German onshore wind growth slows
Germany has installed about one-third less onshore wind power capacity so far this year than during the same period in 2014, new analysis shows.
Read MorePACE Finance Opening Doors for C&I Solar In California
With its excellent renewable policy, California leads the nation in solar. Over the years both the Renewable Portfolio Standard and the California Solar Initiative drove utility scale and residential solar deployment. But without the same drivers pushing commercial and industrial buildings to go solar, California’s offices, warehouses, hospitals, farms, factories, universities, hotels and restaurants have lagged behind.
Now that appears to be turning around fast. A growing number of leaders in the solar industry see a very bright future for Commercial and Industrial (C&I) solar, beginning in 2015. A lot has to do with the introduction of PACE financing for C&I solar.
Vivint Solar recently unveiled $150 million in financing for the C&I solar market together with Sungevity. Vivint, currently valued at $1 billion, is already a major player in residential solar. Through its parent company Blackstone Group, Vivint obtained an inside track to almost $100 billion worth of real estate assets in a vast assortment of C&I properties. And with its $2 billion acquisition in July by SunEdison, it is clear that this market is valued.
Read MoreUS Clean Power Plan Could Include Carbon Trading
Some businesses that back President Barack Obama’s plan to curb greenhouse gases are making a late lobbying push to add an element similar to a cap-and-trade program.
With the administration set this week or next to unveil its final rules to cut emissions from coal and natural gas plants, groups for companies such as Johnson Controls Inc., Alstom SA and AES Corp. have pressed officials to include a carbon market so that costs don’t surge.
Those programs — a slimmed-down version of a plan Congress debated and failed to pass early in Obama’s tenure — would apply to states that balk at putting rules in place.
Read MoreWhy the Future of the Yieldco Is at Risk
In the past two years, the proliferation of YieldCos, and their ability to open new sources of capital for renewable energy projects, has captured the attention of the energy industry. While a YieldCo’s potential to catalyze renewable energy development is immense, the focus on feeding YieldCos has come at the expense of adequate transparency into the underlying assets being delivered into the financing mechanism. However, as U.S. bond yields rise, the long-term viability of YieldCos will necessitate operational improvements amongst their parent companies in order to compensate for tightening market conditions. These improvements must drive efficient compliance and transparency to capital market requirements while also allowing YieldCos to effectively diversify their holdings.
YieldCos’ ability to attract investment is predicated on growth and, consequently, the ability to acquire new assets that can deliver steady cashflows. In the U.S., the effects on solar development are tangible. My company’s distributed energy insight report, which compiles data from 3000+ projects seeking financing, highlights that YieldCos are not only providing low-cost capital to solar projects but are also contributing to widespread competition for project acquisitions. The result has been downward pressure on the economic returns necessary for projects to successfully attract financing. Meaning more projects can find financing and are being sold for higher prices. This has undoubtedly helped grow project development.
Read MoreSchneider Electric and Saft Partner on Corsican Solar-Energy Storage Project
Lithium-ion batteries will be used to store PV energy produced by two new solar energy installations and dispatch it to the grid on the French Mediterranean island of Corsica. Supplied by Saft, each 1-MWh advanced battery system will be used to store e…
Read MoreListen Up: Vampires Sucking Power from your House
Here’s a nightmare for you: at night, when you’re asleep and you think things are quiet, there are vampires sucking power out of your house and increasing your electric bill. The fact of the matter is that every plugged in electrical device in your home uses a small amount of standby power — even if you think these devices are off.
Read MoreHawaiian PV Solar Developers Anxious over PUC Decision on 220 MW of Solar Power for the State
Project developers in Hawai’i eagerly anticipate a Public Utilities Commission (PUC) decision on seven utility-scale solar PV installations with a total capacity of some 220 MWac. Though unconfirmed, word is that the Hawai’i’s three PUC commissioners will reach a decision in the next week or two.
Amounting to nearly 20 percent of peak power demand on Oahu, the Aloha State’s most populous island, the PUC’s decisions will have a huge impact on Oahu’s power grid, as well as solar sector jobs and achieving a recently government-mandated goal of renewables meeting 100 percent of state-wide electricity consumption by 2045. A PUC spokesperson would not comment on the proposals.
Submitted by developers Eurus, Hanwha, SunEdison and NextEra – whose proposed acquisition of Hawaiian Electric Company (HECO) is also pending approval by the PUC – five project proposals were filed around the same time last year. Two others date back to 2013. All the developers worked closely with, and obtained support from, HECO before submitting their proposals to the PUC. HECO delivers all Oahu’s and 95 percent of Hawai’i’s electricity.
Read MoreFloridians Seek To Let the Sunshine In Via Solar Power PPAs
Florida, the Sunshine State, is infamously unfriendly to the solar market. Despite the abundance of prime sunshine, which ranks the state third in the nation for solar potential, less that 1/10th of 1 percent of Florida’s energy comes from solar photovoltaics. Floridians for Solar Choice is a grassroots ballot initiative that is trying to move beyond the status quo by removing the barrier that currently makes 3rd party power purchasing agreements (PPAs) illegal in Florida.
The Floridians for Solar Choice initiative is a movement by Florida’s citizens and businesses who are fed up with the monopoly utilities’ influence at the Florida Legislature that has prevented the development of solar in the Sunshine State.
Read MoreWelspun Commissions 52-MW Solar Power Plant in India
Leading Indian solar developer Welspun Renewables has commissioned the construction of a massive solar plant in the state of Maharashtra. The planned 52-megawatt (MW) solar plant will be located in the city of Baramati.
The project was set up between Welspun and Maharashtra State Power Generation Co. under the public-private partnership (PPP) model. The partnership represents the latest in a series of steps being taken to ramp up the development of solar energy in India. Late last year, Prime Minister Narendra Modi announced his administration would seek the development of 100 gigawatts (GW) of solar capacity by the year 2022.
Vineet Mittal, Vice Chairman of Welspun Renewables, said the Maharashtra plant’s successful commissioning will “set a precedent for the other states and independent power producers” towards realizing Modi’s 100-GW goal. “We are very confident and excited to see solar power becoming the next big contributor in India’s energy future,” Mittal said. “We clearly see a transition from solar playing a complimentary role in the energy mix to becoming a vital part of it.”
In February, Welspun pledged to develop 11 GW of solar and wind projects throughout the country. The leading generator of solar power in India, Welspun has an established presence spanning 10 states and has plans to commission projects totaling 1 GW of capacity this year alone. “Welspun Renewables has already commissioned a significant percentage of its 2015-2016 target,” Mittal said, adding that current and future projects will be set up with 25-year PPAs.
Mittal stated he expects to see a transitioning where solar energy will go from “playing a complementary role in the energy mix to becoming a vital part of it.”
India’s total installed energy capacity is currently 35.77 GW. Of that, nearly 27 GW are comprised of “clean sources.” Mittal said he foresees strong growth in the renewables sector in the coming year – especially in solar power.
“Various state governments have already tendered out over 6 GW of solar installation capacities,” Mittal said. “Due to enormous support from central and state governments, several new power producers and vendors have entered the sector. The sector is expanding like never before.”
Mittal added that breakthrough technological innovations in the sector, especially in battery technology, will play a crucial role in the future of India’s renewable power infrastructure. “We are at the cusp of a huge technological innovation in the renewable energy sector,” Mittal said. “We believe that within the next decade, the current major sources of energy would be overtaken by battery storage, smart meters, cognitive computing and other clean energy technologies.”
On the financing front, Mittal said a growing number of banks and international investors have expressed considerable interest in funding clean energy projects in India. “We are seeing an unprecedented appetite among investors who are keen to fund solar projects and we foresee substantial inflow of funds in the coming years into the sector,” Mittal said.
Read MoreWelspun Commissions 52-MW Solar Power Plant in India
Leading Indian solar developer Welspun Renewables has commissioned the construction of a massive solar plant in the state of Maharashtra. The planned 52-megawatt (MW) solar plant will be located in the city of Baramati.
The project was set up between Welspun and Maharashtra State Power Generation Co. under the public-private partnership (PPP) model. The partnership represents the latest in a series of steps being taken to ramp up the development of solar energy in India. Late last year, Prime Minister Narendra Modi announced his administration would seek the development of 100 gigawatts (GW) of solar capacity by the year 2022.
Vineet Mittal, Vice Chairman of Welspun Renewables, said the Maharashtra plant’s successful commissioning will “set a precedent for the other states and independent power producers” towards realizing Modi’s 100-GW goal. “We are very confident and excited to see solar power becoming the next big contributor in India’s energy future,” Mittal said. “We clearly see a transition from solar playing a complimentary role in the energy mix to becoming a vital part of it.”
In February, Welspun pledged to develop 11 GW of solar and wind projects throughout the country. The leading generator of solar power in India, Welspun has an established presence spanning 10 states and has plans to commission projects totaling 1 GW of capacity this year alone. “Welspun Renewables has already commissioned a significant percentage of its 2015-2016 target,” Mittal said, adding that current and future projects will be set up with 25-year PPAs.
Mittal stated he expects to see a transitioning where solar energy will go from “playing a complementary role in the energy mix to becoming a vital part of it.”
India’s total installed energy capacity is currently 35.77 GW. Of that, nearly 27 GW are comprised of “clean sources.” Mittal said he foresees strong growth in the renewables sector in the coming year – especially in solar power.
“Various state governments have already tendered out over 6 GW of solar installation capacities,” Mittal said. “Due to enormous support from central and state governments, several new power producers and vendors have entered the sector. The sector is expanding like never before.”
Mittal added that breakthrough technological innovations in the sector, especially in battery technology, will play a crucial role in the future of India’s renewable power infrastructure. “We are at the cusp of a huge technological innovation in the renewable energy sector,” Mittal said. “We believe that within the next decade, the current major sources of energy would be overtaken by battery storage, smart meters, cognitive computing and other clean energy technologies.”
On the financing front, Mittal said a growing number of banks and international investors have expressed considerable interest in funding clean energy projects in India. “We are seeing an unprecedented appetite among investors who are keen to fund solar projects and we foresee substantial inflow of funds in the coming years into the sector,” Mittal said.
Read More