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Reining in solar incentives has also slowed PV installations in Italy, now the third-ranked country in overall capacity with 17,600 megawatts. FIT rates for new PV plants were reduced beginning in mid-2011 and eventually eliminated in mid-2013. But PV system costs in Italy have fallen by 56–70 percent over the last five years, depending on size, a positive sign for PV competitiveness after the FIT. A recently-finished 700-kilowatt rooftop system on an Ikea store in Pisa, one of the first unsubsidized projects, will generate electricity at a price that rivals or bests the grid average. More specifically, “the country has 2.6 million people involved in the renewable energy trade” and has 14 gigawatt Solar photovoltaic generation installed to convert solar power to electric.

PV capacity in 2013 came online in California, long the leading solar state. In addition to small residential systems, many large solar parks are operating or under construction in California, including the two Solar Star projects slated for completion in late 2015. With a combined 580 megawatts, these two plants are expected to generate enough electricity for 250,000 homes. Arizona, which added 420 megawatts of PV in 2013, boasts the 290-megawatt Agua Caliente project outside Phoenix. Rounding out the top five states in 2013 were North Carolina , New Jersey, and Massachusetts . With its 2013 PV boom, Asia unseated Europe to become the leading region in annual installations.

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Audi’s arch-rival BMW has launched its “i” series of electric models, including a 34,950-euro ($47,400) city car while Mercedes, whose parent Daimler owns a 4.3 percent stake in Tesla, started production in April of its B-Class electric compact. Germany’s three leading premium carmakers are all advancing on the electric market. “Germany’s major carmakers all have their electric-car plans ready in the drawer,” said Hanover-based NordLB analyst Frank Schwope.

Before the creation of OPEC, “the problem of the terms of trade shifting in favor of raw-materials exporters had been avoided by foreign control over their economies, both by the international minerals cartel and by colonial domination,” Hudson writes. Yes, it is absolutely safe to buy 360 S 7 Pro Robot Vacuum And Mop Li DAR Mapping 2650 Pa No Go Zones Selective Room Cleaning Self Charge And Resume Compatible With Alexa And Google Assistant from desertcart, which is a 100% legitimate site operating in 164 countries. Since 2014, desertcart has been delivering a wide range of products to customers and fulfilling their desires. You will find several positive reviews by desertcart customers on portals like Trustpilot, etc.

The NDRC notice said the policy was designed to encourage the development of China’s rich offshore wind power resources. Offshore wind energy capacity stands at just 400 megawatts at present, amounting to less than 0.5 percent of China’s total wind power capacity. China’s total installed wind energy capacity stood at 82.27 gigawatts by the end of May, up 23.1 percent on the year and amounting to 6.6 percent of the national total. As of 2013, foreign central banks have been dishoarding their U.S. treasuries. As of today, the Federal Reserve is the majority purchaser of American debt. The world is witnessing a slow decline of the dollar as the dominant reserve currency, both in terms of percentage of foreign exchange reserves and in terms of percentage of trade.

Downward adjustments to renewable energy incentives in Europe slashed new PV installations there by more than one third. Germany reduced its FIT rates for new projects faster than planned in an attempt to save on payments, and that cut installation rates in half. Adnan Amin told Xinhua in an interview that “IRENA’s vision is to be the global voice of renewable energy worldwide and support the transition of all countries to a sustainable energy future.” So perhaps the Treasury bill standard deserves credit for this global victory.

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Inflation, Bichler and Nitzan argue, became a “permanent feature” of the 20th century. The visual is depicted in log-scale, and shows steady prices all the way through the middle of the 16th century, when Europeans began exploring the Americas and expanding their gold supply. Then prices remain relatively steady again though the beginning of the 20th century. But then, at the time of World War I, they shoot up dramatically, cooling off a bit during the depression, only to go hyperbolic since the 1960s and 1970s as the gold standard fell apart and as the world shifted onto the Treasury bill standard.

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Data suggests that, under World Bank guidance between 1970 and 2000, poorer countries grew more slowly than rich ones. To get an idea of what the implications are for liberal democracy’s victory over totalitarian communism, take a look at a satellite image of the Korean peninsula at night. Compare the vibrant light of industry in the south with the total darkness of the north. To stay in line with World Bank loans, the Indian government forcibly sterilized millions of people. Former grain-exporting regions of Latin America and Southeast Asia deteriorated to food-deficit status under “guidance” from the World Bank and IMF. Instead of developing, Hudson argues that these countries were retrogressing.

Verifying an inbound gold payment is impossible to do without melting the delivery bar down and assaying it. It’s a prescient comment, though it wasn’t Europe or Asia that designed an alternative to the dollar, but Satoshi Nakamoto. A new kind of asset money, bitcoin has a chance to unseat the super-imperial dollar structure to become the next world reserve currency. There is surely a case to be made for how the world benefited from the dollar system. With the dollar as the world reserve currency, everything as we know it grew from the rubble of World War II.

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Europe would take the gold — settled as the balance-of-payments adjusted — and use it to buy goods from the U.S. In this way, gold was “stripped” from the developing world, helping the U.S. gold stock reach its peak of nearly $24.8 billion in 1949. “Foreign governments,” Hudson says, “financed the entire increase in publicly-held U.S. federal debt” between the end of WWII and the 1990s, and continued with the help of the petrodollar system to majorly support the debt all the way to the present day.

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By the 1980s, the U.S. government had “killed” gold as a money through centralization and through control of the derivatives markets. As the global community faces important energy choices, the International Renewable Energy Agency director-general has called on all governments to scale up their renewable energy investment in order to reach a ” sustainable energy future.” In the end, one can argue that the Treasury bill standard helped defeat Communism; that it’s what the global market wanted; and that it helped the developing world. As financial analyst Lyn Alden has pointed out, the post-1971 fiat-based financial system has contributed to structural trade deficits for the U.S.

In Hudson’s telling, U.S.-directed aid was not used for altruism, but for self interest. From 1948 to 1969, American receipts from foreign aid approximated 2.1 times its investments. The answer, from Hudson’s perspective, is that they were folded into this broader strategy, to get the leaders of developing economies to spend their earnings on food and weapons imports. But now that the oil states were sovereign, they controlled the massive inflow of savings accrued through the skyrocketing price of petroleum.

After the fall of the Berlin Wall, however, the U.S. did not hold another Bretton Woods to decentralize the power of holding the world’s reserve currency. If the argument is that we needed the Treasury bill standard to defeat the Soviets, then the failure to reform after their downfall is puzzling. Even pre-Bretton Woods, gold reserves from regions like Latin America were sucked up by the U.S. As Hudson describes, European nations would first export goods to Latin America.

So the African continent is “faced with a big choice,” because of the size of the continent and its standing in the renewable energy market. The IRENA head pointed out that though a grid is very expensive, it is necessary for a country to distribute energy nationally. But, right now, ” is continuing to maintain the trajectory of growth” and they are transforming their economy, through renewable energy investment, he said. As the global community can see, “China has become the biggest market in the world for the deployment of energy,” he said. “The boom we’re seeing right now solar and China is the biggest market for solar in the world.”

Its models also recharge more quickly than those of rivals, thanks to its connectors, software and efficient power management. Audi has defined a range target of about 400 km for any future electric model it aims to develop, the sources said. Last year, it set a benchmark tariff of 0.43 yuan per kilowatt hour for nuclear power, and also raised tariffs for coal-fired power plants that had installed clean technologies.

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The “FIRE” sector has, Hudson says, “appropriated almost all of the economic gains.” Industrial capitalism, he says, has evolved into finance capitalism. On June 8, 1974, the U.S. and Saudi governments signed a military and economic pact. Secretary Simon asked the Saudis to buy up to $10 billion in treasuries.

The U.S., she argues, has extended its global power by sacrificing some of its domestic economic health. This sacrifice has mainly benefitted U.S. elites at the cost of blue-collar and middle-income workers. Dollar hegemony, then, might be good for American elites and diplomats and the wider empire, but not for the everyday citizen. Floating currency markets sparked a proliferation of derivatives used to hedge risk. Corporations all of a sudden had to invest resources in foreign exchange futures. In the oil and gold markets, there are hundreds or thousands of paper claims for each unit of raw material.

  • The project, located at Tejuva in Rajasthan, will comprise 48 units of Suzlon’s 2.1 MW wind turbines, the statement said.
  • With 18,300 megawatts, China now trails only Germany in overall capacity.
  • The National Development and Reform Commission said in a notice on its website () the on-grid tariff would be paid to wind farms completed and put into operation before 2017.
  • Next-generation chemistries, including ultracapacitors, lithium sulfur, and next generation flow technologies, offer a combination of higher density and lower price points.

Then in 2013, China added at least 11,300 megawatts, the largest PV addition by any country in a single year. With 18,300 megawatts, China now trails only Germany in overall capacity. In all, the world’s installed PV generating capacity is now close to 140,000 megawatts—enough to power each home in Germany. Falling costs and effective policies continue to drive tremendous growth in solar power.

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In Chile, the U.S. firm SunEdison announced in June 2014 the completion of the largest PV plant in Latin America, its 100-megawatt project in the Atacama Desert. And Brazil looks likely to nearly double its PV capacity to more than 70 megawatts in Net interest earnings 2014. Elsewhere in Asia, South Korea grew its PV capacity 40 percent to nearly 1,500 megawatts in 2013. And Thailand expanded its Lopburi Solar Farm to 84 megawatts, part of an 80 percent boost in national solar installations to 700 megawatts.

In Africa, where small off-grid PV systems have been the norm, South Africa dominates in PV capacity. At least three large projects with a combined 175 megawatts have been inaugurated in that country’s Northern Cape province since late 2013. The Chinese solar firm Hanergy plans to build a 400-megawatt park in Ghana. And Skypower FAS Energy, a Canadian-Saudi joint venture, signed agreements with Nigerian federal and state governments in May 2014 to install 3,000 megawatts of utility-scale PV there by 2019.

And finally, in a world where gold had not been demonetized, would it have remained the pristine collateral for this system? To revisit the Triffin dilemma, the demand for “reserve” dollars worldwide would inevitably lead to a draining of U.S. domestic reserves and, subsequently, confidence in the system breaking down. A second powerful counter-theory is that the world shifted from gold to U.S. debt simply because gold could not do the job.

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