Thissmart functionality is critical for integrating key elements of a clean energy future, such as renewable power generation and electric vehicles. Unlike traditional coal-fired power, renewable power can be decentralized (multiple wind farms instead of one massive coal-fired power plant), and is often weather dependent. Conventional grid systems are designed to transfer a steady and predictable flow of power from point A to point B. When a thunderstorm reduces solar panel output or increases wind turbine output, those power fluctuations can trigger blackouts and burnouts in a conventional grid system. But a smarter grid can adjust, either by storing excess energy in batteries until it is needed, or by moving power more efficiently across longer distances.
The only way Chinese leaders can keep their economy growing at current rates is to bring in more renewable energy power onto their national grids. Their latest targets call for the country to increase renewable energy to 9.5 percent of overall consumption by 2015, and a smarter electricity grid will be critical for integrating those supplies into the system.
As is the case throughout the green energy sector, Chinese leaders are betting that if they can roll out a smarter electricity grid before the United States, China can not only address their domestic energy challenges but also get a head start on technology standardization. And they see standardization as a critical step toward moving up the value chain and playing a stronger role in global technology markets.
In June 2010 State Grid issued its own proprietary equipment standards for 22 different critical smart grid technology solutions. Equipment manufacturers must abide by those proprietary standards to become State Grid vendors, and since State Grid is the biggest smart grid customer in the world, equipment manufacturers have a strong incentive to comply.
In most markets, equipment based on proprietary standards such as the ones State Grid would like to see developed for its forthcoming smart grid do not have good economies of scale because their equipment is expensive to produce and less competitive compared to equipment based on global standards. State Grid is betting that the Chinese market is big enough (and they themselves control so much of it, including both transmission and distribution) that they can use their massive purchasing power to achieve economy of scale and drive down manufacturing prices on their own.
One thing we can do to improve U.S. competitiveness is to speed up our own standardization program [PDF]. Most U.S. smart grid solutions are not yet based on common standards. That means that just like the pre-interoperability computer era (when your desktop computer, monitor, keyboard, and printer would only work together if they were all from the same manufacturer), U.S. smart grid technologies are hard to mix and match, and that drives up prices and stifles competition.
The United States is working to improve interoperability [PDF], but the process is very slow. China boasts only two utility companies, but there are more than 3,000 in the United States, and those companies are not used to working together. Our utility regulators are also not used to dealing with technology standardization.
The federal government can speed up interoperability by playing a stronger coordinating role at the national level to help our state and local utility regulators move toward common standards and interoperable (and therefore cheaper) equipment. The United States has already figured out how to do this in telecommunications and information technology; we just need to apply the same lessons to the electricity sector.
One thing the Chinese get right is using policy signals to stimulate private investment, and that is something we can do in the United States as well. When Chinese leaders included smart grid development in the 12th five-year plan and State Grid announced its ambitious spending plans, those moves kicked off a new wave of private Chinese venture capital investments in their domestic smart grid technology companies.
To take advantage of this lead, we should work toward clarifying our standard-setting process and removing existing policy bottlenecks to smart grid deployment. Then, like the Chinese, we can leverage a stronger, smarter grid to decrease our dependence on foreign oil, to drive innovation, to create jobs, and to give consumers new options for saving money on their utility bills.
FGC Plasma Solutions won the $50,000 Department of Energy Student Prize and the $50,000 Aviation Clean Energy Award, sponsored by Boeing, United, and UOP Honeywell, at the regional Clean Energy Challenge in Chicago in April. The company is solving a 30-year-old engineering challenge: using a plasma to assist in igniting fuel inside a jet engine.
Greenlite Technologies took in $10,000 by winning the Spartan Challenge Entrepreneurial Competition and a $75,000 People, Prosperity and the Planet phase II grant from the Environmental Protection Agency. The grant follows an earlier $15,000 phase I grant from the EPA.
With the growing body of medical data being generated, al Dubhaib, who is in the BS/MS systems engineering program, saw the need and opportunity to provide patients, healthcare workers and insurers with the best evidence-based treatments, at the touch of a button.
College Hamper, a laundry courier service for college campuses, was awarded a total of $7,000 after taking third place in the Spartan Challenge and second place in the regional Entrepreneurship Education Consortium IdeaLabs Competition.
Answenergy, won the sixth annual Saint Gobain Student Design Competition and $9,000 in prize money. The company, which also competed in the regional Clean Energy Challenge finals in April, designed a portable device that harvests the energy of motion to power a cell phone or other electronics.
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Ideally, you should read this brochure, Marriage and Money, before your wedding day. However, if that's not the case, it's still important to sit down and discuss the main issues on how you will move forward to build financial stability together. Source: Lightbulb Press and the Investor Protection Trust
This helpful guide provides an overview of the financial decisions that are part of starting a new job. Included is essential information on choosing benefits and using the power of your paycheck, as well as guidelines for making informed investing choices.
This parent's guide called How to Raise a Money Smart Child is resource that discusses how to raise a child who is savvy about money; includes age-appropriate, family activity ideas. Important topics include:
Market in 5 Minutes is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes. Apply for daily AM access by clicking here or email
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Asian stocks were mostly mixed on Thursday with a notable exception: Japan. The Nikkei index lost 2.32 percent, its worst daily decline in a month, after the country's Prime Minister Shinzo Abe officially moved a planned sales tax hike forward by two years. This is raising concerns of a credit rating downgrade and the sustainability of the country's public debt, which exceeds 200 percent of its GDP.
Oil prices were trading flat as representatives from OPEC nations also gathered in Vienna. Early reports indicate Iran still has no intention of agreeing to any cutback in output as the country looks to regain market share it lost during years of economic sanctions.
Musk offered his Apple Car prediction to Walt Mossberg and Kara Swisher at the Code Conference, where he claimed that Apple's ambitions, while admirable, were falling behind in a fast-paced industry: "I think it's great they're doing this, and I hope it works out. It's just a missed opportunity. It's a couple years... they'll make a good car and be successful."
A rematch of last year's NBA Finals tips off tonight as the Cleveland Cavaliers take on defending champion Golden State Warriors.
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SINCE in our age commerce and industry absorb most of the practical energy of thepeople, the men that are foremost in these activities have a certain ascendancy, similarto that of warriors in a military age.
Although this sort of men is not sharply marked off, it is well enough indicated by theterm capitalist or capitalist-manager class; the large owner of capital being usually moreor less of a manager also, while the large salaries and other gains of successful managerssoon make them capitalists.
That these are a very small class in proportion to their power is apparent, but not,perhaps, in itself, so fatal a defect in the system that permits it as many imagine. In sofar as concentration of control means that wealth is in the hands of those who understandhow to use it for the common good, and do in fact so use it, much may be said in itsfavor. We are all eager to entrust our property to those who will make it profitable tous; and society, under any system that could be devised, must probably do the same. But wemay well ask whether there is not some more adequate means than we now have of gettingthis trust faithfully executed.
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