage vehicles in the United States, with President Obama reporting that the U.S. is on track to achieve its goal of 1 million electric vehicles on the road by 2015.

Although increasing gasoline costs are having an effect on the average American consumer, the effect has not been translated as severely to other parts of the world, where vehicle ownership is still on the rise.  Sales of cars and light trucks is increasing rapidly in the world’s fast growing nations like China, India and Brazil.

During the month of March, Chinese vehicle sales rose 5.4% from March 2010 levels, to 1.82 million.  From March 2009 to March 2010, vehicle sales rose by 25%.  In India, vehicle sales as of March 2011 rose 30% on the year to 1.98 million.  Brazil’s Q1 sales of cars and light vehicles rose 4.7% to 852,000.  Auto sales in Turkey rose 76% to 181,631 vehicles during Q1, and Indonesia reported a 25.2% increase from the year before.

In many instances, these numbers represent first time auto purchases, as opposed to vehicles bought to replace older models.  If purchasing trends continue as expected, the total number of active vehicles on the world’s roads will increase sharply, and will undoubtedly affect global patterns of petroleum demand.  Read more…

 

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Extract from President Obama's State of The Union Address

President Obama’s State of the Union Address challenged Americans to “win the future” by stepping up in a world of increasing global competition.  “We need to out-innovate, outeducate and outbuild the rest of the world,” to create new jobs and “make America the best place in the world to do business.”

The President reaffirmed his dedication to clean energy, calling for massive scale federal investments for research and development. He also set a new clean energy target for 2035:

So tonight, I challenge you to join me in setting a new goal: by 2035, 80% of America’s electricity will come from clean energy sources. Some folks want wind and solar. Others want nuclear, clean coal, and natural gas. To meet this goal, we will need them all – and I urge Democrats and Republicans to work together to make it happen.

Last year, the President tried to end the nearly $40 billion in federal subsidies for oil, gas and coal companies, but his proposal was defeated by lawmakers.  In his address Tuesday night, he revisited the fossil fuel subsidy issue once more, saying “let’s stop subsidizing oil technology and subsidize new clean technologies instead.”

The President challenged the United States to compete with nations like China and India, which are investing heavily in clean energy technologies. The United States can increase its energy independence, revitalize and “reinvent” its manufacturing industries and create thousands of jobs by diving into this expanding global industry.

With more research and incentives, we can break our dependence on oil with biofuels, and become the first country to have 1 million electric vehicles on the road by 2015,” the President said.

Read a transcript of the speech here

 

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6 Green Technologies to "Dominate" Next 5 Years: New Report

Market research company SBI has published a report highlighted 6 green technologies predicted to “dominate” the field over the next five years.

Below are some excerpts from the report:

  1. Electric Vehicles: Worldwide hybrid electric vehicle sales predicted to double by 2014.  Exponential growth predicted in Europe, Australia and South Korea.  New market opportunities in India & China.
  2. Enhanced Oil Recovery: Practice can improve oil producing methods by 70 – 90%.  Oil viscosity is improved through steam, gas or injection of chemicals.
  3. Green Building: Use of recycled materials, sustainable sources, efficient building insulation and improved construction techniques contribute to sector growth.  Predicted to grow to $580bn by 2015, a 21% combined annual growth rate.
  4. Offshore Wind: Installations expected at higher rate than land-based turbines.  U.K. in particular may more than double offshore market value to $5bn by 2015.
  5. Smart Grid: Growth in grid infrastructure, information and communications technology and software and applications slated to grow as more renewables come online.  Predicted growth to $171bn by 2014.
  6. Solar: Concentrated solar power (CSP) market to jumpstart by 2012.  This fastest-growing segment of solar may grow to $3bn by 2014 from $700,000 in 2010, representing a 42% annual growth rate over the time period.

Read more here…

 
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Posted by on September 9, 2010 in Clean Energy, Energy Efficiency, Oil, Solar, Transportation, Wind

 

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