Five Energy Stories Worth Reading Today 5/28

  1. House Bill 332 in the North Carolina senate aims to freeze North Carolina’s REPS and decrease the size of solar farms eligible for utility company standard contracts. The current REPS goals are 12.5% by 2021 and this bill, if passed, would freeze it at 6% until 2016 according to the Daily Tar Heel. 
  2. Ohio Republicans introduced House Bill 190, a bill partially aimed to “ease property setback provisions enacted last year that they claim makes investment in new wind farms impractical.” The bill also extends a tax incentive for alternative energy projects, but Rep. Kristina Roegner (R., Hudson) is asking about tax incentives for alternative energy versus oil and gas, according to the Toledo Blade. 
  3. Op-ed by the Vice President of Earth and Community Care at Aveda published in Midwest Energy News states that clean energy is “becoming an essential capital investment for many corporations” and asks for clean energy support in their HQ state, Minnesota, to “care for the world we live in.”
  4. SolarCity and Bank of America Merrill Lynch have partnered to announce a “$200 million tax equity investment program for solar projects that allows community banks to participate in tax equity.” Which means now investors can look to invest $20-$25 million which is “a smaller investment than has been previously possible given the transaction costs.” Read more in Greentech Media.
  5. RenewEconomy highlights several global changes indicative of capital flow transformation –   “In Europe overnight, the Norwegian parliament voted to instruct the government pension fund – the largest in the world – to cut its exposure to fossil fuel risk. In Australia, ANZ Bank made the biggest yet issue of an Australian-domiciled “green bond.” In the US, institutional shareholders tried to force oil giant Chevron to return money to shareholders, rather than risk it searching for yet more oil reserves.”