Suntech, one of the world's biggest solar panel manufacturers, has defaulted on a $541m (£358m) bond payment in the latest sign of the financial squeeze on the struggling global solar industry. Suntech Power Holdings' announcement was a severe setback for a company lauded by China's Communist government as a leader of efforts to make the country a centre of the renewable energy industry. Its founder, Shi Zhengrong, became one of the industry's most prominent entrepreneurs and a billionaire, only to see most of his fortune evaporate as the company's share price plummeted. The company is "exploring strategic alternatives with lenders and potential investors," David King, who replaced Shi as a CEO last year, said in a statement. Suntech was due to make a $541m bond payment on Friday but ran short of cash following heavy losses over the past year.
GTM Research and the Solar Energy Industries Association® (SEIA®) today released U.S. Solar Market Insight: Year-in-Review 2012, the definitive analysis of solar power markets in the U.S. With another record-breaking year, solar is the fastest growing energy source in the U.S., powering homes, businesses and utility grids across the nation. The Solar Market Insight annual edition shows the U.S. installed 3,313 megawatts (MW) of solar photovoltaics (PV) in 2012, a record for the industry. Perhaps most importantly, clean, reliable, affordable solar is continuing a major growth pattern that has made it a leading source of new electricity for America that's increasingly competitive with conventional electricity across dozens of states today. Even with the cost of solar falling for consumers, the market size of the U.S. solar industry grew 34 percent from $8.6 billion in 2011 to $11.5 billion in 2012—not counting billions of dollars in other economic benefits across states and communities. As of the end of 2012, there were 7,221 MW of PV and 546 MW of concentrating solar power (CSP) online in the U.S. -- enough to power 1.2 million homes. At the state level, 2012 was another year for breaking records. California became the first state to install over 1,000 MW in one year, with growth across all market segments. Arizona came in as the second largest market, led by large-scale utility installations, while New Jersey experienced growth in the state's non-residential market. In addition to record annual installations, the fourth quarter (Q4) of 2012 shattered all-time quarterly records as well, with 1,300 MW of installed PV, besting the previous high by a whopping 64 percent. The residential and utility segments had their best quarters ever, installing 144 MW and 874 MW respectively.
People are becoming aware of the importance of ocean energy, which will lead to a new era of alternative energy. Because of this knowledge, tidal energy has great potential and bright prospects in future.
It used to be that solar costs were dominated by one thing: the cost of the actual panel. But now, things are quite different. Solar panels comprise less than 40% of the cost of a rooftop solar system on average across the U.S.
EcoFactor builds cloud-based analytics software that powers multiple residential energy saving services. We process massive amounts of data, including physical household characteristics and consumer behavioral interactions.
By differentiating between a true utility outage (where anti-islanding is necessary) and a grid disturbance (during which the PV system could actually help support grid stability), inverters can stay online during grid disturbances and produce responses to stabilize the grid.
SSFTV means Solar used hydrogen production, Solid state hydrogen storage, Fuel cell (PEM), Tornado power generation and finally Vapour absorption refrigeration cycle. This is a group of Green Technology ideas which can be used in corporates, industries and houses.
It is highly recommended that turbine OEM's consider thermostatically controlled heater elements for their florescent lighting fixtures as a standard item when considering their lighting systems for use in extreme cold climate applications.
The U.S. approved three renewable-energy projects to be built on federal land in California and Nevada. The two solar farms and one wind project are expected to total 1,100 megawatts of capacity, enough to power more than 340,000 homes, Interior Secretary Ken Salazar said today at a press conference in San Francisco. The U.S. doubled its use of renewable-energy during the past four years and these projects are part of the Obama administration’s strategy of promoting wider use of solar, wind and geothermal energy on federal lands, he said. The solar farms are in one of 17 zones approved by the Interior Department last year to accelerate the approval process. “They are the blueprint, the bible, if you will, of where solar energy will go on public lands in the years ahead,”Salazar said. The 750-megawatt McCoy Solar Energy Project, owned byNextEra Energy Inc. (NEE), and Electricite de France SA’s 150-megawatt Desert Harvest plant will use photovoltaic technology and are in Riverside County, in Southern California. Duke Energy Corp. (DUK)’s 200-megawatt Searchlight Wind Energy Project is in Clark County, Nevada. Edison International (EIX)’s Southern California Edison utility received approval from state regulators last year to buy power under a 20-year contract from McCoy’s first 250-megawatt phase, which is expected to start producing power in late 2016. EDF and Duke haven’t announced power-purchase agreements and none of the three companies have named suppliers.
China-based Suntech Power Holdings Co Ltd said it would close its only solar panel-making plant in the United States to cut costs, two years after opening the facility that never reached full production. Shares of the company, struggling to cover a convertible bond due this Friday, fell 9 percent to $1.05, their lowest in more than two months. Suntech opened the plant in Goodyear, Arizona in September 2010, saying that making panels in the United States would reduce time, costs and greenhouse gas emissions related to sourcing panels from overseas. The plant, however, has been weighed down by U.S. import tariffs on solar cells and aluminum frames as well as a global panel oversupply. Suntech is required to pay duties of 35.97 percent on solar cells imported from China and used in the plant, the company said on Tuesday. The plant, originally expected to scale up to 120 megawatts (MW) per year, was scaled down to 15 MW in November. The closure, slated for April 3, will affect 43 employees, the company said. Suntech had 17,693 employees as of December 2011, the latest period for which job data is available.
The solar energy business is growing quickly, but future growth will not include oil giant BP. At the IHS CERAWeek energy conference in Houston, BP's CEO made it clear the company is done with solar. "We have thrown in the towel on solar," Bob Dudley said after delivering a wide-ranging speech Wednesday. "Not that solar energy isn't a viable energy source, but we worked at it for 35 years, and we really never made money," he added. BP, which announced it was winding down its solar business last year, says it is still committed to other renewable resources, such as wind power and biofuels production. But the move away from solar is especially striking considering BP's recent history. In 2000, the company changed its logo to resemble the sun and made a big deal of its "beyond petroleum" campaign. BP's exit from solar has more to do with a changing business than lack of will. "The solar industry BP was involved in 10 years ago has very few similarities to the solar industry today," says Finlay Colville, vice president of the research firm NPD Solarbuzz. Colville says BP was one of the early companies in the solar business. Back then, the market was based on a different model — one more focused on research and development. He says now the business is all about efficient production and low prices, something more suited to the Asian companies taking a lead role in the solar panel-manufacturing business; so BP's exit from solar doesn't mean the industry overall is in trouble.
In recent years, the balance usually tips in China's favor when it comes to trade with the United States. But according to a new study there's at least one sector in which America is starting to have the upper hand: clean energy. The United States exported more clean energy products to China in 2011 than it imported, according to a report released Wednesday by the Pew Charitable Trusts, ultimately amounting to a $1.63 billion trade surplus in solar and wind power equipment among other products. About $8.5 billion worth of clean energy goods and services shuttled between the world's two largest economies in 2011, according to Pew. While that's just a sliver of the half a trillion dollars' worth of goods and services traded between China and the United States, the U.S. surplus in the clean energy sector challenges widely held views that China is becoming the world's foremost supplier.
A first-of-its-kind requirement for solar power systems is going to be implemented in Lancaster, California. The requirement is that solar power systems be installed on all new single-family homes within the city. Furthermore, this announcement comes from a Republican mayor. All newly-built single-family homes within Lancaster will be required to feature solar power systems starting on January 1, 2014. This is a rather stunning announcement in itself, but the fact that it comes from a Republican is even more surprising. Mayor Rex Parris is a big solar power advocate, though. You may have heard of him already, as he has previously stated his intention to make Lancaster “the solar energy capital of the world.” The new requirements “will be written into Lancaster’s ‘Residential Zones Update’ on residential solar,” Greentech Media reports. In addition to a variety of new requirements having to do with energy efficiency and green building practices, new single family homes will have to meet minimum solar energy system requirements.
Alta Devices today disclosed that it has reached 30.8% solar cell efficiency. This new NREL (National Renewable Energy Laboratory) verified record has resulted from the company's first implementation of a new generation "dual junction" solar cell technology which augments the company's "single junction" technology. Higher efficiency directly translates into more electricity generated from smaller surface areas. Therefore, applying Alta's highly efficient, very thin and flexible mobile power technology to consumer devices can extend the battery life of everyday products such as smartphones, tablets, keyboards, mice, remote controls, and more. "We are changing the way solar technology is used," said Chris Norris, president and CEO of Alta Devices. "With our technology, enough energy can be generated from sunlight to effectively power devices in ways not previously possible. We are working with a number of customers who are designing their mobile products to increase battery life; and in some cases, we can provide enough energy to eliminate the need to plug into the electric grid."
The continued accumulation of solar project portfolios drove much of the M&A activity in 2012, as transaction activity was strongest among targets categorized as producers of solar energy and EPC integrators/developers.
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