Tag Archives: Renewable Energy

28 SolarWorld panels, 5.25 kilowatts –Paul Wolff @ TVC 2012 02 17

Paul Wolff showed us his solar panels on Tybee Island:

That’s 28 panels. They’re SolarWorlds, roughly 18% efficiency rating, and it’s a 5.525 kilowatt system.

And another thing I tell people if your roof is at all questionable… right now there’s a 30% federal tax credit on the materials for an EnergyStar roof….

Here’s the video:

28 SolarWorld panels, 5.25 kilowatts –Paul Wolff
renewable energy,
Paul Wolff, The Volta Collaborative (TVC),
Tybee Island, Chatham County, Georgia, 17 February 2012.
Video by Gretchen Quarterman for Lowndes Area Knowledge Exchange (LAKE).

-jsq

If Southern Company’s nukes are a good deal, why so many insider stock sales?

If the Southern Company’s slick nuclear financing deal and its ongoing operation of three of the country’s dirtiest coal plants (two of them in Georgia) is such a good deal, why are so many insiders selling so much stock?

Maybe SO CEO Thomas A. Fanning needed that $12.4 million he got back in January by selling 275,617 shares at $45.0693 per share for a new yacht, or a new wing on his house, or something. A brief scan of nearby energy companies (Duke and Progress) indicates it’s not unusual for an energy company CEO to sell shares, although mostly not for this much dollar amount. $12.4 million is more than twice Fanning’s 2010 salary of $6.02 million, and well more than his 62% raised 2011 salary of $9.75 million that Georgia Power customers get to help pay for through Construction Work in Progress (CWIP) charges for the new nukes at Plant Vogtle that won’t be built for years, if ever.

But what’s with two SO subsidiary company CEOs, Mark A. Crosswhite, President and CEO of Gulf Power ( #206 on the Forbes Global 2000 in 2010) and Edward Day VI, President and CEO of Mississippi Power Company ( former engineering group supervisor at the Hatch Nuclear Project) selling a bunch of stock in April? Also there have been only a couple of puny little purchases, each of less than $30,000, in the past year. Why so much selling and so little buying by insiders?

Maybe new nukes are an increasingly bad business risk for Southern Company and Georgia Power. Perhaps some economic expert can help with this question; how about Moody’s? Maybe Georgia Power customers and Georgia and U.S. taxpayers and voters have an opinion?

I wonder what will happen to SO’s insider trading patterns when SO’s illusion of certainty of profit from nuclear and coal eventually becomes obvious even to their board and shareholders as actually a big risk, and when SO realizes Cobb EMC made the right choice for profit by ditching coal plant plans and building solar plants instead; when SO finally suddenly switches to solar like Cobb EMC and Austin Energy already did. Will insiders decide SO’s stock has become a good buy when SO builds solar and wind plants?

-jsq

Nuclear’s “bet-the-farm” risk —Moody’s

Wonder why Southern Company couldn’t get private financing for its new nukes at Plant Vogtle? Because back in June 2009 bond-rater Moody’s said this:

But from a credit perspective, the risks of building new nuclear generation are hard to ignore, entailing significantly higher business and operating risk profiles, with construction risk, huge capital costs, and continual shifts in national energy policy.

In case that wasn’t clear enough, they spelled it out further.

Nuclear’s “bet-the-farm” risk

The NRC says about 14 companies to date have submitted COL applications, proposing numerous new nuclear reactors for power generation. The first of these COL’s is expected to be approved beginning in mid-2011. Many of the COL license applications include partners, but the next table lists the primary holding company entity behind each project, and our view of the activity level associated with the endeavor.

From a credit perspective, companies that pursue new nuclear generation will take on a higher business and operating risk profile, pressuring credit ratings over the intermediate- to long-term.

Moody’s wraps up with some reassuring words for financiers, but maybe not so reassuring to we the taxpayers:

Continue reading →

New nukes increasingly bad business bet for Southern Company and Georgia Power

Harvey Wasserman wrote for HuffPost 9 April 2012, America’s 2 New Nukes Are on the Brink of Death,

The only two U.S. reactor projects now technically under construction are on the brink of death for financial reasons.

If they go under, there will almost certainly be no new reactors built here.

The much mythologized “nuclear renaissance” will be officially buried, and the U.S. can take a definitive leap toward a green-powered future that will actually work and that won’t threaten the continent with radioactive contamination.

Those are the stakes. And in that high-stakes poker game, it seems Southern Company is doing a little bluffing.

In Southern Company’s (SO) Q1 2012 Earnings Call 25 April 2012, its CEO Thomas Fanning revealed another little flaw in the project:

Continue reading →

Fixing the illusion of certainty in Georgia Power’s decision-making

Why is it so hard to get a company like Georgia Power or The Southern Company to get on with solar and wind power for clean energy, for national energy independence, and, most importantly to such corporations, for their own profit? Why instead do they keep investing in coal and natural gas and wasting our tax and customer dollars on nuclear financial boondoggles? Why did Cobb EMC back new coal plants until they had their nose rubbed in national shame about corruption and do nothing about solar until their shareholders revolted and changed a majority of their board? We don’t even need to wait for that forensic audit the new Cobb EMC board wants to get the big picture. Such companies consider what they’re used to to be low risk, and anything new to be risky. Why are they so stodgy, and how do we change that?

These companies have many decades of experience with coal and natural gas, so they consider them less financially risky. (Details like neighbors dying disproportionately from cancer cost a little bit to buy up property, but that’s nothing compared to readily predictable profits.) Even nuclear such companies consider not risky to them, since they’ve got the federal government and their own customers guaranteeing all the financial risk through Construction Work in Progress charges on their bills for power they’re not even receiving from the new nukes and agreement from Georgia PSC that cost overruns like those caused by concrete sinking into the dirt can be passed on to the customers.

Neal Stephenson wrote for World Policy Journal September 2011, Innovation Starvation,

The illusion of eliminating uncertainty from corporate decision-making is not merely a question of management style or personal preference. In the legal environment that has developed around publicly traded corporations, managers are strongly discouraged from shouldering any risks that they know about—or, in the opinion of some future jury, should have known about—even if they have a hunch that the gamble might pay off in the long run. There is no such thing as “long run” in industries driven by the next quarterly report. The possibility of some innovation making money is just that—a mere possibility that will not have time to materialize before the subpoenas from minority shareholder lawsuits begin to roll in.

But if the old ways turn out to be suddenly risky, change can come. Funny how Cobb EMC changed its tune after subpeonas started raining down for its former CEO Dwight Brown. Sure, he got off on a technicality, but it turns out Cobb EMC shareholders didn’t like Continue reading →

ALEC, bills to ditch renewable energy, and the Southern Company

Got caught promoting laws that encourage people to kill people? Double down on laws to kill people through pollution! That’s what ALEC is doing. And look who’s apparently a member of ALEC: the Southern Company, parent of Georgia Power, and proprieter of several of the largest and dirtiest coal plants in the country.

Brian Merchant wrote for Treehugger Tuesday, Two ALEC Campaigns Exposed: One Kills Renewables, One Boosts Fracking,

After major corporations like Pepsi, Kraft, Proctor & Gamble, and Coke all ditched the rightwing group, ALEC announced that it would Plant Scherer abandon its drive to enact gun and voter ID laws. The group’s decision came after a couple high profile campaigns were launched decrying ALEC’s involvement in passing the ‘stand your ground’ laws.

But the group is actually stepping up its efforts in other arenas, as I noted last week. And two new reports, one from ProPublica, the other from DeSmogBlog, outline its new aims: dismantle legislation that incentivizes renewable energy generation, and preserve loopholes that allow natural gas companies to keep the chemical cocktails in their fracking fluids secret from the public.

This is the same ALEC that promotes laws like Georgia’s HB 87 that lock up more people to benefit private prison companies like CCA, which wanted to build a private prison on Lowndes County, Georgia. Traficking in human beings is not too sordid for ALEC, so poisoning people through polution doesn’t seem surprising.

Hm, let’s look at the corporate membership of ALEC, as collected by Sourcewatch’s ALEC Exposed. Why there’s The Southern Company, parent of Georgia Power! I’m frankly a little surprised Continue reading →

Southern Company wants even more special nuke loan terms

Southern Company wants even more special loan guarantee terms for its new Plant Vogtle nukes. When that or CWIP gets revoked, maybe Southern Company will see that solar is a lot less trouble, and more profitable.

The license authorized by the NRC 9 February 2012 for the new Plant Vogtle nukes is the first one in thirty years. Harvey Wasserman wrote for CounterPunch 18 April 2012, The Big Liability,

It’s about a proposed $8.33 billion nuke power loan guarantee package for two reactors being built at Georgia’s Vogtle. Obama anointed it last year for the Southern Company, parent to Georgia Power. Two other reactors sporadically operate there. Southern just ravaged the new construction side of the site, stripping virtually all vegetation.

It’s also stripped Georgia ratepayers of ever-more millions of dollars, soon to become billions. This project is in the Peach State for its law forcing the public to pay for reactor construction in advance.

Look on your Georgia Power bill for Nuclear Construction Cost Recovery Rider, aka Construction Work in Progress (CWIP). It’s probably about 3% of your bill, for power you may never receive.

If you get your electricity from an EMC instead, remember Georgia’s Electric Member Corporations already participate in the existing Plant Vogtle nukes, so you’ll be on the hook one way or another for the new nukes.

When the project fails, or the reactors melt, the public still must pay.

And even before then, Georgia Power customers get to pay for cost overruns. Not to worry; last time nukes were built at Plant Vogtle, they only ran over budget by a factor of seven.

Southern Company’s existing Plant Vogtle reactors had an unexpected shutdown last year days after NRC said they were fine. And Southern Company says Continue reading →

Concrete flaws at Vogtle delay construction, require modified nuke permit

Concrete sinking into the dirt less than two months after licensing? One license amendment already requested and dozens more to come? Does this give you confidence in Southern Company's ability to build a safe nuclear plant without huge cost overruns charged to you the Georgia Power customer or you the taxpayer?

In mid-March the nuclear industry bragged about

Progress continues at the construction site of Plant Vogtle units 3 and 4 — the country's newest reactors and the first to be licensed since 1978.

We discover that at the end of March Southern Company had to ask NRC for a licensing change due to construction problems. Vogtle Nuclear Construction Faces “Additional Delay” Based on Miscalculations in Foundation Concrete — News Release from NC WARN and Alliance for Nuclear Accountability—April 9th, 2012, Continue reading →

Veterans for clean energy: Operation Free

Tired of expensive gas? Tired of expensive wars? Let’s get off of oil and onto clean renewable energy! That’s the message from Operation Free, a campaign of the Truman Project.

Mission: Secure America with Clean Energy.

Iraq War veteran Terron Sims said clean energy and veterans is a part of the “modern form of American exceptionalism.”

Here’s the video:

Pullquote:

“In Iraq… the lines would stretch up to ten miles long under the hot sun, under constant risk of attack by extremists. I realized then just how vulnerable it makes any country to be dependent on oil, especially the United States, which uses nearly a quarter of the world’s supply.”

The U.S. military is already leading us towards renewable energy. The Air Force, for example, has a goal of 25% of facility energy use from renewable energy by 2025, and Moody AFB is helping with that. Imagine if a substantial part of the military’s budget was repurposed to implementing renewable energy throughout the country to get us off of foreign oil. Now that would be national security!

And we don’t have to wait for Washington or Atlanta to get on with it right here in Lowndes County, for security, environmental preservation, jobs, and profit.

-jsq

University at Buffalo installs solar array at entrance

Meanwhile, about a thousand miles north of us, a 750 kilowatt solar array opens in Buffalo, New York.

According to PR of yesterday from the University at Buffalo, UB’s 3,200-Panel ‘Solar Strand’ to be Dedicated at Opening Ceremony: Will provide enough electricity to power hundreds of student apartments on campus,

In celebration of Earth Day and to promote clean, renewable energy development, the University at Buffalo and New York Power Authority (NYPA) will dedicate the UB Solar Strand, the 3,200-panel photovoltaic array, at an opening ceremony on Monday, April 23.

Those panels seem inclined quite a bit more than ones around here. That’s because UB is at 43 degrees north latitude, way north of our 31 degrees. And there’s a lot less sun up there, too. Yet they just installed a solar array more than twice as big as the 350 KW array in Valdosta.

UB is a university, and it uses the project for more than a single practical purpose:

Continue reading →