Welcome to the Green Chip Review Weekend Edition — our insights from the week in everything alternative and cleantech, as well as links to our most-read Green Chip Review and sister publication articles.
As the market reached a 12-month high this week, cleantech stocks were certainly pulling their weight.
Smart grid, solar, and geothermal plays were all making moves this week. Take a look:
While an improvement in key economic indicators is a large reason for the broad rise, there were also some sector-specific headlines that served as cleantech profit catalysts this week.
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Over $800 million in stimulus dollars were allocated this week by the Department of Energy; $454 million will be spent on a "Retrofit Ramp-Up" that will pioneer different models for rolling out energy efficiency plans across the country. Another $354 million is being awarded to 22 states to directly support energy efficiency and conservation activities.
In California, the Governator signed an executive order calling for the state to get 33% of its energy from renewables by 2020. His order also made it easier for clean power to be purchased from out-of-state sources and cut some of the red tape holding back large solar thermal plants.
On the same day, independent researcher iSuppli announced the Golden State as on pace to double solar power in 2009. They also found installations would increase another 68% in 2010, while the global forecast is for a 54% increase.
Perhaps feeling neglected, the wind industry also got a boost this week when the world's largest offshore wind farm went online off the coast of Denmark. The 209 MW Horns Rev 2 wind farm was built by DONG Energy for $694 million and uses 91 Siemens (NYSE: SI) turbines.
And finally, there was even heat building in the geothermal arena this week. U.S. Geothermal (AMEX: HTM) finalized a $7.39 grant from the DoE to further their Raft River Enhanced Geothermal System. And Nevada Geothermal (OTCBB: NGLPF) announced they completed their 49.5 MW Faulkner 1 plant three months ahead of schedule.
Both stocks are enjoying nice uptrends.
Indeed, there was positive news on all fronts this week. I hope that translated into some nice gains for your portfolio.
Call it like you see it,
Nick
P.S. In case you've missed any of the recent top stories from Green Chip Review and our companion publications, we've included them below.
California Renewable Energy: The Governator Gets the Veto Pen
Energy & Capital Editor Nick Hodge discusses California renewable energy as related legislation makes waves in the news.
$100 Billion Up for Grabs: Smart Profits from the Smart Grid
As America's electric infrastructure is on the verge of collapse, there are literally billions of dollars out there for those who are developing and investing in Smart Grid technology right now. We'll tell you about three plays in the Smart Grid and how you can profit from the end of electric infrastructure.China's Electric Car Market: China in the Spotlight at the Frankfurt Motor Show
Wealth Daily Editor Brian Hicks tells us why China's car market is the Holy Grail of the automotive industry and reveals his stock pick for rare earth metals.
Japan's High Speed Rail: Bullet Train Technology May Hit the U.S. Soon
Sam Hopkins points out why Japan's economic fortunes are tied to the expansion of America's high-speed rail infrastructure.
The Industry that'll Rule the 21st Century: World's Economic Powerhouses Prepare to Cash in with Cleantech Sector
We reveal how you can know exactly what the industry's insiders and doing, and how you can gain a profitable foothold in a market that knows no borders.
Climate Change: The Cost of Inaction
Editor Jeff Siegel considers this piece a must-read for anyone who invests in renewable energy.
Energy Efficiency Stocks: No Need to Freeze the Goldfish
Green Chip Editor Nick Hodge covers energy efficiency stocks after Energy Secretary Chu discussed the topic on national radio. . .
Europe Offshore Wind: Norway-based ScanWind Develops Turbines that Could Cover Significant Percentage of Total EU Electricity Demand
Green Chip Editor Jeff Siegel talks about a report released by The European Wind Energy Association that indicated total installed capacity of offshore wind could cover as much as 17 percent of total EU electricity demand.
The Fortune You Could Find with Cleantech: Why We're Sitting Pretty in Wall Street's Catbird Seat
There's a ton of capital coming into this sector. . . there's unprecedented global support. . . and renewable energy's share of the overall energy mix is expected to grow from 2.5% in 2008 to more than 30% by 2030.
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1. The sun provides over 99% of the earth's energy.
2. The sun's energy varies from high to low every ~1500 years.
3. The current earth's temperatures are within the bounds of the last 4 solar cycles.
4. CO2 increases have only been proven to increase plant growth.
5. Atmospheric contaminates can only reduce solar energy received by earth. They cannot magnify it.
Prove me wrong, and I'll listen.
John Hunter