Corporations are aggressively moving into greentech to deploy VC-backed innovation.
“Of the $2.6 billion of cleantech venture capital investment in 2012 in California, $1.45 billion included corporate investors,” according to Cleantech Investment: A Decade of California’s Evolving Portfolio, a survey of California greentech investing between 2003 and 2013 from Next 10, an independent California greentech advocate. That corporate portion was 56 percent of 2012 VC investment.
Recent warnings about the dangers of overreliance on petroleum have come from an unlikely cast of characters, including former presidential candidate Ron Paul, business magnate T. Boone Pickensand even a Saudi prince (who warned against his nation’s over dependence on oil exports).
It may cost you more to turn on the lights starting September 1.
San Diego Gas and Electric is raising rates for some households and most businesses.
High energy users, or about 25 percent of SDG&E customers will see some increase on their bills.
The rate hike was approved by the Public Utilities Commission earlier this year. The utility says the rate hike is needed to help pay for energy from renewable sources which is more expensive than electricity produced from natural gas.
California legislators need to start looking beyond 2020 if the state is to meet its carbon emission reduction goals, according to a Next 10 report released this week.
The state aims to reduce its carbon emissions by 80 percent from 1990 levels by 2050.
“It’s an ambitious goal,” said Next 10 founder Noel Perry. “While there are different ways of getting there, it’s clear innovation and truly transformative policies are needed.”
California has a goal of reducing emissions 80-percent from 1990 levels by 2050.
The study by the non-partisan group says a number of changes will be needed if the goal is to be met.
It says the current electricity pricing system doesn’t reflect true cost differences between using electricity during peak and off-peak hours. For example, current rates make charging an electric car at night six to eight times more expensive than during the day.