Renewables find success in ‘black start’ experiment

June 14, 2022 | 282 views

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Have you ever thought about what would happen if a power station failed? Without electricity to bring itself back online, it would be near impossible for a station to begin operating again, like trying to set fire to paper without a flame.

This scenario would quickly lead to widespread chaos, with hospitals and schools plunged into darkness, refrigeration, and sanitation seriously hampered and transport systems brought to a standstill.

For these reasons (and many, many more), governments and electricity networks often have complex and rigorous plans in place to bring dead power stations back online at the earliest.

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Take advantage of Arizona's most abundant natural resource—more than 320 days of sunshine per year—and enjoy savings on your electric bill for decades to come. Since 2006, Sun Valley Solar Solutions has been helping Arizona homeowners and businesses turn the state's most abundant natural resource into immediate savings for a cleaner tomorrow.

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Slashing Greenhouse Gas Emissions: A Business Perspective!

Article | April 16, 2021

“With Great Power Comes Great Responsibility” – Voltaire (François-Marie Arouet) We, humans, had completely buried this quote until it was brought back to life recently. Business leaders should remember this quote as it perfectly fits into the environmental-business perspective that we are presently facing. If the world has to tackle the problem of climate change or come even close to achieving that goal, businesses and industries will have to play a key role. Almost a quarter, or 23% to be precise, of greenhouse gas emissions in the United States, come directly from industries. This number rises to 29.6% if we combine indirect emissions too. When looking for causes of climate change, the private sector is often linked to. Minimizing your carbon footprint appears to be the year's buzzword, but where can businesses begin with such an ambiguous task? How do we assess progress? Peter Drucker wrote the premise of an answer back in 1954: "What gets measured, gets managed." If a business really wants to become more sustainable, the first step should be to try to understand its current situation and begin tracking its carbon emissions. Measuring carbon emissions is a difficult problem. Major businesses that do not have carbon monitoring and reduction programs have become the exception. Recognizing and measuring CO2 emissions aids in the identification of excessive energy consumption and other inefficiencies. Most of the time, lowering greenhouse gas emissions goes hand in hand with making a business's processes more efficient and cost-effective. Reducing Greenhouse Gas Emissions: What Do Businesses Gain? In addition to the long-term environmental benefits that will help us in saving our planet, organizations can also benefit from the positive impacts of greenhouse gas emission reduction. Some of the top benefits of effective emission management are as follows. Cost Saving When it comes to cost reductions, simply minimizing your energy consumption reduces both your organization's carbon footprint and its operating expenses. According to a 2016 Energy Star report, the owner of Kimberly-Clark Berkley Mill invested $350,000, which generated yearly savings of $160,000 and a rapid return on investment (ROI) of just over one and a half years when LED lighting was installed to replace the fluorescent and HID lighting that was traditionally used. Regulatory Compliance With a 20-fold rise in global climate change regulations since 1997, securing proactive regulatory compliance is much more important than ever in the minds of corporate leadership, public spheres, and stakeholders – and it's only becoming more important. Adopting an effective greenhouse gas emission reduction program, as well as tracking and reporting on progress, is essential for businesses to adopt in order to maintain operations and avoid penalties. Improved External Relations Consumer spending power has an enormous impact on the process of shaping organizational action. In the eyes of the public, the process of committing to responsibility in the domains of broader sustainability and greenhouse gas emissions reduction is a significant credibility boost. When your company takes proactive steps to reduce carbon dioxide and greenhouse gas emissions, the resulting increase in the quality and depth of relationships with potential partners and external business connections is priceless. Enhanced Stakeholder Relationships Along with a stronger relationship with the audience, the influence of transparent sustainability indicators and performance has the potential to strengthen crucial relationships with stakeholders. More investors than ever are shifting capital away from carbon-heavy, secretive businesses and toward companies that have decided to be open, proactive, and honest regarding their greenhouse gas emissions management within the sustainability world and beyond. Emission Sources Defined in Business Operations Within a business's operation chain, emission sources are classified into three categories. These scopes are established so that businesses can trace the source of their greenhouse gas emissions and modify their operations to minimize their carbon footprint. Emission scope is defined as follows: Scope 1 Emission Scope 1 emissions are directly caused by business operations. Organizations with fossil fuel-burning vehicle fleets, for example, are directly liable for carbon emissions by burning those fossil fuels. Scope 2 Emission Scope 2 emissions are caused by an organization purchasing energy (e.g., electricity, heat, or air conditioning) produced by a process that emits greenhouse gases. A scope 2 emission is, for example, electricity generated by burning coal that a business later purchases. Because the company consumes this energy, they must record the emissions generated when it was generated. Scope 3 Emissions Scope 3 emissions are not caused by a company's direct activities. Other entities in a company's value chain are responsible for these emissions. Scope 3 emissions for one organization could be scope 1 and 2 emissions for another. A company that manufactures products, for example, would have scope 3 emissions from a company that eventually disposes of those items. Scope 3 is responsible for most of a company's emissions, accounting for 65% to 95% of a company's carbon footprint. Currently, reporting scope 3 emissions is optional for businesses. Organizations must, however, start tracking their scope 3 emissions since this is where tremendous reductions in carbon emissions can occur. How Are Large Enterprises Measuring and Reducing Their Carbon Footprints? Larger enterprises, like Apple and ExxonMobil, have begun to provide scope 3 emissions data. Other companies are collaborating with their supply chain to build collaborative initiatives among companies to report these emissions. Businesses have begun to cooperate even outside of supply chains. Competitors in the same industry have started to form partnerships to solve the issue of measuring their carbon footprints. Because these organizations often share manufacturers and suppliers, they have decided to deal with the issue together. Other businesses manage environmental sustainability in a different manner.Enterprises in the agriculture industry have pledged to reduce greenhouse gas emissions, recycle, and provide resources and information to smaller agricultural organizations wanting to go green.Many of the world’s leading auto manufacturers help by producing vehicles that are more environmentally friendly and have the better fuel economy. Others are creating alternative-fuel cars or investing in sustainable energy projects. The major retailers, manufacturers, and software companies have all made efforts to reduce their carbon footprint in different ways. Many multinational enterprises are adopting more sustainable business practices, such as using renewable energy and recycled materials in product manufacturing. How Can Small Businesses Seek Help Measuring Their Carbon Footprints? For the time being, many small businesses are finding it difficult to gather data on all these emissions that are beyond their control. According to the BBC, only 10% of more than 1,000 organizations surveyed in the United Kingdom keep track of their carbon footprint. Moreover, one in every five companies does not understand what the term "net-zero" means and a third really hasn't sought any help to make their company more sustainable. Exploring available information on measuring emissions data is the best approach for small businesses to understand more about the ways they can reduce their carbon footprint. The EPA Center for Corporate Climate Leadership includes a wealth of resources to assist small business owners in measuring and reporting their emissions. Business owners can learn how to establish a greenhouse gas inventory, measure their emissions, collaborate with sustainable suppliers, and gather data to develop sustainable solutions. Small businesses can also utilize a carbon footprint calculator to determine the quantity of emissions generated by their activities. Once company owners realize how much carbon they are emitting, they can start to tackle where it is coming from and make the necessary modifications. The most important thing that business owners can do is to always look for ways to improve their business's sustainability. Additional information will be made available to help company owners as they seek guidance on how to minimize their carbon footprint. Best Practices for Companies to Achieve Net Zero and Stay Profitable Transitioning to net zero is such a demanding task that many businesses believe it is impossible to do while retaining profit margins. As a result, many businesses concentrate on low-hanging fruit and short-term alternatives, like offloading emissions onto others by divesting from high-carbon-emitting companies. Businesses, on the other hand, can start by creating a greenhouse gas inventory to monitor their carbon emissions. Here are just a few of the many ways we found that could help your business. Cut Emissions Across the Whole Value Chain For most businesses, the majority of emissions and the possibilities for climate action lie in "scope 3 assets". These aren't owned or managed by the reporting company, but they add to the business's value chain indirectly. Businesses must take action on scope 3 emissions in order to successfully cut emissions. Use Sustainable Web Hosting Services Hosting services are the silent consumers of fossil fuels. Until you host it yourself, your website is most certainly hosted on a data server in a warehouse that runs on fossil fuels. Data servers use a lot of energy since they have to be turned on and kept cool all the time. Renewable Energy Certificates are acquired by sustainable hosting providers in order to claim their renewable energy utilization. Tackle the Root Causes The areas of major emissions are often not the most effective sites for action. It is found that businesses are measuring emissions in order to determine underlying causes, either inside their own processes or anywhere in the value chain. Big tech businesses evaluate power efficiency down to the code level in their AI and cloud implementations and collaborate with chip manufacturers to reduce energy usage in the use of their products. Don’t Automatically Defund High-Carbon Business Investors are often enticed to enhance their portfolio of low-carbon activities merely by rearranging their capital allocation. However, when it comes to really incentivize reduction, a more effective technique is to engage in activities that presently generate high carbon emissions while giving out a clear and urgent roadmap to change. Some activists have realized this idea and are shifting their demands from divestment to a managed shift of high-carbon businesses. Purchase Carbon Offsets Carbon offsets are a type of trade. When you buy an offset, you are contributing to projects that decrease greenhouse gas emissions. A carbon calculator can help you calculate your travel carbon footprint and the monetary cost of those emissions. Remember that carbon offsets do not decrease the quantity of carbon in the atmosphere; rather, they serve as a balancing agent to neutralize the carbon emitted. Carbon offsets could be tax-deductible based on the company from whom you purchase them. Closing Lines Many prominent brands, from Amazon to L'Oréal, have started to make significant investments in renewable energy and commitments to reduce emissions in their freight and logistics operations. Being mindful of how your activities contribute to greenhouse gas emissions can assist you in minimizing your carbon footprint. With the above-mentioned methods under your belt, you will be able to support the environment that we live in a while simultaneously pushing your organization to the next level of success. Don't miss the opportunity to get involved in energy-efficiency and sustainability initiatives for your company because the newest generation of consumers, millennials, have $2.45 trillion in spending power and are eager to spend more on brands that share their values of going green. Frequently Asked Questions What are scope 3 emissions? The Greenhouse Gas Protocol Corporate Standard divides a company's greenhouse gas emissions into three "scopes." Scope 1 emissions are those emitted directly from owned or controlled sources. Scope 2 emissions are those caused by the production of bought energy. Scope 3 emissions encompass all indirect emissions (not included in scope 2) that happen in the reporting company's value chain, both in upstream and downstream emissions. What are product life cycle emissions? All emissions related to the production and utilize a single product, from the cradle to the grave, are referred to as the product life cycle emissions and include emissions from raw materials, manufacturing, transportation, storage, sale, usage, and disposal. How can industries reduce global warming? By implementing passive or sustainable energy-based heating and cooling systems, increasing energy efficiency, and solving other important concerns such as methane leaks, the industry can cut its emissions by 7.3 Gt per year. New food production technologies have the capability to cut emissions by 6.7 Gt per year

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A vision for renewable energy

Article | December 23, 2021

Right now, renewable energy makes up a very small part of the entire energy sector of Bangladesh. But as we move into the future, and concerns about the environment become too great to ignore, exploring cleaner and greener sources of energy becomes the need of the hour. Our economy is booming, and our population is growing, so it goes without saying that our energy requirements are immense. There is plenty of scientific evidence that burning fossil fuels indiscriminately is not sustainable in the long term, so we do need to up our game in looking at alternatives.

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SOLAR+STORAGE

2020: The Year of Convergence in Corporate Renewables

Article | May 27, 2021

The rapid growth of corporate renewable procurement has been nothing short of a buyer-driven revolution in the United States’ electric sector. Almost 20 gigawatts (GWs) of corporate power purchasing agreements (PPAs) were completed in 2019 across the globe, up from 13 GWs of corporate PPAs in 2018 and triple the numbers from 2017.1,2 And the majority of this growth has come from the United States. Fortunately for those of us committed to renewable energy, we expect this trend to continue. But as should be expected in such a dynamic, buyer-driven sector, we are starting to see some noticeable shifts in the marketplace as it evolves and grows. I wanted to highlight some of the trends Constellation is watching for this year.

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2020 Trends That Will Make Waves In The Energy Industry

Article | February 10, 2020

In the renewable world, energy is generated by weather and the amount of energy that can be produced depends on the current conditions. Energy storage can ensure a power supply is maintained when weather conditions are not optimal for generating energy. While energy storage products have already been introduced to all levels of the market there are several technology hurdles to overcome before energy storage will reach maximum potential. We believe there will be great advancements in 2020 on:

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Sun Valley Solar Solutions

Take advantage of Arizona's most abundant natural resource—more than 320 days of sunshine per year—and enjoy savings on your electric bill for decades to come. Since 2006, Sun Valley Solar Solutions has been helping Arizona homeowners and businesses turn the state's most abundant natural resource into immediate savings for a cleaner tomorrow.

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SAJ Inks Agreement with Leading European Solar Distributor Solarclarity, Strengthening its Presence in Europe

SAJ | December 05, 2022

Solar inverters and storage solutions provider SAJ (or "the Company") announced that the company has reached a long-term cooperation agreement with Solarclarity, a leading distributor of sustainable energy systems in the Netherlands, at the Solar Solutions Düsseldorf 2022, the first satellite event of Solar Solutions International that gathers global solar professionals to showcase their latest innovations in solar energy. The agreement will first see one of SAJ's key products, the HS2 All-In-One Residential Storage Solution be available at Solarclarity from January 2023. "The business alliance with Solarclarity strengthens our reputation as a trusted and capable solar energy expert and innovator whose mission is to create a green, smart and efficient energy-use environment, pursuing a healthy and happy life. We will benefit from Solarclarity's expertise in accelerating our market penetration in Europe, bolstering our foothold in the region by bringing SAJ's residential digital energy solutions to more European households. Samil Ouyang, CEO of SAJ. SAJ's residential digital energy solutions are tailor-made for local users and are built from the ground up to ensure greater convenience, reliability, and versatility, suitable for new solar adopters and those wishing to upgrade their existing solar systems. With the eSAJ platform, which includes eSAJ Home and eSAJ Service, the house owners and service providers can monitor, operate and maintain the system in an easy way. The HS2 All-In-One Residential Storage Solution, unveiled at the Solar Solutions Düsseldorf 2022, considerably improves the economy and stability of electricity for residential users. Compact and easy to install, the HS2 is compatible with high-power solar panels with a maximum PV input current of 16A and features a power range from 3 to 10 kW for the single-phase and three-phase models. It can provide power to supply home loads and be served as backup power in emergencies. The electricity bills will be minimized when there are peak and valley tariffs. About SAJ With 17 years of dedication and professionalism, SAJ has established itself as a pioneer in the new energy sector, providing reliable solar inverters, storage solutions, and mobile energy service platforms. SAJ has been recently named the winner of the iF and Red Dot Design Awards 2022 for its innovative designs.

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ENERGY,ECONOMY,INDUSTRY UPDATES

Genie Solar Achieves Notice to Proceed with Construction of Its First Company-Owned, Community Solar Generation Project

Genie Energy | December 07, 2022

Genie Energy Ltd.,a leading retail energy and renewable energy solutions provider, provided an update on two company-owned community solar projects totaling 10 megawatts of generation capacity. Genie Energy's Genie Solar subsidiary has obtained the notice to proceed (NTP) for its first company-owned project, a 4-megawatt community solar farm in Upstate New York. "This is a major milestone for our vertically-integrated solar strategy, and we're delighted to receive the NTP for our first company-owned community solar farm,The environmental benefit and the economics driving the development of community solar are compelling for the customers and the generators, and we expect to expand from this initial project to additional sites in the coming months." Michael Stein, CEO of Genie Energy. Construction of the ground-mount project is scheduled to begin in the first quarter of 2023. Once construction is completed, the start of generation will be contingent upon testing of the interconnection and final approval from the regional utility. Genie Solar has also completed a Coordinated Electric System Interconnection Review (CESIR) for a second company-owned community solar project in upstate New York and expects to achieve the NTP in early 2023. This 6-megawatt community solar project is also slated for construction in 2023. Stein added, "Community solar plays to Genie's strengths as an integrated solar provider. In our first two projects, we not only obtained control of the sites and are overseeing permitting, we are also financing and managing the construction of the projects. We'll utilize our own designed and manufactured solar panels and our retail arm will identify, enroll and manage the projects' customers. "This vertically-integrated approach enables us to capture significantly more of each project's realizable economics while delivering a superior value to our customers," Stein concluded. In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise. About Genie Energy Ltd.: Genie Energy Ltd. is a retail energy and renewable energy solutions provider. The Genie Retail Energy division supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division is a vertically-integrated provider of commercial, community and utility-scale solar energy solutions.

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SOLAR+STORAGE,ENERGY

Convergent Energy and Power Selected as 2022 Platts Global Energy Awards Finalist

Convergent Energy and Power | November 22, 2022

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, announced that it has been named a finalist for the 24th Annual Platts Global Energy Awards in the “Infrastructure Project of the Year” category.Often described by S&P Global Commodity Insights as "the Oscars of the energy industry," the Platts Global Energy Awards recognize corporate and individual innovation, leadership, and exemplary performance in 19 categories spanning the entire energy and chemicals complex. This year’s awards finalists represent 26 countries from Europe, Asia, and the Americas. Convergent was named a finalist in the “Infrastructure Project of the Year” category for its solution with National Grid, which is one of the first solar-plus-storage systems providing a non-wires-alternative (NWA). The system, designed, constructed, and operated by Convergent, will deliver more cost-effective, reliable, and sustainable electricity to National Grid customers in Cicero, New York, while leveraging solar energy during nonpeak periods. Because the system is DC coupled, meaning that two disparate systems are paired such that they share a single connection point to the grid, energy can be captured that would otherwise have been lost in an alternative solution, thereby increasing the utilization of emission-free energy. In addition to providing more sustainable, cost effective and reliable energy to National Grid and its customers, Convergent’s NWA defers the need to construct or upgrade components of pre-existing infrastructure, such as distribution or transmission systems. “It is an honor to be recognized by S&P Global for our efforts, together with our partners at National Grid, to modernize energy infrastructure and bring sustainable and cost-effective power to communities in New York State, Energy storage is the linchpin of the clean energy transition, 'firming' renewable generation so it is available when it is needed most. Convergent is committed to accelerating the clean energy transition through AI-powered energy storage; we believe this system will serve as a model for the broader energy storage sector.” -Johannes Rittershausen, Convergent’s Chief Executive Officer. The NWA Pine Grove installation in Cicero, N.Y. aligns with our Clean Energy Vision and is a glimpse into the future of electricity delivery, said Brian Gemmell, National Grid New York’s Chief Operating Office for Electric. “This solution increases the amount of renewable energy on the grid while deploying storage solutions to support our infrastructure at times of peak usage. Convergent Energy and Power’s innovation adds reliability and resiliency to our grid that directly benefits our customers. We are proud of our work with Convergent and honored to be recognized for it. "In a year of unexpected challenges, from Europe's energy crisis to trade-flow changes and banner market volatility, it's particularly inspiring to see the innovation and leadership of this year's finalists in steering a course toward a better energy future," said Sue Avinir, Senior Vice President of Conferences & Advisory Solutions, S&P Global Commodity Insights. "We're proud to honor this year's finalists and celebrate their efforts." The winners of the Platts Global Energy Awards will be selected by an independent panel of judges. Winners will be announced on December 8th at an awards ceremony and gala in New York City. About Convergent Energy and Power Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $500M invested in or committed to projects in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.

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SAJ Inks Agreement with Leading European Solar Distributor Solarclarity, Strengthening its Presence in Europe

SAJ | December 05, 2022

Solar inverters and storage solutions provider SAJ (or "the Company") announced that the company has reached a long-term cooperation agreement with Solarclarity, a leading distributor of sustainable energy systems in the Netherlands, at the Solar Solutions Düsseldorf 2022, the first satellite event of Solar Solutions International that gathers global solar professionals to showcase their latest innovations in solar energy. The agreement will first see one of SAJ's key products, the HS2 All-In-One Residential Storage Solution be available at Solarclarity from January 2023. "The business alliance with Solarclarity strengthens our reputation as a trusted and capable solar energy expert and innovator whose mission is to create a green, smart and efficient energy-use environment, pursuing a healthy and happy life. We will benefit from Solarclarity's expertise in accelerating our market penetration in Europe, bolstering our foothold in the region by bringing SAJ's residential digital energy solutions to more European households. Samil Ouyang, CEO of SAJ. SAJ's residential digital energy solutions are tailor-made for local users and are built from the ground up to ensure greater convenience, reliability, and versatility, suitable for new solar adopters and those wishing to upgrade their existing solar systems. With the eSAJ platform, which includes eSAJ Home and eSAJ Service, the house owners and service providers can monitor, operate and maintain the system in an easy way. The HS2 All-In-One Residential Storage Solution, unveiled at the Solar Solutions Düsseldorf 2022, considerably improves the economy and stability of electricity for residential users. Compact and easy to install, the HS2 is compatible with high-power solar panels with a maximum PV input current of 16A and features a power range from 3 to 10 kW for the single-phase and three-phase models. It can provide power to supply home loads and be served as backup power in emergencies. The electricity bills will be minimized when there are peak and valley tariffs. About SAJ With 17 years of dedication and professionalism, SAJ has established itself as a pioneer in the new energy sector, providing reliable solar inverters, storage solutions, and mobile energy service platforms. SAJ has been recently named the winner of the iF and Red Dot Design Awards 2022 for its innovative designs.

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ENERGY,ECONOMY,INDUSTRY UPDATES

Genie Solar Achieves Notice to Proceed with Construction of Its First Company-Owned, Community Solar Generation Project

Genie Energy | December 07, 2022

Genie Energy Ltd.,a leading retail energy and renewable energy solutions provider, provided an update on two company-owned community solar projects totaling 10 megawatts of generation capacity. Genie Energy's Genie Solar subsidiary has obtained the notice to proceed (NTP) for its first company-owned project, a 4-megawatt community solar farm in Upstate New York. "This is a major milestone for our vertically-integrated solar strategy, and we're delighted to receive the NTP for our first company-owned community solar farm,The environmental benefit and the economics driving the development of community solar are compelling for the customers and the generators, and we expect to expand from this initial project to additional sites in the coming months." Michael Stein, CEO of Genie Energy. Construction of the ground-mount project is scheduled to begin in the first quarter of 2023. Once construction is completed, the start of generation will be contingent upon testing of the interconnection and final approval from the regional utility. Genie Solar has also completed a Coordinated Electric System Interconnection Review (CESIR) for a second company-owned community solar project in upstate New York and expects to achieve the NTP in early 2023. This 6-megawatt community solar project is also slated for construction in 2023. Stein added, "Community solar plays to Genie's strengths as an integrated solar provider. In our first two projects, we not only obtained control of the sites and are overseeing permitting, we are also financing and managing the construction of the projects. We'll utilize our own designed and manufactured solar panels and our retail arm will identify, enroll and manage the projects' customers. "This vertically-integrated approach enables us to capture significantly more of each project's realizable economics while delivering a superior value to our customers," Stein concluded. In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise. About Genie Energy Ltd.: Genie Energy Ltd. is a retail energy and renewable energy solutions provider. The Genie Retail Energy division supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division is a vertically-integrated provider of commercial, community and utility-scale solar energy solutions.

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SOLAR+STORAGE,ENERGY

Convergent Energy and Power Selected as 2022 Platts Global Energy Awards Finalist

Convergent Energy and Power | November 22, 2022

Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, announced that it has been named a finalist for the 24th Annual Platts Global Energy Awards in the “Infrastructure Project of the Year” category.Often described by S&P Global Commodity Insights as "the Oscars of the energy industry," the Platts Global Energy Awards recognize corporate and individual innovation, leadership, and exemplary performance in 19 categories spanning the entire energy and chemicals complex. This year’s awards finalists represent 26 countries from Europe, Asia, and the Americas. Convergent was named a finalist in the “Infrastructure Project of the Year” category for its solution with National Grid, which is one of the first solar-plus-storage systems providing a non-wires-alternative (NWA). The system, designed, constructed, and operated by Convergent, will deliver more cost-effective, reliable, and sustainable electricity to National Grid customers in Cicero, New York, while leveraging solar energy during nonpeak periods. Because the system is DC coupled, meaning that two disparate systems are paired such that they share a single connection point to the grid, energy can be captured that would otherwise have been lost in an alternative solution, thereby increasing the utilization of emission-free energy. In addition to providing more sustainable, cost effective and reliable energy to National Grid and its customers, Convergent’s NWA defers the need to construct or upgrade components of pre-existing infrastructure, such as distribution or transmission systems. “It is an honor to be recognized by S&P Global for our efforts, together with our partners at National Grid, to modernize energy infrastructure and bring sustainable and cost-effective power to communities in New York State, Energy storage is the linchpin of the clean energy transition, 'firming' renewable generation so it is available when it is needed most. Convergent is committed to accelerating the clean energy transition through AI-powered energy storage; we believe this system will serve as a model for the broader energy storage sector.” -Johannes Rittershausen, Convergent’s Chief Executive Officer. The NWA Pine Grove installation in Cicero, N.Y. aligns with our Clean Energy Vision and is a glimpse into the future of electricity delivery, said Brian Gemmell, National Grid New York’s Chief Operating Office for Electric. “This solution increases the amount of renewable energy on the grid while deploying storage solutions to support our infrastructure at times of peak usage. Convergent Energy and Power’s innovation adds reliability and resiliency to our grid that directly benefits our customers. We are proud of our work with Convergent and honored to be recognized for it. "In a year of unexpected challenges, from Europe's energy crisis to trade-flow changes and banner market volatility, it's particularly inspiring to see the innovation and leadership of this year's finalists in steering a course toward a better energy future," said Sue Avinir, Senior Vice President of Conferences & Advisory Solutions, S&P Global Commodity Insights. "We're proud to honor this year's finalists and celebrate their efforts." The winners of the Platts Global Energy Awards will be selected by an independent panel of judges. Winners will be announced on December 8th at an awards ceremony and gala in New York City. About Convergent Energy and Power Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $500M invested in or committed to projects in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.

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