Roundup: The New Coda, Texas Kills Solar Bill, First Solar Investigated and More

(MoneyWatch)  Coda unveils cheaper electric car -- Cheap, when it comes to electric cars, is a highly subjective label. At a price of $45,000, the Coda, an all-electric car by an eponymous company (owned by Miles Electric) with a range of about 100 miles, will be half the price of a Tesla Roadster, but still far beyond the buying power of most salaries. Still, a fully electric car is an achievement, especially for a startup. Miles partnered with China's Tianjin Lishen Battery for the car's battery pack. [Source: CNET]

HCL CleanTech funded for cellulosic biofuels -- Veteran clean technology funder Khosla Ventures is backing HCL CleanTech, an Israeli company that has a new method for converting cellulose, the tough fibers in woody plants, into sugars for biofuel. Khosla is also behind investments in many other top biofuel companies, including Coskata, LS9 and Range Fuels, although none have yet proven long-term viability. [Source: Greentech Media]

Texas shoots down popular solar bill -- Several weeks ago, I cheered the efforts of Texas lawmakers to pass a $500 million solar energy incentive bill. Turns out the kudos came too soon; a Democratic lawmaker managed to defeat the bill with a mistimed procedural maneuver, despite broad legislative support. With time out for the bill this session, the state may have to wait two years for another chance. [Source: Wall Street Journal]

First Solar investigated for Optisolar acquisition -- Federal officials worried that speculators are making renewable energy applications then selling them to the highest bidder are taking a close look at the $400 million acquisition of Optisolar by First Solar. The latter firm will probably have trouble arguing that it plans to use Optisolar's technology, so the allegation could prove damaging. [Source: LA Times]

Gas hydrates uncovered in the Gulf -- The Gulf of Mexico has been found to bear a think layer of rocks containing methane hydrates that have the potential to produce natural gas using current technology. Several United States agencies and companies led by Chevron led the drilling. [Source: Energy Current]

Obama looks for funding cuts in wave and tidal power -- Think the ocean is a promising potential source of energy? President Obama's administration may not agree. While asking for funding increases for other technologies like solar and wind, the administration has asked for a 25 percent cut in wave power R&D funding. [Source: Kansas City Star]