Sunrun and Mainstream Energy Corp. today announced that Sunrun has acquired the residential division of REC Solar, AEE Solar and SnapNrack. The companies represent Mainstream Energy's residential solar sales, design and installation; wholesale distribution; and mounting systems and hardware businesses, respectively. In the commercial market, REC Solar will continue as an independent organization under the legal name REC Solar Commercial Corp. The value of the transaction was not disclosed.
"Sunrun pioneered solar service to remove the most significant barriers to going solar. We continue to innovate our business to further drive down costs, increase quality and broaden our reach to consumers so more homeowners have access to affordable home solar," said Lynn Jurich, Chief Executive Officer of Sunrun. "The residential solar market is growing rapidly and this acquisition marks the next step in our multi-channel growth strategy. REC Solar's residential division, AEE Solar and SnapNrack complement our thriving channel business and further enable us to fulfill the enormous market potential for home solar nationwide."
REC Solar is a national leader in solar electric system design and installation, with more than 11,000 customers across seven states. Since becoming Sunrun's first installation partner in 2007, REC Solar has helped thousands of homeowners elect solar energy with Sunrun's solar service, which allows homeowners to pay a low rate for clean energy and fix their electric costs for 20 years.
"REC Solar is the industry leader in customer satisfaction and high quality construction, while AEE Solar and SnapNrack bring capabilities that allow us to make solar energy affordable for more consumers, provide superior systems and service, and lay the foundation to become a major energy company," Jurich said.
With taller wind turbines, the new program is also expected to open up an additional 237,000 square miles of wind-friendly areas for wind power potential, which is about the size of Texas (the image above compares the area change in square kilometers between the hub height of 96 and that of 140).
The areas of the US most likely to benefit from the improved wind technology are mainly located in the Southeast, where alternative energy is starting to find a friendly reception despite pushback by certain legislators from those states.
There's a paradox in the growing global appetite for greener energy. As sales of solar panels and wind turbines increase, so too does the scale of an often-overlooked problem now being stored for future generations. What happens to all the "green" infrastructure when it reaches the end of its life?
When early-generation green technology is replaced, much of it now finds its way into landfill or incinerators. This is not only a blow to waste-reduction efforts, adding hundreds of thousands of tons of rubbish to the global tally every year, but also is also a colossal missed opportunity. Solar panels comprise metals and glass, which, if they were separated and captured, could be reused in the manufacture of other products.
It is possible, through innovative technologies still being developed, to recycle more than 90 percent of a solar panel. But, given the volatility in the value of the resulting raw materials, this is a high-risk sector to develop, and research and development is lacking. Basic recycling schemes do exist, but often focus on two valuable components -- the glass and aluminum frame, for instance -- and discard the rest, including silver, silicon and tin, because it is not yet cost-effective to recycle them.
Bosch is set to pay SolarWorld some €130m in order to acquire the majority of its German solar operations.
The firm will continue to employ the majority of the personnel in Arnstadt, in the german state of Thuringia, the Wall Street Journal reported citing people familiar with the agreement.
Expected to close next month, the deal was agreed in late November but the balance due to SolarWorld will be due later, and could be under €130m if operations in Arnstadt take a turn for the better.
In exchange, SolarWorld will be unable to use the Arnstadt assets as debt collateral for several years – a move by Bosch that will prevent the operations in Arnstadt from falling into the hands of SolarWorld’s creditors.
SolarWorld is currently highly indebted and is planning a financial restructuring in February, with plans to offer investors new shares in place of 55 per cent of the company’s liabilities.
Five years after the Obama administration's renewable energy initiative touched off a building boom of large-scale solar power plants across the desert Southwest, the pace of development has slowed to a crawl, with a number of companies going out of business and major projects canceled for lack of financing.
Of the 365 federal solar applications since 2009, just 20 plants are on track to be built. Only three large-scale solar facilities have gone online, two in California and one in Nevada. The first auction of public land for solar developers, an event once highly anticipated by federal planners, failed to draw a single bid last fall.
Several factors are responsible, industry analysts say. The tight economy has made financing difficult to obtain, and the federal government has not said whether it will continue to offer tax credits of the size that brought a rush of interest in large-scale solar five years ago.
"I would say we are in an assessment period," said Amit Ronen, director of the George Washington University Solar Institute. "Nobody's going to break ground on any big new solar projects right now — utilities want to see how farms coming online this year fit into the grid, and developers are waiting for more certainty about state policies and federal tax credits."
Harvard University researchers have invented an new kind of “flow battery” that could be used on large-scales, such as within electricity grids, to store intermittent renewable energy from sources such as wind and solar. The research describing the new “metal free organic-inorganic aqueous flow battery”, was published in the journal Nature on 9 January.
To create the battery, the Harvard researchers say they have been working with a previously overlooked group of organic compounds called quinones. These can be used to make inexpensive batteries that can charge and discharge renewable energy more quickly than current batteries are able to.
The researchers maintain that their new battery can work as well as existing batteries with chemistries based on metals, which are far more expensive to make. The new battery does not use a precious metal catalyst, it’s underlying chemistry is metal-free; instead, it uses the naturally abundant quinones.
Quinones are water-soluble compounds that store energy in plants and animals. They are found in all green vegetables, and the molecule the researchers used is almost identical to the one in rhubarb. Because quinones are naturally abundant and water-soluble, large, inexpensive tanks could be set up to store electricity, rather than using the traditional, and more expensive solid-state batteries.
New York governor Andrew Cuomo delivered his State of the State address on Wednesday and announced an even greater commitment to clean energy, including $1 billion in new funding for solar energy projects.
Launched in 2012, Cuomo’s NY-Sun Initiative has already been a tremendous success, with almost 300 megawatts (MW) of solar photovoltaic capacity installed or under development, more than was installed in the entire decade prior to the program.
Now with another major financial boost, Cuomo aims to install 3,000 (MW) of solar across New York. “That’s enough solar to power 465,000 New York homes, cut greenhouse gas emissions by 2.3 million tons annually — the equivalent of taking almost 435,000 cars off the road — and create more than 13,000 new solar jobs,” according to the Natural Resources Defense Council.
In addition to the ten-year financial boost for NY-Sun, Cuomo announced a new program entitled K-Solar, which will incentivize the deployment of solar energy by using the state’s 5,000 schools as “demonstration hubs” to increase the number of solar energy projects in their surrounding communities.
Yingli Green Energy Holding Co. (YGE), the world’s biggest solar-panel maker, expects to post its first quarterly profit in three years as early as next quarter as demand climbs and cost controls show results.
The Chinese company “will see a gradual rise each quarter” after reporting a “small loss” or breaking even in the first three months of the year, Chief Financial Officer Wang Yiyu said today by telephone.
The forecast indicates increasing optimism that solar-panel makers are recovering from a plunge in prices caused by surplus manufacturing capacity. Trina Solar Ltd. and JinkoSolar Holding Co. (JKS) already have returned to profit. Canadian Solar Inc. (CSIQ), the best-performing stock among peers in the past year, posted its first quarterly net income in more than two years in November.
Yingli’s American depositary receipts increased 8.4 percent to $7.08 at the close in New York, the highest since Oct. 24.
Yingli has surged more than 40 percent this year after agreeing to form a venture with China’s Datong Coal Mine Group to develop solar plants in Shanxi province.
Remarkable new figures from Spain's grid operator have revealed that greenhouse gas emissions from the country's power sector are likely to have fallen 23.1% last year, as power generation from wind farms and hydroelectric plants soared.
Red Eléctrica de España (REE) released a preliminary report on the country's power system late last month, revealing that for "the first time ever, [wind power] contributed most to the annual electricity demand coverage". According to the figures, wind turbines met 21.1% of electricity demand on the Spanish peninsular, narrowly beating the region's fleet of nuclear reactors, which provided 21% of power.
In total, wind farms are estimated to have generated 53,926 gigawatt hours of electricity, up 12% on 2012, while high levels of rainfall meant hydroelectric power output was 16% higher than the historical average, climbing to 32,205GWh.
"Throughout 2013, the all-time highs of wind power production were exceeded," the report stated. "On 6 February, wind power recorded a new maximum of instantaneous power with 17,056MW at 3:49 pm (2.5 per cent up on the previous record registered in April 2012), and that same day the all-time maximum for hourly energy was also exceeded reaching 16,918MWh. Similarly, in January, February, March and November wind power generation was the technology that made the largest contribution towards the total energy production of the system."
An increase in wind power capacity of 173MW coupled with an increase in solar PV capacity of 140MW and solar thermal capacity of 300MW meant that by the end of the year renewables represented 49.1% of total installed power capacity on the Spanish peninsula.
In an unprecedented decision, a Minnesota judge this week held that utility supplier Xcel Energy should invest in the solar energy developer Geronimo Energy rather than in natural gas generators because that choice is the better economical and environmental deal for the state.
Judge Eric Lipman's ruling must be approved by the Minnesota Public Utilities Commission, which initially ordered the proceeding to force energy companies to compete on price. The commission is expected to issue its final ruling in March.
Lipman said in the 50-page ruling, issued Tuesday, that the Geronimo project "will have numerous socioeconomic benefits, minimal impacts on the environment and best supports Minnesota's efforts to reduce greenhouse gases."
The decision, if approved, would help Xcel fulfill its requirement to attain 1.5 percent of its power from the sun by 2020 under a new state energy law.
Geronimo Vice President Betsy Engelking said the decision marks a turning point for the solar industry because it is the first time that unsubsidized solar energy has gone head-to-head with natural gas resources and been selected as the best option.
"The judge decided that it was the best option for economic and environment reasons," Engelking told Al Jazeera. "Economically, the judge found that it was the lowest cost option offered."
If the decision stands, Geronimo plans to build roughly 20 solar arrays at a cost of $250 million.
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