BP & Home Depot
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BP, a major oil company and the largest producer of solar energy systems, is starting to team up with Home Depot to further push out solar systems to the household, as the head of BP, Lord Browne, discussed at the Brookings Institution recently.
tompaine.com
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Electricity demand is growing rapidly. Between now and
2020, more than 40 percent of all the power generation capacity in the
world will be replaced or built for the first time as stations come to the
end of their lives and as new capacity is built to meet growing needs. So
this is a moment of great opportunity.
We expect the installed generation capacity of renewable and
alternative power to grow threefold by 2020. Worldwide, we anticipate a
market to build around 230 gigawatts of new alternative generation. We
also expect the installed capacity of gas-fired power stations to nearly
double in the same time. The best estimate is that this market will be
worth some $600 billion worldwide.
So we in BP see a business opportunity, and we are making
plans to seize that opportunity. Over the next 10 years, we aim to invest
around about $8 billion in those different technologies, on a step-by-step
basis.
But this is not a business built on the assumption that public
policy will change. All our plans are built on the basis of existing
policy. Our only policy goal is a fair and transparent system which
allows all forms of alternative energy to compete on an equal footing.
We have detailed plans for the next three years which more
than double our current level of spending in this area. And over those
three years, we will take products to the market, giving states, local
utility commissions, and businesses a greater choice on how carbon
intensive their electricity generation will be. We'll make it easier for
households to utilize solar energy through innovative offers such as
Solar Home Solutions with The Home Depot, and with our BP Solar Energy
Tile for residential roofing.
Our aim is to become the leading player in alternative energy
in the power sector on a global basis.
brookings.edu |
