Energy Update
A growing imbalance between power purchase agreement supply and demand, along with “skyrocketing” development costs, lifted PPA prices 9.7% during the first quarter of 2022 to nearly $40 per MWh, according to LevelTen’s Q1 PPA Price Index report.
The firm said that year-over-year, that represents a 28.5% increase, which it called “astounding.”
A growing imbalance between power purchase agreement supply and demand, along with “skyrocketing” development costs, lifted PPA prices 9.7% during the first quarter of 2022 to nearly $40 per MWh, according to LevelTen’s Q1 PPA Price Index report.
The firm said that year-over-year, that represents a 28.5% increase, which it called “astounding.”
Virginia has a new law that benefits new rooftop solar arrays with a nameplate generating capacity of not more than 25 kW.
The bill, which was signed into law April 11 exempts those arrays from state and local taxes. The bill, SB 686, takes effect on January 1.
The exemptions are good for five years and already-paid taxes may be reimbursable.
Contributed by Matthew A. Karmel, environmental attorney at Riker Danzig
Data released by the International Renewable Energy Agency (IRENA) shows that renewable energy continued to grow and gain momentum in 2021 despite global uncertainties, with global renewable generation capacity reaching 3.064 TW, increasing by 9.1%.
Canadian zinc-air battery maker e-Zinc said it raised $25 million in Series A financing to support the production of its first commercial long-duration energy storage system.
A Seattle-based developer submitted an unsolicited bid to the federal Bureau of Ocean Energy Management (BOEM) to build what could be Washington State's first offshore wind farm.
(Tue, 12 Apr 2022) The <a href='/maps/pdf/Permian-p2_Spraberry_Midland.pdf'>Permian Basin Report, Part II</a> contains updated maps and information on major hydrocarbon Wolfcamp and Spraberry plays of the Midland Basin, which is the part of the larger Permian Basin. Structure and thickness maps of <a href='/maps/maps.php#midland'>Wolfcamp and Spraberry formations</a> are also presented as standalone products, including shapefiles.
(Tue, 12 Apr 2022) We released an updated <a href='/maps/maps.php'>map library of hydrocarbon exploration, resources, and production.</a> This site features detailed maps and reports on selected oil and natural gas plays and enhanced navigation and data accessibility features. The available maps, based on well-level data, include selected hydrocarbon-producing formation structure and thickness contours, well locations, and production.
Former FERC Chairman Jon Wellinghoff commented in a recent podcast that it is likely time to bring back the Standard Market Design spearheaded by FERC Chairman Pat Woods in the early 2000s.
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