12-15-2014, 03:14 PM
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The People's Post
Industry Role:
Join Date: Dec 2008
Location: invisible 7-11
Posts: 64,667
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as I stated:
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?Oil demand and GDP growth used to go hand in hand,? said Christopher Knittel, a professor of applied economics at Massachusetts Institute of Technology?s Sloan School of Management. ?Now, they?re in some ways almost independent of each other because of investments in fuel economy that tended to break the link.?
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U.S. Renewable Energy Growth Accelerates
Geothermal energy is poised to double in the United States, with 4,000 MW of capacity under construction.
Renewable energy markets surged in the United States despite uncertainty over federal tax credits and a sluggish national economy, according to mid-year figures.
Wind, solar, and geothermal energy are all on the rise. At least 17,000 megawatts (MW) of these three energy sources are now under construction. According to the Energy Information Administration, renewable energy will account for about one-third of new electricity generation added to the U.S. grid over the next three years.
Wind energy is leading the way with 19,500 MW of installed capacity at mid-year, including more than 1,000 MW added in the last six months. The American Wind Energy Association (AWEA) second-quarter report [PDF] predicts that total additions for the year will come to 7,500 MW, boosting U.S. wind capacity by 45 percent. In Texas alone, more than 4,200 MW of wind capacity has been installed this year or is currently under construction. Iowa is in second place with 1,770 MW.
Geothermal energy is expanding as well, although at a slower rate. Nearly 3,000 MW is currently on-line and about 4,000 MW is under development, the U.S. Geothermal Energy Association said in its August report [PDF]. Nevada is the hotbed for U.S. geothermal, with as much as 1,900 MW in different phases of development. At a government auction last week, a record $28.2 million of leases was sold for geothermal energy exploration, which suggests that additional projects may soon begin.
While U.S. solar energy data for 2008 are not yet available, last year's Solar Energy Industries Association report [PDF] said demand for photovoltaic (PV) panels, concentrated solar plants, and solar water heaters continues to expand. An additional 150 MW of PV panels were installed last year, 45 percent more than in 2006. Less than 500 MW of concentrated solar power - utility-scale solar plants that use mirrors to produce heat for power generation - is operational, but another 4,000 MW is in the works.
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