Florida Governor Charlie Crist has signed a comprehensive alternative energy bill that is being touted as putting his state on the right foot for beginning true energy independence, while being realistic.

This story from the Walton Sun says the new law will encourage investments in alternative and renewable energy technology and will help reduce greenhouse gases:

This follows a year after the governor issued three executive orders with the intent of reducing greenhouse gases, increasing energy efficiency and removing market barriers for renewable energy technologies such as solar and wind energy.

The newly passed energy bill puts a “more realistic tone” on it, but by issuing those executive orders he has kick started the whole process for alternative energy in Florida, said Erickson.

The article says Crist has also recommended for the 2008-2009 fiscal year a $200 million energy and climate change package, that includes $50 million for solar, wind and other renewable energies; $42.5 million to promote and develop biodiesel and ethanol in the state; and $107.5 million to encourage and develop green industries.

The world’s investment in clean energies - solar, wind and biofuels - jumped an amazing 60 percent from 2006 to 2007… thanks to rising oil prices and changing climate rules.

This story from Bloomberg.com says the information came from a United Nations Environment Program report:

Wind power attracted the most financing at $50 billion, according to a report today from the Nairobi-based UNEP. Overall, investment in clean-energy and energy-efficiency industries rose 60 percent from 2006.

Solar power attracted $28.6 billion in new capital in 2007, and the industry has more than tripled each year, on average, since 2004, according to the UNEP report. Investment in energy efficiency reached a record $1.8 billion, a 78 percent increase from 2006.

While big wind farms are part of the U.S. Department of Energy’s plan to have wind power make up 20 percent of the nation’s energy supply by 2030. But at least one small wind power generator is saying, “Don’t forget about the little guys.”

A press release from Kentucky-based Wind Energy Corporation, which uses a unique sail-like design (pictured right) for its wind turbines that is more friendly to birds and bats, says the company’s CEO, James R. Fugitte, says the DOE’s “20 Percent Wind Energy by 2030″ report puts too much focus on large-scale wind farms, new transmission lines and an overall major expansion of the electricity grid system in the U.S.:

“Utility-scale electricity, whether provided by fossil fuels or renewable sources like wind and solar, is not the sole answer to what ails us,” said Fugitte. “The best way for communities, institutions and commercial enterprises to mitigate rising fuel costs is to invest in on-site renewable energy generation assets that can work in conjunction with their traditional sources of power. On-site ownership also greatly accelerates attention to conservation.”

Wind Energy Corporation is a pioneer in the untapped commercial and community distributive energy market. “Distributive” means providing power directly to, and under the control of, consumers and businesses. While the government is focused solely on large wind farms designed to sell electricity into the overtaxed national power grid, Wind Energy Corporation is bringing an alternative wind energy solution to the marketplace. (more…)

One of the nation’s largest power companies has added to its wind energy holdings. Charlotte, North Carolina-based Duke Energy has spent $240 million to acquire Vermont-based wind energy company Catamount Energy Corp.

This Reuters story has more:

Catamount has about 300 megawatts of renewable energy in operation, as well as about 1,750 megawatts of development interest in the United States and the United Kingdom.

It said that combining Catamount with Tierra will result in an entity with more than 5,000 megawatts of wind energy under development in 12 states and about 500 megawatts of operating assets by the end of 2008.

A North Dakota commission is recommending that ethanol, biodiesel and wind play a larger role in that state’s energy future.

The Dickinson (ND) Press reports that the state’s EmPower Commission has issued 10 major goals with renewable fuels at the forefront. Here are some of the goals:

*Support the nation’s 25X25 Initiative to derive at least 25 percent of all energy produced from renewable sources by 2025.

*Build new biodiesel plants in North Dakota to produce 135 million gallons by 2015.

The commission, created by the state legislature last year, has worked for the last 10 months to come up with these recommendations and suggestions that also deal with conventional energy sources in North Dakota.

Duke Energy Ohio is seeking proposals for renewable energy resources. The energy company says it’s looking to begin delivering energy through more renewable means sometime between 2009 and 2012. The effort falls in line with Ohio’s new renewable energy portfolio standards.

Types of renewable resources that would qualify:

— Wind energy
— Solar photovoltaic or solar thermal energy
— Geothermal energy
— Fuel derived from solid wastes not mainly due to combustion
— Biomass energy
— Hydroelectric power
— Biologically derived methane gas
— Energy derived from pulping/wood manufacturing
— Fuel cells
— Storage facilities that use off-peak power from renewables.

The recent Ohio energy law requires Ohio utilities to generate 50 percent of their renewable power from facilities located within the state.

General Electric has released a study that says the taxes paid back to the U.S. government are more than the tax incentives given to wind energy companies by the government.

This story on CNNMoney.com says the study comes out just after the U.S. Senate failed to move forward a $57 billion renewable energy tax incentive package that includes renewing the production credit for wind energy production that expires January 1, 2009.

The GE unit estimates wind farms built last year will provide $250 million in tax revenue to the U.S. Treasury. Losses from the incentive program will be offset by income tax revenue from the wages of workers, project vendors and the project itself once the 10-year credit period expires, according to the GE study.

The production tax credit provides wind farms with a 2.1-cent credit for every kilowatt-hour produced during the first decade of operation.

GE has quite a vested interest in the success of wind energy. It makes up 80 percent of GE Energy Financial Services’ more than $3 billion renewable energy portfolio that includes 34 wind farms in 13 states.

A European power company has struck a record-breaking deal for wind power in Europe and North America.

This story from the Wall Street Journal says Spanish-based Gamesa SA has agreed to provide wind turbines, construction and services valued for $9.7 billion to Iberdrola Renovables SA, the renewable-energy unit of Spanish power utility Iberdrola SA:

The agreement is the largest-ever wind-power deal, Iberdrola Renovables said. The turbines will have a joint potential to generate 4,500 megawatts of electricity in wind parks in Europe, Mexico and the U.S., said Gamesa, which is based in Spain. Gamesa is one of the world’s largest wind-turbine makers.

Iberdrola Renovables said it will acquire wind projects currently run by Gamesa in the United Kingdom, Mexico and the Dominican Republic for €65 million (about $101 million).

Iberdrola Renovables and Gamesa will also develop and run jointly wind farms in Spain and internationally.

Minnesota-based High Country Energy, along with its managing company National Wind, has made the nation’s first intrastate public offering of a wind project’s securities… a move that is expected to help local, rural communities invest in the green energy source.

This company press release says High Country Energy is using Delphi Financial Corp., an investment banking firm specializing in raising capital for community-based renewable energy projects, as the placement agent for the offering. It’s expected to help High Country Energy, to build more than 300 megawatts of community-owned wind farms in Dodge, Olmsted and Mower Counties, Minnesota:

“This offering can be made available to interested investors throughout the state of Minnesota, however it was very important to all of us in High Country to ensure that landowners within the project footprint have the first opportunity to invest,” says Barry Rogne, Chairman of the High Country Energy board of advisors. “This offering is consistent with our company’s goals of sharing ownership with a large cross section of our community.”

“An intrastate public offering is a way the local, rural communities can become a part of this trend. In comparison to a private placement offering, which is typical in the renewable energy industry, this intrastate public offering will allow us to offer investment opportunities to a greater number of people, as long as they are residents of Minnesota,” says Ryan Pelstring, Vice President of Capital Markets, Delphi Financial Corp.

A growth sector focused investment bank is hosting its annual Alternative Energy Conference today at the Mandarin Oriental Hotel in New York. The Thomas Weisel Partners one-day event will focus on the opportunities and challenges of the Alternative Energy industry for 2008 and the future.

The conference will showcase presentations from over 30 established and emerging public and private companies, including those engaged in alternative fuels, energy efficiency, fuel cells, smart grid technologies, solar power, and wind power.

“Rising energy prices, political uncertainty in oil producing regions and increased environmental standards and regulations are creating tremendous potential for alternative energy solutions,” said Keith Gay, Head of TWP’s Research Group. “We believe the management teams will provide investors with a unique look into various sectors of the alternative energy industry and a chance to find out what is on the horizon for 2008.”

It looks like alternative energy is generating large fiscal interest.