Author: solarenergy
The company’s stock price fell below $1 as it announced it was ceasing some operations and ending its lease and power purchase agreement offerings, among other things. July 19, 2024 Ryan Kennedy A residential solar installationImage: Solar powerBy pv magazine USAResidential solar company SunPower (Nasdaq: SPWR) suffered a 70% drop in its stock prices this week and was down nearly 50% on Friday, July 19.Reuters reported that SunPower has communicated to its employees that it will pause several core operations. The company announced that it will deactivate its leasing and power purchase agreement offerings and stop supplying new products.SunPower said…
In a new weekly update for pv magazineOPIS, a Dow Jones company, provides a brief overview of the major price trends in the global PV industry. July 19, 2024 OPISPrices on the module market were rated stable to soft for the second week in a row. The Chinese Module Marker (CMM), the OPIS benchmark rating for TOPCon modules from China, was assessed at $0.096/W, down from $0.002/W due to the discussions heard, while prices for Mono PERC modules remained stable were assessed at $0.090/W versus the previous week.The TOPCon market was quite ‘chaotic’ during the week through Tuesday, with prices…
Solar energy generation increased 174% compared to the first quarter, reaching the highest level of any recent quarter with total solar energy production of 5.14 TWh. Image: UK renewables. In the UK electricity market, average demand for transmission systems fell to 23.5 GW in the second quarter of this year, the lowest level in the second quarter since 2020. This was partly attributed to increased on-board solar generation and load shifting from batteries and other sources. A report from energy data analyst Montel Analytics shows that electricity generation in Britain (excluding imports) fell 17% from the previous quarter to 54.6…
The July 17 letter. In a July 17 letter circulating social media but not yet confirmed by the company, SunPower chief revenue officer Tony Garzolini writes to dealers that the company will no longer support new lease or PPA sales, nor shipments of projects sold with those financing options. The solar installation company said it would deactivate lease and PPA offerings through its EddiE sales and design platform and halt shipments of product not already in-transit. SunPower’s dealers do a significant portion of their work via lease agreements, so this is a blow to local residential installers across the country.…
Brazil’s rapid growth of renewable energy has not been matched by transmission and distribution infrastructure. Connection restrictions for both ‘distributed’ and centralized generation locations are causing companies to adopt new strategies to maintain expansion, reports pv magazine Brazil’S Livia Neves. July 20, 2024 Livia NevesFrom pv magazine 24/06Electric grid queuing in Brazil offers new opportunities for energy storage and hybrid systems and opens up new energy business models. Renewable energy companies including Auren, Statkraft and Casa dos Ventos are adding solar and batteries to their large-scale wind sites to utilize existing energy transmission capacity.Batteries are also gaining ground in small-scale,…
The financing injection will allow Balance to continue expanding its BESS and solar energy portfolio. Image: GridBeyond. Investment manager Triple Point and energy developer Balance Power have announced the securing of a £5.1 million debt facility to fuel the development of Balance’s solar and battery energy storage (BESS) systems in the UK. This represents a new partnership between the two companies, both of which are major players in the solar and BESS sectors. The £5.1 million funding injection will enable Balance to progress its BESS and solar PV projects through its 1.87 GW BESS (1.839 GW) and solar (31 MW)…
First Solar has deployed the Jim Nolan Center for Solar Innovation in Lake Township, Ohio. It includes a high-tech pilot production line for the production of full-scale prototypes of thin-film and tandem PV modules. July 19, 2024 Anne FischerBy pv magazine USAAmerican thin-film solar panel manufacturer First Solar has launched a new R&D innovation center in Lake Township, Ohio. The company said it is the largest facility of its kind in the Western Hemisphere.The Jim Nolan Center for Solar Innovation is dedicated to the late James “Jim” F. Nolan, a former member of First Solar’s board of directors and the…
Sunrun announced that its CalReady power plant has been activated to support California’s electric grid during the recent heat wave. Batteries from the solar and storage systems of more than 16,000 Sunrun customers provided power during peak hours for four consecutive evenings from July 9 to 12. Sunrun customers’ batteries supplied the grid with an average of 48 MW per night, enough to power 48,000 homes – a city the size of Santa Monica – and peaked at 51 MW, exceeding the capacity of several expensive and polluting gas-fired peaker power stations. factories in California. Home solar and battery systems…
A research group has investigated the potential for PV on walls and roofs of buildings across Norway. It says that up to 36% of feasible solar energy, or about 31 GW, could be integrated into the national energy system to align generation and consumption patterns. July 19, 2024 Patrick JowettA new research paper has calculated the technical potential of installing solar energy on walls and roofs of buildings across Norway and the feasibility of integrating the energy into the country’s electricity grid.The article – written by Hassan Gholami, a consultant for Norwegian Multiconsult – examines hourly electricity demand data between…
The Massachusetts House of Representatives passed it H.4876, a critical piece of legislation that addresses key challenges facing the Commonwealth’s solar and storage industries. The bill includes provisions to encourage the deployment of new solar and storage, streamline siting and permitting processes at the state and local level, and address project interconnection challenges. The bill now heads to the conference committee where members of the House and Senate will work to finalize a compromise bill. Below is a statement from Valessa Souter-Kline, Northeast Regional Director of the Solar Energy Industries Association (SEIA): “The solar and storage industry is pleased to…