Here's how Mosaic works: Investors contribute a minimum of $25 to a project. Over the next 5 to 10 years—depending on the project—the investors will make that money back, plus interest. The return on the investment ranges from 4.5 to 6.4 percent annually, depending on the project. They can support projects in any state, but right now only accredited investors and people in New York and California can invest in the projects, due to regulatory barriers in other states. In order to qualify, projects must be for organizations that are financially stable, have adequate insurance, and benefit the wider community in some way. Recent projects include affordable housing projects, a convention center, several nonprofits, a grocery store, and a Native American reservation. Mosaic's founders want to do for solar energy what Kickstarter has done for bands and independent films, or what Kiva has done for upstart projects in the developing world. But Mosaic's model goes beyond most other crowdsourcing sites, by not only allowing supporters to invest in the solar project but also make a profit doing so.
Foxconn has announced plans to build a solar power network in China encompassing new factories and plants. According to a statement released by the Chinese Ministry of Commerce, the Taiwanese electronics manufacturer is investing in one research center, five solar-power components factories, and 20 solar-power generating plants in the southern province of Guangxi. Foxconn since 2012 has been shifting its focus toward solar power, pouring nearly 100 billion yuan (US$16 million) in other provinces in China, where the government has provided solar manufacturers with heavy subsidies. In the face of competition, increasing labor cost and pressure from business customers, Foxconn's cellphone subsidiary company had failed to meet market expectation and reported an annual loss of US$316 million in its fiscal 2012. Hence, to some, the moves could be seen as part of a strategic plan. Despite last week bankruptcy filing of SunTech, China's biggest solar panel manufacturer, the outlook for the domestic market remains encouraging, according to Shen Hongwen, an analyst from CIConsulting company. Foxconn should be able to tap the expanding Chinese market by utilizing its financing power and management expertise, Shen said.
How much energy can we use from the sun's rays? Apparently, we can utilize far more than previously thought. A new study shows that the energy limit is far higher than first believed. The new study, described in the journal Nature Photonics , studied how to develop and improve the quality of nanowire crystals. These nanowires possess a cylindrical structure and a diameter that's about 10,000 part of a human hair. They hold enormous potential for the development of solar cells and the future of quantum computers and other electronic products. So how do these nanowires work? They naturally concentrate the sun's rays into a very small area in the crystal that they possess by up to a factor of 15. Due to the tiny nature of the wire's diameter, the crystal can cause resonances in the intensity of light in and around nanowires. These resonances can concentrate the sunlight and convert it into energy, essentially giving a higher conversion efficiency of the sun's light. Previously, scientists thought that the efficiency limit of sunlight was far lower. Known as the "Shockley Queisser Limit," it was held as a landmark for solar cell efficiency for many years. Yet with the discovery and development of these nanowires, it seems that the limit is far higher than previously thought.
Scientists at Stanford University have improved the efficiency of a revolutionary solar cell by around 100 times. Unlike standard photovoltaic cells, which only capture light energy, Stanford’s new device captures both light and heat, potentially boosting solar cell efficiency towards 60% — way beyond the 30-40% limit of traditional silicon photovoltaic solar cells. This new device uses a process called photon-enhanced thermionic emission (PETE). In photovoltaic cells, photons strike a semiconductor (usually silicon), creating electricity by knocking electrons loose from their parent atoms. The PETE process is similar, but also very different and altogether rather complex. In essence, think of it as the photovoltaic equivalent of a turbocharger. Full Article.
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.
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."
Wind-farm construction in the U.S. nearly ground to a halt after ending in a frenzy late last year. But the pace of turbine installation is set to pick up substantially later this year, largely thanks to the recently enacted extension of the federal production tax credit, say utility and wind-sector experts. Frank Maisano, an energy specialist at Bracewell & Giuliani, a law firm in Washington, D.C., with renewable-energy clients, says that, with so much uncertainty about extending the credit beyond 2012, many developers rushed to finish projects by year-end. The American Wind Energy Association says wind-turbine contractors brought on line a record 13,124 MW of wind capacity in 2012, including 8,380 MW in the last three months. Tim Maag, vice president and general manager at Mortenson Construction, saw a big drop-off in wind-farm work for the first half of 2013. "Due to the fact that the extension took so long to get passed, most of our customers had put their construction plans on hold, which was expected," he says, adding that work in the third and fourth quarters will be "very robust." Says Maag, "We have responded to numerous RFPs and pricing requests since the beginning of the year." The tax-credit extension approved by Congress and signed by President Obama in January as part of the "fiscal cliff" compromise provides a $22/MWH tax credit for the first 10 years of a wind farm's operation. For the first time, the latest extension applies to all projects under construction by Dec. 31, 2013, even if they are not completed until next year. Under the previous tax credit, a wind farm had to be completed and operational by the end of 2012 to qualify.
Among the many roadblocks that have prevented offshore wind farms from proliferating off the Atlantic coast is how to get the electricity generated from the Outer Continental Shelf to the mainland. A transmission “backbone” that would run under the ocean floor parallel to the coast is being proposed as a solution to that problem. The Atlantic Wind Connection, which counts Google Inc. among its corporate sponsors, seeks to connect up to 7,000 megawatts of offshore wind power to locations on land between northern New Jersey and southern Virginia. The backbone transmission line would allow many individual wind turbines to connect to it and then deliver that electricity to land through a handful of connections. The alternative would be aboveground individual lines from one or a handful of wind turbines, lines that typically operate at a lower capacity and present more environmental challenges. Earlier this year, Atlantic Wind Connection announced that the first phase of the project would be constructed off the New Jersey coast because of the state’s commitment to developing the industry, not to mention the electricity potential off the state’s southern shores.
Transparent solar panels — think about it for a moment: Sheets of transparent glass or plastic film that also generate electricity. It’s almost the perfect solution for all our energy needs, generating free power from every available surface, window, and computer display. The concept of transparent solar panels isn’t new, of course, but it now looks like they’re finally finding their way to market: Ubiquitous Energy, a startup that was spun off from MIT last year, is developing a technology and patent portfolio and hopes to bring affordable transparent solar panels to market soon. At this point, you might be wondering how transparent solar cells actually work — after all, if it’s transparent, how can it absorb light energy? The simple answer is that light energy comes in many frequencies (colors), but as far as we humans are concerned, it is only the visible wavelengths — from blue, through green and yellow, to red — that really matter. The Sun, however, pumps out a huge amount of infrared light, and some ultraviolet light — both of which are invisible to the human eye, but which can also generate large amounts of electricity if captured by a solar cell. Full Article:
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