Most of the excitement related to BYD (BYDDY.PK) has centered on the remarkable advances the company has made in applying its proprietary battery technology to electric vehicles such as the e6 model which I wrote about earlier this month. BYD’s innovations in battery technology have made widespread adoption of electric vehicles likely for the first time.
According to a recent blog post by Marc Gunther, Berkshire Hathaway (BRK.A) subsidiary MidAmerican Energy now plans to utilize the same battery technology to store power generated from renewable resources such as solar and wind power. Mr. Gunther has covered BYD in the past for Fortune Magazine and was the main source for an article I wrote in April regarding BYD.
Positioning MidAmerican for Cap and Trade
MidAmerican Energy’s Chairman David Sokol is on record in a Washington Post editorial opposing the Obama Administration’s “cap and trade” approach to dealing with climate change. Sokol’s arguments center on the reality that cap and trade will amount to a tax on consumers regardless of mitigation efforts the government might take to issue tax rebates to low income consumers to offset higher energy prices. Sokol also expressed his views on the subject in a CNN interview: