Market News

 July 21, 2010
Countries promise action on clean technologies

  Government representatives attending the two-day Clean Energy Ministerial meeting in Washington DC have promised action on over ten initiatives aimed at promoting energy efficiency and clean energy.

The 24 countries, including the EU, the US, Canada, China, Japan, South Korea, India and Russia, taking part in the meeting account for around 80% of global energy consumption.

The United States, the United Kingdom, Japan, Russia and 20 other countries participating in the Ministerial will work collaboratively on the projects, which include deploying electric vehicles, smart grids, solar-powered lanterns and efficient household appliances, said U.S. Energy Secretary Steven Chu, who hosted the summit

The initiatives pledge to improve the energy efficiency of appliances and buildings and speed up the deployment of smart grid technology, electric vehicles and renewable energy in the developing world.

Initially, the Super-efficient Equipment and Appliance Deployment (SEAD) initiative will focus incentives and enforcing tighter standards for lighting and TVs, which make up around 15% of household energy use.

A group of eight companies, including Wal-Mart, 3M, Marriott International, Dow Chemical and Nissan, along with Massachusetts Institute of Technology will pilot a Global Superior Energy Performance (GSEP) partnership to create efficiency standards for buildings and industrial facilities.

Meanwhile, the UK - led by Secretary of State for Energy and Climate Change, Chris Huhne - and Australia have promised to work together to advance carbon capture and storage technology. A set of recommendations for accelerating its use will be presented at the next ministerial meeting in 2011 in the United Arab Emirates.

The US, India and Italy, which has just committed $10 million to the project, will cooperate to bring solar projects to developing nations.

Ultimately, the initiatives will aim to eliminate the need to build more than 500 mid-sized power plants over the next 20 years.

"The Clean Energy Ministerial has brought together leaders from around the world to take unprecedented actions to deploy clean energy technologies - from energy efficiency to renewable energy to smart grids to carbon capture," said Energy Secretary Chu.

Source: www.energyefficiencynews.com
Source 2: www.energy.gov