QUICK NEWS, March 23: KAFKA IN FLORIDA; SUNRUN READIES IPO; THE OBAMA TEAM BACKS WIND

KAFKA IN FLORIDA Florida's State Employees are Preparing for Climate Change, Even as Their Governor Bans the Phrase

Tristram Kortem, March 22, 2015 (New Republic)

“…[Government employees are] in it for the long haul…So I wasn't expecting any heroes to rock the boat from inside the vast bureaucracy that is Florida's government when I began to investigate the silent treatment given the terms ‘climate change’ and ‘global warming’ within state agencies…[But the] employees I've found during my reporting are nonetheless the ones doing the long thinking, working to address the effects of climate change, even as they have to hunker to avoid political interference. They know they'll be here when Rick Scott is gone. So will the problems they're working on…The extent of what all of this means, we don't yet know. While some inside the [Department of Emvironmental Protection (DEP)] have expressed relief that the word is out (pun intended) and sure as hell ain't going back in, they also expressed fear that their projects are now in peril…and that funding for climate change work will be cut…This is the ridiculous balance state employees are being asked to perform…It's Kafka as interpreted by Orwell and performed by Tallahassee's finest…” click here for more

click to enlarge

Tweet

SUNRUN READIES IPO Solar-Energy Company Sunrun Preparing for Potential IPO; Sources say timing and final price not yet finalized

Telis Demos and Yuliya Chernova, March 18, 2015 (Wall Street Journal)

“Solar-energy company Sunrun Inc. is powering up for a potential initial public offering later this year…[Sunrun] is set to work with banks including Credit Suisse Group AG and Goldman Sachs Group Inc. on an IPO, though the deal’s timing and final price aren’t yet finalized…Sunrun, founded in 2007, has already privately raised about $300 million in equity [for residential solar] from investors such as Accel Partners, Foundation Capital, Madrone Capital Partners and Sequoia Capital, according to the company. It was valued at $1.3 billion as of March 2014…In January, Sunrun said it raised $195 million in credit facilities from Investec PLC. Credit Suisse also had previously backed the company with $200 million in project financing in 2012…A handful of solar power companies have made a comeback in the public-offering market in recent years after a period of dormancy. Residential solar installers Vivint Solar Inc.,backed by Blackstone Group LP, and SolarCity Corp., backed by inventor Elon Musk, have also gone public…Like Sunrun, these firms own the solar installations and charge homeowners to use the electricity generated. SolarCity shares have soared more than sixfold since its 2012 IPO, though Vivint shares are down 30% from its 2014 IPO. Vivint has a market capitalization $1.3 billion, while SolarCity is valued at $4.8 billion…The firms have tapped into a growing residential solar-power market. The megawatts of residential solar installed grew 51% in 2014 and is expected to grow 50% this year, research firm GTM Research said..” click here for more

click to enlarge

Tweet

THE OBAMA TEAM BACKS WIND The Promise of Wind Energy

Dan Utech, March 12, 2015 (White House Blog)

“No challenge poses a greater threat to future generations than climate change. In June 2013, President Obama put forward a comprehensive Climate Action Plan…[P]erhaps nowhere has progress been as dramatic as in renewable energy…[W]e harness three times as much electricity from the wind and 10 times as much from the sun as we did since President Obama took office. Wind energy is emerging as a powerhouse…A third of all new generating capacity has come from wind over the past five years, and the United States ranks first in the world in wind power generation…[The DOE’s] Wind Vision: A New Era for Wind Power in the United States…[shows the] nation can deploy wind power to economically provide 35% of our nation’s electricity and supply renewable power in all 50 states by 2050…[That could avoid] more than 12.3 billion tons of carbon pollution cumulatively by 2050, equivalent to avoiding one-third of global annual carbon emissions…[and] support more than 600,000 jobs by 2050, including engineers, construction workers, truck drivers, factory workers, utility operators, maintenance technicians, electricians, and other supporting services…[and] could save approximately 260 billion gallons of water…” click here for more

click to enlarge

Tweet