Energy Update
A wave of new planned electric vehicle battery plants will increase North America’s battery manufacturing capacity from 55 GWh/year in 2021 to nearly 1,000 GWh/year by 2030.
Most of the announced battery plant projects are scheduled to begin production between 2025 and 2030. By 2030, this production capacity will be capable of supporting the manufacture of roughly 10 to 13 million all-electric vehicles per year. The data were announced by the Department of Energy.
WASHINGTON (AP) — Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. The credit, part of changes enacted in the Inflation Reduction Act, is designed to spur EV sales and reduce greenhouse emissions.
Contributed by Guohui Yuan, Systems Integration Program Manager, U.S. Department of Energy Solar Energy Technologies Office
SolarEdge Technologies said it will acquire the entire share capital of Hark Systems Ltd., a UK-based Software as a Service (SaaS) Internet of Things (IoT) platform. Hark’s customer base includes some of the largest supermarket chains in the UK.
Terms of the deal were not disclosed.
A roadmap has been proposed to achieve 6 GW of energy storage in New York state by 2030, equivalent to at least 20% of the peak electricity load.
The roadmap, which is now before the Public Service Commission for consideration, proposes 3 GW of new bulk storage, 1.5 GW of new retail storage, and 200 MW of new residential storage alongside an array of other actions intended to unlock the rapid growth of renewable energy across the state.
A select group of Midcontinent Independent System Operator (MISO) Transmission Owners is asking the Federal Energy Regulatory Commission to allow them to stop paying renewables developers for reactive power. FERC must reject this proposal and remain fair to independent power producers and renewables developers.
Thin film PV maker Ascent Solar Technologies lined up an equity-based financing facility of up to $50 million from two institutional investors.
Under terms of the agreement, Ascent issued $12.5 million in convertible advance notes and another $2.5 million in convertible advance notes in a concurrent private placement transaction.
Net proceeds are expected to pay fees and expenses related to the financing and for working capital and other general corporate purposes.
For an industry accustomed to experiencing the highest of highs and the lowest of lows, 2022 tested clean energy's tolerance maybe more than any other.
Solar and energy storage developer Primergy Solar said it closed with Rabobank a $75 million revolving credit facility with the option to increase it up to $200 million.
The facility is expected to be used to support the company’s solar and solar+storage project development pipeline across the U.S.
A new approach to manufacturing perovskite solar cells addressed previous problems and yielded devices with high efficiency and excellent stability, researchers at the National Renewable Energy Laboratory (NREL) report in the journal Science.
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