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Updated: 5 days 11 hours ago

Nevados Chooses SYSPRO ERP

Wed, 03/22/2023 - 10:48

SYSPRO, a global provider of ERP software, says Nevados, a solar power equipment manufacturer, has chosen SYSPRO ERP to automate its supply chain processes and provide a financial management system of record.  

The Nevados technology platform pairs all-terrain solar trackers with a comprehensive software suite to optimize solar performance and improve PV plant reliability while respecting the natural landscape. The company’s solar trackers are ideal for sloped and rolling terrain. 

“As a young company, we were seeking an ERP vendor that would help us scale our business,” says Scott Troy, VP of supply chain at Nevados. “We needed to move away from tribal knowledge and manual processes to a system that everyone can follow. It was essential to implement an ERP that had the capacity to grow.” 

The post Nevados Chooses SYSPRO ERP appeared first on Solar Industry.

Standard Solar Acquires Project Portfolio From New Leaf Energy

Wed, 03/22/2023 - 10:39

Standard Solar, a developer of commercial and community solar assets, has acquired a planned 21 MW of solar projects in New York and Massachusetts from New Leaf Energy.

“Community solar projects like these will generate clean, reliable energy needed by residents and businesses and are integral in helping New York and Massachusetts reach their renewable energy and climate goals,” says Michael Streams, chief development officer for Standard Solar. “We’re excited to partner with New Leaf Energy, a like-minded leader in clean energy, as we expand our presence in the state.”

According to the Solar Energy Industries Association, New York ranks ninth in the U.S. for installed solar, while Massachusetts ranks tenth.

The Copicut project in Freetown, Mass., is a single-axis tracker solar plus battery storage project with over 12 MW of solar and 22-megawatt hours of storage. Upon completion, it will produce 17,924-megawatt hours of energy annually. The project received an award from the state’s Solar Massachusetts Renewable Target program, which provides solar and storage project incentives.

The almost 3 MW Main Street Newbury system is located in Byfield, Mass., and is fully subscribed to commercial and residential subscribers in Byfield and the surrounding area. This project is expected to produce 3,571-megawatt hours of clean energy annually.

The Saunders Settlement project in Sanborn, N.Y., is over 6 MW and is expected to produce approximately 8,861 MWh annually.

The post Standard Solar Acquires Project Portfolio From New Leaf Energy appeared first on Solar Industry.

Enel Partners With Nestlé For Investment in Ganado Solar Project

Wed, 03/22/2023 - 10:31

Enel North America, a North American clean energy company, has partnered with Nestlé to be the sole tax equity investor for its 208 MW DC Ganado solar-plus-storage project in Jackson County, Texas. Nestlé will also purchase the renewable energy attributes from the output of the solar plant.   

“Customers of all sizes are seeking clean energy projects to help reduce their emissions and use more renewable energy, whether through PPAs, direct retail electricity purchases, upfront tax equity investments or other tailored agreements,” says Paolo Romanacci, head of Enel North America’s renewable energy business, Enel Green Power. “Enel’s flexible portfolio of solutions scale to meet the needs of each customer, leveraging the business demand for clean electricity to build momentum toward a zero-carbon economy.”

In addition to its direct investment, Nestlé will purchase 100% of the renewable electricity attributes generated by the project’s energy production, estimated to be an average of 333,000 megawatt hours per year for 15 years. 

The annual carbon emission reduction is expected to be about 126,294 metric tons of CO2, which is equivalent to the emissions of more than 27,200 cars per year. Nestlé is committed to sourcing 100% renewable electricity across its sites globally by 2025.

Enel’s Ganado solar-plus-storage project is expected to become operational in Q2 2023.

The post Enel Partners With Nestlé For Investment in Ganado Solar Project appeared first on Solar Industry.

EDF Renewables to Provide Energy to Southern California Public Power Authority 

Wed, 03/22/2023 - 07:09

EDF Renewables North America has signed a 20-year power purchase agreement with Southern California Public Power Authority (SCPPA) for the energy and renewable attributes related to the 117 MW AC /148 MW DC Sapphire Solar project.  

Sapphire Solar will begin delivery of electricity to SCPPA’s participating members, Anaheim, Pasadena and Vernon, by December 31, 2026. In addition to solar production, SCPPA reserves the option to a 59 MW AC, four-hour battery energy storage system.

Sapphire Solar expects to create approximately 250 jobs during the construction phase, with more than $253 million generated in tax revenue over the operating life for taxing entities. Sapphire Solar will generate clean energy while minimizing impacts to wildlife, habitat and other environmental resources.

“This project will help our participating SCPPA Members meet and exceed renewable energy and resource adequacy requirements, while at the same time minimizing costs and maintaining reliability,” says Michael Webster, executive director of SCPPA.

In addition to its economic benefits for Riverside County, the project is expected to generate 375,800 MWh of energy annually, enough to meet the consumption of over 58,000 homes. This is equivalent to avoiding over 266,000 metric tons of carbon emissions annually, which represents the greenhouse gas emissions from over 57,000 passenger vehicles driven over the course of one year.

The post EDF Renewables to Provide Energy to Southern California Public Power Authority  appeared first on Solar Industry.

Bolivar Energy Authority, Silicon Ranch, TVA Debut Bolivar Solar Farm

Tue, 03/21/2023 - 11:06

Silicon Ranch Corp., an independent power producer and community-focused renewable energy company, Bolivar Energy Authority (BEA) and Tennessee Valley Authority (TVA) have opened the 3.25 MW AC Bolivar Solar Farm in Hardeman County, Tenn. 

The solar facility will provide enough solar energy to power more than 500 homes and help keep rates low for BEA’s more than 11,000 customers.

In 2020, TVA began offering local power companies (LPCs) the flexibility to meet a portion of their power needs with generating sources through its generation flexibility program. As one of the first LPCs to execute a deal with TVA under those new terms, BEA chose Silicon Ranch as its partner for the solar project to help keep rates as low as possible.

“As a public power utility in the fifth largest county in Tennessee, BEA is extremely pleased to offer our community a low-cost, reliable energy solution from trusted local partners,” says Tony Kirk, BEA president and CEO. “TVA is enabling us and LPCs across the valley to do just that through its generation flexibility program by providing our community with the opportunity to partner with dependable, renewable energy providers like Silicon Ranch to procure local energy solutions.”

On behalf of BEA and TVA, Silicon Ranch funded construction and will own, operate and maintain the solar facility for the duration of its lifetime, an approach the company takes with every project it develops.

The Bolivar Solar Farm was supported by the USDA through its Rural Energy for America Program initiative, which provides guaranteed loan financing and grant funding to support agricultural producers and rural small businesses with renewable energy systems and energy efficiency improvements. 

The post Bolivar Energy Authority, Silicon Ranch, TVA Debut Bolivar Solar Farm appeared first on Solar Industry.

Ellomay Capital Enters U.S. Solar Photovoltaic Market

Tue, 03/21/2023 - 10:48

Ellomay Capital Ltd., a renewable energy generator and developer, says it has entered into a joint development agreement (JDA) for solar photovoltaic projects in Texas.

The JDA was executed with a project development company experienced in the development of energy projects, site acquisition, capital markets and commercial management. The JDA provides for the initial development, design, construction and finance of two solar PV projects with an aggregate projected capacity of 23 MW DC. The first projects are in advanced stages of development with estimated capital costs of $25 million-$27 million. 

The company’s share of the capital costs of the first projects is estimated at approximately $18 million-$20 million, and the balance is intended to be provided by tax equity sources. The sites for the first projects will be leased under long-term leases from special purpose companies controlled by the development team.  

One of the projects, with a capacity of approximately 13 MW DC, is expected to achieve ready-to-build status within six months. The JDA also provides for the development of three additional solar PV projects with an aggregate capacity of approximately 30 MW DC.

The projects to be developed under the JDA will be subject to the ERCOT distributed generation (DG) scheme for projects of up to 10 MW AC capacity. The applicable electricity market is the ERCOT North zone market.

Under the DG scheme, ERCOT allows owners of generation assets to sell electricity to qualified service entities at market rates under real-time or day-ahead prices at the local nodes of the projects and/or designated behind the meter clients under power purchase agreements.

“The execution of the JDA follows a very careful and in-depth analysis of the U.S. solar PV market by the company and fulfills Ellomay’s strategy to enter into the U.S. market in a careful and gradual manner,” says Ran Fridrich, CEO of Ellomay. “Ellomay identified potential partners for the joint development of solar PV projects in the state of Texas with particular focus on sites in the metro Dallas area, a densely populated area experiencing high economic growth and large potential for future growth in electricity demand.”

The post Ellomay Capital Enters U.S. Solar Photovoltaic Market appeared first on Solar Industry.

Partners Close Tax Equity Investment for 258 MW Project 

Tue, 03/21/2023 - 10:23

Foss & Company, an institutional investment fund sponsor, says it has closed on a tax equity partnership with Birch Creek Energy for approximately $130 million of investment. The investment funds Project Beech, a 258 MW DC solar PV project located in Pecos County, Texas.

This project reduces 425,000 metric tons of carbon dioxide emissions being produced each year, the equivalent to removing 48 million gallons of gasoline consumption or the powering of over 53,000 homes using clean energy.

“We are thrilled to complete this tax equity financing with Foss & Company,” says Max Whitacre, EVP of project finance for Birch Creek. “Project Beech is the first project we have completed that pairs strategic load with traditional energy consumption. Completing this financing is a milestone for all of us and opens up the door to additional financing opportunities for projects with similar profiles within key markets.”

The post Partners Close Tax Equity Investment for 258 MW Project  appeared first on Solar Industry.

Arch Solar Using Energy Toolbase Platform on Solar Installation

Tue, 03/21/2023 - 10:16

Energy Toolbase (ETB) has deployed its Acumen EMS controls software on an energy storage system installed by Arch Solar, a solar contractor based in Plymouth, Wisconsin. In 2022, Arch Solar installed the BYD Chess unit, equipped with Acumen EMS, for a 40-acre senior community center in Sheboygan. 

This project, supported by the state’s Office of Energy Innovation grant (EIGP), is projected to reduce at least 28% of the current energy mix for the campus, saving more than $27,000 annually. The building was designed for sustainability and includes several notable renewable features, including water backup systems and a 200 kW panel solar energy field.

Sited with a 120 kW BYD Chess unit, the Acumen EMS-operated system will reduce demand costs through peak demand shaving. By utilizing the modeling and deployment functions of Energy Toolbase, Arch Solar and the host customer will also have visibility into the energy storage system’s operation with the ETB Monitor platform; moreover, the platform allows the customer to analyze system performance in real-time and oversee bill savings, customize alerts, override events, schedule dispatch commands, and more.

The project has garnered generous community support, with several community members contributing financially in hopes of using the site as a model for other nonprofits transitioning to solar within the state. In addition to the EIGP grant, Arch Solar was a recipient of a grant from Solar for Good, which contributed $25,000 worth of solar panels to the project.

“Working with ETB for a reliable storage solution in times where half of China is shut down along with all the supply chain issues has been a blessing,” says Mike Cornell, project manager and CIO of Arch Solar. “ETB not only supplied us with the right solution on time, but the all-in-one package made the installation much simpler and more efficient. We will be installing ETB-sourced products again and again.”

The post Arch Solar Using Energy Toolbase Platform on Solar Installation appeared first on Solar Industry.

Holcim US, TotalEnergies Partner on Clean Energy Services at Colorado Cement Plant

Tue, 03/21/2023 - 10:04

Holcim US and TotalEnergies have solidified a partnership to bring large-scale solar power and battery energy storage to Holcim’s Portland cement plant in Florence, Colo. 

In line with Holcim’s pledge to power all of its U.S. operations with 100% renewable energy by 2050, TotalEnergies will install, maintain and operate a 33 MW DC ground-mounted solar array and 38.5 MWh battery energy storage system at the factory.

“As we work to accelerate green growth across the United States, it’s critical that we come to the table with partners who share similar goals around circularity and renewable energy,” says Atl Martinez, vice president of procurement for Holcim North America. “This initiative with TotalEnergies demonstrates an ongoing determination to transform our operations and lower our carbon footprint.”

The project’s solar array will be optimized for maximum energy yield with single-axis solar trackers that follow the sun’s movement through the day and high-performance bifacial solar panels that generate power on both the front and back sides. The energy storage system aims to reduce the factory’s impact on the local utility grid, particularly during on-peak periods when regional demand for electricity is high.

The TotalEnergies solar-plus-storage solution is anticipated to reduce the plant’s CO2 emissions by more than 40,000 tons annually and offset over 40% of its current energy demand. Holcim will receive roughly 71,000 MWh of clean power from the project per year under a power purchase and storage services agreement with a minimum term of 15 years.

Operations of the renewable energy system are expected to begin in 2025.

The post Holcim US, TotalEnergies Partner on Clean Energy Services at Colorado Cement Plant appeared first on Solar Industry.

EnergySage Reports Increased Solar Prices Year over Year

Tue, 03/21/2023 - 09:47

According to EnergySage’s 16th “Solar and Storage Marketplace Report,” equipment supply constraints continued to impact pricing, as the quoted price of solar on EnergySage has increased to $2.85 per watt: a 6.7% increase since the lowest price in early 2021.

The company notes that the installed cost of energy storage is up as well, increasing by $50 per kilowatt-hour stored, or 3.9%, in 2022.

There were also more shifts in market share for the top quoted solar panel brands: In the second half of 2022, Q CELLS overtook REC as the most frequently quoted panel brand on EnergySage, with more than one-quarter of all quotes including Q CELLS panels.

Additionally, as installers looked to secure their supply during shortages in 2022, the share of quotes represented by the top three brands on EnergySage continued to drop – from 66% in 2021 to 58% in 2022. Enphase remained the most quoted inverter and battery storage brand.

Furthermore, in the second half of 2022, 59% of installers offered only a single inverter brand, the highest level of brand loyalty since EnergySage began tracking this information in 2014.

Similarly, over one-third of installers only worked with a single solar panel brand, the highest level since 2015.

More than just installer brand loyalty, these trends provide insight into consumer choice and supply chain availability as well, according to EnergySage.

“While the solar tax credit was extended and expanded under the passing of the Inflation Reduction Act in August, we also saw California pass new rules that negatively affect its net metering program,” says Vikram Aggarwal, EnergySage CEO and founder. “Through these highs and lows, consumers continue to depend on EnergySage for help understanding and navigating the complexities of their electrification journey.”

EnergySage’s semiannual report analyzes millions of transaction-level data points generated by quotes sent to homeowners shopping on for solar panels, inverters, batteries and more from solar companies in 41 states and Washington, D.C.

Download the full report here.

The post EnergySage Reports Increased Solar Prices Year over Year appeared first on Solar Industry.

SEG Solar Acquires Manufacturing Facility, Plans 2 GW of Capacity

Mon, 03/20/2023 - 12:12

SEG Solar says it has closed on the acquisition of a Houston manufacturing facility capable of producing more than 2 GW of photovoltaic modules.

The plant consists of approximately 145,000 square feet of manufacturing and warehouse space and 16,000 square feet of office space. The facility will be equipped with three production lines that will allow SEG to produce both TOPCON and high-efficiency N-type PV modules with 182 mm or 210 mm solar cells. SEG intends to source some components for the modules produced at the factory from local suppliers.

Production at the facility is expected to begin in Q1 2024.

SEG’s aggregate total investment in the facility is expected to reach over $60 million, including equipment and facility improvements. SEG will begin to move its global headquarters and administrative support functions to the facility before the end of 2023. The plant is expected to create as many as 500 new jobs in the Houston area.

“SEG is excited to establish a manufacturing base in Texas and is looking forward to serving the U.S. market with more domestic production,” says Michael Eden, SEG’s vice president and CLO. “This facility will help to sustain low-carbon, ecocentric energy independence in the U.S. for future generations. “

The post SEG Solar Acquires Manufacturing Facility, Plans 2 GW of Capacity appeared first on Solar Industry.

MGE Purchases Power from Koshkonong Solar Energy Center

Mon, 03/20/2023 - 08:33

Madison Gas and Electric (MGE), in partnership with We Energies and Wisconsin Public Service (WPS), subsidiaries of WEC Energy Group, has received approval from the Public Service Commission of Wisconsin to purchase solar energy and battery storage from the Koshkonong Solar Energy Center.

MGE will own 30 MW of solar energy and 16.5 MW of battery storage from the facility, which is located in the towns of Christiana and Deerfield in Dane County.

“The Koshkonong Solar Energy Center continues the progress we’ve already made reducing carbon emissions, increasing cost-effective renewable energy and advancing new technologies to benefit all our customers,” says Jeff Keebler, MGE chairman, president and CEO. “We are working aggressively to reduce our carbon emissions at least 80% from 2005 levels by the end of this decade and achieve net-zero carbon electricity by 2050.”

The project, which is expected to begin serving customers in late 2025, will include a 300 MW solar array and a 165 MW battery storage system. It is expected to generate enough clean energy to power about 90,000 households. MGE’s share of the output will power about 9,000 households.

We Energies and WPS will own the remaining 270 MW of the output and 148.5 MW of battery storage from the project. Invenergy LLC is the project developer.

The Koshkonong Solar Energy Center is one of three announced investments by MGE in large-scale solar energy and battery storage. MGE also will own a 10% share of the Paris Solar-Battery Park and the Darien Solar Energy Center, both of which are under construction.

The post MGE Purchases Power from Koshkonong Solar Energy Center appeared first on Solar Industry.

Entergy Aims to Expand Solar Power in Louisiana    

Mon, 03/20/2023 - 08:20

Entergy Louisiana has filed a request with its regulator, the Louisiana Public Service Commission, for approval to add an additional 3 GW of solar power to its generation portfolio. 

This is on top of the nearly 225 MW of solar power the company requested earlier this month. In that regulatory filing, Entergy Louisiana sought approval for approximately 175 MW from a facility in Iberville Parish and approximately 49 MW from what would become the Sterlington Solar Facility in Ouachita Parish.

Collectively, 3,225 MW of solar power are in the approval queue for potential construction, development and placement on the grid through agreements with Entergy Louisiana.

“Like never before, our state has the opportunity to retain businesses, support expansion projects, and attract new companies on a global scale, but it’s going to take meeting their operational and sustainability needs,” says Phillip May, Entergy Louisiana president and CEO. “Our latest request for up to three gigawatts of renewable power, the largest such expansion request in state history, shows we’re serious about not only protecting the environment by reducing our carbon footprint, but also continuing to be a major driver of economic development.”

The individual resources that make up the 3 GW proposal would be constructed in Louisiana, meaning local communities and economies would benefit from job creation and additional tax revenues generated during construction of the facilities. In addition, further diversifying the company’s generation portfolio will help protect all customers from the volatility of natural gas prices and other factors outside of Entergy’s control.

Currently, Entergy Louisiana has approximately 280 MW of renewable resources, including the Capital Region Solar facility, which began delivering power to the grid in October 2020. Along with nuclear generation, nearly 25% of the company’s portfolio comes from carbon-free resources.

The post Entergy Aims to Expand Solar Power in Louisiana     appeared first on Solar Industry.

Duke Energy to Begin Construction on Florida Floating Solar Pilot 

Fri, 03/17/2023 - 13:41

Duke Energy Florida says its first floating solar array pilot will begin construction later this month in Polk County.

The almost 1 MW floating solar array will feature more than 1,800 floating solar modules and occupy approximately 2 acres of water surface on an existing cooling pond at the Duke Energy Hines Energy Complex in Bartow.

“We’re excited to get hands-on experience with Duke Energy Florida’s first floating solar project at one of our own power plant sites,” says Melissa Seixas, Duke Energy Florida state president. “Unique pilots like floating solar are helping us better understand the capabilities of innovative clean energy technologies that can benefit our Florida customers and communities now and in the future.”

Crews will construct and assemble the module floating system on land in segments before securing it with anchors in the water. The project will take approximately five to six months.

The pilot is part of Duke Energy’s Vision Florida program, which is designed to test innovative projects such as microgrids and battery energy storage, among others, to prepare the power grid for a clean energy future.

Duke Energy Florida, a subsidiary of Duke Energy, owns 10,500 MW of energy capacity, supplying electricity to 1.9 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

The post Duke Energy to Begin Construction on Florida Floating Solar Pilot  appeared first on Solar Industry.

AVANGRID Breaks Ground on New Projects in Texas and Ohio

Thu, 03/16/2023 - 08:50

AVANGRID, a sustainable energy company and part of the Iberdrola Group, has begun construction on two new solar farms in Texas and Ohio. These sites will generate 523.5 MW of power.

“With solar projects like True North and Powell Creek, we are strengthening our mission of helping the U.S. meet its ambitious clean energy goals,” says Pedro Azagra, CEO of AVANGRID. “These solar farms, and many more throughout the U.S., will also boost local economies by creating quality jobs while providing clean, affordable and renewable energy for business and communities.”

True North, under development in Falls County and AVANGRID’s first solar project in Texas, will generate 321 MW of renewable energy once it reaches commercial operations by early 2025. During its construction and operation, True North will create over 200 local jobs, and is expected to pay over $40 million in property taxes over 25 years.

Powell Creek, a 202.5 MW solar farm under construction in Putnam County, Ohio, is expected to generate clean energy to power more than 30,000 homes per year and will create up to 400 jobs during its construction process. Additional local revenue to communities resulting from this project exceeds $38 million over the life of the facility.

With more than 8.6 GW of installed renewable capacity, the company has a pipeline of more than 25 GW under development, encompassing solar, onshore wind, offshore wind and battery energy storage

The post AVANGRID Breaks Ground on New Projects in Texas and Ohio appeared first on Solar Industry.

Solar PV Accounts for Over a Third of Utility-Scale Renewables Projects

Wed, 03/15/2023 - 12:42

Over 30% of utility-scale renewable projects globally between 2013 and 2023 were solar photovoltaic (PV) projects, according to a new report from the Energy Industries Council (EIC), an energy trade association.

The global solar insights report also shows that current global utility-scale PV capacity is around 154 GW. The cost of solar is a key driver of industry investment, with the levelized cost of electricity of newly operational utility-scale solar PV projects declining by 88% between 2010 and 2021 on a global average, says the report. 

Solar PV’s versatility has also contributed to its popularity, as it can be installed on rooftops, floating or ground-mounted. Once intermittency issues are solved through energy storage, solar PV can enhance grid capacity, especially in poorly connected areas, according to the report.

“China is still dominating the global solar PV supply chain, leaving regions like Europe heavily reliant on low-cost Chinese imports,” says Rebecca Groundwater, EIC’s head of external affairs. “But Russia’s war on Ukraine coupled with forced labor concerns and logistics disruptions during COVID-19 highlighted the risks of relying on imports. In the U.S., the Inflation Reduction Act is expected to give domestic manufacturing a boost. As a result, we could see a real opportunity for first movers in the solar supply chain throughout Europe and the Americas.”

While some regions have been slower to adopt solar PV technology, major investments are being funneled into the industry to ensure renewable energy goals can be achieved. According to EICDataStream, North America and Europe have the highest number of projects. The Biden administration aims to reach 40% electricity demand with solar power by 2035, and the Inflation Reduction Act provides tax credits and incentives for renewable energy adoption.

Spain is also a leading market for solar PV globally, contributing to the European Commission’s increased renewable energy target of 45% by 2030, according to the report. The region is responding to the energy crisis as a result of Russia’s ongoing invasion of Ukraine.

The Asia Pacific region is at the forefront in terms of estimated capacity, with India alone having over 120 GW of solar PV capacity planned or in development. India has announced plans for 500 GW of total non-fossil capacity and net-zero emissions by 2070.

Read the report here.

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Leeward Renewable Energy Closes Financing for Horizon Solar Project

Wed, 03/15/2023 - 10:55

Leeward Renewable Energy (LRE) has closed approximately $75 million in construction to term financing from MUFG Bank Ltd. and an approximately $105 million tax equity commitment from Wells Fargo for its Horizon solar facility located in Frio County, Texas.

MUFG served as the green loan structuring agent, coordinating lead arranger and administrative agent for the construction to term financing, arranging financing commitments from eight financial institutions and Export Development Canada. The debt was issued under the green loan principles, which aim to facilitate and support environmentally sustainable economic activity.

The financing for the Horizon solar facility is an extension of LRE’s previously announced financing for its Big Plain and Oak Trail solar projects. This will be LRE’s fifth solar project in the country and the second solar project in Texas, after Barilla Solar in Reeves County.

“We’re pleased to provide tax equity financing for the Horizon Solar facility as Leeward continues to expand its solar portfolio,” says Samantha Buechner, director for Wells Fargo Renewable Energy and Environmental Finance. “Wells Fargo has committed to deploy $500 billion in sustainable financing by 2030 to support the transition to a secure, resilient, and sustainable future, and projects such as Horizon align with those same goals.”

The Horizon solar facility is currently under construction. Once completed, it will generate enough electricity to power over 42,000 U.S. homes annually, providing 200 MW of renewable energy to Verizon Communications under a long-term power purchase agreement. The project is expected to reach commercial operation later this year.

The post Leeward Renewable Energy Closes Financing for Horizon Solar Project appeared first on Solar Industry.

SOLARCYCLE Raises Funds to Advance Recycling in the Industry

Wed, 03/15/2023 - 10:34

SOLARCYCLE, a tech-driven recycling company focused on producing sustainable materials at scale for the solar industry, has raised $30 million in Series A funding, bringing the company’s total funding to $37 million since its inception a year ago.

The funds will be used to scale the company’s growth in solar panel recycling capacity and expand materials remanufacturing capabilities. The round is led by Fifth Wall, an asset manager, and HG Ventures, the corporate venture arm of The Heritage Group.

The round also included participation from Prologis Ventures, as well as existing investors Urban Innovation Fund and Closed Loop Partners. The announcement follows the initial $6.6 million seed round raised in May 2022. The infrastructure financing, led by Fifth Wall Infrastructure and Special Situations Partner Alok Sindher, provides asset-level equity capital for SOLARCYCLE’s Odessa, Texas, factory.

Solar adoption is expected to accelerate over this decade, increasing from 150 GW installed in 2021 to 650 GW installed per year in 2030. SOLARCYCLE has developed proprietary technology that can cost-effectively return more than 95% of all the valuable materials, like aluminum, glass, copper, silver and silicon, back into the solar value chain.

“This Series A funding will allow us to further advance our patented technology, grow partnerships with industry leaders, and rapidly build recycling infrastructure in the United States and beyond to mine old solar panels for making new solar panels,” says Suvi Sharma, CEO and co-founder of SOLARCYCLE. 

The post SOLARCYCLE Raises Funds to Advance Recycling in the Industry appeared first on Solar Industry.

Parks Associates: Only 17 Percent of Households are Very Familiar With Solar

Wed, 03/15/2023 - 10:30

Parks Associates‘ latest report has found consumers are concerned about high energy prices but still have low familiarity overall with solar power.

More than 60% of U.S. internet households report their electricity costs are too high, but only 17% are very familiar with solar, according to the “Solar and Storage: Opportunities in the Smart Home” report.

“Consumers are concerned about energy costs and are also interested in solutions that would make them independent of their local provider, so market conditions could lead to strong growth in solar adoption, provided consumers become more familiar with these solutions,” says Chris White, research director of Parks Associates.

U.S. households still have low familiarity with solar and other home energy management solutions, but adoption has increased slowly the past few years. Parks Associates research shows 7% of U.S. internet households have a solar panel.

Climate awareness, energy uncertainty, economic incentives and technological innovation have contributed to the growth of the solar panel industry. Recent popularity surges in the electric vehicle industry and the rise of connected devices are helping grow familiarity with solar and storage solutions.

Access the report here.

The post Parks Associates: Only 17 Percent of Households are Very Familiar With Solar appeared first on Solar Industry.

Catalyst Power Partners with Gates Historical Society

Wed, 03/15/2023 - 10:23

Catalyst Power Holdings LLC, a provider of energy solutions for the commercial and industrial sectors, has partnered with the Gates Historical Society for a new 1.4 MW community solar farm in Rochester, N.Y.

The farm, to be built on 13 acres of land, will provide affordable clean energy while supporting local jobs and economic development.

“Our partnership with Catalyst Power provides us with increased revenue and allows us to support the local community by hosting clean solar energy,” says Garth Brokaw, president of the Gates Historical Society.

In addition to community solar, Catalyst Power provides its commercial and industrial customers with a suite of cleaner energy solutions, including a connected microgrid network. The company uses a proprietary technology platform that provides perspective on data to identify, underwrite, fund and provide solutions to customers while operating more cost-effective onsite energy projects for retail energy clients.

The post Catalyst Power Partners with Gates Historical Society appeared first on Solar Industry.


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