Solar - Renewable Energy Becoming Increasingly Sustainable Led by Consumer Demand and Rising Economic Opportunities
PALM BEACH, Florida, March 13, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Regardless of policy ambiguity, the U.S. remains the second-largest growth market for renewable, including Solar and Wind energies. The primary drivers remain strong for new onshore wind and solar capacities, such as multi-year federal tax incentives combined with renewable portfolio standards as well as state-level policies for distributed solar PV. Rooftop solar in the U.S. and globally is on the climb. Although extensive adoption of feed-in tariffs in the early 2000's fueled early uptake of solar technology by reducing the financial burden to investors, developments in photovoltaics (PV) are increasingly producing efficient solar cells at ever lower costs. The rate of solar uptake is escalating faster than for any other energy source. Solar PV is entering a new time. For the next few years, solar PV represents the largest annual capacity additions for renewables, well above wind and hydro. This marks a turning point and underpins a more optimistic solar PV forecast. The simple fact is the world needs energy, and renewable energy, or "green energy", is essential to meeting global demands. But as green energy becomes more competitive with traditional fossil fuels, its potential grows even more. Active Renewable Energy companies in the news today include: Solar Integrated Roofing Corporation (OTC: SIRC), First Solar, Inc. (NASDAQ: FSLR), SunPower Corporation (NASDAQ: SPWR), FuelCell Energy, Inc. (NASDAQ: FCEL), Vivint Solar (NYSE: VSLR).
Solar Integrated Roofing Corporation (OTC: SIRC) BREAKING NEWS: Solar Integrated Roofing President David Savarese appeared on MoneyTV with Donald Baillargeon and discussed their progress with Lowe's Companies, Inc.'s (NYSE: LOW), a deal with Angie's List and reflected on the recent end to their fiscal year.
"We've recently completed our first eight installations for Lowe's", said Savarese. "We are their exclusive roofing installation contractor in the Greater San Diego area and we're very pleased with how things are going so far."
Savarese also provided details of recent deals entered into with both Angie's List and Home Advisor. "When people search for roofing in San Diego, Angie's List and Home Advisor recommends them to us", he added. "Our reputation for customer service was instrumental in making this happen." Read this and more news for Solar Integrated Roofing Corporation at http://www.marketnewsupdates.com/news/sirc.html
"We're also extremely pleased with the manner in which we finished out our fiscal fourth quarter. December, January and February were all record months for the company. We've brought on some new people and the team has really come together."
Additional industry related developments from around the markets:
First Solar, Inc. (NASDAQ: FSLR) recently announced it is set to proceed with development and construction of a 200-megawatt (MW)ac photovoltaic (PV) solar power plant in Twiggs County, Ga. First Solar was awarded the installation as part of a 525MWac Request for Proposals for Georgia Power's Renewable Energy Development Initiative (REDI). "This is a tremendously exciting opportunity for First Solar to demonstrate our capability to develop solar assets in the Southeast and help Georgia Power meet the renewable energy needs of its customers," said Kathryn Arbeit, Vice President of Project Development - Americas for First Solar. "Georgia Power's significant commitment to renewable energy, paired with Twiggs County's strong leadership and supportive business environment, combine to serve as a great example of how solar can be seamlessly included in the region's energy mix."
SunPower Corporation (NASDAQ: SPWR), OGE Energy Corp. (OGE) electric utility subsidiary and Oklahoma Gas & Electric (OG&E) recently announced completion of a 10-megawatt (AC) solar photovoltaic power plant in Covington, Okla. Approximately 85 jobs were created during peak construction of the facility. "With Covington online, we now have 12.5-megawatts of solar generation in our portfolio, all of which has been presold to customers who want the benefits of solar power," said OG&E Chief Operating Officer Keith Mitchell. "Along with our solar facility in Mustang, Oklahoma, Covington helps us continue to learn how solar can complement our other generation sources to provide reliable and low-cost power to our customers." A SunPower® Oasis® Power Plant system was installed at the 80-acre site by Moss Solar, a division of the construction firm Moss. The Oasis system is a complete power plant solution that installs quickly to maximize value for customers.
FuelCell Energy, Inc. (NASDAQ: FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, recently announced the execution of a 20-year power purchase agreement with a subsidiary of existing customer Campbell Soup Company, to install two SureSource 3000™ fuel cells that will generate 5MW of power at its Bakersfield, California manufacturing site, home of Bolthouse Farms brand beverages, carrots and dressings. FuelCell Energy will provide a comprehensive turn-key project solution that includes engineering, procurement, construction, and maintenance services under a 20-year power purchase agreement. The combined heat and power (CHP) fuel cell system will provide reliable and low carbon electricity and steam that will lead to a reduction in energy costs while enhancing power reliability from on-site power generation. Generating both power and thermal energy from the same unit of natural gas fuel reduces heating costs and the associated pollutants and carbon emissions from more traditional combustion-based boiler systems.
Vivint Solar (NYSE: VSLR), last week announced financial results for the fourth quarter and full year ended December 31, 2017. As of December 31, 2017, the company had $240 million in undrawn capacity in the aggregation facility and approximately 17 MWs of available installation capacity remaining in its tax equity funds. Subsequent to quarter end, the company closed a new tax equity partnership with a $75 million commitment that will fund the installation of approximately 52 MWs. In addition, the company received $401 million of non-binding tax equity term sheets for five tax equity partnerships. The company estimates that these tax equity partnerships will enable the company to install approximately 265 MWs of residential solar energy systems. These tax equity partnerships are subject to customary conditions and the execution of definitive documents. Read the full report at: https://finance.yahoo.com/news/vivint-solar-reports-fourth-quarter-210100025.html
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