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A123 Systems Announces 3Q Financial Results

2009-11-11T23:58:14Z

A123 Systems (Nasdaq:AONE), a leading supplier of high-power lithium ion batteries designed for application to transportation and grid stabilization, announced third quarter financial earnings yesterday. The third quarter of 2009 was a particularly productive time for the eight-year-old Massachusetts based company. The company went public, raising a net of $391 million. In addition, A123 was awarded almost $250 million by the Department of Energy to continue research and development of advanced battery technology

According to the financial press release, the company has

signed a supply agreement for certain programs with BMW, received notice of a design win for a new application with an existing heavy duty customer and won several development projects in the automotive sector…[the company is] highly focused on establishing a strong market position in the electric grid services market, as [they] have in the automotive sector.

A123 is definitely betting that the transportation sector will begin to offer more and more battery-powered vehicles as it weans cars off oil and towards the electrical grid. This also means that the potential for solar parking lots to scale is on the horizon. For more on A123 Systems and the type of products they are bringing to market, click here.

A123 Systems Announces 3Q Financial Results

New Jersey Solar Loan Program Expanded

2009-11-11T16:33:18Z

If you own a business or live in PSE&G service territory in New Jersey and have been thinking about installing solar, but have not been sure how to finance such a large investment, now may be the time for you to move forward. The utility’s ultra-popular solar loan program just received the go-ahead from the New Jersey Board of Public Utilities (BPU) to expand to the tune of $143 million. This additional capital should fund up to 51 MW of additional solar capacity for what has turned out to be one of the country’s fastest-growing solar markets.

Here are some of the main points of the Solar Loan II program as laid out in yesterday’s press release:

Any solar installation is eligible, including residential, commercial, industrial, government, etc., as long as it’s a project of a PSE&G electric customer
Projects may not exceed 500 kw
The loan may cover up to half of the gross cost of the solar installation, to be repaid over a span of up to 10 years for residential customers and up to 15 for all others
Participation in the loan program does not affect eligibility for other solar incentives, such as New Jersey’s solar rebate and the federal tax credit

But here is what may be the coolest part of this program: the loan may be repaid with cash, or with the solar renewable energy certificates or SRECs generated by the system. This means you would be repaying your solar loan with value entirely produced by your solar panels. And the clever use of SRECs doesn’t end there: PSE&G will use the SRECs it receives to help offset the bill for this program, which is being footed currently by a surcharge on its customers’ monthly bill.

PSE&G’s electric customers will pay for the cost of the solar program through the RGGI Recovery Charge (RRC), which is included in the delivery part of their monthly bill. PSE&G will sell the SRECs it receives for loan repayment in an auction, and credit the proceeds from the sale to customers through the RRC, which will offset a portion of the program costs. The average residential customer who uses 722 kilowatthours in a summer month and 6,960 kilowatthours annually will pay about 36 cents more per year than they do now.

New Jersey’s unique package of incentives–a rebate coupled with a strong SREC trading program, on top of the federal tax credit–has made it one of the best states in the nation in which to pursue a solar installation for both homes and businesses. If you’ve been on the edge, you’re a PSE&G customer, and financing is what’s been holding you back, it may be time to take the leap.

New Jersey Solar Loan Program Expanded

Japan: Going Solar, In Space

2009-11-11T00:30:44Z

In what may be one of its most ambitious solar projects to date, Japan again affirms its reputation for technological savvy: the country’s space agency plans to send arrays of photovoltaic dishes right outside of earth’s atmosphere, where it will collect solar energy and beam it back down using laser beams or microwaves. The Japan Aerospace Exploration Agency (JAXA) plans to have the Space Solar Power System (SSPS) up and running in geostationary orbit by 2030, and the government has already selected the companies and researchers to realize this goal. (Power players include Mitsubishi Electric, Fujitsu and Sharp.)

“Since solar power is a clean and inexhaustible energy source, we believe that this system will be able to help solve the problems of energy shortage and global warming,” researchers at Mitsubishi Heavy Industries, one of the project participants, wrote in a report.

As with any large, multi-billion-dollar government undertaking, the hopes are high. Possessing few energy resources of its own and heavily dependent on oil imports, Japan has long been a leader in clean technologies, not the least of which is solar. SSPS researchers ultimately aim to launch a one-gigawatt system, which would produce electricity at eight yen (~$0.09 USD), one-sixth of its current cost in Japan. The fact that solar energy in space is at least five times stronger in space as it is on earth makes the project doubly attractive.

Having pursued the SSPS project since 1998, the Japanese government has not been idle on the subject of solar in space. With approximately 130 researchers working on the initiative, JAXA has already drawn up a roadmap, detailing steps to reach along the way.

Within several years, “a satellite designed to test the transmission by microwave should be put into low orbit with a Japanese rocket,” said Tatsuhito Fujita, one of the JAXA researchers heading the project.

The next step, expected around 2020, would be to launch and test a large flexible photovoltaic structure with 10 megawatt power capacity, to be followed by a 250 megawatt prototype.

This would help evaluate the project’s financial viability, say officials. The final aim is to produce electricity cheap enough to compete with other alternative energy sources.

There is, however, one major obstacle JAXA admits it needs to address: public opinion.

JAXA says the transmission technology would be safe but concedes it would have to convince the public, which may harbor images of laser beams shooting down from the sky, roasting birds or slicing up aircraft in mid-air.

Japan: Going Solar, In Space

Video Game To Teach Energy Management

2009-11-06T17:02:12Z

The technology is shovel-ready. Utilities are beginning to make the big move and bring smart grid services to customers. But what if the American public doesn’t bite? Cutting-edge technologies designed to increase energy efficiency and control electricity demand are only as useful as the owner who fully utilizes them.

Recently, I’ve asked smart grid industry experts if home area networks (HANs) and in-home display units for energy monitoring come with factory installed settings. Most have responded that they do not, and that it will be up to the individual to determine what settings are appropriate for their home or office – if any.

To bring energy dialogue to the dinner table, Tendril Networks has partnered with a yet-to-be announced company to launch a video game in which conserving energy is the key to winning. Speaking at Gridweek 2009, Tendril CEO Adrian Tuck mentioned the collaboration as a way to bring children into the conversation on energy use from an early age. Studies have shown that children and teenagers have a strong influence on purchases made by parents. Knowing this, a new approach is being applied to energy conservation: educate the children in order to alter adult behavior. This video game is just one innovative way in which to engage the consumer and, hopefully, change consumption patterns through a unique education and awareness campaign.

Video Game To Teach Energy Management

Virginia Solar Rebate Program Now Open

2009-11-10T13:02:01Z

Back in April, we reported that the state of Virginia had set aside $39 million in stimulus funding for renewable energy projects. Of that sum, $15 million was earmarked to help homeowners, businesses and nonprofits install solar power and wind energy systems.

Nearly seven months on, it looks like the funds will finally be made available. On November 3, the Virginia Renewable Energy Rebate Program opened its reservation period. Administered by the Virginia Department of Mines, Minerals and Energy (DMME), the program provides rebates for solar PV panel installations according the following formula:

$2.00/watt for the first 10 kW (AC PTC) of installed capacity
$1.75/W for the next 10 kW
$1.50/W for the next 10 kW (21 to 30 kW)
$1.25/W for the next 10 kW (31 to 40 kW)
And $1.00/W for each additional watt of installed capacity, up to a max of 200 kW

Funds will be reserved on a first-come, first-served basis — so if you’re mulling a solar PV panel installation, better get your butt in gear. If past experience in other states is any guide, these solar rebate funds will go fast.

Applicants must meet the program’s terms and conditions (PDF). Once you’ve reviewed them, the process starts with an online application form, which requests information on system type, system capacity, rebate levels and assurance.

Wind power systems are eligible for a rebate of $1,500/kW of installed, rated capacity. The Virginia Energy Efficiency Rebate program is worth looking into, as well — improving the energy efficiency of your home or business prior to or while installing solar panels is a great way to maximize the return and performance of your solar system.

Virginia Solar Rebate Program Now Open

PSEG, MARS Celebrate Solar Garden

2009-11-09T19:46:38Z

MARS and PSEG Celebrate New 2 MW Solar Panel Array

What’s better than solar power? Chocolate. How do we compensate for this sad reality? By putting a 2 MW solar panel array next to the Mars Chocolate North America headquarters. Today, New Jersey utility PSEG joined Mars officials (including advertising’s favorite walking, talking M&Ms) in Hackettstown for the official grand unveiling of more than 28,000 solar panels.

The 18 acres of solar power provides an impressive amount of electricity for the factory where M&Ms are brought into their delicious, brief existence. According to the press release from PSEG,

The solar garden provides 2 MW of power during peak hours, which is equivalent to approximately 20 percent of the plant’s peak energy consumption. It will reduce carbon dioxide emissions by more than 1,000 metric tons, equivalent to removing 190 vehicles from the road each year.

The solar garden is owned by PSEG Solar Source, and was installed and engineered by Colorado-based juwi solar Inc. using thin film solar panels provided by First Solar. Together with the solar garden, the Mars facility has undergone a number of energy efficiency renovations and will now be applying for LEED Gold Certification.

Has your candy ever tasted so low carbon? No. We didn’t think so.

PSEG, MARS Celebrate Solar Garden

Germany and Morocco to Talk Concentrated Solar Power

2009-11-06T16:39:06Z

When we look at a solar irradiance map of the world, it’s no wonder all eyes are focused on the arid deserts of North Africa. The sun’s rays are intense and provide the optimal climate for utility scale concentrated solar power (CSP). As one of the first movers in the region, the German government is eager to collaborate with Morocco, Tunisia, Libya and Algeria for European investment in electricity infrastructure and renewable energy generation.

According to Bloomberg News, representatives from both the German and Moroccan governments will meet this week in Rabat to spell out details of solar energy development in the North African country. Morocco is a strong contender to receive foreign funding for CSP as it already has an undersea electricity cable running to the European continent. Discussions of a water-desalination plant have also been proposed.

These negotiations follow the path laid by Berlin-based Desertec Foundation, an organization attempting to provide the EU-MENA (European Union, Middle East & North African) region with clean and affordable electricity. Due to the geography of the area, CSP plays a huge role in Desertec’s development plans, which Bloomberg News reports at generating 15% of the EU’s electricity consumption by 2050. At GetSolar, we’ll be sure to keep our eyes on these talks and the development of CSP in Morocco, as well as Desertec’s involvement in helping the EU-MENA region obtain cleaner and more affordable power in the long run.

Germany and Morocco to Talk Concentrated Solar Power

Evergreen Solar Stocks Fall: China Not Enough?

2009-11-06T19:47:18Z

The solar panel manufacturer Evergreen Solar was lured to set up shop in Massachusetts by lucrative tax breaks and even grant money put together by renewable energy fan Governor Deval Patrick. But the company is moving a part of their production practice to China (see Connie’s post on the move for more info). While the state is understandably aggrieved by this decision, stock analysts think it’s a good choice: Evergreen has been struggling with cash flow to the point of having to downsize, and cutting costs however possible does make sense even if it’s not a palatable or socially responsible decision.

However, this move hasn’t been enough to stop the downward spiral of Evergreen’s public shares. Forbes reports on today’s prices in stark contrast to where the company was at one year ago:

[Evergreen Solar's] shares were down 8 percent at $1.42 in afternoon trading on Friday on the Nasdaq. The stock has lost more than 70 percent of its value since hitting a year high of $5.20 in November 2008.

The solar panel glut of the past year, falling panel prices, and stiff international competition have all contributed to Evergreen’s slide. The move to China may staunch the bleeding, but will it be enough to put the company back in the black, especially now that it has effectively ostracized itself from the Patrick administration? Keeping solar panel manufacturing on home shores should be a concern of President Obama as well–this may require more creative problem-solving than just shifting to offshore production.

Evergreen Solar Stocks Fall: China Not Enough?

Evergreen Solar Outsources to China

2009-11-08T21:54:50Z

Massachusetts-based solar cell manufacturer Evergreen Solar , bellwether of the Bay State’s push for clean energy, announced on Wednesday its plans to move solar panel assembly to China. The statement, appearing in the company’s filing of earnings for the third quarter of 2009, arrives less than a year after Evergreen opened the doors to its much-lauded plant in Devens, the recipient of $58.6 million in state aid. Of the 577 full-time and 230 contract workers at the Devens location, half are involved in assembling the panels, though the company declined to comment on how many would lose their jobs as a result of the move.

From the Boston Globe:

In a statement [Wednesday] night, Evergreen said it “remains committed to the investment it has made in Massachusetts. Marlborough is the home of our company headquarters and R&D facilities. Devens will continue to be our US manufacturing location for wafer and cell production, and our staffing plans will remain well within the employment commitment we made to the state when we first announced our plans to build the Devens facility.’’

The company’s intentions to shave costs by shifting assembly to the city of Wuhan and contracting with Chinese manufacturer Jiawei Solar have been out in the open since April, though the recent announcement confirms the industry’s (and presumably Governor Deval Patrick’s) worst fears. When it inked its $58.6 million deal with the Patrick administration earlier this year, Evergreen had promised to repay the state grants, loan, land, tax incentives and other forms of aid with 350 jobs, a promise that has been more than met. But financial difficulties have posed setbacks to the company, thanks to overseas competition and declined solar panel prices. It had also recently requested $5 million from the state to cover equipment purchases, though Evergreen has yet to see the money.

Not surprisingly, the Patrick administration is not pleased.

“Governor Patrick and I are disappointed by Evergreen Solar’s decision to begin moving the final panel assembly component of their business to China,’’ said Ian Bowles, secretary of the state’s Executive Office of Energy and Environmental Affairs. “In just two short years, Evergreen Solar has become a significant employer in Massachusetts, and we will work hard to make sure the company protects the maximum number of jobs in our state.’’

For a company that lost a troubling $167 million over the past nine months, the move to Wuhan—where Evergreen expects to be able to produce solar panels at $1.50/watt—is a decision grounded purely in economics. But at a time when the distribution of federal or state money is closely scrutinized and the creation of green jobs is one the government’s hopeful cures for the ailing economy, the decision has the potential to produce a ripple effect of discontent.

Evergreen Solar Outsources to China

NIMBYism Alive and Well, Even in Sunny California

2009-11-05T14:47:55Z

Not In My Backyard (NIMBY) syndrome is well documented in the wind energy sector. In short, it’s difficult to hide a wind turbine — no matter what size. Nantucket property owners, for instance, have long resisted progress of the Cape Wind, a project that aims to site 130 offshore wind turbines in Nantucket Sound. While the property owners justify their opposition by emphasizing the environmental impacts of the proposed project, it’s difficult to not see an element of NIMBYism in their motivations.

Compared to a large-scale wind project — or even a residential scale turbine — a rooftop solar PV system is undeniably unobtrusive. But, as this story from ABC 7 News in San Francisco makes clear, that doesn’t mean neighbors will always agree.

The owners of a three-unit building in the Upper Haight District had no idea their new $77,000 solar installation on their roof would create so much resentment. They’ve followed every code and every rule.

…

Doug and Karen Kitt showed up before the San Francisco Board of Appeals Wednesday evening to keep their solar project alive. Their neighbors Maureen Gannon and Rohit Verma live behind the Kitts and filed a formal complaint against them. They say ever since the panels went up, their lives haven’t been the same.

…

Gannon and Verma say the panels obstruct their view, harm the character of the neighborhood, and pose a hazard in the event the panels fly off during high winds. They asked the panels to be tilted lower, but the Kitts say that would require redoing the whole project and they maintain their solar system is safe, which was backed up by a representative of the department of building inspection.

“We found that they were all within reasonable design limits for winds,” says Laurence Kornfield from the Department of Building Inspection.

In the end, the Board of Appeals voted unanimously in favor of the Kitts saying there is no safety issue. Plus, they say the goal is to encourage green efforts, not discourage them.

To be sure, the neighbors have a right to voice their concerns. But, as the Board of Appeals found, the basis of their argument was pretty flimsy. Bottom line: in an ideal world, neighbors would communicate prior to an installation. While an open exchange might not allay everyone’s concerns, at least neighbors would feel that their voices are heard. It’s the neighborly thing to do.

NIMBYism Alive and Well, Even in Sunny California