Sun Still Shining On Solar Investments


IMG 0180 225x300 Sun Still Shining On Solar InvestmentsMercom Capital Group, llc, a clean energy communications and consulting firm, released its report on funding and mergers and acquisitions (M&A) activity for the solar sector during the second quarter of 2013. Solar venture capital : (VC) investments increased to $189 million (M) in 19 deals in Q2 2013 compared to $126M in 26 deals in Q1 2013. Solar downstream : companies received most of the funding with $128M. Total corporate funding in the solar sector including, VC funding :, debt financing and other types of funding raised by public companies through sale of shares totaled $915M.

“With solar technology companies struggling, investments have been going to downstream companies,” commented Raj Prabhu, CEO of Mercom Capital Group. “That said, investments into solar technology companies haven’t completely dried up. Small venture rounds are still going to several niche technology companies instead of the larger deals that were typical for thin film:, CSP: and CPV:companies.” The largest VC deals in Q2 2013 included the ~$69M raised by Chinese developer Hefei Golden Sun Energy Technology. Clean Power Finance raised $42M from Edison International, Kleiner Perkins Caufield & Byers, Google Ventures, Claremont Creek Ventures, Clean Pacific Ventures, Sand Hill Angels, Hennessey Capital, Duke Energy, and others. Solexel raised $14.8M, followed by Tigo Energy which raised $13M from Alon Ventures. Scifiniti raised $10M from Alloy Ventures, Firelake Capital Management, I2BF Global Ventures and Peninsula Ventures.

Solar lease companies raised $1.33 billion (B) in disclosed residential and commercial solar project funds this quarter Solar M&A : activity in Q2 2013 amounted to $1.27B in 18 transactions. Themes emerging out of this quarter’s M&A activity included: consolidation in the inverter market, strategic acquisitions, and acquisitions of distressed assets/companies. The largest disclosed M&A transaction by dollar amount in Q2 2013 was ABB’s acquisition of inverter company, Power-One, for approximately $1B. Announced large-scale project funding in Q2 2013 came in at $2.94B. Solar Star Funding, the wholly owned subsidiary of Warren Buffet’s MidAmerican Energy, completed a $1B bond offering this quarter, the largest solar bond financing deal to date. There were more than 670 MW of disclosed projects that changed hands in Q2 2013. Loans, credit facilities and other types of debt agreements from Chinese banks now stand at about $53B.

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10 2013

Organic Transit Powers West


CL90849 300x200 Organic Transit Powers WestOrganic Transit, manufacturer of the ELFpedal/electric vehicle, is moving to a larger facility in Durham and opening a West Coast manufacturing center in San Jose. Organic Transit has outgrown the old retail furniture store where it began in 2011 in downtown Durham.  The new location, located just a few blocks away near Durham’s Central Park District, is 7,500 square feet, much more appropriate than the present location.   The company will use sustainable design in the building renovation and implement a higher-volume manufacturing process.

The company builds the ELF, a pedal and solar electric powered vehicle.”We love the old building, and it was perfect for getting us into business,” said Rob Cotter, Organic Transit Founder and CEO,  “But like Henry Ford realized 100 years ago, we need more room for a proper assembly line to increase our productivity.” “We will utilize recycled and upcycled materials in our build out.  And the building is being prepared with skylights, LED lighting, edible gardens, green walls and bee hives.”

Organic Transit is also opening a San Jose manufacturing facility in partnership with Good Karma Bikes, a non-profit that trains homeless individuals to become bicycle mechanics. Cotter said the San Jose location will also be a base to make local deliveries of vehicles and act as a regional maintenance facility.

The Next Generation In Solar Cars


EN4A0310 300x213 The Next Generation In Solar Cars

The internationally recognized Sunswift solar car racing program at the University of New South Wales in Sydney, Australia recently debuted their revolutionary new solar racer “eVe”. The eVe not only inspires with its stunning design but also demonstrates long-term ecological sustainability. The students who volunteer their efforts to Sunswift created eVe in the hopes of capturing another team championship at the 2013 World Solar Challenge (WSC) – the pinnacle event for solar racing.

At this year’s WSC taking place in October  teams from top universities and private institutions around the world will compete in a 3,000 km race across Australia’s Outback from Darwin to Adelaide relying solely on the sun’s energy to power their cars. This year, eVe races in the ‘cruiser’ class, a class that rewards entrants for incorporating practical motoring features into their advanced solar technology vehicles.

Sunswift has teamed with ToyLabs to impart these invaluable science lessons to school kids. The Sunswift team uses the Volta Racer to share their passion and to inspire future generations of scientists and engineers through a series of hands-on workshops located at the University of New South Wales Engineering School and at various location en-route to WSC. During the workshops kids get to build the Volta Racer and learn about Sunswift’s innovative work on eVe. UNSW engineering student and Sunswift Project Director ‘Alex To’ went so far as to liken the Volta Racer to a “miniature version of the car we build. Both vehicles, in fact, use the same direct solar to power conversion methods to provide electricity to their motors. The Volta Racers allow these kids to have a practical hands-on experience building their very own electric car while learning about basic mechanical engineering, electronics and using solar as a sustainable energy application.”ToyLabs founder ‘Tim Curley’ is honored to lend his support to Sunswift’s efforts. “ToyLabs wants to help inspire kids to become the world’s next generation of scientists and engineers – just like the extremely bright students at UNSW working on eVe.

Solarthon Brings Solar Power to the People


Solar champs header.2a531c2da6c2c53e01d2f251e101aaf07781 Solarthon Brings Solar Power to the People

MCE (Marin Clean Energy), a program offering cleaner energy choices for electric customers in Marin County and the City of Richmond,  sponsored  GRID Alternatives’ largest installation event earlier this  of the year at the May 8th annual Bay Area Solarthon.On September 7, 2013 solar panels were installed on the roofs of more than 8 low income homes in Richmond’s Iron Triangle.  The Solarthon community installation event is, a fundraiser and solar block party that brings together hundreds of people including individual fundraisers, corporate sponsors, job trainees, community leaders and the homeowners themselves to install multiple solar systems in one neighborhood in a single day.

The funds raised at the Solarthon event are used to further support GRID Alternatives’ work to bring clean, affordable energy and hands-on solar installation experience to families and workers that need it most. Participants get hands-on experience installing solar with and for local families.

MCE offers its customers 50 percent renewable energy, more than twice that offered by PG&E, at affordable rates and also has one of the best Net Energy Metering programs in California. “The Solarthon event aligns with our mission and goals to provide local clean energy alternatives and demonstrates our commitment to environmental and community sustainability,” said Dawn Weisz, Executive Officer of the Marin Energy Authority, which administers MCE. “We’re pleased to support this event and GRID Alternatives as another way to foster community control, workforce development and renewable energy in Richmond.”

20

09 2013

SunPower Lights Up Desert


SunPower and Mid Atlantic Solar join forces to begin construction of the largest solar energy system in the world.

07

05 2013

Top Ten Eco Cities


With Earth Day just around the corner, Redfin, a technology-powered real estate broker, today announced a ranking of the country’s top 10 cities with the greenest homes. The Redfin analysis looked at each city’s overall carbon dioxide emissions, as well as the number of homes currently for sale that have “green” features or eco-friendly ratings. Examples include solar panels, low-flow faucets, dual pane windows, ENERGY STAR® appliances, LEED certified homes, and new construction by green builders. LEED stands for Leadership in Energy and Environmental Design, and is the most widely used green building program worldwide.

  1. San Francisco, CA – In addition to having the lowest carbon dioxide emission rate per capita, San Francisco has a large number of homes for sale with eco-friendly features. One incentive for locals to go green may be Pacific Gas & Electric’s rebates, which offer up to $4,000 for home energy upgrades including insulation and air duct sealing.
  2. Washington D.C. – According to the U.S. Green Building Council, Washington D.C. has the most (LEED)-certified space, which likely contributes to the city’s low carbon dioxide emission rates. In addition, the district offers a number of rebates and tax credits for residential energy efficiency, which may help explain the high number of homes for sale with eco-friendly features.
  3. Sacramento, CA – Sacramento has the second-lowest carbon dioxide emissions in the country, and new developments have focused on energy-efficient homes, such as the Northwest Land Park, which will build 800 new homes that use net-zero electricity.
  4. Boston, MA Boston Mayor Thomas Menino launched an initiative to be “Green by 2015,” which includes powering homes using a combination of waste products and solar panels. The city also supports the Energy Positive “E+” Green Building Demonstration Program, which aims to bring green homes to Boston’s neighborhoods.
  5. Portland, OR – Portland General Electric offers residents the choice to pay a little more for renewable energy options, including wind-sourced power. In addition, Portland residents who want to make their home more green can attend Fix-It Fairs, which offer resources and information to help attendees reduce water and energy usage, among other green initiatives.
  6. Philadelphia, PA – Even though Philadelphia’s carbon dioxide emissions were higher than other cities, it ranked second for homes with eco-friendly features. In 2009 the city passed two laws that advance green building practices. The first requires that new city government buildings meet LEED Silver Certification, and the second requires all new construction to have “cool roofs” that meet or exceed Energy Star standards.
  7. Phoenix, AZ – As part of the “Green Phoenix” initiative, Phoenix offers a one-time grant to homeowners for making improvements that reduce energy consumption. The city has also received funding to retrofit low-income residential homes with cost effective energy saving measures. 
  8. Los Angeles, CA – Homeowners looking to reduce costs associated with air conditioning in L.A.’s warm climate can take advantage of the L.A. County’s Energy Loans Program, which offers loans of up to $50,000 dollars with financing as low as 4.99% when homeowners undertake home energy improvements. In addition, Energy Upgrade California offers rebates of up to $4,000 to homeowners who make their home more energy efficient. To see some stylish green homes on the market in L.A., check out this Redfin Collection.
  9. Seattle, WA – Seattle residents are known for being eco-conscious, as evidenced by the recent ban on plastic bags, so it’s not surprising they’d want their homes to be green too. Although the city is known for its rain, Seattle receives more sunlight than Germany, the world’s leading solar market, and Washington State offers financial incentives for those who generate their own electricity using solar electric systems.
  10. Austin, TX – Austin Energy is the nation’s top seller of renewable energy, and the company offers homeowners low-interest loans of up to $20,000 dollars for energy efficient upgrades. In addition, the company offers rebates for numerous upgrades, including extra attic insulation, high-efficiency clothes washers, rainwater collection barrels, and low-flow toilets.

“The residents of these cities are reducing their environmental footprint and saving money at the same time,” said Julie Jacobson , a LEED Green Associate certified Redfin Agent. “By making your home green, you can reduce monthly utility bills, make your home’s indoor air quality healthier, reduce your environmental footprint and even help increase the value of your home without any sacrifice in design or comfort. It is truly a win-win.”

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04 2013

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