Archive for financing

First Solar Inc. and Sunpower Corp are Planning a Joint Venture

(Bloomberg) — First Solar Inc. and SunPower Corp., the two largest U.S. solar-panel manufacturers, are planning a joint venture that will own and operate some of their projects.
The companies expect to register for an initial public offering for the new venture, according to a statement Monday. They didn’t say when that may occur or how much they would seek to raise through the IPO. The shares surged in after-hours trading.
The SunPower-First Solar venture would be part of a growing trend in the renewable-energy industry to pool projects into publicly traded entities that offer shareholders payouts, known as yieldcos. Companies that build power plants, including Abengoa SA and NRG Energy Inc., sell completed projects to their yieldco affiliates and use that capital to fund new power plants.

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Apple Invests In A Large Scale Solar Energy Project

In San Francisco, California—Apple will spend almost $850 million on a solar energy project, potentially generating enough power for their new corporate headquarters, retail stores, and other facilities in California.

This will make Apple the largest consumer of energy from this new solar facility. Constructed on 2,900 acres in rural Monterrey County, south of San Francisco Bay, the facility will have the capacity of 280 megawatts.

CEO Tim Cook said in an investment conference that this project reflects Apple’s concern for climate change.

The project will begin later in the year and finished by the end of 2016.

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The Carport of The Future

With more than 40 percent of the pavement in an average city tied up in parking areas, it’s safe to say that garages and carports are all around us. Many urban areas are changing the way these concrete blocks are being viewed–one solar panel addition at a time. Solar panel carports have the ability to incredibly impact energy-production all while looking like something straight out of the future.
Certain high-profile corporations and universities have given the special carports a whirl and have since generated an abundance of power. Rutgers University in Piscataway, NJ, currently houses the largest solar parking canopy project in the U.S. With a 28-acre installation, it is no wonder over 60% of the campus’ annual electricity is provided for by the plant. With such incredible amounts of energy produced at Rutgers University by way of “solar parking”, many are left to wonder why similar additions have yet to be started in their area. The discouraging factor for such projects, as stated by Chase Weir of TruSolar, is money. Weir goes on to say, such projects are “The most expensive type of system to build”. Solar carports may be impressively beneficial and aesthetically awing, however there is no denying they are also incredibly expensive…“So at least for now, the market remains relatively niche.”

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Another Step For Solar

For CEO Brad Mattson and CTO Markus Beck of Siva Power, producing gigawatts’ worth of thin-film solar panels through domestic manufacturing is a real possibility. This San Jose, California solar startup company is newly funded and developing the world’s largest-scale and least-expensive thin-film CIGS production line.

The company has received $10 million in new funding, including $3 million DOE SunShot grant, a $3 million conversion of debt financing from Trident Capital, DBL investors, Medley Partners and Acero Capital, as well as $4 million in new capital form the city of Wuxi, China and existing investors DBL, Medley, and Acero.

After focusing on research and development, experimenting with different photovoltaic materials and production processes, Siva has decided on co-evaporated CIGS on large glass substrates. Mattson called the technology “a gift of physics” offering the highest thin film efficiencies and fastest production process.

Siva is in need of $120 million to $150 million to launch is factory. It would be the “world’s first solar giga factory” built on California soil, helping the state reach its new 50 percent renewable goal.

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By Molly Denson

How much fuel does it take to power a 100 watt light bulb for one year?

How much fuel does it take to power a lightbulb

Good Magazine performed an interesting experiment which underscores the benefits of renewables while simultaneously showing off the shortcomings of coal, nuclear and natural gas. It calculated how much energy it would take to keep a 100 watt light bulb burning for an entire year. The results are charted in the infographic below but here is a quick rundown:

Coal: 714 pounds.
Natural Gas: 143 pounds.
Nuclear: 0.35 pounds.
Solar: 8 days, 8 hours and 14 seconds of energy from 100 square meters of solar panels.
Wind: 2 hours, 20 minutes and 9 seconds from a 1.5 MW turbine at 25% capacity.
Hydroelectric: 2 hours and 35 minutes.

Yes, it is an incandescent light bulb.
Forbes Magazine