Treasury, Energy announce over $3 billion in Recovery Act Funds for renewable energy projects

WASHINGTON, USA: As part of an innovative partnership aimed at increasing economic development in urban and rural areas while setting our nation on the path to energy independence, the US Department of the Treasury and the US Department of Energy announced an estimated $3 billion for the development of renewable energy projects around the country and made available the guidance businesses will need to submit a successful application.

Funded through the American Recovery and Reinvestment Act (Recovery Act), the program will provide direct payments in lieu of tax credits in support of an estimated 5,000 bio-mass, solar, wind, and other types of renewable energy production facilities.

"The renewable energy program provides another important avenue for the Recovery Act to contribute to economic development in communities around the country," said Treasury Secretary Tim Geithner. "It will provide additional stimulus to economies in urban and rural America by helping to develop domestic sources of clean energy. This partnership between Treasury and Energy will enable both large companies and small businesses to invest in our long-term energy needs, protect our environment and revitalize our nation's economy."

The Recovery Act authorized Treasury to make direct payments to companies that create and place in service renewable energy facilities beginning January 1, 2009. Previously, these companies could file for a tax credit to cover a portion of the renewable energy project's cost; under the new program, applicants would agree to forgo tax credits down the line in favor of an immediate reimbursement of a portion of the property expense. This direct payment program allows for an immediate stimulus in local economies.

Steven Chu, Energy Secretary, said: "These payments will help spur major private sector investments in clean energy and create new jobs for America's workers. It is part of our broad effort to double our renewable energy capacity in the next few years and make sure that America leads the world in creating the new clean energy economy of the future."

In previous years, the tax credit has been widely used. It is considered a successful incentive for encouraging the development of renewable energy. In 2006, approximately $550 million in tax credits were provided to 450 businesses. The rate of new renewable energy installations has fallen since the economic and financial downturns began, as projects had a harder time obtaining financing. The Departments of Treasury and Energy expect a fast acceleration of businesses applying for the energy funds in lieu of the tax credit.

To expedite implementation of the program, Treasury and Energy are making available the terms and conditions, guidance, and a sample application at http://www.treas.gov/recovery/1603.shtml so that companies can prepare successful applications in advance of the launch of the web based application in the coming weeks – yet another tool designed to facilitate the timely flow of program funds to eligible businesses.

5G Wireless to develop hydrogen based fuel powered by the sun!

REDONDO BEACH, USA: 5G Wireless Communications, Inc. has signed a strategic alliance agreement with Magnegas Corp. that sets the framework for the joint commercial development of Magnegas Refineries powered by alternative sources of electricity such as wind, solar, or both.

The goal of the project is to commercialize the production of clean burning hydrogen-based fuel powered by the sun. The projects would be solar or wind powered, or a combination of the two.

5G Wireless CEO, Bo Linton, stated: "As the former President of Magnegas Corp., I am thrilled about the opportunity to work with Magnegas to construct as a first project a solar powered Magnegas refinery. I am confident the Magnegas Refinery is the best available technology for converting liquid waste into clean burning fuel. Our goal is to take it one step further and power the refinery with solar power creating a virtually infinite fuel supply supporting America’s efforts to achieve true energy independence.”

Rich Connelly, president of Magnegas stated: "Magnegas has been seeking an alliance to take advantage of the many synergies between wind or solar power and the Magnegas Refineries. We are confident that we have found the correct alliance in 5G to take the technology to the next level producing a hydrogen based fuel from the sun or wind."

Wind, solar hybrid offers solution for telecoms market

UK: Avea shows its commitment to the environment by using a hybrid solution as an alternative to diesel generators to power its telecoms base station.

This is the first Proven Energy wind turbine installed in Turkey for Avea, Turkey’s youngest operator in the telecoms market. The 6kW wind turbine was manufactured by Scottish firm Proven Energy and installed by Turkish resellers Girasolar.

The telecommunications market is one of the largest in Turkey and a hybrid solution is the answer to the problem of low energy supply at times when sun and wind strengths vary. Manufacturers of the installed Proven 6kW wind turbine are favourites in the telecoms markets due to the low cut in wind speed of 2.5 m/s and only requiring annual maintenance.

This mixed method of power generation is already well known in many sectorswith high energy needs. Installing a hybrid system has a quicker payback comparing solar panels and wind turbines alone and traditional diesel generators omit greenhouse gases that have a detrimental effect on the environment.

Girasolar director Erol Barendregt stated: “The hybrid solution is the best option because the sun and wind resources have opposite cycles and intensities during the day. Wind and solar power are understood to be among the best natural alternatives to fuel based electricity generation. Byusing both in a system that is designed to supplement each other you get a continuous and reliable power supply.”

Proven Energy head of business development Craig Jones, commented: "Our wind turbines are suited to the telecoms market due to their reliability in the market place. Proven Energy has worked with and are still working with some of the top names and glad to be working with Avea on their project."

Proven Energy installed their first wind turbine for the telecoms industry in 1999 for British Telecoms company BT. To date Proven Energy has worked with such names as Orange, Motorola and Vodacom.