SolarCity Raises $81 Million In Growth Capital

Posted on February 29, 2012 by quest

SolarCity today announced that it has raised $81 million in equity financing. SolarCity allows homeowners, businesses and non-profit organizations to buy renewable energy for less than they currently pay for electricity from utilities. The company has more than 30,000 clean energy projects completed or underway. The round was co-led by Silver Lake Kraftwerk and Valor Equity Partners, and included investments from Nicholas J. Pritzker, partner at Tao Ventures and senior development advisor for Hyatt Hotels Corp., and Shea Ventures, an affiliate of SolarCity partner Shea Homes. SolarCity Chairman Elon Musk and existing SolarCity investor DBL Investors also participated. The new financing will fund SolarCity’s expansion of sales, marketing and operations, technology development and potential acquisitions.

“Individuals and organizations of all shapes and sizes are fed up with the growing cost and consequences of traditional energy,” said Lyndon Rive, SolarCity’s CEO. “This investment provides SolarCity the resources to explore new products and services and identify new geographies and potential acquisitions as we seek to deliver better energy choices to more customers.”Silver Lake Kraftwerk (SLK) is an investment strategy of Silver Lake, the global leader in private investments in technology and technology-enabled industries. SLK was created to provide growth capital to innovators in the energy and resource sectors.

“SolarCity is the leader in its space,” said Raj Atluru, co-founder of Silver Lake Kraftwerk. “The company’s unique, vertically-integrated model, paired with incentives and falling technology costs, allows it to provide solar electricity to customers at lower rates than they pay for utility power. We’ve thoroughly analyzed SolarCity’s full-service approach to solar and energy efficiency and we believe it has the ability to deliver superior customer experience and service across multiple sectors.”Valor Equity Partners pursues investments in leaders in their respective markets. Valor is also an investor in Tesla Motors.

Monsanto asks scientists about global warming

Yingli Solar and Grid Alternatives Powering People

Posted on February 28, 2012 by quest

Yingli Solar a sponsor of the 2014 FIFA World Cup Brazil today announced it has renewed its strategic partnership throughout 2012 with the Oakland-based nonprofit solar installer, GRID Alternatives. Yingli Americas’ 2012 agreement with GRID Alternatives builds on a 1MW partnership launched in 2011 that brought clean power to over 400 low-income homeowners across California, saving them an estimated US$11 million over the systems’ lifetimes, while giving hands-on solar installation experience to thousands of workers. GRID Alternatives’ mission is to empower communities in need by providing renewable energy and energy efficiency services, equipment and training. It has provided no or low-cost solar electric systems for more than 1700 families since 2004 while serving as a “classroom in the field” for solar job trainees.

“Yingli’s continued support for GRID Alternatives’ mission means millions more in long-term savings for low-income families that need them most, thousands more learning opportunities for green job seekers and a win for the environment,” said Erica Mackie, Executive Director and Co-Founder of GRID Alternatives. “We’re thrilled that they decided to renew their commitment, especially as we begin replicating our model beyond California.”

“Supporting our local communities through corporate social responsibility initiatives is something we care deeply about, and we are very proud to be official partners with GRID Alternatives,” said Robert Petrina, Managing Director of Yingli Americas. “Our combined teams were a great fit from the start given our common goals for protecting the environment and helping those in need.”Helena Kimball, Head of Marketing, Yingli Americas said, “Listening to the stories of these families and job seekers that we’ve helped and participated alongside has been remarkable, and we are excited to be expanding the program even further this year. Renewable energy is inherently about helping people who need energy most, and with more than 800 financially challenged families powered by the end of this year, we’ve gone beyond what we imagined possible at the onset of this program.”

Right To Know Genetically Modified Organisms

Los Angeles Growing Green & Cleantech Businesses

Posted on February 22, 2012 by quest

Not only is LA becoming a hub for electric vehicle companies, in October 2011 Los Angeles launched its new cleantech business incubator (LACI) to accelerate development of cleantech start-ups by offering flexible office space, CEO coaching and mentoring, and access to a growing network of experts and capital. LACI is the business equivalent of baseball’s farm system: it identifies local talent, nurtures it, and helps it get to market, resulting in more jobs and a bigger green economy in Los Angeles.The Los Angeles Cleantech Incubator (LACI) announced the acceptance of California Lithium Battery (CALiB) into its Portfolio Company Program making it the sixth start-up in LACI’s portfolio. CALiB has licensed new technology from the Argonne National Labs that improves the performance of lithium batteries by 3X. CALiB’s goal is to be the leading United States-based developer and manufacturer of high performance Very Large Format lithium batteries for utility energy storage, EVs and specialized industrial applications.

Fred Walti, Executive Director of LACI said,“Developing game changing technology in energy storage is a key requirement for wider adoption of sustainable energy. We’re impressed with California Lithium’s technology, which has been developed and validated by the Argonne National Labs, and its business strategy to enter the utility scale energy storage market. While it’s too early to declare victory, CALiB’s batteries could effectively lower the Li-ion battery cost by 70%,”

“LA is emerging as the new global test center for advanced energy technologies and we thank Mayor Villaraigosa and the LADWP for their stewardship of the LACI” said Phil Roberts, CEO of CalBattery. He continued, “as a great example of public private partnership that is helping small businesses do big things for their community. The help and connections of the LACI it will enable CalBattery to create good manufacturing jobs stemming from our new energy storage and EV lithium silicon-graphene battery made in LA for export to the entire global community.” It was just this past October Mayor Villaraigosa welcomed solar and electric vehicle maker, BYD to its North American headquarters in downtown Los Angeles, and In November 2011 Electric maker Coda also set LA as its global headquarters.

Apple Using Solar Power To Power Itself

Posted on February 21, 2012 by quest

Apple isn’t the first, Google is already there and it’s a pretty safe bet other big, medium and smaller companies will follow and go solar. The Solar Foundation an industry trade organization has reported that there are now over 100,000 people employed in the U. S . solar industry, and that figure is expected to rise dramatically. To meet its energy needs the company, Apple has announced new energy efficiency initiatives at its North Carolina Maiden data facility and have embarked on an industry-leading renewable energy program.

Apple is building the nation’s largest end user–owned, onsite solar array on the land surrounding the data center. When completed, this 100-acre, 20-megawatt facility will supply 42 million kWh of clean, renewable energy annually. In addition the computer maker is is building a fuel cell installation that will be the largest non-utility fuel cell installation operating anywhere in the country. The 5-megawatt facility, located directly adjacent to the data center, will be powered by 100 percent biogas, and provide more than 40 million kWh of 24×7 baseload renewable energy annually.

With these developments one has to wonder what impact Apple might have on the solar industry if it began manufacturing solar panels. Apple says it’s “committed to pursuing energy-efficient growth by increasing our renewable energy participation to match the growing needs of our data center—through our own projects as well as partnerships with utilities and renewable energy providers.”

Warren Buffet A Major Solar Energy Investor

Intersolar Europe Brings More Solar Power Than Ever

Posted on February 15, 2012 by quest

2011 was a record year both for Intersolar Europe and the international solar industry, with the expansion of newly-installed photovoltaic capacity reaching a new high. With 18 billion kilowatt hours (kWh) of solar power generated during the year, 2011 saw photovoltaics conquer a larger share of the German energy production market than hydropower for the first time. The increasing market share occupied by solar power highlights the opportunities that could be enjoyed by the technology in future energy supply. In order to exploit these opportunities effectively, the solar industry is working at full steam to create new solutions, such as grid integration and energy storage systems. The PV Energy World Special Exhibit at Intersolar Europe 2012 presents the latest developments in technology and reveals both the measures and the political conditions that are necessary to achieve the highest possible quotas of solar power generation.

In 2011, solar plants with a total capacity of at least 26.5 gigawatts (GW) were installed across the globe. In Germany alone, around 7.5 GW of new photovoltaic capacity was added, exceeding even the previous record year of 2010. According to estimates from BSW-Solar (German Solar Industry Association) in Berlin, solar power production will see a further 70% rise in the next four years alone. In order to take full advantage of this capacity in future, the industry needs to address grid stability, intelligent solutions for on-site consumption and efficient, economical storage as a matter of priority.

Intersolar Europe 2012 will take place from June 13–15 at the New Munich Trade Fair Centre.With over 3,500 exhibitors and 120,000+ visitors spanning three continents, Intersolar is the world’s leading exhibition series for the solar industry. Intersolar Europe takes place annually at the New Munich Trade Fair Centre. Today, it is the world’s largest exhibition for the solar industry, and looks back on a history spanning twenty years.

Massachusetts Man Uses Funds to Rebuild and Go Solar

Solar Goals Shinning Thru For PG & E

Posted on February 10, 2012 by quest

Pacific Gas and Electric Company (PG&E) announced today that its 2011 solicitation for new supplies of renewable energy brought in more than 300 offers, a new record for the utility. PG&E’s energy procurement staff are reviewing them closely to determine the most viable and cost-effective projects to meet customers’ long-term clean-energy needs.”The highly competitive proposals we received offer affordable power to help us achieve the state’s renewable energy targets,” said Fong Wan, Senior Vice President for Energy Procurement at PG&E. “The tremendous response to our request reflects the robust supplies being offered by the renewable energy industry, which California has fostered through its aggressive state mandates.”

Since 2002, PG&E has signed more than 110 contracts for about 10,000 megawatts of renewable power. PG&E now expects to be able to meet California’s Renewables Portfolio Standard, which requires all retail sellers of electricity to deliver 33 percent of their electricity by 2020 from eligible renewable resources like wind, solar, geothermal, biomass, and small hydroelectric. The utility is on track to reach 20 percent this year. Along with large hydro and nuclear power, PG&E now typically gets more than half of its electricity from sources that are essentially carbon-free, making it one of the cleanest utilities in the nation.

Once PG&E determines which of the new offers best suit its customers’ needs for clean energy, it will engage selected developers in negotiations, with the goal of submitting executed contracts to the California Public Utilities Commission by mid-year for review. Based in San Francisco, with 20,000 employees, the company delivers some of the nation’s cleanest energy to 15 million people in Northern and Central California.