S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Energy

AEP Doubling Renewable Energy Targets (AEP)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

power-lines-image3American Electric Power (NYSE: AEP) is increasing its push into renewable and alternative energy with a fairly lofty goal on the surface.  The utility with more than 5 million customers over 11 states is now doubling its goal of to now add 2,000 MW by the end of 2011.  This will bring the company’s total renewable energy portfolio to more than 2,600 MW by the end of 2011. AEP’s goal does come with regulatory support and is 1 of 12 new targets announced by the company.

AEP has added 903 MW of wind generation since 2007, when the company committed to its original goal of adding 1,000 MW.

As we are seeing elsewhere, there are “fiscal” issues here on the economic front.  The company said that the current economic challenges “will require us to think more creatively about how to fulfill our sustainability commitments to protect people and the environment.”

AEP is driving the development of a new, interstate extra-high voltage transmission system to bring that renewable energy to market, is promoting energy efficiency, and is further developing advanced coal technologies such as carbon capture and storage.  AEP’s third annual Corporate Sustainability Report can be seen here.

JON C. OGG

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

US Investments in Alternative Energy: Rising or Falling?

There appears to be widespread agreement that the US is not spending enough money to develop a world-leading alternative energy…
America’s 10 Greenest Cities
Aaron Webber |

America’s 10 Greenest Cities

We should all strive to live in harmony with the Earth, no matter where we live. Disregard for our home is only doing…
Trey Thoelcke |

Is It Time to Dump ESG?

In 2015, the United Nations adopted a list of 17 sustainable development goals, known as SDGs, intended to drive policies…
Trey Thoelcke |

ESG, Nuclear Power, and Proxy Voting

The European Commission proposed last year to add natural gas and nuclear power to the so-called EU Taxonomy of clean,…
4 ESG Stocks With Net-Zero Emissions Target in the Spotlight
247patrick |

4 ESG Stocks With Net-Zero Emissions Target in the Spotlight

As consumers prioritize sustainability and social responsibility, companies that align with ESG principles are likely to gain favor and thrive.
ESG fund inflows return to earth in Q3; plus Facebook’s climate denier tipping point
Trey Thoelcke |

ESG fund inflows return to earth in Q3; plus Facebook’s climate denier tipping point

By David Callaway, Callaway Climate Insights Last month’s stock market selloff scuffed the last of the shine off an already…
2 Stocks Quietly Capitalizing on the Massive AI Boom
David Hanson |

2 Stocks Quietly Capitalizing on the Massive AI Boom

Since ChatGPT’s public launch in November 2022, artificial intelligence, or AI, has been the dominant storyline in the technology world…
Scorched earth investing, a new ocean fund, and the $1.75 million elephant
Trey Thoelcke |

Scorched earth investing, a new ocean fund, and the $1.75 million elephant

By David Callaway, Callaway Climate Insights . . . . A smoky, orange haze kicks off the beginning of autumn…
Paul Ausick |

Global Energy-Related Carbon Emissions Could Peak in 2020

Reaching an early peak in emissions by 2020 is one of the IEA's four "pillars" to reduce energy-related carbon emissions.

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618