Tesla has just put in an offer to acquire SolarCity
Johana Bhuiyan for Recode: Tesla’s board of directors has just sent an offer to acquire SolarCity to the company’s CEO. In other words, the electric car company Elon Musk is the CEO of just offered to buy the solar company Elon Musk is the chairman of.
In the letter, sent to SolarCity co-founder and CEO Lyndon Rive, Tesla’s board of directors offered to buy all of SolarCity’s remaining common stock in exchange for Tesla’s common shares. That’s $26.50 to $28.50 a share, according to the board.
The stock-for-stock deal amounts to about $2.8 billion based on where Tesla stock was trading before the proposal was announced.
As of yesterday, Musk personally owns 22,160,370 shares of SolarCity. So if the respective boards of each company approves the acquisition, Musk would personally reap $587,249,805 to $631,570,545.
Tesla’s move to acquire the solar company will help Musk in his goal of accelerating the world’s transition to using completely sustainable fuels in transportation. Cont'd...
The "Redox" Principle
The energy density of the nanoFlowcell® is currently 20 times higher than that of a lead accumulator. This means the stored energy provides a range 20 times higher than with a battery of the same weight.
Very Large Lithium-ion Batteries
In the case of the relatively new market for very large, ground-based lithium-ion battery packs for such things as grid peak shaving, weight is not a primary issues, volume can matter somewhat but life, cost over life, performance and reliability matter greatly.
Panasonic Announces New Solar Panel Installer Program
• Panasonics new program offers two levels of benefits, "Authorized Installer" and "Premium Installer"
• Participating solar installers will have access to a variety of assets provided by Panasonic to help increase sales
Siemens, Gamesa merge to create wind power giant
From DW.com: Spanish renewable energy group Gamesa has agreed combine its wind power business with those of Germany's Siemens in a deal that will create one of the world's largest makers of wind turbines.
In a note to the Spanish stock market regulator on Friday, Gamesa said it had reached the necessary "corporate approval for the potential integration of Siemens' wind business," with the final terms of the deal still needing to be agreed upon. The announcement followed months of negotiations between the two companies and it comes as demand for wind power surges as countries develop more renewable energy to comply with emissions cut targets. Although no price tag has so far been put to the merger, financial news agency Bloomberg reported that Siemens would pay around one billion dollars (890 million euros) to Gamesa as part of the operation. The German engineering group would hold a majority stake of 59 percent of the new wind venture, Bloomberg said, citing people familiar with the matter. Gamesa's biggest shareholder, Spain's biggest power company Iberdrola, would have a 20 percent stake in the new firm, according to Spanish media reports. Cont'd...
Siemens and Gamesa to merge wind businesses to create a leading wind power player
Merged company will maintain its strong presence in current markets
Electric Utilities Prepare for a Grid Dominated by Renewable Energy
Julia Pyper for GTM: A growing number of electric industry leaders agree that it’s only a matter of time before renewable energy resources dominate their grid systems.
In California, it’s already a reality, said Steve Berberich, president and CEO of California Independent System Operator Corporation. On a typical day, CAISO will pull about 30,000 megawatts of energy production, with around 6,500 megawatts from solar, 5,000 megawatts from wind and another 5,000 from geothermal and other services on the system. In addition, California’s grid system has roughly 4,000 megawatts of behind-the-meter solar, which is growing at a rate of about 70 megawatts per month.
In any given day, California gets more than 30 percent its electricity from renewable energy. On many days that amount climbs to 40 percent, and on some days renewables reach 50 percent, said Berberich.
“Now we have to think about the system as a renewable energy-based system complemented by other things,” he said, speaking at the Edison Electric Institute’s annual convention this week in Chicago. Cont'd...
Electric Utilities Prepare for a Grid Dominated by Renewable Energy
Julia Pyper for GTM: A growing number of electric industry leaders agree that it’s only a matter of time before renewable energy resources dominate their grid systems.
In California, it’s already a reality, said Steve Berberich, president and CEO of California Independent System Operator Corporation. On a typical day, CAISO will pull about 30,000 megawatts of energy production, with around 6,500 megawatts from solar, 5,000 megawatts from wind and another 5,000 from geothermal and other services on the system. In addition, California’s grid system has roughly 4,000 megawatts of behind-the-meter solar, which is growing at a rate of about 70 megawatts per month.
In any given day, California gets more than 30 percent its electricity from renewable energy. On many days that amount climbs to 40 percent, and on some days renewables reach 50 percent, said Berberich.
“Now we have to think about the system as a renewable energy-based system complemented by other things,” he said, speaking at the Edison Electric Institute’s annual convention this week in Chicago. Cont'd...
With Skilled Volunteers and a High-Performing Kyocera Solar Array, Fallbrook Seventh-day Adventist Church Slashes Energy Costs
The 30kW grid-tie system uses 126 Kyocera solar modules and is currently supplying more power to the grid than the church consumes.
Coal and Gas to Stay Cheap, but Renewables Still Win Race on Costs
This year's edition of BNEF's long-term forecast sees $11.4 trillion investment in global power generation capacity over 25 years, with electric vehicles boosting electricity demand by 8% in 2040.
Virtual Power Plants Get Around Solar Power's Intermittency Problem
Richard Martin for MIT Technology Review: Attempting to harness the power of distributed rooftop solar installations to make its grid more flexible and reliable, New York utility Consolidated Edison is launching a pilot program this summer to link dozens of small solar arrays into a single, software-connected power plant. The utility is working with solar power developer SunPower and energy storage company Sunverge to create a “virtual power plant”—a network of distributed assets that functions as a unified resource on the grid.
The project will include 300 homes with a combined total of 1.8 megawatts of solar capacity and batteries that can store up to four megawatt-hours of electricity, enough to run 300 average U.S. households for about 10 hours. Cont'd...
Virtual Power Plants Get Around Solar Power's Intermittency Problem
Richard Martin for MIT Technology Review: Attempting to harness the power of distributed rooftop solar installations to make its grid more flexible and reliable, New York utility Consolidated Edison is launching a pilot program this summer to link dozens of small solar arrays into a single, software-connected power plant. The utility is working with solar power developer SunPower and energy storage company Sunverge to create a “virtual power plant”—a network of distributed assets that functions as a unified resource on the grid.
The project will include 300 homes with a combined total of 1.8 megawatts of solar capacity and batteries that can store up to four megawatt-hours of electricity, enough to run 300 average U.S. households for about 10 hours. Cont'd...
State of the Market: Wind Power Projects in Egypt
The broad range of wind energy project sizes and locations in Egypt demonstrates the increasing importance of the country as a renewable energy producer, supplier, modular manufacturer, skills trainer and investment opportunity.
State of the Market: Wind Power Projects in Egypt
The broad range of wind energy project sizes and locations in Egypt demonstrates the increasing importance of the country as a renewable energy producer, supplier, modular manufacturer, skills trainer and investment opportunity.
Solar Signage Board
Since they have to be lit up at night, the advantages of using independent solar modules and inbuilt battery have many advantages.
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