The decision by Warren Buffett’s utility company to order about $1 billion of wind turbines for projects in Iowa shows how a drop in equipment costs is making renewable energy more competitive with power from fossil fuels.
Stocks rose, sending the Dow Jones Industrial Average to a record, and Treasuries gained as Federal Reserve officials said weakness in the U.S. economy warrants continued stimulus. Oil led commodities up from a four-month low while the yen and dollar weakened.
German Chancellor Angela Merkel faces one task above all others when she returns to her desk on the seventh floor of the Chancellery: fixing the biggest shift to clean energy of any developed country in history.
Treasuries rose, sending 10-year yields to a two-week low, while U.S. stocks fluctuated as consumer confidence slid and investors awaited Federal Reserve Chairman Ben S. Bernanke’s speech on the economy in three days.