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.
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...
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...
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...
Saving the Earth by Making Energy Industry's Boardrooms Diverse
Ainslie Chandler for Bloomberg: The U.S. energy sector accounts for 83.6 percent of the country’s carbon emissions, according to the Environmental Protection Agency, so tackling climate change effectively requires their participation. Some experts worry the lack of diversity in their leadership is hindering that shift.
Energy-sector boards are the least diverse of any industry globally, with 8.2 percent of seats occupied by women, compared with an average of 10.5 percent for all businesses, according to data compiled by Bloomberg. That translates to an average of just 0.7 women on the board of each of the 650 energy companies in Bloomberg’s review.
More than 170 countries signed the Paris Agreement in April, which aims to limit the global temperature increase to below two degrees Celsius. If this target is going to be met and the transition to a “de-carbonized” economy made, companies will need to fundamentally change, so leadership teams also have to change, said Rachel Kyte, chief executive and special representative of the UN Secretary-General at Sustainable Energy for All.
“It’s like this bus is coming toward us,” Kyte said of climate change and the transition to renewable energy. “If you keep asking the same people and they keep coming up with the same answer, we’re not going to manage this transition very well.” Cont'd...
Storage Solutions for Alternative Energy
One obstacle that is holding back adoption to renewables is the lack of any efficient means of storing this energy. However, some highly innovative solutions might be able to help solve the issue of preserving alternative energy for long-term use.
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...
Southern States Lead Growth in Biomass Electricity Generation
Several states, especially those in the South Census region, have increased their electricity generation from biomass.
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