Buffet Promises Renewable Energy Industry Another $15 Billion
Warren Buffet announced this week that he is doubling his original investment of $15 billion in clean energy to a cool $30 billion. Buffet is already one of the biggest clean tech investors in the country and took further steps to make renewable energy the norm when he published a report telling Congress to restore renewable production tax credits. The investor specifically cited the importance of PTCs for “wind power, biofuels and energy efficiency technologies.”
China Pledges Absolute Cap on Carbon Emissions
Following the EPAs newly-proposed plan for limiting carbon emissions at power plants, China announced it will place an absolute cap on carbon emissions. While the cap has not yet been determined, the Chinese government is determined to limit absolute emissions, instead of its previous plan to “cut emissions relative to its economic growth.” There is no timeline yet for this plan.
New Battery Could Improve Renewable Energy Storage
After decades of trying to create batteries strong enough to store renewable energy, a California-based startup called Enervault claims to have found the answer. Claiming it is more cost-effective than the traditional option of generating hydropower through water turbines, Enervault’s battery can store one megawatt-hour of electricity. While this is a far leap from other energy storage options, the battery loses about 30 percent of the energy it stores.
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