Most of next week for the first week of September should remain hot and humid. Daily highs in the low to even mid 90s with muggy mornings in the low 70s. A ... More...
EPA Recognizes Volkswagen Chattanooga for 'Green Power'
Volkswagen Chattanooga has received a 2013 Green Power Leadership Award from the U.S. Environmental Protection Agency (EPA). The annual awards recognize the country’s leading green power users for their commitment and contribution to helping advance the development of the nation’s voluntary green power market.
EPA presented Volkswagen Chattanooga with the award at an event held in conjunction with the 2013 Renewable Energy Markets Conference in Austin, Texas on September 23, 2013.
Volkswagen Chattanooga was one of only four organizations nationwide to receive a Leadership Award for the on-site generation of green power. The award recognizes EPA Green Power Partners who distinguish themselves using on-site renewable energy applications, such as solar photovoltaic (PV) or landfill gas. Volkswagen Chattanooga is currently generating more than 13 million kilowatt-hours (kWh) of green power annually from an on-site solar energy system, which is enough green power to meet 12 percent of the organization’s electricity use.
“We are honored that the EPA has recognized us with a Green Power Leadership award for the renewable energy generated by the Volkswagen Chattanooga Solar Park at our LEED Platinum certified factory in Tennessee,” said Frank Fischer, CEO and Chairman of Volkswagen Chattanooga.
“Volkswagen’s worldwide conservation program is called Think Blue and it’s a global call to sustainable ecological action on our blue planet,” Fischer said. “Generating green power onsite is an important part of Volkswagen’s efforts to be responsible for our footprint in everything from powering our factory to powering our cars.”
Volkswagen Chattanooga currently ranks No. 15 on EPA’s Top 20 On-site Generation list, which highlights EPA Green Power Partners that have achieved the highest annual on-site green power generation through July 3, 2013. EPA updates its Top Partner Lists quarterly at http://www.epa.gov/greenpower/toplists/.
Green power is electricity that is generated from environmentally preferable renewable resources, such as wind, solar, geothermal, biogas, biomass, and low-impact hydro. Using green power accelerates the development of new renewable energy capacity nationwide and helps to reduce greenhouse gas emissions from the power sector.
“EPA is pleased to recognize Volkswagen Chattanooga with a Green Power Leadership Award for its distinguished commitment to using on-site renewable energy resources,” said EPA Administrator Gina McCarthy.
“By investing in on-site green power, Volkswagen Chattanooga is generating cleaner electricity and reducing harmful carbon pollution, and providing a clear example of an organization thriving on innovation and sustainability.”
According to the EPA, Volkswagen Chattanooga’s current green power generation of more than 13 million kWh is equivalent to avoiding the carbon dioxide (CO2) emissions of nearly 2,000 passenger vehicles per year, or is the equivalent amount of electricity needed to power nearly more than 1,000 average American homes annually.
The solar installation at Volkswagen Chattanooga is an element of the highly-coveted LEED Platinum certification awarded to VW by the U.S Green Building Council in late 2011. At that time, the Building Council called the Chattanooga manufacturing facility “the world’s greenest auto plant” and noted it was the first automotive manufacturing plant in the world to receive the top LEED certification. Today, the Chattanooga plant remains the only auto plant worldwide to earn the LEED Platinum certification.
The Volkswagen Chattanooga Solar Park occupies 33 acres, or half of the 66-acre land parcel adjacent to Volkswagen’s state-of-the-art manufacturing plant. The solar park contains 33,600 solar modules from JA Solar designed to produce 13.1 gigawatt hours of electricity per year -- equivalent to the energy consumed annually by around 1,200 homes in the area.
The electricity produced from the solar park is expected to meet 12.5% of the energy needs of Volkswagen’s Chattanooga manufacturing plant during full production and 100% during non-production periods. The plant covers 1.9 million square feet and employs around 2,500 people who manufacture the highly-acclaimed Volkswagen Passat sedan. For Volkswagen, the solar park in Chattanooga will rank as the automaker’s largest photovoltaic installation worldwide.
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Last Update on August 29, 2014 17:14 GMT
WASHINGTON (AP) -- U.S. consumer spending fell in July, with a drop in auto purchases accounting for most of the weakness. Income growth also slowed in July.
The Commerce Department says consumer spending edged down 0.1 percent last month after a 0.4 percent increase in June. It was the first decline in spending since January. Income growth slowed to a 0.2 percent rise in July, the weakest showing in seven months.
The fall in spending came primarily from a decline in auto sales, which took a breather in July after posting big gains in recent months, although spending in other areas was also weak.
Consumer spending accounts for 70 percent of economic activity, so it needs to recover for the economy to keep its momentum in the second half of the year.
WASHINGTON (AP) -- U.S. consumer sentiment ticked up in August, driven by greater optimism about jobs, rising incomes, and increasing wealth. The increase largely occurred among higher-income groups.
The University of Michigan says its index of consumer sentiment rose to 82.5 from 81.8 in July. Still, it has barely risen in the past year.
Consumers have sent mixed signals in recent months. The Michigan index has fluctuated between 80 and 82.5 since December. A measure of consumer confidence by the Conference Board rose this month to nearly a seven-year high. And yet Americans cut back their spending in July.
Nearly 60 percent of households in the top third of income earners say they are financially better off this month, the Michigan survey found, compared with only 36 percent in the bottom two-thirds.
DETROIT (AP) -- U.S. investors should soon be able to buy stock in Chrysler for the first time in seven years.
Italy's Fiat and Chrysler are merging to form Fiat Chrysler Automobiles. Fiat says Friday that an ongoing tally of investors suggests there is not enough opposition to derail the deal.
Earlier this month, Fiat shareholders approved combining the companies. But Italian law gives dissenters the right to cash out. Fiat has said that if investors offered more than 500 million euros ($650 million) in shares, the merger would be off.
Fiat SpA will announce the final tally by Sept. 4. So far the maximum number of shares to be cashed is below the cap.
Shares of Chrysler haven't been publicly traded since 2007 when it was still combined with German automaker Daimler.
RICHMOND, Va. (AP) -- Federal regulators are putting Reynolds American Inc.'s planned $25 billion takeover of rival cigarette maker Lorillard Inc. under the microscope.
The nation's second-biggest tobacco company said Friday that the Federal Trade Commission has asked for additional information as part of an antitrust review of the deal.
In July, Reynolds announced the deal to combine two of the nation's oldest and biggest tobacco companies, creating a formidable No. 2 to rival Altria Group Inc., owner of Philip Morris USA.
Reynolds markets Camel, Pall Mall and Natural American Spirit cigarettes. Lorillard sells Newport, Maverick and Kent cigarettes.
The companies plan to sell the Kool, Salem, Winston, Maverick and blu eCig brands to Imperial Tobacco Group for $7.1 billion to ease regulatory concerns about competition.
HEALTH OVERHAUL-TAX FORMS
WASHINGTON (AP) -- The federal agency that brought you the glitchy HealthCare.gov website has a massive new project.
If the Health and Human Services department has trouble this time, that could delay tax refunds for many people.
Complicated connections between the new health care law and income taxes will start to surface in 2015.
HHS has to send millions of people who got health insurance tax credits this year a new tax form that's like a W-2 for health care. It's called a 1095-A.
If they're delayed beyond Jan. 31, people who got coverage through the new insurance exchanges may have to wait to file their taxes -- and collect their refunds.
Some tax preparation companies are worried.
The Obama administration says it's on task, but won't provide much detail.
BRUSSELS (AP) -- Inflation has fallen to an annual 0.3 percent in August for the 18 countries that use the euro, underlining the shakiness of the continent's economic recovery.
Eurostat, the EU statistics agency, says the figure is down from 0.4 percent in July, as expected by market analysts.
Core inflation, which excludes volatile food and energy, sent a modestly brighter signal as it rose to 0.9 percent from 0.8 percent.
The eurozone economy showed no growth in the second quarter as fears about the Ukrainian crisis weighed on consumers and investment decisions.
The European Central Bank has warned that inflation expectations are worsening and says it will add more stimulus if needed. Many analysts are predicting the bank will launch large-scale purchases of financial assets to pump more money into the economy.
SAO PAULO (AP) -- Brazil's government says the country's gross domestic product contracted 0.6 percent in the second quarter compared with the previous three months, sending the country's economy into a recession.
The government's IBGE statistics bureau said Friday it was the second consecutive quarterly contraction of the economy.
In the first quarter of the year, GDP was reported as having grown 0.2 percent. But that figure was revised downward to minus 0.2 percent.
The IBGE says the country's GDP stands at 1.27 trillion reals ($567 billion).
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