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- Did Sony's latest PlayStation 3 redesign just get outed by Brazil's Anatel?
- FCC Fridays: July 13, 2012
- Giada's i53 mini-PC is book-sized, without all the paper cuts
- Simmtronics' $81 XPad debuts, winning the race to the bottom
- 'Extreme' class solar flare heading toward Earth, hopefully bringing nothing but auroras
- Office Next blog is here to answer all your burning questions about the future of spreadsheets
- HP Envy Sleekbook 6z review: an inexpensive thin-and-light with AMD innards
- Merriam-Webster announces Dictionary API for developers, coming to a word game near you
- First solar-geo plant blooms in Nevada's high desert
| Did Sony's latest PlayStation 3 redesign just get outed by Brazil's Anatel? Posted: 13 Jul 2012 04:29 PM PDT Remember that mysterious new PS3 variant that passed through the FCC not too long ago? Although that listing didn't have photos to confirm a redesign, a new one has hit Anatel (essentially Brazil's version of the FCC) with a quartet of pictures in tow. Specifically, it cites models CECH-4011A, CECH-4011B and CECH-4011C, matching up well with the 4K labeling from the aforementioned FCC visit -- if you'll recall, the current PS3 Slim has a 3K model number. According to Technoblog, the the three models point to a shockingly storage-cramped 16GB version, along with 250GB and 500GB variants. While this Anatel document appears to be from Sony, we'd be remiss not to point out that we haven't been able to load the photos as Technoblog has. In terms of looks, apart from appearing extra slim -- and decidedly less attractive -- the system notably seems to be rocking a top-loading disc drive (this would be a first for the PS3). For now, we'd advise taking this potential leak with a grain of salt, but rest assured that we'll inform you if we hear anything official from Sony. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 13 Jul 2012 03:54 PM PDT We here at Engadget tend to spend Phones
Tablets and peripherals | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Giada's i53 mini-PC is book-sized, without all the paper cuts Posted: 13 Jul 2012 03:27 PM PDT We'd have gone with "smaller than a breadbox," but book-sized seems to work just as well, when describing Giada's new mini-PC. The i53 packs an Ivy Bridge Core i5 processor standard (i3 and and i7 versions are also available), 4GB of RAM and a 500GB hard drive into its sub-one kilogram, bookshelf-ready form factor. The system supports USB 3.0 and HD video and comes with a colorful remote control, so you can boot it up from a distance. The i53 should sell for around $520. More info can be found in the press materials after the break.
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| Simmtronics' $81 XPad debuts, winning the race to the bottom Posted: 13 Jul 2012 02:59 PM PDT The marketplace is flooded with cheap tablets at this point. Some of them quite impressive, others are likely to make your tear your hair out. We think its safe to say that Simmtronics XPad will fall firmly in the latter category but, being a high-end pixel-pushing machine isn't the point. The XPad is a highly customizable Android slate designed to be as affordable as possible. The Indian company took the wraps off the product line in Dubai this week, revealing a 7-inch A8-powered machine that puts Ice Cream Sandwich in the palm of your hand for only AED299, or about $81. The company even claimed it could push prices down to about $40, which would make it even more affordable than the elusive Aakash. The race to the bottom isn't over just yet, but it seems like Simmtronics is now the company to beat. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 'Extreme' class solar flare heading toward Earth, hopefully bringing nothing but auroras Posted: 13 Jul 2012 01:57 PM PDT Yesterday, a solar flare set off from the sun, launching a coronal mass ejection (CME) heading toward Earth, and it's set to make an appearance in our fair skies this Saturday. While the wave of charged particles headed our way is much weaker than the most powerful solar flares (like the X28+ gust from 2003), it ranks in the extreme (X) class, and it's already caused a wave of UV radiation that interfered with radio signals, not to mention an uptake in solar protons swarming around Earth. According to SpaceWeather.com, the flare could cause some geomagnetic storms, which could endanger satellites and astronauts in space in addition to possibly interfering with communication signals. That (relatively minor) risk aside, those of you living up north could be in for a pretty sweet light show, so check the skies for the aurora borealis. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Office Next blog is here to answer all your burning questions about the future of spreadsheets Posted: 13 Jul 2012 01:29 PM PDT Microsoft has this really great habit of publicly tracking the development of all its products. Windows 8 has been thoroughly documented over at the Building Windows 8 blog, and now Office will have its time to shine over at Office Next. The site will give the engineers and developers toiling away in Redmond an outlet to provide updates, discuss design decisions and offer peeks at the new features being baked in. It won't be just a place full of bullet lists either, PJ Hough, the VP of program management for the Office Division, promised in his inaugural post that the data and feedback that informs their choices will also be shared -- telling you not just what, but why. Is there anything new to share right now? Sadly no, but it probably won't be long before the pages of Engadget are filled with the minutia of Office 15's development. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| HP Envy Sleekbook 6z review: an inexpensive thin-and-light with AMD innards Posted: 13 Jul 2012 01:00 PM PDT More InfoHP has been fleshing out its Ultrabook lineup as of late, most recently adding the metal-clad Envy Spectre XT to the mix, but the company is also addressing the lower end of the market with its Sleekbook line, announced back in May. Confusingly, these thin-and-light systems look exactly the same as the new Envy-branded Ultrabooks, except that the Sleekbooks are less expensive -- namely because for one reason or another they don't meet Intel's Ultrabook guidelines. One such notebook, the Envy Sleekbook 6z, stands apart from the Ultrabook fold with an AMD Trinity APU -- a spec that helps keep the starting price nice and low at $600. That's not to say that all of HP's Sleekbooks ditch Intel processors, but given the choice between and AMD- and Intel-based model we quickly chose the former. After all, the 6z is the first Trinity-powered system we've had the chance to test, so we were naturally curious to see how it stacks up against recent Ivy Bridge machines -- and we imagine you are, too. So without any further ado, let's get to it. Look and feel At 4.75 pounds, this laptop isn't a featherweight, but then again, its 15.6-inch display does make it one of the larger thin-and-lights we've seen. With a thickness of 0.78 inches, the 6z walks the line between Ultrabook and mainstream systems. The Dell Inspiron 15R is a fatter 1.18 inches, for example, while the 15-inch Acer Aspire V5 measures in at 0.9 inches. Still, it can't hold a candle to a proper ultraportable like the 15-inch Samsung Series 9, which measures just 0.58 inches. Whatever weight class it belongs in, for a $600 laptop the 6z boasts a pretty sweet design, not to mention solid build quality. The aluminum lid and keyboard deck sport a black, brush-textured finish, while the red soft-touch bottom provides a tasteful pop of color (it makes it pleasant to hold and use in the lap as well). Save for some requisite Beats branding above the keyboard and in the upper bezel, you won't find many embellishments or adornments here. All told, it's one of the more understated designs that HP has unveiled over the past few years. While whittled-down machines make the best travel companions, we can also sing the virtues of laptops with a little more meat -- as more to love generally equals a larger selection of ports. The 6z includes an Ethernet port, one USB 2.0 and two USB 3.0 connections, HDMI, and an SD card slot, along with your standard headphone out and mic jack. Optical media fans can configure the machines with an external DVD tray for an added fee. Keyboard and trackpad The 6z's recessed, island-style keyboard has a spacious, comfortable layout. The square-shaped keys provide a satisfying amount of travel, though we found that some keys were stickier (i.e., less likely to register our presses) than others. HP could have extended the keyboard a bit on each side to span the width of the laptop, though our fingers didn't have a hard time finding key buttons like Enter and Shift. While we would appreciate a tad more spacing between the keys, they don't feel cramped, and the recessed design feels more ergonomically sound than a flush layout. As it happens, there was no backlighting on our review unit, though it is offered as an upgrade option. What is it about trackpads that makes them so prone to awfulness? Okay, the Synpatics ClickPad on the 6z isn't atrocious, but considering how often you interact with this part of the system, its shortcomings add up to one very prominent item on our cons list. In general, the trackpad offers too much resistance. While it often didn't register our gestures, though, it sometimes was overly sensitive, interpreting our pinch-to-zoom as a command to magnify text by 200 percent. As with other recent HP machines, too, the built-in button is a bit stiff. It also occasionally mistakes left clicks for right clicks, but for the most part it got them right. Display and sound Having a modest resolution of 1,366 x 768 doesn't automatically make a laptop display bad, and indeed, the Sleekbook's LED panel is decent for what it is. Colors on web pages and in video clips look balanced, if not especially vibrant. In a side-by-side comparison with the Lenovo IdeaPad U310, images on the 6z looked bright and crisp, while the IdeaPad's screen takes on a decidedly bluish overcast. As you'd expect of a garden-variety LCD screen, though, viewing angles aren't exactly superb. Tilting the display more than an inch forward or moving to the left or right of center will cause some serious wash-out, but you could probably host a two-person viewing party without a problem. So no, you're not going to rave about this display, but unless you make a blind purchase, thinking you're getting a premium product, you likely won't be too disappointed. The 6z is part of the Envy line (heck, it's made by HP) so Beats Audio is naturally on board. And marketing hype aside, that's actually a good thing. The technology offers a much better listening experience than the tinny, canned sound on most other laptops at this price. There's a limit to that boost in audio quality, though -- you won't forget that you're pumping sound through a notebook, and a more budget-priced one, at that. Still, the built-in subwoofer delivers some pleasing bass notes. Above all, though, you might appreciate the sound most of all when listening with headphones -- at least, that's the setup we ultimately preferred. Performance
The dual-core application processing unit is one of the 6z's defining specs, since it's not every day we test a laptop that packs something other than Intel innards. And while we were eager to see how the processor and AMD's Radeon Graphics stack up against Intel-powered notebooks, the 6z's benchmark scores fall painfully short of the competition. The Sleekbook bombed the PCMark Vantage test, scoring almost 5,000 points lower than mid-range systems such as the IdeaPad U310. (In fact, these scores match what HP's own testing team has been seeing.) As you'd expect, the 500GB 5,400RPM HDD can't hold a candle to an SSD, or even the sort of hybrid hard drive you'll find in $750 and $800 Ultrabooks. All told, it notched max read and write speeds of 103 MB/s and 104 MB/s, respectively, which is pretty dismal, considering what you can get for a little more money. When it comes to graphics, though, the difference between the 6z and some mid-tier Ultrabooks is fairly negligible: HP's laptop notched 3,625 in 3DMark06, which puts it in the same ballpark as the IdeaPad U300s (3,651) and the Toshiba Portege Z835 (3,601), both with Intel HD Graphics 3000. Anecdotally, the 6z had no trouble handling web surfing across two browsers, music streaming through Spotify and all the typing that went into writing this review. Cold-booting into Windows 7 takes 47 seconds, which should drive home the point that this is no Ultrabook, even though it's sold alongside them on HP's site. You likely won't notice the delta between the APU's performance and higher-powered Ivy / Sandy Bridge chips until you start gaming. In World of Warcraft at native resolution, the laptop managed just 20 frames per second, which is basically unplayable. In Batman: Arkham Asylum, it notched a more respectable 45 frames per second, but you'll have to accept murky, pixelated visuals as a trade-off. Battery life
The Sleekbook 6z doesn't offer Ultrabook-like endurance, but it hangs on longer than most mainstream 15.6-inch systems. On our battery rundown test, which involves playing a looped video with WiFi on and display brightness set to 65 percent, the laptop lasted five hours and 51 minutes. That's roughly in line with the five hours HP got on its own video playback test, and it's a better showing than what we've saw from the IdeaPad U310 Ultrabook (4:57) and the HP Envy 15 (4:07), another 15-inch notebook. Software Though the 6z carries HP Envy branding, it omits the complimentary copies of Adobe Photoshop Elements and Premiere Elements found on higher-end systems like the Spectre XT and the Envy 14 Spectre. That's not too surprising given this laptop's more budget-friendly price, but -- just sayin' -- it would have sweetened the deal if HP included those programs. While you won't find those Adobe applications, you will encounter plenty of other software. The 6z comes with heaps of bloatware, including a sickening number of pre-installed games (almost 50), many of which take you to the online HP Games hub and require to you to sign into Facebook. HP also includes its full suite of utilities, such as Application Assistant, Connection Manager and Support Assistant. The 6z includes Skype, CyberLink DVD and a 60-day trial of Norton Internet Security (you'll want to disable the pop-ups after first booting into Windows 7). Configuration options and the competitionOur 6z comes with a dual-core AMD A6-4455M processor clocked at 2.1GHz with 4GB of RAM, Radeon HD 7500G graphics and a 500GB hard drive. That configuration will set you back $630, though the entry-level model, with the same specs save for 320GB of storage versus 500GB, costs $600. The top-of-the-line version -- with Windows 7 Professional instead of Home Premium, a quad-core AMD A10-4655 APU, 8GB of RAM, a 500GB hard drive, a DVD drive and a backlit keyboard -- goes for $1,040. We have to say, HP's Sleekbook branding is a bit confusing. The 6z isn't an Ultrabook, but its weight and thickness undercut most mainstream 15-inchers, so your other options will likely be thicker, similarly priced and higher-powered or thinner, higher-powered and much more expensive. If you're looking for a 15-inch Ultrabook, the HP Envy Ultrabook 6t is one of your cheapest bets. Unlike the 6z, it ships with an Intel processor (up to a Core i5 Ivy Bridge CPU clocked at 1.7GHz), but its specs are otherwise similar: 500GB of storage, up to 16GB of memory and an optional DVD tray. The 6t starts at $800, and though it carries the Ultrabook distinction, it has the same weight and dimensions as the 6z -- along with the same aluminum design. It's bulkier, yes, but Dell's new Inspiron 15R, tipping the scales at six pounds and measuring 1.18 inches thick, has some more solid specs: a $600 configuration includes a Core i5 Ivy Bridge processor, 6GB of RAM, 500GB of storage and the Adobe Elements and Premiere bundle that was omitted from the Sleekbook 6z. The 15.6-inch Toshiba Satellite C855D is another similarly priced option that adds some weight but offers more features. For $600, you get a Core i3 CPU, 4GB of RAM, a 640GB hard drive and a DVD drive -- all in a 5.4-pound package. Circling back to HP's new lineup one last time, we think it's worth mentioning that the 14-inch HP Envy Sleekbook 4t offers similar specs to the 6z in a lighter, thinner package (just under four pounds, 0.78 inches), but it trades the AMD APU for an Intel processor; a $750 configuration gets you a Core i3 Ivy Bridge CPU with 4GB of RAM and a 500GB hard drive. If screen size is at all negotiable, you'd be better off shelling out a bit more for this model. Wrap-up It's pretty clear that HP's new Sleekbook line is targeted toward those who fancy a responsive, high-performing thin-and-light but don't want to shell out a grand or more for an Ultrabook. We appreciate the company's effort to temper features with price, and while the 6z is capable enough to handle your everyday computing needs, the underpowered AMD APU isn't a great performer -- and you can do better without spending much more, as even the Envy Ultrabook 6t starts at just $800. For what it's worth, though, folks who do opt for the Intel-approved version will enjoy the same understated design and comfortable keyboard (and hopefully soon-to-be-refined touchpad), so it's definitely worth looking at HP's Envy line anyway if the performance of this particular unit is the main thing giving you pause. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merriam-Webster announces Dictionary API for developers, coming to a word game near you Posted: 13 Jul 2012 12:32 PM PDT Merriam-Webster just announced its new Dictionary API, which gives developers access to the full dictionary and thesaurus, along with more specialized content like medical, Spanish, ESL and student-targeted vocabulary lists. The API will let app makers integrate word definitions, etymologies, audio pronunciations and more. While this content will no doubt make it into a slew of educational apps, Merriam-Webster says it will also enhance word games, so maybe Scramble and Words with Friends will finally start accepting those obscure three-letter words you have up your sleeve. MERRIAM-WEBSTER UNLOCKS AMERICA'S FAVORITE DICTIONARY TO DEVELOPERS WITH NEW API SPRINGFIELD, MASS., July 12, 2012 - Today Merriam-Webster announced the launch of DictionaryAPI.com, their API Developer Center, unlocking America's most trusted dictionary content to developers worldwide. The Merriam-Webster Dictionary API gives developers access to comprehensive dictionary and thesaurus content from a wide range of best-selling references including Merriam-Webster's Collegiate® Dictionary and its popular series of grade-appropriate student dictionaries. Specialized resources include medical, Spanish-English, and English-language learners' dictionaries, thus allowing developers to integrate content into applications at appropriate age and learning levels. "We want to empower developers with relevant, up-to-date content," says John M. Morse, President and Publisher at Merriam-Webster. "With this new API, we are providing a rich environment where developers can easily tap into authoritative content encouraging digital innovation for a wide range of products, including word games and creative new interactive educational apps, for any market- children, adults, or language learners," The Merriam-Webster Dictionary API includes access to definitions, audio pronunciations, example sentences, etymologies, synonyms and antonyms, and more. For more information please visit http://dictionaryapi.com. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| First solar-geo plant blooms in Nevada's high desert Posted: 13 Jul 2012 12:00 PM PDT Drive west on US Route 50 through a stretch of Nevada highway known as "The Loneliest Road in America" and you'll eventually find yourself in the rural county of Churchill. Once a solitary leg in the Pony Express route, irrigation transformed swaths of Churchill's high desert areas into thriving agricultural communities more than a century ago. Fast forward to today and Churchill finds itself playing host to yet another interesting dichotomy -- a first-of-its-kind power plant that generates electricity by harvesting renewable resources from both earth and sky. It all started with the development of Enel Green Power's 33-megawatt Stillwater geothermal plant in 2009. The technology works by drilling wells to access hot water trapped underground and converts the resulting heat energy into electricity. The successful launch of a geothermal facility is usually reason enough to celebrate, given the high cost and upfront risk that comes with drilling and developing the resource. The region, however, also happens to have an abundance of one more renewable asset: good, old-fashioned sunlight. Northern Nevada's annual average of more than 300 days of sunny weather already helped Churchill score a major coup in 1996 when it landed the Navy's Top Gun fighter pilot program. Traces of the Navy Fighter Weapons School -- now located at Fallon Naval Air Station just 15 miles away from Enel's Stillwater facility -- can easily be seen via jet trails that paint the skies above the plant like white streaks on blue canvas.
With a steady supply of sunshine and more than 100 acres of land at its disposal, Enel decided to conduct an experiment. It installed a cluster of 89,000 solar panels across the Stillwater facility's dry landscape. The result is what both the Italian company and the US Department of Energy call the first hybrid solar-geothermal plant of its kind in the world. The solar facility, which was formally inaugurated in May, now adds 26 megawatts of peak energy to the facility -- enough to power 16,000 homes prior to factoring in the geothermal plant's output. For an industry still struggling to secure a foothold against cheaper, conventional sources of energy, such as natural gas, proponents say the creation of out-of-the-box projects such as the Stillwater hybrid plant are crucial in moving renewable energy development forward. "One of the main challenges is making renewable energy really sustainable and this plant is a great example of a perfect and symbiotic combination of two complementing energy sources that people can rely on daily," said Peter Krause, segment manager of Siemens' Industry Automation Division. "Without projects showing that something like this works, I don't think we can get the traction we need in the industry -- or the true reach that renewable energy could have in the future." An electric combination? The concept for a solar-geo plant has been percolating for some time, said Francesco Venturini, CEO of Enel Green Power's North America operations. "The idea has been out there for a while," Venturini said. "Other companies have tried to do it in a smaller size but (we're) the only ones to be able to do it in this scale."
The logic behind combining solar and geothermal power makes sense when one thinks about the strengths and weaknesses of both technologies. In the last few years, solar power has grown by leaps and bounds, thanks to a quick development turnaround, relatively low upfront risk for investors and a sharp drop in the price of solar panels. In 2011, for example, new solar capacity worldwide grew by 54 percent to 28 gigawatts, according to data from Bloomberg New Energy Finance. Utilities also like solar because it delivers the most electricity during hours of peak energy demand. Given how power companies have to operate 24 hours a day, however, they also require a constant and stable energy source. "If there's cloud cover solar panels don't work as efficiently," said Michael Yackira, CEO of major Nevada utility NV Energy. "Of course, when it's dark, there's no solar at all." This is where having a geothermal component comes into play. High upfront development costs and the risk of multimillion-dollar losses from a project that does not pan out have caused geothermal to lose ground to solar and wind power. If a project is successful in finding a viable underground resource that can produce the necessary megawatts, however, geothermal becomes the more ideal resource. "Geothermal isn't as dependent on Mother Nature as wind and solar so it's on all the time," Yackira said. "It also has a lower price, which is great for our customers. We would love to have as much geothermal power as we can get." Although combining an intermittent power source such as solar or wind with a 24/7, or "baseload," source isn't necessarily new, the DOE says that the Stillwater facility is the first to use renewable sources for both. Typically, baseload capacity is provided through conventional sources such as coal and natural gas. As the race for developing renewable energy technology heats up worldwide, however, projects such as Stillwater are no longer a convenience but a necessity, said US Energy Secretary Steven Chu.
"As the first of its kind in the world, this project demonstrates how we can tap renewable energy sources to provide clean power ... and deploy every available source of American energy," Chu said. "The facility is expanding domestic renewable energy sources and helping ... build the infrastructure we need to stay competitive in the global race for clean energy technologies." The DOE also has another reason for touting the project. The Stillwater plant received $40 million from the federal government's American Recovery and Reinvestment Act -- the same program that was put through the wringer last year following the Solyndra debacle. After receiving a $535 million loan guarantee through the Recovery Act in 2009, Fremont, California-based Solyndra filed for bankruptcy two years later. The Solyndra scandal is seen by those in the renewables sector as a case study for the highly politicized atmosphere surrounding their industry in the United States. Paul Thomsen, public policy manager for international geothermal developer Ormat Technologies, says he has seen the impact of politics firsthand after being named in a report by the House of Representatives' Oversight Committee. Thomsen lamented the blanket coverage that incidents such as Solyndra receive while successful projects barely get a peep. Thomsen mentioned three Ormat projects in Nevada -- McGinness Hills, Jersey Valley and Tuscarora -- that are slated to generate 121 megawatts of total power once they all come online. The projects received $350 million in partial loan guarantees from the Recovery Act. "With the Solyndra issue, so much of the press was on the negative side of the loan guarantee program," Thomsen said. "The federal government didn't even give us money for those three projects. It only ensured that we got a lower interest rate (for our loan)." Political football Standing just a few feet away from the Stillwater facility's battery of solar panels, Nevada Governor Brian Sandoval is all smiles. Sandoval remembers attending the second grade in the nearby town of Fallon just 10 or so miles away. Now he's being subjected to learning of a more technical kind. This includes details about how Siemens supplied its latest photovoltaic inverters and medium voltage step-up transformers for the project. According to Krause, the PV inverters -- which convert the DC power from the PV solar modules to AC power that can be fed to the grid -- have a conversion efficiency rate in excess of 98 percent. The project was a top priority for Sandoval, who launched a big push to beef up Nevada's green sector after the housing market crash and 2008 global financial crisis brought down its four major industries -- gambling, tourism, housing and construction.
"This facility was permitted and brought into production in just six months," Sandoval said. "When people throughout the globe see what we accomplished here, they will see that our state is setting a good example." Nevada's renewable portfolio standard target of 25 percent by 2025 has gone a long way in expanding the state's green sector in recent years. Northern Nevada, the center of the state's geothermal activity, already gets about 24 percent of its energy from renewable sources -- far above the national average of 13 percent. The Nevada legislature has also enacted several measures for fast-tracking renewable energy development in the state. The state's push for green energy, however, also exposes some of the challenges for the sector. Efforts to boost transmission capacity and install new power lines statewide are proceeding a bit slower as environmental concerns are weighed. One is the impact of development on declining sage grouse populations. The solar-geo plant itself is near the Stillwater National Wildlife Refuge, a wetland that attracts more than 20,000 waterbirds such as black-necked stilts and long-billed dowitchers. Nearly 48 million acres of the state -- 67 percent of Nevada's land -- is also administered by the Bureau of Land Management. Many of the state's renewable resources are found within BLM land, requiring federal approval for any development. Meanwhile, the global financial crisis of 2008 continues to cast a shadow on development as securing investment capital and financing remain difficult. For renewable startups, the impact boils down to high capital costs, which can be seen in the form of high interest rates for loans. The impact is especially being felt in the geothermal sector due to its higher upfront risk during development. Just doing exploratory drilling to verify a geothermal resource can cost up to $15 million, according to a risk mitigation report by Deloitte Development LLC. The sum is large enough to discourage potential investors who have concerns about a project failing to find sufficient geothermal resources after spending all that money. "We're hearing from a lot of companies about how tough things are right now across the board," said Karl Gawell, executive director of the Geothermal Energy Association. "When you look at longer-term trends where you have climate change and energy security driving the market, I think people in the industry feel fairly comfortable. It's with the shorter-term trends where you see a lot more uncertainty."
Support from the federal government in the form of tax credits and loan guarantees helped lead to a boom in renewable projects in the last few years. Those programs are set to expire after 2013 and likely won't be renewed due to the political football being played in Washington, D.C., developers said. "There might be a chance for an extension, but no one is counting on it," said Brian Fairbank, president and CEO of Vancouver-based Nevada Geothermal Power. The renewable energy policy's murky future will likely lead to a slowdown in development in the short term. The fact that 2012 is a presidential election year in the United States makes the outlook even less clear, industry insiders say. Just as the unknown can spook the stock market, uncertainty can have a serious impact on developers with a keen eye on their bottom line. In the case of companies such as Enel, inconsistent support for the clean energy sector could mean holding back on potential projects as it balances its role as a developer with the need to maximize returns for its investors. Geothermal development would especially be affected because it presents the highest development risk compared to other sources of renewable energy. "To be competitive, we need some support, and in the United States, the support comes and goes," Enel's Venturini said. "As developers... we need a better understanding of what the next steps are going to be and what the future is going to look like. For a project like this we invest hundreds of millions of dollars, and before you make that big an investment, you want to make sure that the return for the stakeholders is there." This piece originally appeared in Distro Issue #47. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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