Goldman Sachs amps up renewable energy investment

Goldman Sachs amps up renewable energy investment 

Renewable energy has sometimes been seen by outsiders as a progressive industry, one for companies and individuals more concerned with the environment than their wallets, more into green trees than green bills. But those involved in the industry have long known that is not the full story. And with Goldman Sachs increasing its investment in renewable energy, one has to wonder if maybe renewable energy has cemented its status as big business.
Investment banking titan ups renewable energy portfolio
According to the Financial Times, Goldman Sachs has invested $135 million in ReNew Wind Power, an Indian wind farm company. Combined with previous investments, that means Goldman now has $385 million invested in the company.
Ankur Sahu is co-head of private equity in Asia at Goldman Sachs, and he spoke to the Financial Times about the company's turn to renewable energy power generation companies like ReNew Wind Power, saying shortages in energy production and a variety of new tariffs have led them to ramp up production.
"All these factors play into being in power generation more than in the suppliers," Sahu told the FT. "We feel that generation is certainly the more interesting place to be."
Not their first entry into the market
Last month, Goldman announced it would be investing up to $487 million in JRE, a solar power generation company in Japan. It may be a developing trend - after all, the Wall Street Journal's website notes that the company has vastly increasedits clean-energy budget, moving from 1.4 billion in 2006 to $4.3 billion last year. And all of this comes on the heels of last week's two announcements by Google about renewable energy investments in Africa and Europe, where they will be spending millions of dollars on wind farms and solar energy. All around the world people are interested in renewable energy - in the UK last year, Secretary of State for Energy and Climate Change Edward Davey said he thought renewable energy could "create a multi-billion pound boom for the British economy, driving growth and supporting jobs across the country."
Europe, Africa, Asia - these titans of American capitalism are spending millions of dollars on renewable energy around the world. People may think of investment banks like Goldman Sachs as cutthroat profiteers, but certainly their investment is good for the industry, good for Goldman Sachs and, above all, good for the future of the environment.

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KENTUCKY HIGH SCHOOL RADIO STATION IMPLEMENTS SOLAR POWER

Green energy solutions are increasingly finding themselves incorporated into various daily processes. Residential and commercial properties are having their lights, heat and technology powered with the of the sun. Corbin High School's radio station is now broadcasting over the wavelengths using solar energy.

WYMT TV reports that the high school, located in Corbin, Kentucky, was able to make the switch to solar energy thanks to a grant from the Appalachian Regional Commission for $10,000. Now, brand new solar panels will begin to collect the sun's energy to power the 100 watt transmitter needed for the school's radio station.

Teachers claim that the introduction of solar energy for the radio station is just one move the school is making to include green energy technology and sustainable solutions into the educational facility. Promoting sustainability at a high school may get students thinking about the consequences of their energy use and the energy solution solar and other renewable sources offer.

Students are encouraged to learn about solar energy, according to the news source, and how it integrates with the broadcasting system.
"I've never seen any solar power around here, especially since we're in such a coal area, and since you can run something like this from solar energy is just awesome," student Tanner Broughton, told the news source.

The integration of solar panels into the radio tower required special hookups.

"We do want to make some hard connections to the electric back-up there just to make sure, but at this point the batteries are now fully charged and we're ready to go solar," radio station manager David Colvin, told the news source.

Officials and faculty at Corbin High School are hopeful that solar energy will soon be incorporated into the school's science curriculum, reports WYMT TV.

Cape Cod Community College goes green

Cape Cod Community College goes green

Cape Cod Community College in Barnstable, Massachusetts, has taken some drastic steps to go green. The Associated Press reported a solar farm, photovoltaic arrays and a wind energy project have been installed over the past half year at the campus and could help the school save approximately $100,000 per year in energy bills.
"The goal here is twofold: Number one, we want to reduce our use of fossil fuels," said Dixie Norris, college vice president of finance and administration, according to the news source. "Number two, as much if not more, we need to reduce the cost of our electricity because it keeps going up and takes away from what we can do for our students."
These projects include 660 kilowatts of solar power and a five-kilowatt wind energy device. The installations are located on the land and roofs of the campus, the AP said. One unique location is where the wind energy generator will be placed, going on top of a stairwell in the college's gymnasium. This will work in concert with solar panels mounted on the gym, thereby saving the school more money.
This is a great start for green energy at the school, but it may still have along way to go before reaching the level of the No. 1 green college in America, which according to The Daily Green in Maine's College of the Atlantic. The Daily Green said the campus is committed to green building, land conservation and the elimination of toxins.

SOLAR PLANTS CREATE JOBS

SOLAR PLANTS CREATE JOBS

The U.S. economy has experienced a great deal of turmoil in recent years, with many Americans spending months or even years on unemployment while competing for fewer jobs in a contracting marketplace. Green energy, however, has given many individuals a second chance to make a living.

Three members of the Starr family lost their jobs at a window and door manufacturing plant in 2008, according to a recent article from Suntech Power. The mother, father and son, all qualified employees in the manufacturing business, have found work in a local solar plant.

“Solar is still in its infancy as far as the world is concerned,” Mike Starr told Suntech. “It’s a huge growth industry that’s making a tangible impact on a better future.”

The solar industry remains largely untapped in terms of an employment options. One common misconception is that the industry only provides career opportunities for those with an engineering or technical background, yet the industry has a number of positions for individuals with marketing, sales and IT backgrounds as well. However, because most solar manufacturers are still largely "under the radar," searching for job postings may take a little more effort than traditional job offerings. However, this may also mean less competition for job seekers, and so can provide a great opportunity for those willing to look.   

Day one of Intersolar North America focuses on state of the industry

Intersolar North America kicked off July 9 in San Francisco, and Renewable Energy World reported that the first day's presenters addressed the “titanic shift” that occurred within the solar industry over the course of the year.
This past year has seen a number of solar manufacturers go bankrupt, most notably big industry player Solyndra. The plant closures and bankruptcies spurred concern over the effectiveness of the Obama administration’s clean energy agenda, with many debating the future of the solar industry even with record growth around the world.
Tom Cheyney with Impress Labs presented on the first day of Intersolar. He acknowledged the difficulties that manufacturers have had, faced with a glut in the market and the availability of low-cost product from China, but he said that the difficulties are a natural part of the industry's maturation.
“There’s a word for it. It’s called carnage,” he said of the closures, adding, “And that goes for any industry with growth like solar.”
Two of the first presenters at the conference, Chase Weir of Distributed Sun and Sanjay Shrestha of Lazard Capital, maintained that the future of solar is bright, and that in order to realize the full potential of solar power, there is a necessary attitude shift and a need for a re-examination of market mechanisms. Weir pointed to the need for more access to capital and fewer major manufacturers.
Intersolar North America continues with the conference through July 12, with exhibitions beginning July 10. The goal of INA is to provide a forum that will allow insight into the North American solar market, gathering companies from around the globe to share their knowledge and experiences in an effort to fuel the implementation of this green energy source.

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DIRECT SALES MARKET OUTPACES GDP FOR GROWTH

The direct selling market continues to grow in the United States and across the globe, providing evidence of the model's success in the modern day business marketplace.

According to Direct Selling Association's "Annual Growth & Outlook Survey," direct sales increased by 4.6 percent from 2010, totalling $29.87 billion in 2011 compared to $28.56 billion in 2010. DSA's findings also show that the industry grew more than the gross domestic product did over the same time period - the GDP only experienced a 3.9 percent increase over the same time frame.

"Growing a small business when the economy is struggling is a tall order," said DSA president Joseph Mariano. "As an industry that celebrates entrepreneurship, the achievements made in 2011, particularly by small direct selling companies, are remarkable."

Of all industries surveyed - which included industries such as home durables, personal care, wellness and clothing, according to the survey participation form - nearly 50 percent experienced major growth in sales. One particular standout was Viridian Energy, which received DSA's 2012 ETHOS Rising Star Award for 2012. Past recipients of the annual award include Team Beachbody, a wellness company that tailors meal and workout plans for its clients, and Rodan + Fields, a skincare product company.