Renewables

The Obama administration said it plans to make coastal areas available to wind energy developers by the end of the year.

U.S. Bancorp takes a strong position on renewable energy while troubles expected to loom over the U.S. wind industry if subsidies expire.

China’s state-controlled banks are signing billions of dollars of credit lines with wind and solar manufacturers to fund capacity expansion and overseas business.

Bloomberg is predicting a 2013 wind market “crash” as a federal incentive for wind energy is set to expire at the end of 2012.

China’s second largest wind-turbine manufacturer has purchased wind farms in Montana as many wind manufacturers are scaling back in the U.S.

In a new report, BP states that wind, solar and biofuel consumption will outpace demand for fossil fuels over the next 20 years, rising from 1 percent to 6 percent of total energy output. It states that, through 2030, global renewables consumption will grow at 8.2 percent per year versus a 2.1 percent annual gain for natural gas.

The wind energy industry is heading toward a critical inflection point, facing the end of a significant tax incentive and only lukewarm interest from venture capitalists.

The Department of the Interior has approved solar farms in Arizona and California and is also pushing for offshore wind farms on the Atlantic coast.

Energy supplier NextEra Energy Resources’ Golden Winds LLC has raised $131 million from JPMorgan Chase.

Bank of America invested $177 million in a tax-equity transaction associated with a wind farm developed by NextEra Energy Resources, LLC.