Obama to Add 20+ GW of Wind Power (and 4 GW of solar and geothermal power) in 3 Years

[jpak]

http://redgreenandblue.org/2009/01/12/obama-to-add-20-gw-of-wind-power-in-3-years/

An aide to Obama said Friday that the administration plans to add 20 gigawatts (GW) or more of wind power and 4 GW of geothermal and solar power by 2012 through loan guarantees and fast tracked national renewable energy requirements, like the Renewable Portfolio Standard. Last May the U.S. Energy Department estimated wind power could provide almost a quarter of U.S. electricity.

Trade groups from the U.S. wind and solar industries were happy with the news, considering that the current economic environment for commercial credit has lowered all boats as it were, with all investment now endangered - not just investment in risky financial instruments, but even those investments in renewable energy that are essential to growing a stable economy.

No other country, in any single year, has added the volume of wind capacity that was added to the US electrical grid in 2007 with both wind and solar growing well over 40%, but with the credit crunch affecting all sectors of the economy, new projects could drop by as much as 50%, without help from the Federal government.

In response to the news, renewable energy shares soared following the announcement, with the rally continuing into Friday. The move was an about-face for many of those stocks, which have been battered by a string of recent earnings warnings from solar companies including Germany’s Q-Cells, U.S.-based MEMC Electronic Materials Inc , and China’s LDK Solar Co Ltd;.

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:thumbsup:

[One_Life_To_Give]

1. I doubt it

Not going to add another 20GW to what is already slugging it's way thru the permitting process. And still be complete and online within three years. Not if Cape Wind is any kind of example of what it takes to permit renewable systems.

[jpak]

2. There is ~1GW of wind projects in the pipeline here alone in Maine - many well underway

If the financing is there - they will happen...

[One_Life_To_Give]

3. Will happen without any effort from POTUS

Palin could have won the election and they would still be built. That is nothing new or caused because of what Obama has done. Getting 20GW that would not otherwise be built, completed by 2012 because of specific actions conditions which don't exist on 1/19/09 is a very tall order.

[kristopher]

4. No it wouldn't.

That's why "stocks soared". The federal loan guarantees are a first for wind; they usually have to pay top dollar for venture capital. Also Minerals Mining Service is in a position to fast track permitting for offshore wind development on a large scale. There is usually a requirement from financing that 2 years worth of actual wind measurements are required before financing can go forward, but that is a holdover from on-shore wind where there is a lot of variability due to differences in local terrain. Offshore is extremely consistent so with the fact track permitting and loan guarantees, it is poised for very rapid buildup.

Cape Wind permitting process is not representative of what can be expected in the rest of Federal waters. They are almost ready to start building there after 8 years of "review".

[jpak]

5. I sincerely hope that Obama makes Cape Wind a priority

It will set a precedent for other offshore wind projects - and play a major role in NE ISO, especially during hot summer days when the sea breeze maximizes power output during time of peak Beantown AC demand...

[One_Life_To_Give]

6. You are more optimistic than I

Loan guarantees, in the current economic conditions will cause some projects to complete on schedule that otherwise would have been delayed a few years. Is that the same as bringing about many GW of new power? It's not a bad thing, but it's not going to have that big an impact IMO. But maybe I will be proven wrong.

Having seen the Nimby opposition to Cape Wind I am highly suspect of anyones timeline to complete renewable energy projects within the US. It takes more than a press release now to get me excited. How long will the propject be delayed with a Suit against the CG report on Radar?

[kristopher]

7. I don't know of legal action on that

All I've heard of is the Rep from (coal country) WVa who asked the Coast Guard for another review of their position. The Coast Guard is under the direct authority of the executive.

Offshore wind developments are far enough out that there is very little public opposition. Cape, as I said, is an exception. If you don't know that, then you aren't informed on the topic. (No snark intended, it is simply a fact.) Rhode Island, New Jersey, and Delaware already have projects in the pipeline. Once they marshal the resources to start, it is very easy continue.

Google "MMS wind" and visit their website to see what is happening. Bear in mind that the process so far has been under an administration not friendly to renewables. They could speed up the process easily at this point.

[Kolesar]

8. Wow. That was very informative

:yay:

[Susan Kraemer]

9. Actually One_life_to_live - it's not as hopeless as you think

I'm the writer who wrote the original post quoted above - and you need to read it in full to see why the horrible NIMBYism around Cape Wind is not typical, and that this is major good news.

There's several reasons why. In the original article I bring these reasons up.
The Renewable Portfolio Standard coupled WITH the loan guarantees. Those are like a carrot and stick.

[jpak]

10. Welcome to DU!

and keep posting

:hi:

:thumbsup:

[bananas]

11. Welcome to DU!

This is great news, thanks!