SolarCity may not have raised as much in its initial public offering than it had once hoped. But at its lowered offering price, the solar power company found more than a few takers. During the first day of trading, the company’s stock jumped as much as 59 percent. The stock closed on Thursday at $11.79, or 47.4 percent above its offering price of $8. That valued SolarCity at $861 million. The strong market debut followed a few days of difficulty for SolarCity and its underwriters, none of whom fully prepared for issues in bringing a clean technology company to market. SolarCity, whose backers include Tesla’s founder, Elon Musk, prides itself on being different from other companies in the solar sector. It finances and installs rooftop solar systems in exchange for long-term monthly payments from its customers and prefers to think of itself as an energy company, rather than just a solar company. The solar leases typically run 20 years.
China, the world’s biggest maker of solar modules, chose Yingli Green Energy Holding Co. (YGE), Trina Solar Ltd. (TSL) and about 100 other developers with a combined 2.8 gigawatts of capacity to receive subsidies. The payouts, under the Golden Sun program, are the second round announced this year, the Ministry of Science and Technology said in a statement on its website. Generators in Jiangsu, a coastal province in eastern China, will gain the most from the aid as 374 megawatts of capacity, including developments by China’s biggest module maker by market valueHareon Solar Technology Co. (600401), will be located there. The government may pay at least 15.4 billion yuan ($2.5 billion) for the projects if they are completed by the end of June 2013, according to Wang Xiaoting, a solar analyst at Bloomberg New Energy Finance in Beijing. China began offering financial assistance for projects under the Golden Sun program in 2009. The nation is increasing assistance as solar-energy manufactures suffer from slowing demand and declining profit.
Renewable energy could fully power a large electric grid 99.9 percent of the time by 2030 at costs comparable to today’s electricity expenses, according to new research ("Cost-minimized combinations of wind power, solar power and electrochemical storage, powering the grid up to 99.9% of the time") by the University of Delaware and Delaware Technical Community College. A well-designed combination of wind power, solar power and storage in batteries and fuel cells would nearly always exceed electricity demands while keeping costs low, the scientists found. “These results break the conventional wisdom that renewable energy is too unreliable and expensive,” said co-author Willett Kempton, professor in the School of Marine Science and Policy in UD’s College of Earth, Ocean, and Environment. “The key is to get the right combination of electricity sources and storage — which we did by an exhaustive search — and to calculate costs correctly.” The authors developed a computer model to consider 28 billion combinations of renewable energy sources and storage mechanisms, each tested over four years of historical hourly weather data and electricity demands. The model incorporated data from within a large regional grid called PJM Interconnection, which includes 13 states from New Jersey to Illinois and represents one-fifth of the United States’ total electric grid.
As more solar manufacturers stumble into bankruptcy, solar installers have been booming thanks to plunging prices for photovoltaic panels and the availability of cash to finance leases that allow homeowners to go green with little or no money down. Yet as SolarCity’s $201 million initial public offering filing shows, installers like the Silicon Valley startup face some of the same risks roiling the solar industry. SolarCity may be in the business of putting solar panels on rooftops but its success – revenues have more than doubled to $71 million since 2009 – relies on putting together investment funds that finance those installations for homeowners in return for monthly lease payments. Over the past three years, SolarCity, founded by Elon Musk’s cousins Lyndon and Peter Rive in 2006, has persuaded companies like Credit Suisse, U.S. Bancorp, Google and utility PG&E to put $1.57 billion into 23 funds to finance leases. More than 90% of SolarCity’s customers now opt to lease rooftop panels rather than purchase them, according to the IPO filing made public Friday. Investors have flocked to those funds to cash in on a 30% federal investment tax credit for solar systems. That incentive was particularly attractive between 2009 and 2012 when the government allowed investors to take the credit in the form of a cash payment. After 2016, the tax credit will fall to 10%.
Solar cell with world's highest conversion efficiency of 37.7% sets new record with triple-junction compound solar cell
Sharp achieved this latest breakthrough as a result of a research and development initiative promoted by Japan's New Energy and Industrial Technology Development Organization (NEDO) on the theme of "R&D on Innovative Solar Cells." Measurement of the value of 37.7%, which sets a new record for the world's highest conversion efficiency, was confirmed at the National Institute of Advanced Industrial Science and Technology (AIST). Compound solar cells utilize photo-absorption layers made from compounds consisting of two or more elements, such as indium and gallium. The basic structure of this latest triple-junction compound solar cell uses proprietary Sharp technology that enables efficient stacking of the three photo-absorption layers, with InGaAs (indium gallium arsenide) as the bottom layer. To achieve this latest increase in conversion efficiency, Sharp capitalized on the ability of the new cell to efficiently absorb light from different wavelengths in sunlight and convert it into electricity. Sharp also increased the active area for converting light into electricity through optimal processing of the cell edges. These improvements led to higher maximum output levels for the solar cell and enabled Sharp to achieve a solar cell conversion efficiency of 37.7%—the highest in the world.
The federal government plans to sell leases for wind farms off the coasts of Rhode Island, Massachusetts, and Virginia, marking the first time it has sold competitive leases for wind energy on the outer continental shelf, officials said Friday. The leases for the two areas, which total more than 430 square miles, will be sold next year, the Department of Interior and its Bureau of Ocean Energy Management said. ‘‘Wind energy along the Atlantic holds enormous potential, and today we are moving closer to tapping into this massive domestic energy resource to create jobs, increase our energy security and strengthen our nation’s competitiveness in this new energy frontier,’’ Interior Secretary Ken Salazar said in a written statement. The announcement was hailed by conservation group Oceana, which called it a major step in developing domestic clean energy. ‘‘We’re getting a step closer to seeing real turbines out there in the water,’’ Nancy Sopko, the group’s ocean advocate, said. ‘‘The more progress is made, it sends that signal out to the rest of the world that the US is serious about developing wind energy here.’’
The renewable energy industry is at a tipping point as developed markets start to close the door on generous subsidy programs and emerging markets develop cost strategies to compete with fossil fuels, according to research from Ernst & Young. The research provides scores for 40 countries for national renewable energy markets, renewable energy infrastructures and their suitability for individual technologies. During Q3 2012, China remained at the top, but dropped a point as its solar sector continued the consolidation process in an effort to boost domestic installation and rationalize government support, which could slow growth in the more immediate term. The quarter also saw the U.S. drop 1.5 points, resulting in Germany moving up into second place ahead of the U.S. While the German government has recently increased the country's renewable energy target for electricity to 40 percent by 2020 and is proactively implementing policy measures to create sustainable growth, the downgraded score reflects the more immediate changes around possible subsidy caps for solar, wind and biomass.
Europe still leads all geographies in terms of overall deals completed. However, the U.S. has been gaining traction and represented a much greater percentage of the total transactions completed in the third quarter of 2012 than it has historically.
As more and more final consumers are metered hourly, the volume of meter values that grid operators have to collect, store, and transmit to other actors in the electricity market continues to grow. But hourly metering does not have to be a burden for grid operators - the growing volumes of meter values can be analyzed in multiple ways to provide grid operators with valuable insights that allow them to make better decisions.
A 14 x 14" MYT engine has 850 cubic inches of displacement and weighs 150 pounds, compared to a conventional engine, which would weigh 3,000 pounds to produce the same power. The engine needs no oil, as the biofuel is the lubricant due to the high lubricity of biofuel. With every tank of fuel, the engine is circulated with more than 20 gallons of fresh engine oil compared to 5 quarts of engine oil circulating over 3,000 miles in conventional engines. You can now skip changing oil forever and have an engine with longer life.
The development of PV systems in the last 10 years has been dedicated mainly to grid-tied systems. Meanwhile all-rural electrification systems have remained basically the same for the past 20 years. However, Yake Solar has engineered a new approach to PV rural electrification.
"Grid parity occurs when an alternative energy source can generate electricity at a levelized cost that is less than or equal to the price of purchasing power from the electricity grid. Reaching grid parity is considered to be an important point in the development of new sources of power.
The reduction in module costs forces manufacturers to add value in other ways, beyond the module, by introducing advancements in BOS and manufacturing. The PV BOS market in general is in a healthy state and equipment revenues are projected to increase from $17 billion in 2011 to about $24 billion in 2016, according to IMS research. Monitoring hardware, mounting structures and tracker systems are expected to capture a growing share of the market.
We wanted people to enter the site and view the solar street lights as they come in and leave the facility as a statement to the public of the state of the art technology that was used throughout the facility. The LED component was chosen for the maintenance free and long life qualities of the technology.
The installation of 14 UGE-4K wind turbines at the Philadelphia Eagles' Lincoln Financial Field proves that distributed renewable energy is within closer reach for all than once thought.
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Our batteries have Xtreme thick plates with (XC Diamond Plate Technology) added to them. They have been designed for hours of heavy discharge each day, followed by a fast recharge during the daylight hours. Very few batteries can take the grueling deep discharge-recharge cycle every day for long periods of time. U.S. Battery has proven time and time again that our solar battery line can stand up to this type of battery torture day in and day out for years to come. When you demand reliable energy storage count on U.S. Battery every time!