1. The Obama administration seems committed to fulfill its green pledge and has announced that $36 billion in loan guarantees will be made available for renewable energy projects and for modernizing the electricity grid.
“These investments will be used to create jobs, spur the development of innovative clean energy technologies and help ensure a smart, strong and secure grid that will deliver renewable power more effectively and reliably,” Energy Secretary Steven Chu was reported as having said in a statement.
The aim of these new measures is to stimulate the recession hit American economy and also to cut greenhouse gas emissions and address climate change issues. The $36 billion will go towards financing plans and companies associated with solar, wind, bio fuels and other renewable energy projects. Green vehicles and utilization of renewable energy is sought to be rewarded and encouraged here.
2. Meanwhile Fiji is looking to reduce its dependence on fossil fuels by increasing reliance on cleaner, renewable energy options. The little island nation is aware of economic and other imperatives that make it essential for them to explore options such as hydro electricity. As of now forty thousand rural households in Fiji are without electricity and efforts are underway to provide them with access to renewable energy sources and to cut the bill for import of fossil fuels at the same time.
3. India is another country looking to better its emissions record which will improve its bargaining position in climate talks and also make a positive impact on the economy and the environment by reducing reliance upon imported fossil fuels and polluting coal. According to a Reuters report, this is an ambitious $19 billion, 30-year scheme that could increase India’s leverage in international talks for a new U.N. climate pact in December, one of several measures meant to help cut emissions.
As of now, India is heavily reliant upon coal for meeting its electrification requirements which is a huge pollutant and contributor to greenhouse gas emissions. This makes India the fourth largest producer of these gases. Add to this the fact that there is anyway a shortfall in India’s energy requirements, which is a major reason for slower economic growth and one can readily see why the solar power project will be extremely beneficial: when fully operational, this project will ensue that solar power would be equivalent to one-eighth of India’s current installed power base.