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...
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...
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...
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.
New Solar Cell Device Surpasses Theoretically Predicted Efficiency Limit
Thomas Burton for Energy Technology Matters: A team of researchers at the Massachusetts Institute of Technology (MIT) published a paper last week in the journal Nature Energy that described how they built a working solar thermophotovoltaic device (STPV) that enables solar cells to break through a theoretically predicted ceiling on how much sunlight they can convert into electricity. With this revolutionary new technology, the researchers show the potential of how solar panels can generate even more energy than theoretically determined by harnessing some of the panels’ waste. To learn more about the STPV technology, read on!
Since 1961, the Shockley-Queisser Limit established an absolute theoretical limit on traditional solar cell efficiency regarding energy conversion. A single-layer of silicon cells—the type of cells most widely used in today’s solar panels—has an upper limit of 32 percent. But currently, researchers are studying ways to increase this overall efficiency by using multiple layers of cells or converting the sunlight first to heat before generating electrical power. This latter method uses devices called STPVs, which the MIT team used in their study. Cont'd...
Dubai Is Building the World's Largest Concentrated Solar Power Plant
George Dvorsky for Gizmodo: They like to do things big in Dubai, including a newly-approved concentrated solar power project that will generate 1,000 megawatts of power by 2020—and a whopping 5,000 megawatts by 2030.
The Dubai Water and Electricity Authority (DEWA) has announced the launch of the world’s largest concentrated solar power (CSP) project. Located on a single site within the Mohammed Bin Rashid Al Maktoum Solar Park, the plant will consist of five facilities. The first phase of the project is expected to be completed either in late 2020 or 2021, at which time it’s expected to generate 1,000 MW of power. By 2030, this plant could be churning out five times that amount—enough to raise the emirate’s total power output by 25 percent.
By comparison the Ivanpah CSP in California (which is currently the world’s largest) generates about 392 MW of power. Morocco’s Ouarzazate solar power plant will provide about 580 MW of power once it’s complete in 2020. Cont'd...
The Pantex Renewable Energy Project (PREP)
The wind farm is playing a key role in helping Pantex achieve President Obama's directive that the federal government lead the way in clean energy and energy efficiency, with his Administration's goal for the federal government to get 20% of its electricity from renewable resources by 2020.
Construction of the largest land-based wind turbine ever built in the United States.
“Reaching New Heights” uses a combination of time-lapse footage, aerial photography and behind-the-scenes action shots to document the steps involved in building MidAmerican Energy’s first concrete wind turbine tower, located at the company’s Adams wind farm in Adams County, Iowa. At 379 feet from ground to hub, the concrete turbine is more than 100 feet taller than its neighboring turbines constructed with steel towers.
Middle Schoolers Dream Big with Their Solar and Battery Powered Cars
The race, sponsored by the Energy Department, its National Renewable Energy Laboratory (NREL), the Alliance for Sustainable Energy, Jeffco Public Schools, and Dakota Ridge High School, is designed to boost interest in science, technology, engineering, and math (STEM) fields.
Moving off-the-grid and into a micro-house in the Southern Adirondacks.
New York State resident Matt Holleran refuses to be one of the many Americans paying one third of their income on housing. For that reason, he's moving off-the-grid and into his very own micro-house in the Southern Adirondacks.
Offshore Wind Arrives in U.S. Waters
By Daniel Cusick, ClimateWire for Scientific American: The first offshore wind farm in the United States is set to begin delivering power to Rhode Island’s electricity grid by year’s end, a milestone that could help reshape energy markets from New England to South Florida, experts say.
But for U.S. offshore wind power to achieve its full potential, as much as 4 gigawatts of capacity, it will need a major influx of capital and know-how, much of which will come from Europe, where the technology has a 25-year performance record and now accounts for 11 GW of generation capacity on the continent.
Representatives of top U.S. and European wind firms—including executives of Deepwater Wind, the firm building the 30-megawatt Block Island Wind Farm off Rhode Island—told industry peers gathered on the Gulf Coast last week that the industry should act now to establish the technical, logistical and policy frameworks to build more offshore wind farms in the United States. Cont'd...
Nanomaterials could double efficiency of solar cells by converting waste heat into usable energy
Devin Coldewey for TechCrunch: An experimental solar cell created by MIT researchers could massively increase the amount of power generated by a given area of panels, while simultaneously reducing the amount of waste heat. Even better, it sounds super cool when scientists talk about it: “with our own unoptimized geometry, we in fact could break the Shockley-Queisser limit.”
The Shockley-Queisser limit, which is definitely not made up, is the theoretical maximum efficiency of a solar cell, and it’s somewhere around 32 percent for the most common silicon-based ones.
You can get around this by various tricks like stacking cells, but the better option, according to David Bierman, a doctoral student on the team (and who is quoted above), will be thermophotovoltaics — whereby sunlight is turned into heat and then re-emitted as light better suited for the cell to absorb. Cont'd...
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