Are renewable energy credits (RECs) and carbon offsets exchanged in totally different markets, with little crossover potential for project developers and investors?

Washington, DC [RenewableEnergyAccess.com] Tax credits to promote renewable energy got a reassuring boost from lawmakers this week in Congress as a Senate bill was introduced to extend new federal tax credits authorized in the Energy Policy Act of 2005 through 2010.

Despite a short-term spike in the cost of wind power, data from a recent Emerging Energy Research study shows wind energy is nearly cost-competitive. The Comparative Costs of Energy report focuses on the European market but can be applied to the U.S. market as well, said William Ambrose, president of EER. Much of the study was based on global trends in the industry, he said.

In his first major speech on climate change David Cameron will outline Conservative plans to replace Labour's Climate Change Levy with a new, more effective and better targeted Carbon Levy.

Westborough, Massachusetts [RenewableEnergyAccess.com] Evolution Markets LLC completed an auction of renewable energy certificates (RECs) for the Massachusetts Technology Collaborative (MTC), a public economic-development agency that manages the state's Renewable Energy Trust, for an average price of $53.10 [per MWh].

Energy group E.ON is leading calls for the Government to give tax breaks to people who have installed insulation and double glazing in their homes.

Democrats said the legislation could produce as much as $15 billion in revenue. Most of that money would pay to promote renewable fuels such as solar and wind power, alternative fuels including ethanol and biodiesel and incentives for conservation.

Suppliers of mini-wind turbines and solar panels for the home have reported falls of up to 90 per cent in customer enquiries after the Government cut subsidies in May. While Energy minister Malcolm Wicks and Conservative leader David Cameron struggle with the vagaries of the UK's planning system (see below) to get their wind turbines erected, fewer ordinary households are now even bothering to apply.

Washington, DC [RenewableEnergyAccess.com] With energy independence and renewable energy development a legislative priority for Congressional leaders, the introduction of another renewable energy legislative proposal made its way to the Senate floor last week.

Western Wind Energy Corporation has reviewed the wind energy marketplace across the United States and has determined to seek new wind energy development opportunities in California. The strategy is focused at 30 sites totaling over 1,200 Megawatts.

PALMA DE MALLORCA, Spain: Spain will cut subsidies to wind-power plants following an overhaul of the way it calculates aid for renewable power sources, hurting earnings at utilities including Iberdrola, the world's largest producer of wind power.

St. Lawrence Mayor Wayde Rowsell has announced his town council has reached a 20-year tax agreement with NeWind Group Inc. The deal, expected to generate tax revenues in excess of $2 million for the community over the life of the contract, was reached Jan. 19 after a week of negotiations between the two parties. NeWind was awarded a contract by Newfoundland and Labrador Hydro in November to operate a commercial wind farm near the town, which will produce 27 megawatts (MW) of power to the island. Mayor Rowsell indicated the town approached the negotiations with the philosophy a good deal would be one mutually beneficial to both the company and the community, an objective he felt was accomplished. “We’re quite pleased with what we negotiated with the company.”

Summertime, with its heat waves, monster electric bills and crippling blackouts, may not seem like the best time for Con Ed to try to sell you on pricier power. But marketers at ConEdison Solutions, a subsidiary of the giant utility, are betting that, if they ask the right people, they'll find some willing to pay an average of $10 more a month to switch to wind power. "Despite the fact that everybody would like to pay less for their electricity, there are growing numbers of New Yorkers who are deeply passionate about the environment and want to do something about climate change," said Peter Blom, a ConEd Solutions manager.

Glenn Schleede examines the financial incentives available to owners of industrial wind energy and how taxpayers and utility customers are picking up the tab.

A new electricity cooperative dedicated to “green” energy cleared a major hurdle when it received nearly $32 million in tax-free bonding authority from the federal government for a wind farm. But significant hurdles remain before the co-op realizes its goal of supplying Montanans with power that doesn’t pollute. “It’s by no means a done deal,” said Russ Doty, executive director of Green Electricity Buying Cooperative.

THE nation's carbon offset industry is booming. ... Total Environment Centre spokeswoman Jane Castle said a stricter accreditation system was required to regulate the burgeoning sector. Tree planting was regarded as one of the least reliable methods, she said. "A lot [of companies] are selling trees without accreditation. Their claims of carbon neutrality are not accredited or monitored," she said. "It's very anarchic at the moment. There are many companies making a lot of money. Purchasing offsets should be the last resort if people and companies want to reduce emissions." Australian Consumers' Association spokeswoman Ria Voorhaar said the carbon offsetting industry must be better regulated.

The $53,500 grant is being dispensed as part of the Value Added Agriculture Product Market Development Grant Program. The money will fund a feasibility study of wind energy including wind testing using altimeter.

Efforts to put a wind turbine on the campus of Holy Name Central Catholic Junior Senior High School earned a major boost last week with the award of $575,000 from the Massachusetts Technology Collaborative. The grant will cover a big chunk of the project’s $1.6 million cost, and Stephen A. Perla, superintendent of the Diocese of Worcester Catholic Schools, says he is optimistic about raising the remaining $1 million.

But most of the those who are pumping money into the alternative energy sector -- and investing heavily in ethanol, wind and solar power -- are just shrewd people, who understand that it's hard to go wrong when Uncle Sam is helping hedge your bets and guarantee a return on investment.

Federation president Johannes Lackmann said investment in renewable energy sources turbines had actually fallen in 2007 and called on the German government to do more to stimulate its growth. "The government's current provisions are insufficient to continue the successful course of recent years," he said. Tax breaks and other subsidies that renewable energy sources receive in Germany are due to be gradually phased out over the next few years, which "green" producers say will erode their already weak competitiveness compared to traditional energy sources such as coal and nuclear power.