Green Investments Pay – Not according to the FHFA

This is an interesting Blog and an interesting post. I am no good at posting videos so:

http://legalplanet.wordpress.com/2012/09/09/are-pace-financed-residential-energy-improvements-capitalized-into-home-prices/

Are PACE Financed Residential Energy Improvements Capitalized into Home Prices?

September 9, 2012

The FHFA believes that an unintended consequence of obtaining a PACE loan is to increase the risk of mortgage default.  The FHFA’s  logic is that if the green investments are not capitalized into home prices then the home owner’s equity decreases as equity =  sales price – debt owed.   Under these assumptions, the green investment doesn’t raise the sales price but does increase the debt owed. My recent research convinces me that this pessimism is false.  Here is  My letter to the FHFA. Here is my July 2012 peer viewed paper on solar panel capitalization effects in San Diego and Sacramento   dastrup-zivin-costa-and-kahn .

We need more regulatory scholarship focused on empirical work and hypothesis testing.  I have an incentive to say this because that is what I do.

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Go there and see the video. More tomorrow.

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Wave Power – Let us ride a wave into the next week

Well this has been a weird week. Last week wasn’t much better. But now that the 2 political Party Conventions are over we can get back to the real world. Every once in awhile I check in with waterworld to see how they are coming along. Eventually we will get a bunch of energy from the sea, but right now these guys are struggling. This is an old article. For Monday I will try to find something newer and if I can’t I will move on.

http://www.alternative-energy-news.info/wave-power-farm-sets-sail/

America’s Premiere Wave Power Farm Sets Sail

Wave energy is among the impressive list of renewable energy resources that is being developed in the United States. New Jersey-based developer, Ocean Power Technologies has launched a project that features the nation’s first commercial wave power farm off the coast of Reedsport, Oregon. Once the project is completed, wave energy will generate power for several hundred homes in Oregon. The wave power farm operates on the wave energy that is created when a float on a buoy flows with the natural up and down movement of the waves.

This action subsequently causes an attached plunger to follow the same kind of ebb and flow movement. The plunger is attached to a hydraulic pump that changes the vertical movement to a circular motion, which drives an electric generator to produce electricity that is sent to shore through submerged cables.

When the initial project is finished, the first $4 million dollar buoy will measure 150 feet tall by 40 feet wide, weighing 200 tons. Nine more of these crafts will be set in motion by the year 2012 for a total cost of $60 million dollars. About four hundred homes will receive electricity from Oregon’s wave power farm by the completion of the project.

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Go there and read. More next week.

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Barack Obama’s Energy Policies – They are great but have left me a bit disappointed

This election offers a clear choice if you are into the environment and advancing energy policies towards a clean energy future. Barack wants to go to clean energy and Mitt wants to go back to the past. I have been disappointed in some of Barack’s decisions or should I say his administration’s decisions. I was totally unhappy with his decision to back the two nuclear power plants in Georgia. I also thought that the Sylendra loan was totally political. Still his strong backing for Wind and Solar is deeply appreciated. More historic however, he has moved the military towards alternative energy. Like I tell people who are you gonna vote for? The other guy?

http://www.barackobama.com/record/environment?source=primary-nav

  • President Obama has made protecting the environment a priority, moving us toward energy independence, investing in clean energy jobs, and taking steps to improve the quality of our air and water. As of November 2010, the Obama administration’s policies have helped create hundreds of thousands of jobs in the clean energy industry.

  • President Obama enacted the largest expansion of land and water conservation and protected wilderness in a generation. He also created the America’s Great Outdoors initiative to develop a community-led conservation and recreation agenda for the 21st century.

  • President Obama is committed to putting in place an “all-of-the-above strategy” to develop every available source of American energy while making sure we never have to choose between protecting our environment and strengthening our economy.

In his most recent State of the Union address, President Obama reiterated his commitment to lessening America’s dependence on foreign oil and investing in clean energy to protect our environment and create jobs.

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Go there and read. More tomorrow.

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The Drought Will Move On – That is the nature of Global Warming

The unstable weather patterns created by Global Warming means that there will be drought and flooding somewhere in the world, more or less at the same time. So this impending hurricane just pushes the drought out of its way for a while but it will come back.

http://in.reuters.com/article/2012/08/30/us-usa-drought-idINBRE87T0Z620120830

Drought eases in U.S. Midwest, worsens in northern Plains

By Karl Plume

Thu Aug 30, 2012 9:30pm IST

(Reuters) – The worst U.S. drought in a half century loosened its grip on the Midwest in the past week, helped by rain and cooler temperatures, but the drought grew more dire in the northern Plains, a report from climate experts said on Thursday.

But the improved Midwest weather arrived too late for crops in major farm states such as Kansas, Iowa, Illinois and Indiana, where severe corn and soybean yield losses have already been realized.

The portion of the contiguous United States suffering from at least “severe” drought fell to 42.34 percent from 44.03 percent over the prior week, according to the Drought Monitor, a weekly synthesis representing a consensus climatologists.

The percentage of the Midwest in that category slipped to 49.96 from 51.06 the previous week, with the most notable improvement in Indiana, 64.07 percent of which was under severe drought or worse, down from 81.48 percent a week ago.

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Go there and read. More next week.

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Rain Friday Night They Say – When Isaac’s remnants get here

But the damage has already been done. The next question is what about next year. First, the seed corn was a total wash this year so right now they are trying to grow enough in Brazil to even get us going next year. But then the next question is when to plant and where. If anybody was a good enough predictor to get in during or right after the late frost then your corn would be fine and you would be sitting on a gold mine. This is contingent on us getting some moisture over the winter. If we don’t get enough moisture well then next year looks bleak.

http://www.guardian.co.uk/environment/2012/aug/30/iowa-corn-crop-drought-farmers-prices?newsfeed=true

Rain comes too late for Iowa’s corn crop as drought weighs on midwest minds

Farmers hope for better next year after summer of record drought leads to rising prices and brings tensions to the surface

Thursday 30 August 2012 10.44 EDT

Flying into Des Moines, the corn fields look surprisingly green. America’s midwest produces half the world’s corn and Iowa its largest harvest, yet amid the worst drought in living memory all the untrained eye can see is the occasional brown mark, like a cigarette burn on the baize of a pool table.

But appearances can be deceptive.

In Boone, Iowa, 30 miles away from the state capital, traffic backs up for miles bringing 200,000 people to Farm Progress, the US’s largest agricultural show one. Here, all the talk is of the drought.

Pam Johnson, first vice-president of the National Corn Growers Association, says she can’t remember one as bad as this in her 40 years of farming. “My parents say you have to go back to the 1930s for anything comparable,” she says. In June, her farm in northern Iowa got an inch and a half of rain. “We usually get that a week. In July we got seven-tenths of an inch, for the month.” Rain may be coming soon, thanks to hurricane Isaac, but it’s too late for America’s corn crop.

The US planted 97m acres of corn for this year’s crop – the most since 1937. If everything had gone according to plan, this year’s harvest would have produced a new record, at close to 15bn bushels of corn (a bushel is 24 million metric tonnes). It’s too early to say what the final tally will be, but the US department of agriculture has slashed its forecast to 10.8bn. Dan Basse, president of AgResources, an independent agriculture analyst, says that figure is likely to come down. “We’ve lost 4bn bushels of corn. That’s the largest loss in history, and we could lose another,” he says. The USDA has declared counties in 38 states to be “disaster areas”. About 72% of cattle areas are experiencing drought.

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Go there and read. More tomorrow.

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Drought Causes Drillers To Go Deep – And in some cases guess

Water is a utility issue, an environmental issue, an energy issue and a residential issue. So it makes sense to cover it here. Next week I turn to the energy policies of the Presidential candidates.

http://seattletimes.nwsource.com/html/nationworld/2019013218_apusdroughtwellwitchers.html

Originally published Wednesday, August 29, 2012 at 5:14 AM

In drought, drillers offering even water witching

Well driller Randy Gebke usually uses a geology database and other high-tech tools to figure out where to sink new water wells for clients. But if asked, he’ll grab two wires, walk across the property, waiting for the wires to cross to find a place to drill.

By DAVID MERCER

Associated Press

CHAMPAIGN, Ill. —

Well driller Randy Gebke usually uses a geology database and other high-tech tools to figure out where to sink new water wells for clients. But if asked, he’ll grab two wires, walk across the property, waiting for the wires to cross to find a place to drill.

Gebke is water witching, using an ancient method with a greater connection to superstition than science.

Thousands of wells have gone dry this summer in the worst drought the nation has experienced in decades. Some homeowners are spending as much as $30,000 to have new ones drilled, and Gebke said most potential customers in his area expect water witching to be part the deal.

“Over 50 percent of the time in that conversation, they ask do we have a witcher on the crew,” he said. “And my response is, `We have a witcher on every crew.'”

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Go there and read. More tomorrow.

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Praying For A Hurricane – How sad is that

This drought is so severe that it will take more then a hurricane to end it.  Two or three hurricanes maybe, but this one no way.

http://www.washingtonpost.com/business/tropical-storm-isaac-could-bring-welcome-rain-to-midwest-but-unlikely-to-break-drought/2012/08/28/3066b0a4-f0e0-11e1-b74c-84ed55e0300b_story.html

Tropical Storm Isaac could bring welcome rain to Midwest but unlikely to break drought

By Associated Press,

OMAHA, Neb. — The remnants of Tropical Storm Isaac could bring welcome rain to some states in the Mississippi River valley this week, but experts say it’s unlikely to break the drought gripping the Midwest.

Along with the deluge of rain expected along the Gulf Coast when Isaac makes landfall, the National Weather Service predicts 2 to 6 inches of rain will fall in eastern Arkansas, southeast Missouri and southern Illinois.

Those areas are among those hard hit by the drought that stretches from the West Coast east into Kentucky and Ohio, with pockets in Georgia and Alabama. The rain that falls inland likely will ease but not eliminate drought, because those areas are so dry, said Mark Svoboda, a climatologist with the National Drought Mitigation Center.

Arkansas rancher Don Rodgers said his area is short 17 inches of rain this year. He said even a couple of inches from Isaac would make a significant difference because he would have water for his cattle and might be able to grow some forage for this winter.

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Go there and read. More tomorrow.

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The Drought And Power Plants – Unannounced production cuts

While I wrote about the higher output temperatures of power plant effluent (water) and the effects on the wild life and the surrounding environment. But the fact is, they have been dropping in production too. I mean if you can’t cool them, they will melt and for the most part that is a bad thing especially for the nukes. The President of PG&E was crowing about their nuke being cooled by sea water so “as to be not effected” by the drought and climate warming. He may want to rethink that.

http://insideclimatenews.org/news/20120815/nuclear-power-plants-energy-nrc-drought-weather-heat-water

Extreme Heat, Drought Show Vulnerability of Nuclear Power Plants

Reactor shutdown in Connecticut is latest sign that nuclear energy would face challenges from climate change.

Aug 15, 2012

Will 2012 go down as the year that left the idea of nuclear energy expansion in the hot, dry dust?

Nuclear energy might be an important weapon in the battle against climate change, some scientists have argued, because it doesn’t emit greenhouse gases. But separate of all the other issues with nuclear, that big plus would be moot if the plants couldn’t operate, or became too inefficient, because of global warming.

In June, InsideClimate News reported on the findings of Dennis Lettenmaier, a researcher at the University of Washington. His study found that nuclear and other power plants will see a 4 to 16 percent drop in production between 2031 and 2060 due to climate change-induced drought and heat.

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Go there and read. More tomorrow.

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Drought And The Mississippi River – How low can you go

I was going to write a piece today on the stupidity of trying to maintain our addiction to liquid fuels that are not sustainable like ethanol. But then it suddenly dawned on me, if the corn can’t get to the processing plant then there is really nothing to write about. Yup the barges are stacking up in a river that is, in some places down to one lane and in an 11 mile stretch it is closed. They also point out that after the flooding last year they did no dredging cause the rich people won’t pay their taxes. Oh sorry.

http://www.theatlantic.com/technology/archive/2012/08/this-years-drought-is-so-severe-you-can-see-its-toll-on-the-mississippi-river-from-space/261428/

This Year’s Drought Is So Severe, You Can See Its Toll on the Mississippi River From Space

Aug 22 2012, 9:42 AM ET

Last year, the Mississippi River flooded. Major storms combined with melting snow brought the waterway more than 56 feet above river stage in May. The Army Corps of Engineers lifted the floodgates of the Morganza Spillway, deliberately inundating some 3,000 square miles of rural Louisiana to spare worse damage in New Orleans and Baton Rouge. In August of last year, NASA’s Landsat 5 satellite took a picture of the swollen river. Here’s what it saw:

(note: I know longer post pictures on this blog for the most part. They take to much time and effort to post.)

 

This year it’s an entirely different story. At the end of last month, more than 60 percent of the lower 48 states were in drought, and the might Mississippi was running low. An 11-mile stretch of river has been closed on and off since August 11, and earlier this week nearly 100 boats lined up near Greenville, Mississippi, waiting to pass. Water levels near Memphis are ranging from 2.4 to 8.3 below river stage, compared with 11.7 feet above at this time last year. To make matters worse, the floods of last year deposited huge amounts of sediment on the river bed, reconfiguring the existing channels.

Again NASA was there to capture the view from space, this time with Landsat 7. Here’s that image:

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Go there and see the startlingly different pictures and read. More tomorrow.

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America 9th In The World – I am not sure whether I believe this or not

ACE3 rarely ever gets very much wrong.  But the idea that the UK was the most efficient country in the world and the USA was 9th? There is something very wrong about that.

http://www.energycircle.com/blog/2012/08/15/us-takes-9th-place-energy-efficiency-out-of-12

U.S. Takes 9th Place in Energy Efficiency! (Out of 12).

By Will – August 15th, 2012

A new report from the American Council for an Energy Efficient Economy (ACEEE) ranked the energy efficiency of the world’s 12 largest economies. The U.S., unfortunately, ranked 9 out of 12.

So while we were out dominating at the Olympics, we were quietly slipping behind on a metric that, if improved, would yield a substantial benefit  for our country — economically as well as environmentally.

So how did we do on the specifics?

  • 9th overall in energy efficiency
  • 9th in terms of “national effort” in energy efficiency
  • 6th in industrial energy efficiency
  • 4th in building energy efficiency
  • 12th in transportation efficiency

With our penchant for gas guzzlers and the unpopularity of public transportation over here, it’s easy to see how we came in dead last in transportation.

But a shimmer of hope there is the 4th place ranking we got in building energy efficiency — our best category, and not all that shabby really. (We would have almost gotten a medal if building energy efficiency were an Olympic event.) While we’ve previously lamented our slow progress in implementing energy efficiency in buildings, and have shaken our heads as federal tax credits have been cut and legislation aimed at improving energy efficiency has stalled, it looks like we’re actually doing okay in the field of building efficiency compared to the rest of the world’s developed countries.

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Go there and read. More next week.

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