Fiscal code of Honor: Congress must choose a clean energy future

Senate Finance Committee Chairman Wyden has officially begun again taking into account the legislation, a suite of tax credits, to the big polluters and their allies managed to run from Congress, including important, sensible policies that promote clean energy.

Franz A. Matzner is Associate Director of Government Affairs for the natural resources Defense Council. His political background includes forestry, energy and climate change. He had the position of senior policy analyst for the agricultural...
Here, create your free account to sign up for our free e-newsletter:

View the original article here

Ten Clean Energy Stocks for 2014: March Update

After a rough January, the stock market recovered in February, while clean energy stocks partied like it was 2013.

My annual Ten Clean Energy Stocks model portfolio also had a good month, rising 6.0 percent, and is now up 4.7 percent for the year in dollar terms, and up % in local currency terms. My broad market benchmark (the iShares Russell 2000 index) is up 7.5 percent for the period and 1.5 percent for the year. Clean energy stocks soared higher, with the Powershares WilderHill Clean Energy ETF (NYSE:PBW) up 16.3 percent for the period and 15.7 percent for the year.

Turning to individual stocks in the model portfolio, several companies have reported 2013 results. I cover this and other significant news below.

Individual Stock Notes

(Current prices as of February 3rd, 2014. The "High Target" and "Low Target" represent the ranges within which I predicted these stocks would end the year, although I expect a minority will stray beyond these bands due to unanticipated events.)

1. Hannon Armstrong Sustainable Infrastructure (NYSE:HASI).
Current Price: $14.05. 12/26/2013 Price: $13.85. Annual Yield: 6.3%. Low Target: $13. High Target: $16.
YTD Total US$ Return: 1.4%

Sustainable Infrastructure REIT Hannon Armstrong announced full year results. While management reaffirmed their 13 percent to 15 percent target for core earnings and dividend growth, the company took a provision of $0.69 per share on investment in a geothermal loan, which was a larger write-down than I had anticipated. Some of this may be recovered in future quarters.

Because of the loss, management presented significant details about the credit quality of its other assets in the conference call, 96 percent of which is investment grade. This seems to have reassured investors, as the stock has been rising to bring its yield more in-line with other clean energy income stocks.

2. PFB Corporation (TSX:PFB, OTC:PFBOF).
Current Price: C$5.30. 12/26/2013 Price: C$4.85. Annual Yield: 4.5%. Low Target: C$4. High Target: C$6.
YTD Total C$ Return: 10.5%. YTD Total US$ Return: 6.8%

Green Building company PFB scaled back its stock repurchase program in February, but board member and large shareholder, Edward Kernaghan has continued his purchases, buying 3,700 shares since the last update. The company paid its regular C$0.06 dividend in February.

3. Capstone Infrastructure Corp (TSX:CSE. OTC:MCQPF).
Current Price: C$3.84. 12/26/2013 Price: C$3.55. Annual Yield: 7.8%. Low Target: C$3. High Target: C$5.
YTD Total C$ Return: 10.3% . YTD Total US$ Return: 6.6%

Independent power producer Capstone will hold its annual results conference call on March 7th.

4. Primary Energy Recycling Corp (TSX:PRI, OTC:PENGF).
Current Price: C$5.44. 12/26/2013 Price: C$4.93. Annual Yield: 4.1%. Low Target: C$4. High Target: C$7.
YTD Total C$ Return: 11.5% . YTD Total US$ Return: 7.8%

Waste heat recovery firm Primary Energy announced the long-anticipated recontacting of its largest facility on Friday. In the two trading days since, only 920 shares have traded, compared to a three month average daily trading volume of over 20,000 shares. This reflects a lack of willing sellers as shareholders await the company's annual results, to be released on March 18th.

5. Accell Group (Amsterdam:ACCEL, OTC:ACGPF).
Current Price: €14.27. 12/26/2013 Price: €13.59. Annual Yield: 3.9%. Low Target:€11.5. High Target: €18.
YTD Total € Return: 5.0% . YTD Total US$ Return: 5.0%

View the original article here

Ten clean energy shares for 2014: February update

The stock exchange has introduced a rough five weeks since I my annual ten clean energy stocks model portfolio on December 27. My broad market benchmark (iShares Russell 2000 index) is for the period to 5.6%. Clean energy stocks fared better, with the power shares WilderHill clean energy ETF (NYSE: PBW) by only 0.5%, as I write this. Mine is ten clean energy stocks model portfolio 0.9% in local currency, but the weakness of the Canadian dollar (minus 3.5%) and euro (minus 1.5%) turned to this in a $ fall by 1.0%.

Riskier stocks performed better in General, but with much larger differences. The first six income shares lost an average 2% with a standard deviation of 3% on $. The next four growth stocks were flat on average with a standard deviation of 8%. The two extra "speculative" picks carried speculative, with a 35% and the other to 22%, for an average of 7%.

January was pretty quiet for individual stocks in the portfolio, but where there was significant news, I place it below.
Individual camp notes

(Stand: 3 February 2014 at current prices.) "Aim high" and "low target" represent the areas within, which I predicted that these stocks would at the end of the year though I expect that a minority of these bands because of unforeseen events will differ.)

1 Hannon Armstrong sustainable infrastructure (NYSE: rabbit)
Current price: $13,00. 26.12.2013 price: $13.85. YTD total US$ return: annual return: 6.4%. Low target: $13. Aim high: $16.

Sustainable infrastructure REIT Hannon Armstrong on the lower end of the range between my high and low targets for fast start-up based in its large dividend increase in December fell. The only slightly negative news was that an SEC filing the company explained it, had agreed to amend the terms and conditions for a portfolio loan to geothermal developer EnergySource LLC. The balance of the loan amounts to $11.8 million or 74 ? per share. If the loan in default and there was no chance for the recovery of its value, a decrease of 74 ? would be justified. This is by far not the case; a stock seems better suited than the 85 ? have acceptance, we saw a decline of approximately 5 ?. Therefore, I have the vast majority of the pull-back benefit take and concerns by $13 a excellent starting point for anyone to show that not already owned by the storage attribute.

2. PFB Corporation (TSX: PFB, OTC: PFBOF)
Current price: C$ 5,12. 26.12.2013 price: C$ 4.85. Annual returns: 4.9%. Low target: C$ 4. Aim high: C$ 6.
YTD total C$ return: 5.6%. YTD total US$ Return:1.9%

Green Building society PFB explains the regular 6 ? quarterly dividend to shareholders of record on February 14. The company also continues to buy back its own shares. 5,700 Shares bought during the period. A Board member and major shareholder, Edward Kernaghan, bought also 3,800 shares on the open market.

3. Capstone infrastructure Corp. (TSX: CSE.) OTC: MCQPF)
Current price: C$ 3,55. 26.12.2013 price: C$ 3,55. annual return: 8.5%. Low target: C$ 3. Aim high: C$ 5.
YTD total C$ return: 1.1%. YTD total US$ return: 2.4%
Capstone paid its regular quarterly dividend of C$ 0.075 on January 31.

4. Primary energy recycling Corp (TSX: PRI, OTC: PENGF)
Current price: C$ 5.00. 26.12.2013 Price: C$ 4,93. Annual yield: 4.1%. Low target: C$ 4. Aim high: C$ 7.
YTD total C$ return: 1.4%. YTD total US$ return: 2.1%
I interviewed the primary CEO and wrote a detailed article, which you can find here. I add to my position.

5. Accell Group (Amsterdam: ACCEL, OTC: ACGPF)
Current price: €13,61. 26.12.2013 price: €13.59. Annual return: 5.5%. Low target: €11.5. High target: €18.
YTD total € return trip: 0.1%. YTD total US$ return: 1.5%
Bicycle manufacturer and distributor throughout Europe to streamline its Accell. The company sold Hercules, one of his four German brands. Accell has for the last 20 years owned Hercules and a profit of €3 million (€0.12) will book for the transaction.

6 New flyer industries (TSX: NFI, OTC: NFYEF)
Current price: C$ 11.04. 26.12.2013 Price: C$ 10,57. Annual return: 5.1%. Low target: C$ 8. Aim high: C$ 16.
YTD total C$ return: 4.4%. YTD total US$ return: 0.8%.

Cannaccord Genuity updated bus manufacturer new flyer to "Buy", probably as a reaction to strong shipments in the fourth quarter. The company once again a warning that margins 2014 highly competitive market the financial crisis weak due to the expected deliveries on bus contracts in pricing would.
View the original article here

2014: The maturation of clean tech

Begins a new year for the clean-tech industry maturation is a theme in the sense comes. And when we think of clean-tech not only as a growing global industry, but also as a basic global transition--like so many of their leaders and participants we do - their progress on Gandhi's much-quoted dictum of other transitions in the history of the chart. I am not saying that the growth of clean-tech an exact is analogous to India's struggle for independence from Britain; That would be quite presumptuous on many levels. But with renewable and distributed energy as a metaphorical threat to decades old ingrained ways of doing things, there must be parallels.

"First they ignore you, they mock you, then fight you, then you win."-Mahatma Gandhi
The U.S. solar energy industry, I think the best example of offers for Gandhi's progression. It was virtually ignored for years, with the exception of a small number of followers, and maybe fuss; for a long time, PV technology was solar relatively inefficient and prohibitively expensive. That brought ridicule, but the real phase of derision came much later with the 2012 bankruptcy of Solyndra. I hesitated to write that name, think that the distorted spin, triggered by the very old news now but 60 minutes should be dead and buried it in his Jan. 5 segment called "Cleantech Crash." recovered

In fact ridicule. A better name for the original Solyndra controversy, and often all clean-tech is ridiculous if a choice-driven political agenda denigrates the entire solar industry - after the failure of a Government-backed PV manufacturers. Ignored convenient game fell 50 to 60 percent in less than three years as prices squeezed margins for Panel manufacturers but sparks of the deployment boom of that was long predicted by industry analysts (including us) change this in the solar industry. Affordable mainstream energy, PV decided solar breaking up prices, along with the solar leasing and making contracts, the pioneering work of SunEdison, SolarCity and others, what it is today.

This brings us to 2013 and he "fight" - stage. Utility supports efforts to roll back or eliminate sparked battles in a dozen U.S. States net metering laws, some very controversial. The worst one in Arizona, included even attack show outside of the State groups call SolarCity and SunRun "the new Solyndras." After this battle, won the solar industry? In the way. Arizona regulators in November elected to keep net metering but paid 70 cents per kilowatt rooftop solar user added (about a fee of $8 sought utility Arizona public service).

Solar play this kind of fight supporter of the precedent-setting case (Virginia based utility Dominion also has one) don't like fixed fee for solar customers, and we will see in a number of States in 2014. GTM Research United States solar market insight Conference Dominion VP David Shuford stated bluntly that "last month in San Diego, we make money if we to build things." Load growth, the Dominion needed things, the private utility must protect its bottom line to build and generate solar roofs cutting enough juice in the two percent. But now deceased Federal Energy Regulatory Commission of Chairman Jon Wellinghoff, the same Conference Panel that such rental charges for "solar-distributed nonsensical" and "would not be maintained in appeal" before the Court.

Solar power the maturation has achieved clearly the level of "fight"; It is big enough to be taken seriously. There is a wealth of statistics to the selection in the map solar growth in the boom year of 2013. In the first 10 months of the year, utility-scale solar represented 21 percent of all new generating capacity in the United States; It was 72 percent in the month of October. And in a still never since unprecedented ruling in the first week of the year 2014 a Minnesota judge ruled that the utility is operating a better investment for Xcel Energy expansion plan as a new natural gas capacity.

Wind power, was naturally enough, serious to a while be taken. The U.S. wind industry is now in a new phase of maturation: end of 2013 live without the Federal production tax credit (PTC), is expired. The industry has there, with disastrous consequences, but this time it differs from the last boom-bust cycles of the 1990s and 2000s years. I don't think that the PTC will ever return to its previous form. the industry will likely lobby for some sort of tax subsidy as part of a comprehensive tax reform package. That the long overdue opening of the master limited partnerships for investments in renewable energy projects, the most likely wind parks would hopefully included. Instead of an own PTC, wind turbine, enjoy at least some allow the same treatment as fossil fuels, is the way it should be.

As already mentioned, not me as an accurate analog for clean see Tech Gandhi's struggles. It is not a stage of "Victory" over other energy sources, as clean tech reach It is driven part a large transition away especially that of coal and nuclear power in a future, natural gas, renewables and efficiency.

The movement away from venture capital and Government support is a sign of the maturing of an industry. It's easy on the losses of VC dollars in clean technologies (Tesla and SolarCity despite successes) show and explain the sector a failure - 2014 can bring to attract IPOs of Opower and nest-Labs. But that misses the bigger picture of an industry grew up. Gently cycles are part of this process; It is not just a question of a boom that went bust.

In 2014, a clean-tech is the core utility business model seriously challenge (be on the lookout after our US clean energy suppliers, the benchmarking report with Ceres this year, trying to keep track of this clean energy shift). The first new successful U.S. automaker found in more than half a century. It is an important part of any legitimate discussion of energy policy decisions on local, State and national level in most parts of the world. Clean-tech is still ridiculed and fought, but its days ignored are long in the past.

View the original article here

2014 Clean road map to energy and climate initiatives in New York State of the State report

NEW YORK city-mitigation of global warming emissions and building the clean energy economy are crucial to the future of the State of New York and the health and well-being for all New Yorkers. State Governor Cuomo of some significant new clean energy and climate initiatives announced in the this week's State of the event.

In case you had no time in listening to or by the State of 219 Government report pore, that released the Governor's Office after the speech, or see the various other energy volumes, the State issued in the last week, here is a street assign some of the highlights.

For starters, the status of the report stand last year applicable to some of the main State and impressive clean energy achievements carried out, including:

Extension of the successful NY-SUN-solar energy program, on already for the development of about 300 led MW solar power in New York - an exponential increase in the last five years. As my colleague Pierre Bull, writes just the other day, the State announced its to expand the program with an investment of 1 billion dollars to 3,000 MW of clean solar power more than a decade - a stunning ten times above the current level, and enough power 465,000 New York houses, cutting greenhouse gas emissions by 2.3 million tonnes per year increase the equivalent of nearly 435,000 cars off of the road - - and solar will create more than 13,000 new jobs.The introduction of the New York Bank $1 billion green work in partnership with the private sector to clean energy to remove financing barriers;Setting the target to install 2,500 new electric vehicle charging stations by 2018 – an important step towards the cleansing of our transport system; AndInitial steps in the development of New York's large and as yet untapped offshore wind resources. We hope to see more action on New York-offshore wind energy in 2014!

Forward, the condition of the State introduced a series of new clean energy and climate change resiliency initiatives for 2014, including the following.

First, the Governor announced a unique and interesting new program called NYPrize, which is a $40 million competition to build of the community of Microgrids for neighborhoods of 40,000 people. As the report explains, these new energy systems will combine local clean energy Microgrids - standalone-energy systems, which operate as an "energy island", in the case of a power outage - can keep communities access to electricity and heat. This could be an important community resiliency climate strategy, both showcasing energy technologies and future Superstorms vulnerable residents clean distributed protected.

Secondly, the Governor announced a big new school and the community "solarizing" program called Community solar NY, reports that, as my colleague, Nathanael Greene, New York finance help 5,000 schools and install solar power systems on their roofs reduce energy costs and creating a healthier environment. Led by the New York power authority and the New York & Research Markenverwertungsgesellschaft Energy Agency, this initiative is also solar schools as hubs "solarization" entire neighborhoods, rally based entire community around the benefits of solar energy, with a possible financial reward for solar schools on how many residents inspired to go solar.

Finally, the State of the State a number of new initiatives to deal with the "new reality" of climate change. Note on the "new normal" of more frequent and severe extreme weather events - with three large storms, to harden the impact on New York State in only eighteen months, the Governor's plan contains $17 billion in projects to strengthen the New York communities to extreme weather conditions, including $1.4 billion for much-needed projects and improvement of electric energy systems, upgrade protection for sewage treatment plants and systems, $1.9 Billion for coastal protection projects and more support for natural infrastructure protection such as wetlands and beach restoration. My colleague Eric Goldstein has the details here.

As always announcements are just the first step, and implementation is where the rubber meets the road. The details will be of importance follow-through is essential and there is much more work on clean energy progress in New York. But today's State of the State for a stronger, healthier in New York is very promising.

This article appeared originally on the NRDC switchboard and was published with permission.

View the original article here

60 Seconds of thinking on 60 minutes the last clean energy bashing vignette

60 Minutes last weekend, listen to I felt, watching a Saturday night live sketch in parallel universes. The bash-fest from Leslie Stahl seemed co-written by the Koch brothers was to lead supporters of climate deniers organisations and interest groups of the keystone XL pipeline.

But in fact clean energy has still never looked better. The 2013 of the REN21 renewables global status report published on 12 June 2013 completed the global demand for renewable energy sources further increased during 2011 and 2012, an estimated 19 percent of global final energy consumption in 2011 (the last year for which data are available), with slightly less than to supply half of traditional biomass. 2012 The second highest year for investment in renewable energy was added to the up to $244 billion (including small hydro power projects). In developing countries with investments topping $132 Tourbillon there was a continuous upward trend.

Wall Street Journal reporter Keith Johnson wrote in his 22 September 2013 "Six myths about renewable energy" article:

It is also important, the extent of the country's renewable efforts. The United States will have the second largest electricity system in the world, accounting for about 20 percent of generation capacity of around the world. Wind power 5 percent of this cake is a great piece. The approximately 60 gigawatt capacity as installed in the whole country Australia or Saudi Arabia, and as much as throughout Mexico amounted to more electricity generation wind power United States. It is about half as much energy as in France or Brazil.

Job creator

On April 18, 2013, the solar Foundation (TSF) announced the release of its State solar jobs map, a Web-based tool that provides each of the 50 States of the first solar jobs numbers. This new State figures build solar on TSFs national census jobs in 2012, but found that the U.S. solar energy industry employs 119.016 Americans and solar employment 13.2 percent compared with the previous year grew, so that one of the fastest growing industries of the country.

According to industry estimates, wind energy employs 75,000 American workers, including workers at plants along the supply chain as well as engineers and construction workers, the construction and operation of wind farms.

An estimated, about 5,200 jobs lived the geothermal energy Association (GEA) directly geothermal power generation and management in 2010.

The bio-fuel industry employs directly over 87.292 Americans in 2012.

The National Hydropower Association reports, "the hydropower industry is currently around 200,000 300,000 jobs, according to a study by Navigant Consulting Inc. And according to the same study, with the right policies the industry could 1.4 million new cumulative direct, indirect and induced jobs full time equivalents (FTE) up to the year 2025."

According to the National Mining Association statistics, coal production has demonstrable benefits, including direct employment of 204.580 people in 2011.

Silicon Beat 60 minutes article mentions that "it is a token throw away line about Tesla Motors, which has more than 6,000 employees and had a fantastic year by any measure." "But nothing in the piece about Agua Caliente, California Valley Ranch or Ivanpah, massive solar projects not only through were solar 1705 financed the DOE program but are up and running." Note that the United States has 1.3 GW concentrated solar either built or is just built.

And Daniel Kessler's article in the Huffington Post saw it so post: "clean-tech is surpassed fossil fuels for the creation of jobs." Check out two projects: the proposed Keystone XL tar sands pipeline and the Ivanpah solar installation in the Mojave. According to the Ministry of Foreign Affairs, Keystone XL will create 50 permanent jobs. This is when the threatening our land, water and air. Ivanpah will employ 2,650 job search and 86 operations and maintenance jobs.

In the 60 minutes piece, host Leslie Stahl claims, "there were not many jobs created. The DOE loan program Office estimates, that their investment created or about 55,000 direct jobs are saved."

View the original article here

Ten clean energy shares for 2014

I've been creating model portfolio of clean energy stocks for 2008. At the beginning it was just a list, but in 2009 I started track it as a model portfolio for a small stockmarket investor. Pretty miserable yields had measured with the exception of last year, clean energy, the shares specified in my sector benchmark at the beginning of each year. I have the power shares WilderHill clean energy ETF (PBW) for all but the first couple of years used. I have before, still with PBW a good measure continues, because it is the most common held sector ETF, and so as the average clean energy investors in the course of the year could do.

As you can see from the table below, more than 12 percent returned 2013 the first year that my model portfolio were not his benchmark... and also the first year of this benchmark test. Last year returned PBW 60 percent 2007 was the year before I started to publish these portfolios.

The diagram shows the following after three and five years (projected). Every three years, are negative for both the benchmark and a little less so for my model portfolios. Under the five-year bond yields is that the model portfolios from 2009 to 2013, even slightly positive on an average annual return of 3 percent per year.

2013 in retrospect

Despite the year 2013 I was disappointed a 25 percent return, that my model portfolio stellar is the benchmark not voted. While the portfolio two shares, which have more than doubled, the portfolio yields were clearly reduces the absorption of calcium (NASD: LIME) and Finavera wind energy (TSX-V: FVR, OTC: FNVRF). These two, along with the worst alternative select RAM power (TSX: RPG, OTC: RAMPF all suffered from specific business setbacks had a large negative impact on its shares due to their small size and lack of internal sources of funding). As I wrote earlier this month, I intend to avoid such companies in this list in the future.

The portfolio was also used by the problems of accounting at Maxwell technologies (NASD: MXWL) held back. While I readers for sale by Maxwell on my blog Forbes with only 2 percent loss at the beginning of March warned, I make the model portfolio as a buying investor would hold and only Maxwell, early April, moved when it was 39 per cent, replacing them with Ameresco (NASD: AMRC). Both stocks later reimbursed, but the lazy swap was a drag on the portfolio performance. Had I swapped the two stocks on March 13, publication of my article on Maxwell, who would be Maxwell/Ameresco combination have won on the day after, 17 percent instead of falling 19 percent and the portfolio as a whole would rise 29 percent instead of 25 percent.

Ten clean energy shares for 2014

My list for 2014 contains a large number of hold overs from the 2013 list, which was not involved in the General growth of the clean energy stocks despite strong views. This year, I present to you my picks in the approximate order of risk, from the fairly safe income shares up to a few deep-value stocks. I also have a high goal includes, two course objectives and a low target to reflect what I would expect, in the worst case happen if everything as planned. Probably far more than half of these stocks between the low and high goals at the end of the year 2014 sink is.

1 Hannon Armstrong sustainable infrastructure (NYSE: HAJ).
Current price: $13.85. Annual yield: 6.4%. Low target: $13. Aim high: $16.
I have extensively sustainable infrastructure REIT since its IPO in the spring of 2013 written Hannon Armstrong. I expect quarterly despite its recent run-up on the news of the $0.22 dividend, the current yield and expected more dividend increases in 2014 will prevent that the share price fall and probably with more appreciation.

2Nd PFB Corporation (TSX: PFB, OTC: PFBOF).
Current price: C$ 4.85. Annual returns: 4.9%. Low target: C$ 4. Aim high: C$ 6.
After 2013, when it paid C$ 1.24 in dividends, but nearly as much stock price gave back, Green Builder PFB returned to the list. This stock is very illiquid, so it's best just to buy or sell property with limit orders. In addition to its distribution have the company buy back active since early December, was.

3. Capstone infrastructure Corp. (TSX: CSE.) OTC: MCQPF).
Current price: C$ 3.55. Annual yield: 8.5%. Low target: C$ 3. Aim high: C$ 5.
Keystone is a Canadian power generators, which are currently at a discount due to lengthy negotiations with the Ontario Power Authority about the renewable power purchase agreement for its biggest plant, a gas CHP plant in Cardinal, Ontario sold. The new Treaty is unlikely, Capstone are favored, but the stock market seems already essentially dividend cut, prices are also a "not terrible" contract the stock rebound could cause. If this is not the case, the current C$ 0.075 quarterly dividend should a majority of the losses even major pessimists when captured.

View the original article here

Earnings Season For 10 Clean Energy Stocks

The third quarter earnings season has been quite eventful for my Ten Clean Energy Stocks for 2013 and six alternative picks model portfolios, so much so that writing about them has taken a back seat to keeping up with the announcements. There were a number of earnings disappointments and earnings announcements which were in line with my expectations but the market treated like disappointments. These resulted in an overall decline of 2.5 percent for the portfolio since the last update, even as my industry benchmarks, the Powershares Wilderhill Clean Energy (PBW) and my small cap benchmark (IWM) were up 1.0 percent and 3.9 percent over the months since October 15th.

Individual Stocks

The only good news came from ground-source heat pump manufacturer Waterfurnace Renewable Energy (TSX:WFI, OTC:WFIFF.) Waterfurnace reported earnings up 51 percent compared the previous-year period. The strong results arose from a large increase in sales to Canada, as that market recovered from the end of a federal incentive program in March 2012. Also benefiting earnings was a decrease in operating expenses due to successful cost reduction efforts in 2012. Analysts at Canaccord Genuity raised their price target for Waterfurnace from C$25 to C$29 in response to the results. Waterfurnace rose 18 percent for the month.

Leading environmental services firm Waste Management (NYSE:WM) also rose significantly, up 10 percent for the month, despite the fact that earnings were in line with analysts' expectations. While I consider Waste Management a long term hold as a reliable dividend stock, I've taken advantage the recent price appreciation to increase my income from the position by selling covered calls.

The market reacted negatively to strong earnings at utility demand-side management contractor Lime Energy (NASD:LIME). The company has been making excellent progress shedding unprofitable business lines and focusing on its utility business, with revenue from continuing operations jumping 55 percent and gross profit up 125 percent compared to the comparable quarter a year ago. Unfortunately, liquidity still remains a significant issue at Lime, despite its September raise of $2.5 million and conversion of debt into preferred stock in September. The liquidity section of Lime's third quarter report states, "While it is possible that our current capital will be sufficient to carry us until we reach profitability, it is also possible that we will need to raise additional capital before our cash flow turns positive and we are able to internally fund our operations."

Investors are most likely selling in anticipation of another round of funding which could further dilute existing shareholders. The company is fortunate to have a number of large shareholders who see the potential of its utility business and have been willing to repeatedly step up to cover its cash needs. Given the strength of its utility business, I anticipate that they will only need to come back for one more round.

Although turnkey Energy Service Company (ESCO) Ameresco, Inc. (NASD:AMRC) continued to grow its backlog at a 15 percent rate compared to the previous quarter, conversion rates continue to disappoint. Last quarter Ameresco’s CEO, George Sakellaris stated that he saw conditions improving, but revenue grew only 9 percent year over year, in large part due to five delayed renewable energy projects and customer delays in both the US and Canada. Historically, it has taken six to 12 months for Ameresco to convert projects in the backlog to revenue.

Although this is the fifth consecutive quarter that Ameresco has missed earnings, I don't think there is anything fundamentally wrong with its business model. Navigant predicts that the energy service business will grow 8 percent next year and reach $8.3 billion by the end of the decade from $4.9 billion this year. Ameresco is already seeing a pick-up in both its revenue and backlog, while rivals such as Johnson Controls (NYSE:JCI) have yet to see improvement. I took the opportunity of the sell off to add to my position.

Kandi Technologies (NASD:KNDI)

Chinese EV and off road vehicle manufacturer Kandi Technologies has been growing its legacy off road vehicle business rapidly, but sales of EVs have yet to take off, with only 494 sold during the quarter. I expect the pace of EV sales to pick up significantly in the fourth quarter. EV sales should be driven by now that China's much-delayed subsidy for "New Energy Vehicles" has been renewed. This seems to favor makers of low-speed electric vehicles like Kandi. The roll-out of a public EV sharing system using Kandi vehicles in the city of Hangzhou should also contribute to EV sales this quarter, as could its joint venture to build EVs with Geely Automotive.

On the other hand, I found the announcement on October 28th that Kandi was purchasing $30.3 million worth of batteries for the roll-out of the Hangzhou public EV sharing system concerning. Under the original agreement, the batteries were to have been supplied by Air Lithium (Lyoyang) Co. Ltd.and paid for by the local utility. The capital-light model of getting others to pay for the most expensive EV component, the battery, was one of the things which attracted me to Kandi in the first place. Now Kandi seems to be buying the batteries itself.
With current liabilities already exceeding current assets by $133 million to $89 million, I would not be surprised if Kandi has to raise more capital soon in order to increase the pace of EV sales significantly.

I still hold the short $10 KNDI calls expiring in December that I mentioned in the last update.

Alterra Power (TSX:AXY, OTC:MGMXF)

Diversified renewable power operator and developer Alterra had a strong quarter, producing a profit of 3 cents a share for the quarter compared to 2 cents for the prior year. More importantly, EBITDA is rising as a result of Alterra's investment program. At C$0.30 a share, the company has an Enterprise Value of only 9-10 times 2013 EBITDA. More mature Canadian power producers trade Enterprise Values of at 15 to 20 times EBITDA. Alterra's low multiple might be understandable if it were unable to cover its debt payments, but these are comfortably below Alterra's free cash flow.

Six Alternative Clean Energy Stocks

In the interest of getting this out in a timely manner, I plan to write a separate follow-up article discussing the results of the stocks in my alternative portfolio.

View the original article here

Q3 portfolio review: a floor for clean energy developers?

Tom Konrad, Contributor
October 09, 2013 |

In the third quarter, clean energy stocks in general continued their upward trend, turning in a 27 percent gain for the quarter and a 64 percent gain for the year as a whole, as measured by my benchmark and most broadly held clean energy ETF, Powershares Wilderhill Clean Energy (PBW.) This brings PBW back up to levels last seen in September 2011.

The broad market and my model portfolio of Ten Clean Energy Stocks for 2013 have also done well. My small cap benchmark (IWM) is up 10 percent for the quarter and 31 percent for the year, while my model portfolio is up 10 percent for the quarter and 21 percent for the year. I am disappointed, however, that my model portfolio now looks virtually certain to under-perform its sector benchmark for the first time since I started writing about in 2007, and the odds don't look good for beating the broad market, either.

Sectors

While some of my under-performance can be attributed to my long-term avoidance of the solar sector and stocks which are household names (which has served me quite well over the last several years,) the poor performance of renewable energy developers and internationally listed companies (mostly in Canada) have also been a significant drag on the model portfolio.

Along with my model portfolio, I also included a list of six alternative picks of clean energy companies I liked, but which I did not include in the main list because I felt they were not as well valued as the others. I intended that readers who were uncomfortable with any of my top ten picks to substitute from this alternative list, instead. For instance, some of my picks are rather illiquid, and so larger investors would be unable to buy them without moving the share price too much. Similarly, readers who were not unwilling or unable to buy stocks which only trade internationally could put together a portfolio of nine U.S.-listed stocks.

The chart above shows what the effects of such substitutions would have been, and also shows the performance of the clean energy sub-sectors (Efficiency, Efficient and Alternative Transportation, and Renewable Energy Developers) that account for at least four stocks among the sixteen.

As you can see, readers who decided to only use the highly liquid stocks from the two portfolios (the "Liquid" portfolio) or the U.S.-Listed stocks (the "Domestic" portfolio) did somewhat better than those who decided to use my ten top picks. This is typical of the early stages of investor interest in a sector: The easy to buy and research stocks advance first and investors become familiar with a new (to them) sector. If investors' renewed interest in clean energy stocks persists, we can expect its effects to spread to less liquid, lesser known, and more esoteric parts of the sector.

You can't get much more esoteric than my collection of small and micro-cap Canadian renewable energy developers with listings on the Toronto Stock Exchange (TSX): Finavera Wind Energy (TSX-V:FVR, OTC:FNVRF), Alterra Power (TSX:AXY, OTC:MGMXF), US Geothermal (NYSE:HTM, TSX:GTH), and Ram Power Group (TSX:RPG, OTC RAMPF). This group declined an average of 22 percent for the year (including the effects of the declining Canadian dollar.) All have operations outside Canada, but only one (US Geothermal) also has has a U.S. listing, and has significantly outperformed the other three. The three TSX-listed developers were down an average of 34 percent for the year, although they were up 1 percent in the 3rd quarter, while US Geothermal is up 16 percent year-to-date, despite having been, in my opinion, less undervalued in January.

I think the enthusiasm for U.S.-listed clean energy stocks is largely driven by the resurgence of solar and other "story" stocks such as Tesla Motors (NASD:TSLA.) Investor enthusiasm for the Tesla story may also deserve credit for some of the strong performance (30 percent for the quarter, 53 percent for the year) of the transportation-related stocks in my portfolio (which does not include Tesla).

Developing a Bottom

I included the four developers in the lists because, at the start of the year, I felt they were all trading at significant discounts to what their assets would fetch on the open market. Most stark of these was Finavera, which had recently reached a deal to sell most of its wind farm developments to Pattern Energy Group (NASD:PEGI). Unfortunately, two of the four wind developments Finavera was planning on selling turned out to be nearly impossible to permit, and then and a few delays shrunk my C$0.80 valuation at the time to just C$0.22, about what the stock was selling for in January. At C$0.13 it's still a good value, but we're unlikely to make a profit on this one.

The news at the other three developers, US Geothermal, Ram Power, and Alterra Power, in contrast, has been better, yet only US Geothermal has advanced. All three have been producing power and positive cash flow, yet can't seem to catch investors' attention. Yet given the current valuations, they don't need investor attention to produce handsome returns from current prices. Including Pattern, there are a number of publicly traded renewable energy power producers would could buy US Geothermal or Ram Power outright and increase their cash flow per share. Given the exercise of Pattern's over-allotment option, the company has over $60 million it can use to purchase renewable energy companies projects.

At Pattern's current price of $23.29, it is trading at a forward dividend yield of 5.4 percent, at the low end of the 5 percent to 8 percent range of the five Canadian Power Producers discussed here. If US Geothermal's distributable income were valued on the same basis, it would be worth $0.66 per share for an 8 percent distributable income yield, based on management's projections for 2013 EBITDA and my interest estimates. Ram is in the process of remediating some of the wells at its San Jacinto-Tizate project, and this seems to be progressing well. When this is complete, the projects should be able to resume distributions to Ram. Hedge fund manager Keubiko valued Ram at $1 per share based on this one project in July.

Alterra is currently generating C$55 to C$60 million in annual EBITDA, and has debt service obligations of C$36 million for the next three years (after which they decline.) That leaves C$20 million of distributable income, or over 4 cents a share, which would lead to a value per share of C$0.54 at 8 percent, or C$0.86 at 5 percent, valuations which assign no value to the company's development projects and rapidly declining debt service in 2017 and beyond. Given the conservative nature of this valuation, I think C$0.86 is closest to Alterrra's true value, despite the fact that the stock is currently trading at C$0.30. Alterra would not need to be bought out to achieve this valuation, all it would need to do would be to start paying a dividend, and get a U.S. stock market listing (as Brookfield Renewable Energy Partners (NYSE:BEP)) recently did.

All three might reach higher valuations than I outlined above by continuing their strategies of developing projects and improving cash flows, but that would likely be a much longer term proposition.

Conclusion

With these developer stocks having stopped declining, and conservative valuations of their assets worth two to six times their current stock prices, I've been adding to my positions in Ram Power and Alterra. Potential buyers are multiplying as renewable energy power producers get access to cheap capital on the U.S. markets, meaning more money will be chasing a limited pool of assets. These under-priced TSX-listed developers should become increasingly attractive acquisition targets for the likes of Patten and Brookfield, which memorably bought Western Wind Energy earlier this year.

While such buyouts take time, an offer or two later this year could do a lot to bring my model portfolio's performance up closer to its benchmarks.

I plan to follow up with a discussion of recent news events affecting the rest of the stocks in my model portfolio soon.

Disclosure: Long FVR, AXY, HTM, RPG, BEP. Short TSLA calls.

DISCLAIMER: Past performance is not a guarantee or a reliable indicator of future results. This article contains the current opinions of the author and such opinions are subject to change without notice. This article has been distributed for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed.

This article was originally published on AltEnergy Stocks and was republished with permission.

View the original article here

Ten U.S. States with the most new clean energy jobs

James Montgomery, co-editor, RenewableEnergyWorld.com
2. September 2013.
New Hampshire, USA-in honor of labor day in the United States, here is a update where clean energy, jobs are popping up. More than 38,000 jobs in the United States stems from five dozen 'clean' energy and transport projects from April to June of this year, overarching power generation, production, transmission/smart grid, energy efficiency and public transport, according to a report by the nonprofit group environmental entrepreneurs (E2) announced. That is the job openings from the first three months of this year (12,000) slightly from the same period a year ago (37.400) and triple rooms.

Vacancies more than in the previous quarter and last year on more than 13,000 in 2Q13, after E2 (the large amount of them are doubled for solar projects) have look only at generating electricity. The big difference is in projects through development and construction to move and come into operation have been. Except for California there is only or in some cases two projects per country. Top 10 list for 2013 never there before was four States in E2s, while one State makes a return.

Each State tracked E2 new vacancies and recent history about various energy-sector publications, media aggregators and online alerts, which pull in corporate statements, reports and public announcements from national, State, and local sources. The Group notes that its data collection should represent the whole national picture, but that several adds sourcing a measure for the vetting and review, in particular at the local level, explains Judith Albert, Managing Director, environmental entrepreneurs (E2). Many of the clean energy positions are strongly weighted construction, by definition a short-term or temporary metric as opposed to operations & maintenance. Albert pointed out, market, however, that the construction is a key figure for US economy and project-related construction and residential solar jobs, in particular some of the effects of the case are crash.

Balance of payments jobs is the new clean energy with all the money, poured into the sector increasing in importance, and how, something of an ideological and political football has become noticed Albert. The U.S. Bureau of Labor Statistics previously compiled "were green and services ' updates, the most diverse industries Cross (critics say too broad), but the program was dismantled in this spring a victim of Federal Government sequestration. Ecotech Institute, Brookings and Pew do similar "clean jobs index" tallies. In response to the Obama administration grand climate change plan this summer that are national resources Defense Council (NDRC) proposed new carbon emission standards, which it claims also add 200,000 jobs.

These efforts are important, what is clean energy & what it means to give the entire economic reality", Albert said. ... Detailed analysis of fisheries, forestry and manufacturing, she pointed it out provided are so why not equal focus on clean energy of jobs? "There's an old saying," she said: "You cannot manage what you don't measure."



View the original article here

Ten clean energy stocks for 2013: first mid-term review

I missed my regular monthly update on my ten clean energy stocks for 2013 model portfolio last month, and many happen in individual companies since. For this reason, I be divided this half-yearly update in two parts. This part will look at the performance of the portfolio as a whole and the reasons why it is lagging the benchmarks. The next part, the performance of specific stocks will look at news.

Since the last update on the 5th of may, my portfolio made progress 3.0 per cent for a 10.5 percent in the first half back. The portfolio continues to however both measured the mass market of small-cap stocks on my scale the iShares Russell 2000 index (IWM) and the outstanding performance of the clean energy stocks, measured on the leading clean energy ETF, the power shares WilderHill clean energy index (PBW) left behind.

IWM inched 2.7 percent total 17.9 percent return, while PBW first half year back scored an extra 13.9 percent total 34.9 percent.

Clean energy boom

Leading clean energy stocks such as Tesla (NASD: TSLA), SolarCity (NASD: SCTY) and other solaren stocks such as first solar (FSLR) have investors attention and production were recently fishing by stellar returns.

The former seem high riding are, because they have put the naysayers in the shadow, through the provision of better than expected. Electric cars such as the Tesla model S may not be big financial investments, but by all reports, they are great cars. The skeptics could could well remind you that much more than total cost of ownership (TCO) of the car purchase is decision. If TCO all car buyers would ever taken into consideration, we would all be driving small business and municipal budget with an SUV would not exist.

The stronger solar stocks such as first solar gains have more to do with the extreme lows, in that in this sector declined in recent years. While excess capacity still threatens the industry has begun to consolidate and module prices, if not increase, have at least finished descent. The company, which is expected to survive the Shake-Out look like are recovered.

Both of these trends have led to a strong rally for clean energy stocks, which as we have not seen since the financial crisis.

Portfolio performance

Along with my model portfolio I also a list of six alternative tips of the clean energy companies, I gladly recorded that, but I do not in the main list contain that, rated because I felt they were not as good as the others. I wanted that readers who were uncomfortable selects ten with one of my top instead these alternatives to replace list. For example my picks are more illiquid, and larger investors would not be able to buy them without the share price too much movement. As well as readers who were not able to buy shares, unwilling or not could the only international trade a nine publicly traded US stock portfolio put together.

The above table shows, what would have been the impact of such replacements, and the performance of its clean energy subsectors (efficiency, efficient and alternative transportation and renewable energy developers) also this account for at least four stocks shows sixteen.

As you can see, a focal point of the most liquid stocks have produced the same half-year return as a model portfolio and a purely domestic portfolio would have performed only slightly better. But as a purely international portfolio quite badly made had driven partially by the 5.6 percent decline of the Canadian dollar: five of six listed shares trade in Canada as Toronto Stock Exchange has a large proportion of clean energy companies all over the world.

The core of the problem was that renewable energy developers: Finavera wind energy (TSX-V: FVR, OTC: FNVRF), Alterra power (TSX: AXY, OTC: MGMXF), US geothermal energy (NYSE: HTM, TSX: GTH), and RAM performance group (TSX: RPG, OTC RAMPF). This group dropped an average 23 percent for the year (including the effects of the declining Canadian dollar), despite a number of positive developments for the individual names. All are trading a a substantial discount to the value of their assets with Alterra and RAM power cash flow positive, and us geothermal profitable on a GAAP basis. Finavera, is now in the possession of its assets for sale and I expect that it the current stock price equal money more than double by the end of next year to have.

A bright spot was the performance of my taking alternative transportation and clean transport. I think less by tailwind of Tesla as individual factors in specific enterprises; I'll have the information in the next part of this update.

Conclusion

I hope that the current has clean energy rally continues. This is the case, I am sure that it will bring my less flashy yet more dust will go out for dinner. On the other hand, if the stock market starts excitement for renewable energy companies continue to spread, perhaps renewable energy developers a bit of fairy dust. I would rather fly and eat a little dust than drown in the mud.

The rally "Falter", or even reverse my picks should relatively better, as they have in the last few years. We hope that this happens not: my last years performance was small consolation for some rather gloomy times in terms of clean energy.

Stay tuned for my summary of the last few months of the individual stock news performance and company.

View the original article here

Is something good buying clean energy stocks?

As someone who helps people invest in green stocks, I can tell you from first hand experience that investor enthusiasm has everything to do with recent financial returns, and not much to do with the good we’re doing.

In 2007, when practically any stock which could be labeled green was going stratospheric, my phone was ringing off the hook. Then came the crash in 2008, with green stocks falling more than the market as a whole. Worse, they failed to participate in the market recovery since then. Green investors are a dedicated lot. Many of my clients worried that the slump might never end, but none left. But the calls from new clients became very few and far between.

Finally, in late 2012, green stocks began to rally. The leading clean energy ETF, PBW, is up 40 percent from its November low. The leading solar ETF, TAN, is up 65 percent from its low.

The phone is ringing again.

Why the Difference?

To judge by the comments from Volt owners, their enthusiasm has a lot to do with the regular thrill they get driving by a gas station without stopping. Whenever they drive, they are reminded that they’re doing good for the environment. This makes them feel good, and that feeling keeps them feeling good about their cars, even without positive financial returns.

A green stock portfolio is different. Few investors make the emotional connection between their green stocks and the success of green companies.

Too Cerebral

Green money managers, in general, are not much help. I asked my panel of thirteen green money managers, ranging from investment advisors to hedge fund managers how buying green stocks helps green companies. Here is a sample of their responses:

Investment advisor Jan Schalkwijk, CFA at JPS Global Investments:

In theory, higher demand for green stocks — to which small investors would contribute by purchasing green stocks, mutual funds, and ETFs — should decrease the cost of capital for these companies, thus improving their ability to expand. Additionally, to the extent that the purchase is funded by a redemption of a non-green stock, this should increase the cost of capital for that company; thus reducing its scope for expansion. However, I don’t think small investors have enough clout to make this theory pan out in reality. It really requires big buy-in from large investors to make a dent.

Solar hedge fund manager Shawn Kravetz at Esplanade Capital:

[T]he small investor is in effect providing capital to the green company and depriving capital of other alternatives. While the green company has already raised the actual capital, the market purchase fuels demand for that sliver of ownership and in essence rewards the green company, making it easier and lower cost for them to raise more capital in the future and thereby spread their greenness. One investor does not move the needle per se, but the sum of multiple such investors indeed does.

That’s all true, but it does not exactly get the heart racing. Schalkwijk, Kravetz and I are immersed in the stock market on a daily basis. To us, moving the price of a stock a smidgen is very real, we do it and see its effects regularly. To the average small investor, however, this logic must seem hopelessly abstract.

Your Money, Direct to Clean Energy Projects

Fortunately, it’s not the whole story.

With the arguments for investing in green stocks so intellectual, it’s no surprise that even the most environmentally minded prospective investors are more interested in last month’s returns.

On Monday, I spoke to John Fullerton is the Founder and President of Capital Institute. The Capital Institute’s mission is to transform finance to effect a more sustainable economy. Its focus is on large institutional investors such as pension funds and endowments, but he agreed to speak with me about my personal focus: small investors.

In general, Fullerton thinks that the focus on trading in the stock market makes it very difficult for the sustainable investor to affect change. But he sees some exceptions. In particular, Master Limited Partnerships (MLPs) and REITs return their cash flows to investors, so they need to conduct secondary offerings (sell shares) whenever they make new investments. Investors in these vehicles are buying the future cash flows derived from the expansion of the enterprise, not just speculating on a future stock price.

At the moment, the MLP structure is limited to depleting resources such as fossil fuels and their transport, and so are not likely to be of interest to green investors. However, the MLP Parity Act, which was designed to correct this imbalance, has been re-introduced in the Senate with bipartisan support. If the act passes, small investors will have the opportunity to invest in publicly traded MLPs which will directly use the money to fund solar, wind, geothermal, and other clean energy projects.

For now, there are two publicly traded REITs investing in clean energy projects. The larger of the two is Hannon Armstrong Sustainable Infrastructure (NYSE:HASI), which went public last month and is investing the proceeds in eight clean energy projects that it had lined up in preparation for the IPO. Since Hannon Armstrong is a leading financier of clean energy projects, investors can be confident that secondary offerings to fund other projects are not too far in the future. By buying and holding HASI, they increase the amount of money the company can raise for new projects with a fixed amount of stock. The profits from those projects will then be returned to the investors as dividends.

With the second clean energy focused REIT, Power REIT (NYSE:PW), the connection between the small investor and the clean energy project they are financing is even more direct. Power REIT has just signed a term sheet for the acquisition of 100 acres of California land underlying approximately 20 MW of to-be-constructed solar projects for $1.6 million. PW will fund that purchase with a combination of debt and equity.

The equity will be raised by the company selling stock through a broker on the New York Stock Exchange under PW’s existing At Market Issuance Sales Agreement. In other words, if you buy the stock today, there is a good chance that the money won’t go to another investor; it will go straight to Power REIT to fund a solar farm. Even new investors who buy from other investors are directly helping by keeping the price up and ensuring that for every share PW sells as much money as possible helps finance the solar farm. Profits from the solar farm will then flow back to Power REIT and be returned to investors as dividends.

Venture Capital

Many small investors wanting to make an impact envy the venture capitalists (VCs) who can fund a start-up green technology company with a better battery or a more efficient wind turbines design.

They should not be jealous. VCs take their cues from the stock market, not the other way around. Without the stock market and the ability to sell a company to ordinary investors in an IPO, the only ways for venture capitalists to get a returns on their investments would be to sell them to other companies, or wait for the start up to generate enough profits to pay them back itself.

Many VC-backed companies are sold to other firms, but this is a second choice option, mostly used when stock market valuations are low. Waiting for a start-up to pay back its initial investors is simply not an option of VCs: the returns take too long. They prefer the money sooner, in five to ten years at most, so they can move on and fund the next promising start-up.

Because VCs count on IPOs for their best returns, they’re much more likely to fund start-ups in sectors with high valuations. When solar stocks are in the stratosphere, VCs fund solar start ups. When Smart Grid stocks are all the rage, VCs will be looking for the next great smart grid technology.

It’s not only First Solar’s (NASD:FSLR) management and shareholders who are paying attention to FSLR’s share price. It’s VCs, and all the entrepreneurs hoping to get those VCs to fund the next breakthrough solar technology.

We’re Invested in More Ways Than One

In addition to pointing out that buying a green company helps its stock price, Shawn Kravetz made another point:

[W]hen people own stocks they tend to patronize and talk about those companies. This vested interest and evangelism, when aggregated, does move the needle.

Fullerton makes a similar point in a recent blog post. He argues that we should understand investment in the context of a holistic decision-making process that seeks to harmonize (not trade off) financial, social, and ecological objectives.

Both are saying that it’s too simple to just look at the effect our investment are having on companies, we also have to consider the effect our investments have on us. People whose retirement depends on the continued profits of a coal companies are much more likely to give those companies a sympathetic ear when they complain that regulations to limit mercury emissions (or any other environmental harm) are too expensive and will undermine their profits.

If we invest in companies that stand to lose from the shift to a sustainable economy, the vested interests we are fighting are our own. Much better to invest ourselves, both financially and emotionally, in companies that will benefit from the changes we know must be made to protect our planet and our children.

Conclusion

Even the smallest investors’ green investments make a difference. This is most direct when they buy the shares of companies in the process of raising money for green investments. Yet they also makes a difference to a company’s ability to reward valuable employees with shares or options, and to the prospects of start-ups in similar industries. Higher prices for green stocks mean more green companies having successful IPOs, and more green start-ups secure funding.

Perhaps most important are the effects owning a slice of a green company has on the investor. It is much easier to make the right decisions for the planet and our future when we know the stocks we own will benefit from those decisions as well.

When green investors understand the very real changes their investments are having on the world, perhaps they’ll love their portfolios as well, like Volt owners love their cars.

Disclosure: HASI, PW

View the original article here

Obama Congress over $2 billion to clean energy of Research Fund press

Obama will challenge the Congress today to the Argonne National Laboratory in Lemont, Illinois, a post the Energy Ministry largest laboratories for scientific and technical research. The so-called energy security trust would be financed over 10 years of State fees on offshore oil and gas drilling, according to the Feds, not identified before the President's speech.The trust reliable resources for the research would offer concentrated on transportation alternatives, said an official yesterday in a briefing with reporters.
The plan last month in the State of the Union address described the Obama, would not need to drill offshore areas open. Revenue for the trust would come from accelerating the approval permits for oil and gas producers to increase production and the increase of income from royalties, lease sales and bonus offers.

Congress has considered similar proposals in the past. In 2009, now House Speaker John Boehner of Ohio's Republicans led an energy that rent money would have directed to the oil business and gas sales pay for clean energy programs Bill was counter to a climate change legislation Democrats push.
Murkowski plan

Another plan by Alaska Senator Lisa Murkowski, top Republican on the Committee revenue energy would be offered by holes on countries that are now banned, such as the Arctic National Wildlife Refuge in Alaska. The White House official said that Obama's proposal would open the refuge to study do not.
The energy fund basic research would be dedicated to, which is to assume a permanent job to the private sector, the official said. Laid the groundwork for hydraulic fracturing, a hole was revolutionized technology, the gas and oil production, decades ago by Government-funded research, the officials said.

While trust will focus on traffic, it is supporting research in a wide variety of fuels and technologies, the officials said.
After posting mixed results of what some critics said energized environmental groups with a promise were for environmental issues in his first term of the President in his inaugural speech this year "Response to the threat of climate change." The energy fund management services would use, which have reduced oil imports and reduced greenhouse gas emissions, the White House official said.

Development of energy and mineral mining lands on United States and off the coast raised about $12 billion for State and Federal Government in the fiscal year 2012, according to Office of natural resources one revenue Division of the Interior Department. That was about $1 billion, more than to be progress in the previous year because more access hydraulic Division of oil and gas producers are found in shale rock formations.
Copyright 2013 Bloomberg

View the original article here

Stricter emission limits rules spur clean energy innovation

"Set by these standards, will be business opportunities that will be created, it" Browner said yesterday in an interview with Bloomberg television's Peter Cook for "Capitol gains" Feb. air 10.

"There are companies that can develop new technologies," she said. "Maybe we will investigate more about renewable energy. We seek to improve energy efficiency."

President Barack Obama said in his second term inaugural address, that he responds, referring to droughts and stronger hurricanes, set up a possible conflict on threats posed by climate change, with owners of coal-fired plants including Southern Co. of Atlanta and American Electric Power Co. of Columbus, Ohio.

Browner, a former adviser to Obama, said that the Administration in addition proposes that the EPA for new installations will propose rules to emissions from existing plants to the rules.

The Supreme Court ruled that the Agency had to act, if the emissions were found to "endanger public health and welfare", said Browner. "EPA this scientific statement made, so now they have to do this."

Existing installations

When the EPA imposed the same requirements for existing plants for new plants, "about 25 percent of the gas plants, carried out in the country, that standard would meet not" drawn Institute, an industry-based Washington Group for publicly traded utilities are, Thomas Kuhn, President of Edison Electric, said during a Feb. 6 interview at Bloomberg headquarters in New York.

In response to a question, Browner said, it remains to be seen whether the rules, companies will force to develop gas-trapping technology in response.

The Obama administration is considering action on an array of other energy issues, including the control of hydraulic fracturing, or fracking extracts gas from shale and possible export of liquefied natural gas over objections from manufacturers such as Dow Chemical Co.

"The games-changer is natural gas," said Browner, is a member of the Advisory Board of the Bloomberg administration. "The question is, what natural gas for coal, and ultimately on renewable energy and efficiency as we will go forward."

Gas-glut

Advances in drilling in shale formations have produced a glut of natural gas. Futures prices for the fuel on the New York Mercantile Exchange since July 2008's leading investment in natural gas at the expense of other forms of generation including coal and nuclear energy 75 percent declined.

Hydraulic split, led to regulate the EPA, though the "probably not likely", said Browner the Agency from 1993 to 2001 under President Bill Clinton. If you leave the task to the States, as proposed by Republicans such as representative of John diplomat from Illinois, "We go to a variety of needs, to see which will quite frankly be hard on industry," said she.

In the first four years, loan guarantees for wind and solar-energy projects exhibited the Obama administration and increased standards for cars in addition to write rules for power plants.

"We have a real opportunity to position the United States in the global demand for clean energy technology," said Browner.

Copyright 2013 Bloomberg

View the original article here

Shift to a higher gear clean energy new training guarantees aligned with jobs

Welcome you at the confusing and somewhat chaotic world of credentialing! In the past month result a marathon undertaking, the Interstate Council for renewable energy (IREC) two national milestones in our commitment to the credentialing in renewable energy and energy efficiency. Our goal - standardized quality training with employer demand - training results that result in marketable professional skills matched.

Together, these services offer new guarantees for consumers of energy, industry, students, and Government. We released IRECs new standard for training programs that offer certificates in the renewable energy and energy efficiency space, and we started the accreditation program, together with our partner of the American National Standards Institute (ANSI) to demonstrate compliance with these requirements.

After 24 months of working with a vocal and balanced Committee of experts; ask the public for three rounds of comments on the standard; Development of a rating system with ANSI through holes up on several elements required; keep a pilot study; and clarifying definitions - we now use a standard and an accreditation process exists. We were damn sure that this epic effort had the highest priority value in building a working with training for safety and quality. We not afraid, for one minute. We enjoyed the lively discussions. We added the tedious details in attack. And we pushed the envelope further. Here is the reason.

Growth in the area see clean energy we sometimes not so quickly, like us, but in any case growth would like. Grid tied photovoltaic systems continue their rise, as U.S. wind capacity does. Expected doubling is spending on energy efficiency programs in the next 12 years. All of this leads to more employment. We have a lot of training around tuned for industry needed skills and some not-so-good training leading country - a good education to unclear learning outcomes. We still facing the misrepresentation certificates as a mark of professional certification. There is a lack of consistency and a variety of confusion.

IREC 14732 training standard offers a clear way through this confusion by laying down the rules for the program management, educational processes (instructional design and evaluation) and technical content (skills and knowledge taught), with the result, leading to a market value of certificate.

What is the market value? Spent hours discussing this. Basically, we want to see someone who has gone through the training learned marketable and job-related skills. If you go through training, and provide you with a "Go to certificate" has to mean something. A certificate of attendance cut not when we are talking about job readiness and market value. IREC standard 14732 and the ANSI-IREC accreditation program is a step up from IRECs ISPQ 01022 standard and regulation. This new standard and assessment that process that offer IREC ISPQ program does and much more. Both credentials are a hard-earned seal of approval by a third party, but to further raised the bar with this next chapter in IRECs commitment to quality assurance.

For more information about IRECs, visit unique credentialing program that accredited educational institutions and certified instructor in the renewable energy and energy efficiency fields, www.irecusa.org.

Written by the annual workforce development Institute Conference / American Association of community colleges

View the original article here

Why did Boulder-buy-out energy utilities for a clean energy future

End 2011 tuned, citizen of Boulder, CO, boats their established power company Xcel Energy and form to explore an electric public utilities. It clean, was the culmination of a multi-year struggle for more to get local energy from their companies electric high Commander. At the end of town agreed politicians such as citizens, that significantly reduce the only credible option for their contribution to climate change, to go alone. Now, the city of the long and complicated process of localization is initiated from their current system.

Susan Osborne was the Mayor of Boulder at the time of the climatic vote, and she came to Minneapolis (with a similar campaign for local energy) in September 2012, to share her story. This 4-minute video gives the overview:

This post originally appeared on ILSRs self-reliant energy status blog.

View the original article here

Developers will invest in next five years 1.9 trillion into clean energy.

NEW York-developers and financiers invested $1.9 trillion build clean energy power plants worldwide from 2012 to 2018 as demand for electricity rises, according to the Pew Charitable trusts.

Development costs for solar and wind farms and other types of renewable energy assets rising to $327 billion in 2018 by about $200 billion in the last year, according to a report, which is now published on the Bank's website.

These numbers can increase even more if Governments to create national energy policy, contain the obligations for renewables, Phyllis Cuttino, Director of Pew said clean energy program in Washington, yesterday in a telephone interview. The incentives should give duration defined clarity of the industry.

The "political role", she said. "You've got to have a renewable energies target or a standard. Or something in the tax code. Or to remove market obstacles. There are several guidelines that you can use to get there, but you have to do something. You can have not only no national energy policy."
Global energy consumption is expected to increase by 47 percent by 2010 to 2035 and investments in the renewable energy industry can $5.9 trillion in the same period the Pike research LLC was prepared according to the report, approach.

"" "" Said industry has clearly given us, "what we need is we need to have certainty," said Cuttino. "It was an unequal playing field, tilted in favor of established technologies. And we need to get over the hump."

View the original article here

Clean tech Accelerator means new ideas for global renewable energy applications

San Jose--scores of clean-tech company of CEOs, built their leading ideas of seed capital angels and venture capitalists this year's clean tech open 2012 global forum in San Jose, California. On the occasion of the Hayes mansion on November 8 and 9, the meeting is the culmination of numerous regional competitions of the organization that has helped more than 600 companies that raise more than $660 million financing since 2006. After 10 minutes business plan pitch over a thousand participants belongs were finalists by a jury for hundreds of thousands of competing demand, if not millions of dollars in capital to start.

The business fields of the competing companies include renewable energy, the environment and the economy in General. Among renewable energy, finalists were companies to improve the efficiency of solar cells this year, offer residential wind and solar plants to marry, and provides overpressure in the water tap for energy distribution systems. 2012 Clean tech global forum winner was HVET from Chicago, won $250,000 in financing and services. Motor/generators with increased reliability and disruptive cost his patented switched reluctance motors offer high-performance alternatives to the induction and permanent magnet, so the company. The product is an electric assist, bicycles provide rolled out but other versions interfere with current engine technology by about 150 watts to one megawatt and also from applications such as air conditioning, oil and gas pumps, they add.

Runner up to 2012 title was Rentricity of New York, a system of excess water pressure water distribution systems in electricity to convert that, offered by bypassing existing pressure relief valves with new back-pumping generators. CEO of the Frank Zammataro said that the micro-hydro system already has been detected in the tube, within what estimates in four commercial projects $2.4 billion U.S. market has 23,000 potential locations for the implantation of the technology. The company has partnered with xylem, to produce the reverse pump, and seeks first the 5 to 30 kW segment of the market. Rentricity claims that he can install his system at a price of US $0.04 per kWh. The company is looking for funds to expand their sales activities and partners with leading industry - water companies, the latest generation to develop water system upgrading.

Finalist Malachite Technologies Inc., San Francisco, suggested the idea of using sputtering deposition technology a 1 µm to thick layer of gallium arsenide on a conventional silicon chip, the efficiency of the resulting array together increase by 33 percent. CEO Robert Weiss added that once the chip its current consolidation wave undergoes processing industry, survival rivals an edge of efficiency, should that his company could offer within two or three years. The company is looking for funding for the proof of concept data.

Another finalist, Pika energy, Gorham, Maine, unveiled a new design wind turbine applications at a price of $8,000, about one-third of the cost which beat current leader, Ben Polito, CEO of the start-up. Reduce the cost by making an injection Pika composite design can be dipped fan, motor cooling, the mass in contrast to the layered, which is standard in the industry today. The company developed also a mechanical safety brake for its turbine and a makes-inverter system, which a Pika-wind turbine can be combined with a generic solar photovoltaic system. The company is looking for funds to the sound to start mass business.

Apart from the finalists in their technology under a large tent showed pitched dozens of other clean-tech start-ups companies, the financing by the judging Committee in the courtyard of the Villa. Target markets ranged movement space heating from solar systems on tidal power on motorway.

Sun edge LLC, of Wilmington, a water-filled solar concentrator system presented the four is located in a closed polycarbonate tubes, time can result in normal solar energy with the addition of only 25 percent more PV materials. David President of the company Argentar said that the cost of the patent pending system is one-third of the yield comparable technologies. With a 10-MW demonstration plant scheduled for completion this year in Dover, Delaware SunEdge is looking for financing of commercial production.

Elemental, tidal-energy unit, which captures the flow of water through a turbine to generate electricity energy technologies, from Sydney, touted their sea urchin. While initial installations, barge and catamaran aimed applications, so nearby Darwin until end of 2013 a pilot 1-MW array installed Finance Director Douglas will hunt. When arrays are attached with shared cable, the turbines can power AU costs $0.10 to 0.12 per kWh (US $0, 10-0, 12), produce, he said.

Finally, captures the energy intelligence LLC, of WABAN, Massachusetts, presented its substructure Highway motion generation system which generate weight a moving tire through a plate activation energy. The location of the system would be likely, where vehicles are already forced to slow down and power sockets are available, such as the approach for a toll station. Awarded a patent and two outstanding will the system provide projected levelized cost energy between US $.055 and $0.07 / kWh, according to Daniel Shani, CEO of the company. Clean tech open the firm received $20,000 in New England regional competition in October.

View the original article here

Georgia Leading the Charge for the Clean Economy in the Southeast

This post was written in collaboration with Ben Taube, BLT Sustainable Energy, Inc.

In California it’s San Francisco. In New England, it’s Boston. Now, 2012 is proving that Georgia is rising as the cleantech epicenter of the South. This year we witnessed IKEA flip the switch on two large scale solar installations and Quality Technology Services announce a more than $1 million investment in solar for their Atlanta and Richmond data centers. Meanwhile, Georgia Solar Utilities emerged to propose building 90MWs of solar in Georgia, and selling it to Georgia Power, which itself has a 50 MW solar initiative.

Lehigh Technologies based in Tucker recently raised $5 million in an investment for their method of recycling post-industrial rubber into new materials. GenAgain Technologies set up shop in Lithia Springs to convert mixed waste plastics into synthetic crude oil. If that’s not all, Savannah Technical College started offering new sustainable technology programs, this year, a first of their kind in Georgia.

Another first in Georgia is the Savannah International Clean Energy Conference (Nov 11-13). It will play host to a prominent line-up of over 50 global cleantech speakers and an estimated 300 international clean economy executives. VIP speakers and participants like Governor Nathan Deal, U.S. Senator Johnny Isakson, Savannah Mayor Edna Branch Jackson, AGL Resources CEO John W. Somerhalder II and Southern Company executives will all have an unprecedented opportunity to highlight the Georgia’s sustainable accomplishments and the state’s potential to become a major clean economy marketplace for both local and international companies.

The Georgian clean economy 2012 accomplishments are just the tip of the iceberg. Even during the worst parts of the Great Recession, clean economy jobs grew at a rate of 3.7 percent. Today they total over 83,000 jobs, more than 2 percent of Georgia’s total workforce. However, if Georgia is to lead the Southeast in green jobs, more must be done to ensure that companies and jobs flourish and stay in Georgia.

Supporting the clean economy starts at the early-stage, and the “godfather of Atlanta angel investing” Sig Moseley co-founded CTW Venture Partners this year to fill what he and his partners see as a critical shortage in the Southeast of seed and early-stage capital. Standing for “Change The World” cleantech is one of the firm’s investment focuses.

With or without seed funding, companies still need business support and Georgia Tech has been doing an excellent job incubating and commercializing new innovations coming out of its incubation programs. Additionally, the Global Cleantech Cluster Association is fostering early and later stage companies locally and around the world, by networking together over 40 of the world’s leading cleantech clusters. Headquartered in Atlanta, the GCCA provides a gateway for established and emerging cleantech companies to gain exposure to potential investors, new markets, influential networks, innovative technologies and best practices. The group’s annual Later Stage Awards with over 200 global companies competing for 10 winning spots, sponsored by Deloitte and McGuire Woods, will be presented at the Savannah International Clean Energy Conference on November 12th.
Once established, clean and green companies thrive in Georgia. The state is home to a growing number of international solar companies including Suniva, Mage Solar and the solar mounting firm Renusol. Biomass is also winning here, as the state was listed as third in the nation in 2011 for energy generated by this alternative fuel source.

However, to truly rival Boston or San Francisco for cleantech status, the state must get serious about the four critical policies identified by The Pew Charitable Trusts that support a state’s clean economy. Currently, Georgia offers one them, financial incentives, which is an excellent start. The state should also encourage clean economic development by assessing policy options such as a renewable portfolio standard, energy efficiency resource standards, and options to allow for power purchase agreements. Of our 50 states, 30 have mandated renewable energy standards and 7 offer voluntary goals. In the Southeast, North Carolina mandates a clean energy goal.

According to the report “Sizing the Clean Economy” by the Brookings Institution, the clean economy added more than half a million jobs, between 2003 and 2010, nationally. Georgia is well on it’s way to solidifying it’s strong hold in the Southeast as a cleantech leader. But it can only capture that title, through diligent public policy and building momentum by consistently sharing its variety of success stories with the world. At the Savannah Clean Energy Conference, Governor Deal and others have a pivotal opportunity to impress on the international audience the strength of Georgia’s clean economy and its reliable potential for successful cleantech profitability in the 21st Century.

View the original article here

United States' Clean Energy Patents Soar, Report Indicates

The number of clean energy U.S. patents granted in a quarter has reached a new high in the second quarter of 2012, according to the Clean Energy Patent Growth Index. The 786 patents topped the first quarter total of 694, making it the highest tally in any quarter since the firm of Heslin Rothenberg Farley & Mesiti P.C. began tracking clean energy patents in 2002.

The categories monitored are: solar and wind energy; hybrid and electric vehicles (EV); fuel cells; hydroelectric, tidal, and wave power; geothermal energy; biomass and biofuels; and other renewable energy. The most patents (264) were granted for fuel cells, followed by solar (188) and wind (187). Among those granted patents, Toyota topped the list with 46, mainly in fuel cells and EVs. It was followed by GE with 43, mostly wind energy patents, and General Motors with 30 patents concentrated in fuel cells and vehicles. See the Clean Energy Patent Growth Index press release.

View the original article here