EERE Network News
February 06, 2008
News and Events
President Bush's proposed fiscal year 2009 budget for the DOE Office of Energy Efficiency and Renewable Energy (EERE) boosts funding for geothermal energy by 51% and provides a 13.5% increase for biomass and biorefinery systems and for energy efficient building technologies.
The fiscal year 2007 authorization of funds for the Department of Defense (DoD) and related programs allows the DoD to enter long-term contracts for green power and requires the transition to energy efficient lighting at all DoD facilities.
DOE and the National Marine Sanctuary Program (NMSP) signed a Memorandum of Undersatnding to increase the energy efficiency of NMSP's national marine sanctuaries. DOE will initially conduct energy audits at the sanctuaries in Kihei, Hawaii; Key West, Flordia; and Scituate, Massachusetts.
The California Public Utilities Commission has amended a program that rewards the state's utilities for implementing successful energy efficiency programs. The amendment removes potential penalties that were discouraging utilities from taking advantage of the program.
With 5.2 gigawatts of new wind capacity installed in 2007, the United States is currently the largest market for wind power, but Spain and China are now nipping at its heels. The growing worldwide market for wind power increased 27% in 2007, boosting global installed wind capacity to 94 gigawatts.
Worldwide investors provided $54.5 billion in 2007 to build wind farms, biorefineries, solar power plants, and other clean energy facilities, while the total global investment in clean energy grew to $117.2 billion. But to meet current targets, investments will have to triple over the next five years.
Citigroup, JP Morgan Chase, and Morgan Stanley aren't quite ready to stop providing financing for coal plants, but for utilities wishing to pursue such projects, the banks will now be taking a close look at the utilities' use of energy efficiency, renewable energy, and low-carbon distributed energy options.