Renewable energy industry news roundup: August 1–6, 2016
Tech giant Apple gets the green light to sell electricity from its renewable and other energy generators, the first offshore wind turbine gets installed in the United States, and researchers predict the global wind market to reach over 700 gigawatts (GW) by 2020. Read these stories and more in this week's renewable energy news roundup.
Feds Give Apple Approval to Sell Electricity
The Federal Energy Regulatory Commission has approved the Apple's request to sell electricity from renewable and other energy generators it owns in Nevada, California and Arizona. Apple joins the likes of Walmart and Google that have found the benefits in being a regulated electricity player, especially as their companies become increasingly energy-dependent.
First Offshore Wind Turbine Installed in U.S. Waters
Deepwater Wind has installed the first offshore wind turbine off the U.S. coast near Block Island, Rhode Island, marking a major milestone in alternative energy and wind power. The 30-megawatt, 5-turbine Block Island Wind Farm is scheduled to begin generating power later this year, supplying most of Block Island's power. Providence, Rhode Island-based Deepwater also has proposed a 90-megawatt, 15-turbine South Fork Wind Farm off the coast of Montauk that would be the biggest in the nation.
Green Building Materials Market Set to Reach $255B by 2020
The global green building materials market is on pace to hit $255 billion by 2020, growing at an annual CAGR of approximately 12 percent, according to a report from Zion Research. Zion found the green materials market was valued at $127.5 billion in 2014, with the public facilities, education, commercial and industrial sectors dominating market demand. Public facilities alone represented more than 20 percent of the total green building materials market in 2014.
The global wind market is expected to total 705.5GW of installed capacity by the end of 2020, according to Navigant Research. In a new report, the researchers said wind capacity grew by 63.1 gigawatts (GW), or 23.2 percent last year, making it one of the fastest growing energy sectors.