Guest Post – Stephen L. Cowell

As our economy continues to sputter, one little-noticed industry has been booming for a while now: energy efficiency. The sector is hiring like crazy — a fact that speaks volumes about the close relationship between clean energy and the economic recovery that we’re all waiting for. Energy efficiency could save us all.

My firm works with utilities, government agencies, housing authorities, and other groups to help increase energy efficiency. We started in 1984 with three employees and one office. Today, we have nearly two dozen offices nationwide and employ 700 staffers from coast to coast. Most strikingly, we’ve added more than 250 people and 12 offices in just the last two years. The reason is crystal clear: Energy-efficiency services are in great demand. We are continuing to expand rapidly as more groups turn to us for help.

But energy-services firms are not the only ones that can benefit from the demand for energy-efficiency services. With the right programs in place, reducing power consumption can improve the bottom line for many other types of companies. Case in point: The building infrastructure in this country is old and inefficient. Retrofitting these buildings requires an army of workers. These include heating/air conditioning installers, insulators, and building inspectors. Many of these trades people are out of work and these retrofitting jobs can get them back on their feet. Products like insulation, caulk, triple-paned windows and doors, and high-efficiency heating and cooling systems will also get a boost. And that’s not all. The goods need to be made, inspected, shipped, and sold, widening the circle of employment opportunities for manufacturers, retailers, and distributors. This expanded workforce means people will have more money to spend.
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Sharp Corporation to Acquire Recurrent Energy for up to $305 Million

Acquisition Establishes Sharp’s Global Solar Power Generation Platform

SAN FRANCISCO, September 21, 2010 – Recurrent Energy and Sharp Corporation (TSE: 6753) announced today that they have reached a definitive agreement for Sharp to acquire Recurrent Energy, a leading solar project developer and generating company with a 2 GW pipeline. The acquisition is expected to close before the end of 2010, subject to customary closing conditions and regulatory approvals.

The terms of the agreement call for Sharp to pay up to $305 million in cash at closing, subject to balance sheet adjustments, to purchase a 100 percent stake from Recurrent Energy shareholders. Recurrent Energy is a Hudson Clean Energy Partners portfolio company. Other shareholders include Mohr Davidow Ventures.

As a leader in solar project development with a well-recognized name, Recurrent Energy will retain its name, operating as a subsidiary of Sharp. Arno Harris, CEO of Recurrent Energy, will retain his title and continue to lead the company following the acquisition. Mr. Harris will report to Toshishige Hamano, Sharp’s Executive Vice President responsible for overseas business. Recurrent Energy’s executive team and employees will also continue with the company.

“We are excited to have reached a definitive agreement for Sharp to acquire Recurrent Energy, a leading solar project developer and generating company with a 2 GW pipeline. It is essential for Sharp to function as a developer in the photovoltaic field, in order to further expand its business in this area. With Recurrent Energy’s know-how as a developer, Sharp aims to become a total solutions company in the photovoltaic field, extending from developing and producing solar cells and modules to developing and marketing power generation plants,” said Toshishige Hamano.

“We’re thrilled to reach this agreement with Sharp, a company known for its global leadership in solar technology,” said Arno Harris, CEO, Recurrent Energy. “Sharp’s support will help us to accelerate our growth and further cement Recurrent Energy’s goal to build the leading global solar generating company.”

Recurrent Energy has driven rapid growth of its development pipeline, with over 330 MW of contracted distributed-scale solar power projects including 170 MW with the Ontario Power Authority, 60 MW with the Sacramento Municipal Utility District (SMUD), and 50 MW with Southern California Edison, and announced projects and joint development agreements in Europe and the Middle East.

“We’ve enjoyed a tremendous partnership with the Recurrent Energy team and believe Sharp is the right partner to accelerate the growth of the business,” said Neil Auerbach, a Recurrent Energy director and Managing Partner at Hudson Clean Energy Partners.

It’s outrageous.

Oil is still spewing out at a rate of at least 210,000 gallons a day into the Gulf of Mexico. It’s never been clearer just how costly our dependence on dangerous and dirty fossil fuels is. Yet here in California on Monday, oil companies appear to have succeeded in introducing an initiative onto the November ballot that would keep us hooked.

Largely backed by Texas oil giants Valero and Tesoro, dirty energy supporters have already poured more than two million dollars into a campaign to roll back California’s groundbreaking climate and clean energy laws — with tens of millions of dollars waiting in the wings.*

It’s up to us to stop this “dirty energy proposition” from passing. Will you help expose the truth behind the big oil-backed proposition, using your local newspapers to help galvanize public opinion against it?

As our nation is scrambling to contain one of the worst environmental disasters in our history, there is no better time to demand that we end our dangerous addiction to dirty fossil fuels and transition to energy sources that are clean, renewable and ultimately, free.

Clean energy has been a bright spot in our rough economy, and California’s climate and clean energy law will help spur manufacturing and construction jobs for workers installing solar panels, retrofitting buildings and building the next generation of fuel-efficient cars.

The dirty energy proposition would kill various California clean energy and clean air efforts — including a goal of reaching 33% of our electricity from renewable sources within a decade. The proposition would hurt our environment and our health, while blocking many of the tens of thousands of jobs that come along with a clean energy industry.

This week’s media coverage around the ballot measure will be the first time that most Californians hear about the “dirty energy proposition.” Let’s make sure that they hear the truth — by filling our local papers with letters to the editor opposing this dangerous proposal. We’ll provide you with the facts and basic talking points for reference — you just need to share your voice and make sure it’s heard on this critical issue.

Submit a letter to your local newspapers and expose this dirty energy proposition today.

Many of the first laws protecting our air and water followed the Santa Barbara oil rig disaster of 1969. And now, following the Deepwater Oil Disaster, California’s response can’t be to let Texas oil companies block our clean energy future.

Thanks for all that you do,

Giselle Barry
Communications Director
The Climate Protection Action Fund’s Repower America Campaign

In his State of the Union address, President Obama reiterated his commitment to passing “a comprehensive energy and climate bill… because the nation that leads the clean energy economy will be the nation that leads the global economy.”

This is an extraordinary moment.

There are mere days before the U.S. House of Representatives will vote on the most unprecedented clean energy and climate legislation in our nation’s history. But, our opponents have stepped up a blatant distortion campaign on TV and behind closed doors to scare Congress from taking action.

They know this vote will be close. But, what the special interests have in money and rhetoric, we have in facts and supporters like you.

Let your Representative know that you want a cleaner and stronger economy today. Urge them to support the American Clean Energy and Security Act now.

Call your Representative: 877-9-REPOWER (877-9-737-6937)

When you call, you will be given talking points and simply instructions to be connected to your Representative. Afterwards, help us coordinate our campaign by reporting your call here.

Just a few days ago, Members of Congress who oppose clean energy paraded around a map that distorts the truth about curbing carbon pollution. Not only was the analysis misleading, the computer file still listed the original author — the coal lobby.

And another group, funded by the fossil-fuel industry, released targeted TV ads designed to drum up fear ahead of the vote.

We can’t let the corporate interests fighting to keep the status quo scare us into sticking to rising fuel costs, more job losses and a continued dependence on foreign oil.

Congress has debated clean energy and the climate crisis for decades. Now is the time to act. Let’s make sure the House passes this historic legislation.

Please call your Representative: 877-9-REPOWER (877-9-737-6937)

Thanks for all that you do,

Steve Bouchard
Campaign Manager

Slip back in time 30 years and you’ll see that the green movement was positively anti-nuclear. It seems strange that 30 years on some of the very same people are putting their hopes on nuclear power to prevent global warming. It may be that we have little choice other than to go Nuclear but we have to ask the question “why aren’t we putting more emphasis on cleaner types of energy?” Some governments (Denmark is a good example) have already made great strides in harnessing cleaner and safer forms of energy including both wind farms and solar power systems. They have had great success so you have to ask why other countries are favoring Nuclear Power?

The old concerns about using Nuclear Power have by no means gone away. It is still an intrinsically dangerous form of energy and we still have no viable solution to getting rid of radioactive waste! What is keeping us from moving to other forms of energy?

The general argument is that the cost of moving to cleaner forms of energy is far more costly than staying with fossil fuels. But what of those unspoken costs staying with fossil fuels or switching to nuclear power?

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