An attempt to buy Berlin's energy grid from the Swedish mega firm Vattenfall fell short at the polls on Sunday. Activists argued the company isn't doing enough to foster green energy, while opponents questioned the logistical advantages of a change. In order to pass, the measure would have had to get the support of 25 percent of eligible Berlin voters. Although 83 percent of those voting in the referendum voted yes, the overall numbers fell slightly short -- another 21,000 "yes" votes would have been needed for a win.
Hamburg, Germany's second-biggest city, is preparing to spend 2 billion euros ($2.7 billion) to buy back energy grids it sold to utilities Vattenfall Europe AG and EON SE (EOAN) more than 20 years ago after its citizens backed the repurchase by a narrow majority yesterday.
The buyback was supported by 51 percent of voters in a referendum held on the same day as federal elections that saw Angela Merkel's Christian Democrats win their highest score since Helmut Kohl's victory of 1990 and Merkel a third term as chancellor.
The port city is one of dozens of German municipalities that are reclaiming control of energy grids after a period of privatizations in the 1990s when money was needed to prop up budgets.
Ikea is to sell solar panels at its British stores for the first time in an attempt to tap growth in the heavily subsidised green energy market.
A solar panel owner receives subsidies for generating solar-sourced electricity as well as exporting excess power into the grid. An average semi-detached house with a south-facing roof would earn as much as £770 a year through subsidies and savings on energy bills, an Ikea case study showed.
With renewable energy, "there is no supply chain vulnerability, there are no commodity costs and there's a lower chance of disruption," Richard Kidd, the deputy assistant secretary of the Army in charge of energy security, said in an interview. "A fuel tanker can be shot at and blown up. The sun's rays will still be there.
renewable power equipment is an example of a piece of capital that offers global externality benefits as its adoption reduces global GHG emissions. This means that importing nations and the rest of the world gain if exporting nations such as China choose to strategically subsidize green industries such as solar panel makers and wind turbine makers. Note that these products are different than toys or cars that the mass production of these goods lowers the price of adopting green technology by mainstream U.S firms such as Walmart. The U.S in its pursuit of protecting "U.S jobs" is sacrificing environmental progress. Will mainstream environmentalists acknowledge this point?