Mitsubishi, Subaru Launch EVs in Japan
Prices for Oil, Gas Escalating
Worldwide Clean Energy Investments on the Upswing
DOE Awards $80.56M in Weatherization Funds to 4 States
U.S. Small Wind Market Grew 78% in 2008
Solar Decathlon: October 9-18 on the National Mall
Federal Regulators, Washington State Collaborate on Water Power
Mitsubishi and Subaru Launch Electric Cars in Japan
Mitsubishi Motors Corp and Fuji Heavy Industries, Inc. (FHI), the maker of Subaru automobiles, both announced last week that they will soon begin selling electric vehicles (EVs) in Japan. Mitsubishi unveiled the production version of its i-MiEV, a mini-car with a lithium-ion battery pack tucked under the floor. The vehicle has a range of about 100 miles, and it can be quick-charged in about 30 minutes. A 47-kilowatt motor drives the wheels via a single-speed reduction gear transmission, an approach similar to that used in the high-end Tesla Roadster.
Mitsubishi plans to lease about 1,400 of the vehicles to corporations and local authorities this year, with sales to individuals starting in April 2010. The company will start taking orders for the vehicle in late July. The vehicle will sell for 4.38 million yen, or about $44,860, including a tax exemption of about $2,240. The vehicle will also qualify for a rebate of up to $14,200, which would lower the price to $30,660. See the Mitsubishi Motors press release and the i-MiEV Web site.
Meanwhile, FHI launched its Subaru Plug-in Stella EV, also a mini-car equipped with a lithium-ion battery pack. The vehicle has a much shorter range of 56 miles, but it actually costs more than the i-MiEV, at 4.725 million yen, or about $48,200, including consumption taxes, which will probably be exempted. It will qualify for a rebate of up to $14,100, bringing the price down to $34,100. The vehicle is much like the i-MiEV, with a 47-kilowatt motor and a quick-charge capability, but the two-door mini-car has a boxy shape. FHI plans to start delivery in late July and plans to sell 170 vehicles by March 2010. See the FHI press release (PDF 44 KB).
Prices for Oil and Gasoline are Escalating, Says EIA
Oil prices rose for the third consecutive month in May, and prices for gasoline and diesel fuel are also going up, according to DOE's Energy Information Administration (EIA). The EIA's "Short-Term Energy Outlook," released on Tuesday, blames rising oil prices on expectations for an economic recovery and future increases in oil consumption, as well as a weaker dollar.
Crude oil prices are expected to average $67 per barrel for the second half of the year, compared to about $51 per barrel in the first half. Meanwhile, the average U.S. price for regular-grade gasoline reached $2.62 per gallon on Monday, almost 60 cents per gallon higher than the average price at the end of April. That led the EIA to boost its projections for gasoline prices, increasing the projected average for this year to $2.33 per gallon, a 21-cent increase above last month's projection. The EIA also increased its diesel fuel price projection for 2009 by 14 cents, to $2.40 per gallon on average for this year. See the EIA's "Short-Term Energy Outlook."
Report: Worldwide Clean Energy Investments on the Upswing
After a difficult first quarter, worldwide investments in clean energy are now gaining momentum, according to analysts at New Energy Finance. Clean energy investments in the first quarter of 2009 were down 44% from the fourth quarter of 2008 and down 53% from the investment peak in the first quarter of 2008.
Even though there are several weeks left in the second quarter, clean energy investments are already surpassing the first quarter investments by more than a third. New Energy Finance notes that public market investments have rallied sharply, while bankers active in the clean energy sector are optimistic about a gradual improvement in the availability of project financing as the year progresses. The gradual injection of worldwide "green stimulus" funds, including funds from the American Reinvestment and Recovery Act, are also expected to assist the recovery.
