Green Options » carbon caps

European Union to Stick to Tough Climate Targets

Timothy B. Hurst — Thu, 16 Oct 2008 21:58:26 +0000

Leaders vow to maintain targets amid economic and political pressure from some member states to do otherwise.

On Thursday, European heads of state meeting in Brussels decided to stick to previously set climate action targets despite pressure from several member states to loosen the December target, which aims to reduce greenhouse gas emissions by 20 percent by 2020.

Last week, a Polish-led group of eight poorer EU member states threatened to block any resolution that kept the existing targets in place, siting the current economic downturn and market turmoil as the primary obstacle.

>>More on European energy and environmental policy at RG&B

Will EU Member States Use Economic Crisis to Weasel out of Climate Targets?

Timothy B. Hurst — Sat, 11 Oct 2008 21:48:56 +0000

Leaders of some EU countries may use the global financial crisis as an excuse to back out of climate change commitments, according to sources close to the ongoing energy negotiations The Guardian reports that the EU council, which meets next week, will propose dropping the previous commitment to an automatic increase in emissions cuts if the world gets a major climate change agreement next year in Copenhagen - which is a big “if.”

The current EU target of a 20% reduction in emissions by 2020 is set to automatically increase to 30% if a global deal is signed. But apparently, EU is seeking a completely new legislative process if the EU target is to go over 20%.

Big Money Bets Solar Cheaper than Coal by 2020

Carol Gulyas — Wed, 28 May 2008 15:25:27 +0000

The planets may be aligned to finally make solar competitive with coal, according to an article in Bloomberg.com by Greg Chang. Rising natural gas prices, the extension of tax credits for solar investment, and the near-certainty that carbon emissions caps will be imposed by the next U.S. administration, will make it happen. A concentrated solar thermal plant in California’s Mojave Desert, run by FPL, Inc., uses 550,000 mirrors to concentrate solar power.

“At noon on a typical workday, technicians in a two-story control room monitor a dozen screens showing the heat generated by each array of mirrors. As temperatures creep past 700 degrees, icons blink to red from green, indicating the center is ready to feed electricity to the California grid.”

The resulting steam turns turbines that generate electricity — enough to power 112,55 L.A.-area homes. Concentrated solar thermal’s potential has not escaped the attention of forward-thinking investors with big money:

“Chevron, Goldman Sachs, FPL, PG&E and other companies have filed more than 50 applications with the Bureau of Land Management to lease government-owned desert property for solar power systems. Google’s philantropic division put $10 million into eSolar, a start-up in Pasadena, California.” –Greg Chang, Bloomberg.com