Ohio enacts tough renewable law
Ohio now becomes the 26th state, including California, New York and Texas, to adopt renewable energy portfolio standards (RPS) - tough new laws which are creating one of the most dramatic shifts in the delivery of energy to American consumers ever.
Dozens of planned coal, natural gas and diesel-fired power plants have been cancelled across the country. Instead, 60-gigawatts of wind and solar power (enough energy to serve 20 million American homes) will be constructed, according to a new study by the Lawrence Berkeley National Laboratory.
Not surprisingly, wind and solar companies are enjoying record growth. Solar wafer maker ReneSola and photovoltaic company Yingli Green Energy both received upgrades from analysts at Piper Jaffray recently.
But as busy as the solar companies are wind is America's renewable energy of choice. Last year the wind industry installed an astonishing 5244-megawatts of new wind power outpacing solar's 254-megawatts by 20-1. The American Wind Energy Association estimates Ohio's new RPS law on its own will result in at least $10 billion of new wind energy project investments.
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Manitoba looking to raise electricity rates 2.5 per cent each year for 3 years
WINNIPEG - The Manitoba government is planning to raise electricity rates by 2.5 per cent a year over the next three years.
Finance Minister Scott Fielding says the increases, to be presented in a bill before the legislature, are the lowest in a decade and will help keep rates among the lowest in Canada.
Crown-owned Manitoba Hydro had asked for a 3.5 per cent increase this year to help pay off billions of dollars in debt.
“The way we figured this out, we looked at the rate increases that were approved by PUB (Public Utilities Board) over the last ten years, (and) we…
