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Morgan Stanley, Deutsche Bank Call Green Business $1 Trillion Mega-Market

Morgan Stanley calls the blossoming green business market as a $1 trillion market, while Deutsche Bank calls it a Mega-Market. Both firms see the coming investments to tackle climate change as a market as huge. Policies being shaped now by governments around the world, population growth and spiking fuel prices, along with reduced costs for clean energy are creating this mammoth investment opportunity that should even tempt the skeptics of climate change. Morgan Stanley sees clean energy sales growing to an estimated $1 trillion a year by 2030 – the U.S. gross domestic product was $13.2 trillion last year. The bank projects that solar will grow from practically zero in market penetration in 2005 to 11.2% in 2030. Wind could grow from 0.9% to 9.6%, and biofuels could grow from 1% in 2005 to 21% during that time period. Deutsche Bank has brought $8.5 billion into climate change funds that invest in companies/projects in the sector, including clean energy, energy efficiency, sustainable agriculture and construction. Morgan Stanley plans to invest $3 billion in this market over the next five years.

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First 100% Biodiesel Electric Plant Opens

The first commercial electric plant to be solely powered by renewable energy has started operations in Conroe, Texas. The plant runs on 100% biodiesel. Safe Renewables supplies the biodiesel fuel to the plant, which is owned and operated by Biofuels Power Corp. It will supply 10 MW of electricity to the grid. Safe Renewables’ poultry fat feedstock is sourced mostly from large poultry processing operations in Texas. It’s providing up to a million gallons per month of B100 biodiesel.

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Xcel is First to Use Soy Oil in Transformers

Xcel Energy (NYSE: XEL) announced it will be the first major utility to use soy oil in all new transformers beginning in 2008. All new transformers in communities throughout its 8-state service territory (3.3 million electricity customers) will use 100% soy oil. It will be used in all new single-phase pole- and pad-mounted transformers for residential and some light commercial applications. Xcel Energy currently uses petroleum-based mineral oil, which is the industry standard. The company says the transition to domestic soy oil will support the economy and increase the nation’s energy independence. The technology has already been used in residential and smaller-scale commercial applications, including hospitals. Currently, more than 50,000 Envirotemp FR3 fluid-filled transformers are in service across the country.

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EPA, DOE Release Fuel Economy Lists for 2008 Vehicles

The U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE) have released the 2008 Fuel Economy Guide to help people make well-informed choices when purchasing new vehicles. Hybrid vehicles continue to lead the government’s fuel economy ratings – the Toyota Prius tops the list at 48 mpg city and 45 mpg highway. Fuel economy estimates, which appear on the window stickers of all new cars and light trucks prior to sale, are determined by tests that manufacturers and EPA conduct according to EPA specifications. This year’s label values are based on new test methods EPA finalized in December 2006. The new methods are designed to better account for actual driving conditions that can lower fuel economy, such as higher speed driving, use of air conditioning and cold weather operation. Because of the new methods, fuel economy estimates for all vehicles will generally be lower than those of last year. To view the 2008 Fuel economy guide and for tips on increasing vehicle efficiency: http://www.fueleconomy.gov The joint DOE-EPA Fuel Economy Web site, http://www.fueleconomy.gov , offers detailed information on vehicle fuel economy, including a complete downloadable version of the Fuel Economy Guide. Comprehensive information about EPA’s Fuel Economy program: […]

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GridPoint Raises $48.5 Million in Series D

GridPoint, Inc., a company developing smart grid platforms, closed a $48.5 million Series D financing led by Goldman Sachs Group (NYSE:GS)and Susquehanna Private Equity Investments, an affiliate of Susquehanna International Group. It also announced the appointment of new members to its board of directors, including the CTO of Duke Energy and the CEO of US Power Generating Company. New GridPoint shareholders include New Enterprise Associates, Perella Weinberg Partners, and Robeco, a subsidiary of Rabobank Group. Since the company’s inception in November 2003, GridPoint has raised $88 million in equity capital. “This significant financing demonstrates investor confidence in building an intelligent electric grid that integrates distributed clean technologies,” said Peter L. Corsell, President and CEO of GridPoint. “Just as the Internet forever changed communication and commerce, the Smart Grid will revolutionize the delivery and consumption of electric power.” GridPoint is the pioneer of an innovative smart grid platform that aligns the interests of electric utilities, consumers and the environment. The platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed resources (e.g., advanced load control devices, batteries, solar systems) that reside at the point of consumption – the home or business. Additionally, the platform’s […]

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