Green

On the GreenBeat: Molycorp stock rises on rare earth scarcity, Verizon launches smart home pilot

Here’s the latest action we’re following on the GreenBeat today:

Warren Buffet’s MidAmerican Energy to install wind power in Iowa — The company, a subsidiary of Berkshire Hathaway, plans to install 593 megawatts of wind power in Iowa, enough to power 190,000 homes, CNET reports.. The project will consist of 258 wind turbines supplied by Siemens Energy, to be installed throughout the state by the end of next year.

China defends cutting rare metal exports, boosting Molycorp stock — Rare metals are used in wind turbines and hybrid cars, so it’s bad news for both that prices for those metals have been soaring since this summer, when China slashed its exports by 40 percent. The country, which produces about 97 percent of the world’s metals for high-tech products,┬áis defending its decision to the global community, which is calling the move a potential World Trade Organization violation, Reuters reports. On the other hand, U.S. rare earth mining company Molycorp’s stock is soaring, Earth2Tech notes. The company plans to start mining again in California next year and was also bolstered by a joint venture with Japanese mining firm Hitachi Metals.

India to quadruple renewable energy capacity – The country plans to reach the goal of 72,400 megawatts of power generation capacity from clean energy by 2022, the Wall Street Journal reports. India is expected to be the second-largest cause of global energy demand rising by 2035, with its consumption more than doubling by that time.

Verizon launches home monitoring and controls — The company announced a trial phase to become available in the first half of 2011. The service lets you lock doors remotely and set, adjust and control lights, smart thermostats and smart appliances using Fios, Verizon’s fiber-optic network.