A Portugese Energy Company knows about US Growth

An article in Reuters earlier this week noted a Portugese energy company that knows first hand where energy growth is occurring in the United States. It may be surprising to the current White House, but not the market, the growth is not in the coal energy sector.  Per Timothy Gardner’s article “EDP bullish on US renewable power despite Trump’s support for coal” in Reuters, the following quote is compelling.

“‘U.S. renewables represent the growth engine of our company,’ António Mexia, who since 2006 has run the power utility EDP (EDP.LS), one of Portugal’s biggest companies, said in an interview on Tuesday.

U.S. wind and solar power projects represented 65 percent of new investments last year at EDP’s renewables arm EDPR (EDPR.LS), and are expected to continue at that rate in 2018 and in 2019, Mexia said. EDPR operates renewable projects in 11 other countries in Europe and the Americas.”

This is not inconsistent with other measures in America as solar and wind energy growth have risen with the continual fall in pricing. And, it is showing up in recurring double digit job growth in solar and wind energy.

I have cited the significant increase in wind energy across our plains states, but this is following the forecast of oil tycoon T. Boone Pickens, who appeared on “60 Minutes” more than five years ago. He noted that natural gas expansion is a bridge to wind energy. It is just buying us time to get the infrastructure ready and prices to get more effective. It should be noted that several states get over 10% of their electricity from wind energy, with Iowa  at just under 33% leading in percentage of total and Texas at 16% producing the most wind energy due to its size.

In California, North Carolina, Florida and other southern states in the east and west, solar energy is growing significantly. California, by itself, would be one if the most prolific solar countries. And, Tesla is more of a battery storage company than car company. Elon Musk went live with a massive battery storage site to help a French company power southern Australia with solar energy. It truly is a global industry, so seeing a Portugese company invest here in the US is not unusual.

The growth in energy jobs are in renewables. It would be nice if this was more publicly recognized by all of our elected leaders, not just the ones who are not funded by the fossil fuel industry.

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17 thoughts on “A Portugese Energy Company knows about US Growth

    • Hugh, true. This is the reason I do these posts, as far too many are working off arguments that are at least five years old. One blogging friend said a friend told her there is no water problem because he has not heard about it. And, we have both have seen one commenter on another blog who is smug about renewables not being cost effective at all.

      Too many don’t follow any news and too many follow propaganda disguised as news. They either just don’t know or choose not to know. I believe Rick Perry, the Director of the DOE and former Governor of Texas is less aware of the success of renewables in his own state. It is that or he is being Machevellian. Keith

  1. Note to Readers: At the end of 2016, 18 states had over 1,000 megawatts of wind energy. In the US, 41 states had active projects producing 82,143 megawatts. As noted, Texas is by far the leader in production, followed bi Iowa, Oklahoma, California and Kansas, all of whom over 5,000 megawatts.

    In solar energy, California leads the way followed by Arizona, North Carolinsla, New Jersey and Nevada. Other southern states are seeing NC’s success and are following suit. Note, it is much easier to get solar up and running as it can be decentralized and need not be big projects.

    • Thanks Roger. I just heard on NPR a former coal lobbyist as been nominated to become the new Asst. Director of the Environmenal Protection Agency. A coal lobbyist. Hence, I write.

      • Roger, many thanks. While it helps our sanity and gets a more tethered message out, the conspiracy blogs dwarf us, so the people who need to see the message aren’t paying attention. They just believe everyone is out to get Trump. Keith

      • Considering the damage he is doing to the community structure and infrastructure of the USA I would suggest ‘everyone is out to get Trump’, is a truth which is held to be self-evident.

      • It is a self-fulfilling prophesy, isn’t it? As I said in an earlier post, Nixon’s paranoia led to his own undoing.

      • It is a measurement of the depths of irresponsibility which Trump has brought with him that Nixon’s era is looked back with a slight measure of nostalgia; folk saying ‘well at least he did….’

    • Janis, California should be commended for its future looking energy policy. A key positive is cities and states emulate good practices elsewhere and California has many things to emulate. Keith

      • Yeah. Those may also hit mostly choir. But you try. And I love that you send things to your newspaper. Although I doubt the dark side can read anything with logic and statistics to back it. 😪

      • Thanks. At least it makes me feel better. The folks I want to reach are the ones that have an open mind to a few facts.

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