Germany's government and an industry group said Thursday they have agreed to trim solar power subsidies by up to 15 percent this year as demand thrives in the country, a leading producer and user of the renewable energy source.

Solar energy and wind power will be strategic industries leading Korea's economy, with the government deciding to invest 40 trillion won in the renewable energy field by 2015 in partnership with the private sector so they can take the place in the nation's economy semiconductors and shipbuilding had in the past.

Korea Finance, a state-run financing group, plans to provide more than US$80bn in policy loans over the next five years to support Seoul's push into strategic industries such as renewable energy and nuclear power plants.

Europe and North Africa could be powered solely by renewable electricity by 2050 through the implementation of a SuperSmart Grid, according to a report issued this week by global advisory firm PricewaterhouseCoopers.

China has overtaken the US for the first time in the race to invest in wind, solar and other sources of clean energy.

Flextronics has entered into an agreement to produce solar modules for Q-Cells. Flextronics said the deal positions it as the leading EMS player in the clean tech market.

Renewable energy investment may rise by 23% this year as government stimulus funds mainly in the US and Europe are spent wind turbines and solar panels.

Applied Materials has ramped up its lobbying effort during the last three months of 2009, spending close to a half-million dollars trying to sway lawmakers on energy policy and other issues.

Japan-based Mitsubishi Electric has announced it plans to almost triple production of solar cells in two years to meet demand for renewable energy. The company last month finished construction of a 24,000 square meter (258,000 square feet) plant in northern Japan that may begin operating this fall.

The "oil crunch" or "peaking oil" will start to destabilize economies, politics and society in general as early as 2015. "The rise in the oil price will have a major impact on anything from fertilizer to computers to clothes," Virgin Airlines owner Richard Branson has warned.

The prototype solar cells demonstrated a power-conversion efficiency of 9.6%, a 40% gain in efficiency from solar cells built by others using the same or similar widely available materials, said David Mitzi, who leads the research team at IBM Research.

A homeowner could earn up to 900 pounds (US$1,433) each year for a typical 2.5 kilowatt solar PV system and save an additional 140 pounds on their annual electricity bill, according to an announcement by the UK's Department of Energy and Climate Change.

Intel will build PV installations targeted at eight US locations in four states, generating around 2.5 MW, and has increased its renewable energy credit purchases by 10%, powering more than 51% of its estimated US electricity use.

Under the terms of the agreement, government officials said Samsung must build four manufacturing plants in Ontario, promising 16,000 direct and indirect jobs over the next five years.

First Solar is the first pure-play renewable energy company to join the S&P 500 Index.

German conglomerate Siemens and US powerhouse General Electric (GE) have both underlined their commitment to the renewable energy sector after shelling out to acquire two high-profile Israeli solar energy firms.

"In the US, energy policy is made on the state level," CEO Mike Ahearn said. "Every state has a different approach." In contrast, Ahearn said China has designated a region within the country for renewable energy production and transmission.

President Obama wants to make the US "the world's leading exporter of renewable energy," but in his seven months in office, it is China that has stepped on the gas in an effort to become the dominant player in green energy — especially in solar power, and even in the US.

India expects one trillion rupees (US$21 billion) of investments over a five-year period ending March 2012 for renewable-power generation, according to the chairman of Indian Renewable Energy Development Agency.

The giant South Korean company Samsung Electronics has said it will invest more than US$4 billion to cut emissions from its plants.

Governments across Asia have launched massive stimulus packages focused on renewable energy in recent months, and some analysts think the new infusion of cash could reshape a solar industry reeling from the economic downturn.

With more automation processing, the solar industry can cut the amount of human labor needed dramatically.

Taiwan and China should cooperate on energy conservation and environmental protection, the Chairman of the island's ruling party said in a speech on July 11.

Concentrating photovoltaic (CPV) solar power--which marries traditional solar photovoltaic technology to large-scale concentrated solar power plants--could ramp up utility-scale solar production especially in niche markets.

Rather than a costly cap-and-trade system, the US should invest in more environmentally sound renewable projects.

Swiss adventurer Bertrand Piccard has unveiled a prototype of the solar-powered plane he hopes eventually to fly around the world.

Canadian Solar plans to boost its annual production capacity from 620 megawatts to 800 MW by end-August, to meet an expected surge in demand, according to company president and CEO Shawn Qu.

Beijing is expected to unveil subsidized prices for solar power production as soon as the second half of the year, the South China Morning Post reported on Monday, citing an industry official.

Colorado gained jobs in "clean energy" industries twice as fast as the state's job-growth rate as a whole in the 10 years ending in 2007, according to a study.

Call them philanthropic or just call them smart investors, the bottom line is that Google wants to provide an alternate solution to the greenhouse gases of laden coal power generation in the US.

President Obama said on May 27 that he will use US$467 million in economic-stimulus money for initiatives that in two years will double the country's capacity for clean, renewable energy.

Wind-farm developer Renewable Energy Holdings on May 29 said it has signed a non-binding deal of intent to buy PVStrom Energy Systems GmbH & Co KG's photovoltaic development assets in Sicily, Italy for an undisclosed amount.

Solar power plants in deserts using mirrors to concentrate the sun's rays have the potential to generate up to a quarter of the world's electricity by 2050, a report by pro-solar groups said on Monday.

Prime Minister Kevin Rudd says that a new solar energy plant will stimulate Australia's economy and make the country a leader in renewable energy.

BP on Wednesday said it would cut 620 jobs from its solar power business and that two plants in Spain and part of a plant in the US would be shut as it looks to reduce costs at its renewable energy division.

Environmental campaigners say they are astonished at the government's decision to suspend a scheme which gave grants to schools, hospitals and other public buildings to switch to renewable energy. Renewable energy experts say it has all been disastrous and could leave the UK at a competitive disadvantage in the future.