What is nuclear power’s role in energy transition?

Because nuclear energy does not require the burning of fossil fuels, it does not directly contribute to greenhouse gas emissions and climate change — which has led some to say that it could make the energy transition more feasible. Climate change might also pose some risks to the nuclear power business. Low energy prices are disincentivizing further investment in aging power plants, and natural gas and renewable energy are expected to replace power from the closing plants. Concerns about nuclear power’s safety and cost have clouded the technology’s role in the transition to clean energy.

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Ion Solar

Ion Solar is a premium, full-service solar provider. We offer affordable solar solutions that allow our customers to enjoy the benefits of solar with little or no up-front costs. Our full service includes the design of the system, all required permitting, installation and inspection, and system maintenance, all for a fraction of the cost of traditional power and using all premium equipment.

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Strategy and Best Practices

5 Challenges in Renewable Energy in 2021

Article | July 8, 2022

Energy is an important feature in the economic and political development of a country. In developed nations like the USA, energy expansion has now reached a point where renewable energy sources also play a large part in the production of electricity. To meet the energy demands of the country, most production of renewable energy comes from fossil fuels and other non-renewable energy sources. Around 25% of the world’s energy is generated with renewable energy resources- mainly solar, wind, hydropower, and in some cases, geothermal. It is one of the fastest-growing electricity sources. Renewable energy is collected from resources that are abundantly available in the environment, like the sun or wind. There has been a growing interest in renewable energy production as fossil fuels are depleting. In most parts of the world, renewable energy has become a primary source of energy production. Renewable energy is preferred as they produce fewer greenhouse gases than non-RE sources. There are several other advantages to renewable sources like lower carbon emissions, reduced air pollution, and other socioeconomic benefits. However, unlike non-RE sources, there are challenges in renewable energy like economic, political and regulatory barriers, structural, social, and technical challenges which require advancement in technology, and a heavy investment with a proper understanding of obstacles it faces. Some obstacles are due to technology associated with renewable energy, whereas others are because of policies, marketplace, regulations, and infrastructure. Impact of Covid-19 The Covid-19 pandemic has brought the world to a grinding halt. It has severely impacted individuals and businesses alike, with many of the latter being closed down permanently. Similarly, the pandemic has also impacted the expansion of clean energy systems by forcefully curbing any investments. The technology and adoption of renewables have been making uneven but sure progress. The global pandemic has slowed down this development. According to International Energy Agency, the global share of electricity supply from renewables had reached 28% in 2020 from 26% in 2019, but the growth is expected to slow down further. The total energy supply is set to reduce by 13% from 2019. This substantial decline can be attributed to supply chain disruptions, lockdown, and emerging financial problems. Transport biofuel production and renewable heat consumption are projected to decline due to lower industrial activity. Governments have an opportunity to promote and accelerate the use of clean energy by incentivizing building, technology, and infrastructure across the country. This would be crucial to rebuilding the economy, create jobs, and build efficiency. Capital Costs and Investment The most obvious challenge of widespread adoption of renewables is cost, predominantly infrastructure costs like building and installing solar and wind power plants. Although it is quite cheap to operate and maintain solar and wind power plants, installation becomes more and more expensive. Over the last few years, even though the prices of installation of solar panels has fallen significantly, it remains higher than non-renewables. On average, a 2-kilowatt solar panel system costs $4,159 after tax credits, whereas the capital cost of a gas-fired power plant would cost lesser than that. In the last two years, investment in renewables has increased, but that is only because the investments in fossil fuels have been rapidly falling. Clean energy investments still fall short of what is necessary to convert into a more sustainable future. To ensure continuous investment in sustainable energy, policymakers have to focus on short investment turnaround, focus on rapid environmental gains favoring cleaner energy generation. Power on demand One of the most significant challenges of renewables is the ability to provide power on demand. In the case of solar power, you only get energy during the day and only when it is sunny. As for wind energy, power is generated only when it is windy. There is an intermittent generation of power in renewables which wouldn’t be a problem if there were appropriate energy storage solutions. The biggest test in providing power on demand is storage. Even if homes, businesses, or states install wind energy systems or solar panels, storing the generated energy is still an unsolved issue. Opponents of renewable energy highlight the reliability factor on solar and wind to augment support for coal, gas, and nuclear plants, which provide baseload power. This argument is used by lobbyists to drive out investment into renewables, thus becoming a barrier to widespread adoption of wind and solar energy. Location challenges Renewable energy plants have grids that require a large area of land. It can be unappealing to customers to switch to renewable energy sources as it is conditional depending on the size of the land. Not all states and regions are apt to build solar panels or have wind turbines as they are dependent on the geographical location. For example, building solar panels in California makes more sense than building them in New York as the former has an abundant supply of both sun and land. Renewables operates on what is known as a decentralized model. In a decentralized power plant, small generating stations are spread across a larger area that works collectively to deliver power. In the case of coal, nuclear power, or natural gas, they are highly centralized and depend on fewer high output power plants. Siting Decentralized systems prove to be a problem for siting and transmission of energy created by solar or wind. Siting is needed to move blades or solar panels to large pieces of land. To do so requires to draw up contracts, negotiate, acquire permits, or build community relations; all of this can delay or kill a renewable project even before it begins. Businesses can incur additional charges due to demand and delivery which seems like a significant challenge for them. Utility services apply these charges to recover costs of purchasing energy and maintaining power lines and energy lost in the transmission system. Moving power sources closer to your business will help you avoid such preventable expenses. Transmission The next challenge to overcome in renewables is the transmission of generated electricity. Transmission means the transfer of electricity from where it is generated to where it is consumed. Most transmitters that exist in this day and age are built for coal and other fossil fuels and not renewables. To make things easier for transmission of clean energy, there needs to be a significant infrastructure and technological development, which cost a lot of money. Making the economics work with financing and siting can prove costly for developers and customers alike. Policies and Regulations Unfortunately, the fossil fuel industry is backed by multi-billionaires who wield a considerable amount of political influence. This severely affects the chances of expansion for the renewable industry. Industry experts estimate that the USA spends upwards of $60 billion on subsidies for fossil fuels every year. The taxpayers have helped fund the industry’s research and development, drilling, mining, and generation of electricity. Renewables like wind and solar enjoy much lesser subsidies and political backing. The fossil fuel industry has used its enormous power to spread misinformation about climate change. To increase public interest and investment in renewables, there need to be clear and concise legal procedures and regulatory policies. Having proper regulations in place creates a stable environment for investment and overcome hurdles and can anticipate the revenue streams. Large-scale renewable energy projects require a large amount of capital which is hindered by the failure of proper policies that fail to attract private players. Frequently Asked Questions What is a major challenge with using more renewable energy? Renewable energy is competing with fossil fuels and nuclear technology. Other major challenges include underdeveloped infrastructure and lack of economies of scale. What are the benefits of using renewable energy? Some benefits of using renewable energy are lower energy costs, reduction of emissions, massive positive impact on environment, and marketing opportunities for businesses. Is renewable energy cheaper than fossil fuels? Fossil fuels are subsidized which makes it cheaper at the beginning. However, renewables get cheaper to maintain over the years hence making it cheaper than fossil fuels. What is the cheapest source of renewable energy? Solar PV and on site wind are the cheapest sources of renewable energy sources. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is a major challenge with using more renewable energy?", "acceptedAnswer": { "@type": "Answer", "text": "Renewable energy is competing with fossil fuels and nuclear technology. Other major challenges include underdeveloped infrastructure and lack of economies of scale." } },{ "@type": "Question", "name": "What are the benefits of using renewable energy?", "acceptedAnswer": { "@type": "Answer", "text": "Some benefits of using renewable energy are lower energy costs, reduction of emissions, massive positive impact on environment, and marketing opportunities for businesses." } },{ "@type": "Question", "name": "Is renewable energy cheaper than fossil fuels?", "acceptedAnswer": { "@type": "Answer", "text": "Fossil fuels are subsidized which makes it cheaper at the beginning. However, renewables get cheaper to maintain over the years hence making it cheaper than fossil fuels." } }] }

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Solar+Storage

How Does Employing Energy Management Systems Helps Businesses?

Article | June 14, 2022

While most businesses presently strive to achieve environmentally friendly operations and lower their carbon footprints, this argument might not sway all businesses or company executives. While using renewable energy sources or energy management systems has clear environmental benefits, businesses that want to improve their operations and decrease overhead expenses should also consider such technologies. A steady and high-quality power supply is required for the smooth running of any kind of industry. Energy management systems (EMS) are used by a variety of industries to provide a consistent and dependable supply of energy. Energy Management Systems: Advantages for a Business Businesses and industries that use energy management solutions often achieve considerably bigger savings than those that do not use such systems. EMS examines all of the company's processes and enhances them for energy savings. The savings realized by the usage of energy management systems have a direct influence on the bottom line. Some of the most significant benefits of energy management systems are listed below. Improved Brand Image Using energy management systems result in lower power usage and, as a consequence, more environmentally friendly operations. Process optimization is recognized by business clients, customers, and suppliers because it shows excellence in planning and management. Better Productivity and Competitive Edge Reducing energy consumption via process optimization and effective load planning not only increases the overall productivity of industrial operations but also helps businesses to catch up with their competitors through continual process development. Cost-Reduction Energy management systems can ensure at least a 20% decrease in energy bills. System administrators can save up to 10% of their total energy expenditures with modest investments and no upfront costs. Supervisors can save up to one-third of their initial overhead expenses by using energy management solutions in a planned and methodical manner. Closing Lines An energy management system can help any organization save money on energy bills. There are many different energy management systems on the market, so make sure you choose one that is the right size for your business. If you're unclear about which system to buy, a good energy monitoring system can help you assess your performance and point you in the correct direction for process improvement.

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Solar+Storage

Indigenous lands can be ground zero for a wind energy boom

Article | June 8, 2022

It all started about four years ago, when SUVs and pickup trucks drove uninvited onto their lands, remembers Olimpia Palmar, a member of the Indigenous Wayúu peoples, who historically have occupied the La Guajira desert in northern Colombia and Venezuela. "We started seeing these arijunas [Wayuúunaiki for non-native peoples] wearing construction helmets and boots and vests, getting out of the cars, checking the desert, and then leaving," she recalls. Word soon began circulating across the Guajira Peninsula, from the rancherías — the community’s rural settlements — to the few urban centers: The arijunas were offering money to those who would let them plant tall, slim towers on their lands to measure the wind. On La Guajira’s dusty earth, where few things grow, towers began to sprout. By 2019, at least 30 wind-measuring towers had risen on Wayúu land, according to a report by Indepaz, a nonprofit research center.

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Energy

AI in the Renewable Energy Sector: Investment Perspective

Article | July 15, 2022

As the worldwide use of artificial intelligence (AI) in the energy market is expected to reach $7.78 billion by 2024, with a CAGR of 22.49% from 2019 to 2024, it is easy to see why it's a popular topic on the minds of many leading brands in the energy sector, as well as investors looking to reap the future perks that AI could bring to the energy industry. According to BIS Research, North America is expected to be the largest market for AI in energy through 2024. However, Asia-Pacific is expected to rise rapidly over the same time due to the rising need for more decentralized power production. Investment Opportunities in AI-based Energy Industry: Economic Visibility AI's economic viability and progress in the energy business can be attributed to numerous factors, including: The desire to increase operational efficiency. Increased interest in energy efficiency. Decentralized electricity generation is being expanded. Battery storage solutions are gaining popularity. Since artificial intelligence has a wide range of applications, there are several investment opportunities in the energy industry. Upstream Oil and Gas Enhance efficiency and decrease downtime, which is critical for hydrocarbon companies owing to volatile oil prices and demand, to lessen the environmental implications of energy generation and consumption. AI Chatbots AI has the potential to enhance interactions between contact centers and consumers. Utilities that outsource to contact center providers can suffer significant fees. This is where AI, particularly when combined with natural language processing (NLP), can assist contact center operators by listening to conversations and automatically noting information in the appropriate apps, helping operators to make calls more reliable, effective, and satisfying to customers. Smart Homes and Cities AI integration benefits smart meters and smart energy management systems as well. Many residences and towns can utilize AI to collect real-time data and apply it in a number of ways to function more effectively and efficiently, enhancing sustainability while also making a living more comfortable and cities more accessible. Monitoring Trends in Energy Generation and Consumption Artificial intelligence is being utilized to assist energy companies and customers in recognizing and tracking patterns in energy generation and consumption. AI, for example, can predict the potential output of a certain wind or solar plant. Closing Lines Banking, finance, and trade are some of the suitable businesses that can profit. For example, AI and machine learning can be used in algorithmic trading, which involves utilizing computer programs to make trades in the energy business at speeds and frequencies that any human trader would consider inconceivable.

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Ion Solar

Ion Solar is a premium, full-service solar provider. We offer affordable solar solutions that allow our customers to enjoy the benefits of solar with little or no up-front costs. Our full service includes the design of the system, all required permitting, installation and inspection, and system maintenance, all for a fraction of the cost of traditional power and using all premium equipment.

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Schneider Electric and ORPC Join Forces to Advance Marine Energy as a Renewable Energy Source for Remote Communities

Schneider Electric | December 08, 2022

Schneider Electric, the global leader in the digital transformation of energy management and automation, and ORPC, an internationally recognized leader in marine energy technology, innovation and operational excellence, have signed a memorandum of understanding to collaborate on microgrid projects to advance marine energy as a commercially-viable renewable energy source. Through this collaboration, ORPC and Schneider Electric will install microgrid systems that include Schneider Electric’s energy storage and smart microgrid controllers with ORPC’s RivGen Power Systems to provide communities worldwide with highly predictable baseload electricity in renewable energy form, enabling the global transition towards net-zero societies. “The ability to provide exciting, cutting-edge, sustainable solutions, like ORPC’s RivGen Power System, works as part of a portfolio of microgrid systems for our customers. It paves the way to establish marine energy as a commercially viable solution in the renewable energy mix,” said Bala Vinayagam, SVP Microgrid Line of Business from Schneider Electric. “The path to net zero includes many forms of decarbonization and having microgrid systems with ORPC’s technology only widens the impact on what our solutions can provide.” Schneider Electric and ORPC are already working on implementing this solution in partnership with the remote, tribal community of Igiugig, Alaska. When this project is completed in the summer of 2023, the integrated system will form the grid for the community, moving the existing diesel generators to back-up and enabling the village to operate without diesel for between 60% and 90% of the time. In Igiugig, ORPC’s RivGen Power System has proven successful operating through three winters with temperatures going as low as -40 degrees C. As a result of environmental monitoring of the Igiugig project, comprising hundreds of hours of data, not a single injury or mortality to marine or aquatic life has been observed. Schneider Electric supplied Battery Energy Storage System (BESS) with EcoStruxure Microgrid Operation to enable use of River Gen system for diesel reduction. This is achieved by leveraging the Grid forming capability of the Schneider Electric BESS. ORPC has already received inbound interest in its power systems from over 40 countries. Schneider’s global operations include offices in over 100 countries which will enable the two companies to build a global pipeline of projects. ‘’Nearly 1 billion people globally have no access to electricity and another 700 million rely on diesel-fueled off-grid systems. These communities pay up to 15 times more for electricity than grid-connected areas do, and deal daily with the noise, poor air quality and environmental risk resulting from diesel fuel use,” said ORPC CEO Stuart Davies. “We are so pleased to join forces with Schneider Electric, recognized as a leader for microgrid technology and sustainability (2022 Verdantix report) to better respond to the market inquiries we’ve been receiving and together provide baseload power solutions to these areas of the world with the greatest need.” “The combination of ORPC’s RivGen Power System and Schneider Electric’s energy storage and smart microgrid controller can serve as a powerful tool to address climate change. For communities already using diesel generators, this system can provide a baseload energy solution and replacement for existing systems,” said Alexandre Paris, Senior Vice President & COO, ORPC. “Developing economies can build out their electricity networks economically without using expensive, centralized grids reliant on fossil fuels.” “This partnership is an important step forward in our company’s journey to provide everyone, everywhere with access to clean, reliable electricity from sustainable sources such as marine renewable energy. The combination of Schneider Electric’s microgrid technology and ORPC’s power system solution offers an innovative path to bridge progress and sustainability – and empowers remote communities to help lead the energy transition and preserve the natural environment on which they have built their lives. I am proud of this collaboration and excited to see the new pathways we create together.” Frederick Morency, VP Sustainability, Strategic Initiatives & Innovation, Schneider Electric. About ORPC Headquartered in the U.S., with subsidiaries in Canada, Ireland and Chile, ORPC is a recognized leader in marine energy technology innovation and operational excellence. A developer of clean, renewable power systems that harness energy from free-flowing rivers and tidal currents, ORPC’s rise to a leadership position in the worldwide marine energy industry is based on an impressive record of continuous improvement and success. In 2021, ORPC was honored as "Innovator of the Year," by the State of Maine’s International Trade Center and has a long track record of prestigious awards dating back more than a decade, including “World’s Top Ten Most Innovative Companies in Energy” by Fast Company (2013), and the National Hydropower Association’s Award for Operational Excellence in 2016 (ORPC is the first marine energy company to receive this award). About Schneider Electric Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

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Energy,Economy,Industry Updates

Rivian Inks Wind Energy Deal with Apex Clean Energy to Power Illinois Manufacturing

Rivian | December 07, 2022

Rivian and Apex Clean Energy today announced the signing of a power purchase agreement (PPA) for 50 megawatts (MW) of electricity from the renewable energy company’s proposed Goose Creek Wind farm in Piatt County, Illinois. As Rivian’s first large-scale procurement, the agreement supports the company’s long-term vision of enabling high-impact renewable energy projects that reduce its carbon footprint while also benefiting customers, communities, and the electrical grid. This purchase, along with other renewable sourcing and on-site generation, will allow Rivian to power as much as 75% of its Normal, Illinois, plant operations with carbon-free energy on an hourly basis. The PPA will also contribute to the company’s commitment to power its Rivian Adventure Network and Waypoints charging with 100% renewable energy. Importantly, this is Rivian’s first major renewable energy purchase and a critical investment in Illinois—supporting homegrown jobs, economic development, tax revenues, and clean energy in the Prairie State. “About a third of global greenhouse gas emissions come from transportation, with nearly another third from electricity generation. We have a tremendous opportunity at Rivian to help tackle emissions beyond the tailpipe to support decarbonization of manufacturing and charging of electric vehicles, Long-term success for us means helping to accelerate the transition to carbon-free energy across the entire economy, not just within Rivian’s own footprint.” Andrew Peterman, Rivian Director of Renewable Energy. Rivian’s renewable energy strategy combines climate impact, community, and local ecological considerations. Working with The Nature Conservancy and its Site Renewables Right initiative, Rivian aims to support grid decarbonization while also promoting renewable developments that enhance the land, protect critical biodiversity, and improve local economies. “With Goose Creek Wind, Rivian is modeling an innovative approach to clean energy procurement—one that emphasizes maximum benefit to the local community, economy, and environment,” said Mark Goodwin, President and CEO of Apex. “Apex continues to expand opportunities for corporations committed to strengthening local project areas, reducing carbon impact, and restoring natural habitat—all priorities for Rivian as it continues to build out its vision for the future.” Within an hour's drive of Rivian’s flagship Normal facility, Goose Creek Wind will put more carbon-free energy on the Central Illinois grid by tapping the region’s largest and most sustainable resource—the wind. Rivian promotes and relies on the growth of clean energy in Illinois, contributing to statewide efforts to increase the proportion of renewables from 11%—compared to the national average of 20%—and reduce marginal emissions of a carbon intensive grid. Rivian has signed the Climate Pledge to reach net-zero carbon emissions by 2040, 10 years ahead of the Paris Agreement. Apex is currently in the process of securing local permits and approvals for the 300 MW Goose Creek Project to be built and as a stipulation of the PPA. The project is slated to begin operations in 2024. About Rivian Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships. About Apex Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America. Our mission-driven team of over 400 professionals uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers.

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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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Products,Market Research,Industry Updates

Schneider Electric and ORPC Join Forces to Advance Marine Energy as a Renewable Energy Source for Remote Communities

Schneider Electric | December 08, 2022

Schneider Electric, the global leader in the digital transformation of energy management and automation, and ORPC, an internationally recognized leader in marine energy technology, innovation and operational excellence, have signed a memorandum of understanding to collaborate on microgrid projects to advance marine energy as a commercially-viable renewable energy source. Through this collaboration, ORPC and Schneider Electric will install microgrid systems that include Schneider Electric’s energy storage and smart microgrid controllers with ORPC’s RivGen Power Systems to provide communities worldwide with highly predictable baseload electricity in renewable energy form, enabling the global transition towards net-zero societies. “The ability to provide exciting, cutting-edge, sustainable solutions, like ORPC’s RivGen Power System, works as part of a portfolio of microgrid systems for our customers. It paves the way to establish marine energy as a commercially viable solution in the renewable energy mix,” said Bala Vinayagam, SVP Microgrid Line of Business from Schneider Electric. “The path to net zero includes many forms of decarbonization and having microgrid systems with ORPC’s technology only widens the impact on what our solutions can provide.” Schneider Electric and ORPC are already working on implementing this solution in partnership with the remote, tribal community of Igiugig, Alaska. When this project is completed in the summer of 2023, the integrated system will form the grid for the community, moving the existing diesel generators to back-up and enabling the village to operate without diesel for between 60% and 90% of the time. In Igiugig, ORPC’s RivGen Power System has proven successful operating through three winters with temperatures going as low as -40 degrees C. As a result of environmental monitoring of the Igiugig project, comprising hundreds of hours of data, not a single injury or mortality to marine or aquatic life has been observed. Schneider Electric supplied Battery Energy Storage System (BESS) with EcoStruxure Microgrid Operation to enable use of River Gen system for diesel reduction. This is achieved by leveraging the Grid forming capability of the Schneider Electric BESS. ORPC has already received inbound interest in its power systems from over 40 countries. Schneider’s global operations include offices in over 100 countries which will enable the two companies to build a global pipeline of projects. ‘’Nearly 1 billion people globally have no access to electricity and another 700 million rely on diesel-fueled off-grid systems. These communities pay up to 15 times more for electricity than grid-connected areas do, and deal daily with the noise, poor air quality and environmental risk resulting from diesel fuel use,” said ORPC CEO Stuart Davies. “We are so pleased to join forces with Schneider Electric, recognized as a leader for microgrid technology and sustainability (2022 Verdantix report) to better respond to the market inquiries we’ve been receiving and together provide baseload power solutions to these areas of the world with the greatest need.” “The combination of ORPC’s RivGen Power System and Schneider Electric’s energy storage and smart microgrid controller can serve as a powerful tool to address climate change. For communities already using diesel generators, this system can provide a baseload energy solution and replacement for existing systems,” said Alexandre Paris, Senior Vice President & COO, ORPC. “Developing economies can build out their electricity networks economically without using expensive, centralized grids reliant on fossil fuels.” “This partnership is an important step forward in our company’s journey to provide everyone, everywhere with access to clean, reliable electricity from sustainable sources such as marine renewable energy. The combination of Schneider Electric’s microgrid technology and ORPC’s power system solution offers an innovative path to bridge progress and sustainability – and empowers remote communities to help lead the energy transition and preserve the natural environment on which they have built their lives. I am proud of this collaboration and excited to see the new pathways we create together.” Frederick Morency, VP Sustainability, Strategic Initiatives & Innovation, Schneider Electric. About ORPC Headquartered in the U.S., with subsidiaries in Canada, Ireland and Chile, ORPC is a recognized leader in marine energy technology innovation and operational excellence. A developer of clean, renewable power systems that harness energy from free-flowing rivers and tidal currents, ORPC’s rise to a leadership position in the worldwide marine energy industry is based on an impressive record of continuous improvement and success. In 2021, ORPC was honored as "Innovator of the Year," by the State of Maine’s International Trade Center and has a long track record of prestigious awards dating back more than a decade, including “World’s Top Ten Most Innovative Companies in Energy” by Fast Company (2013), and the National Hydropower Association’s Award for Operational Excellence in 2016 (ORPC is the first marine energy company to receive this award). About Schneider Electric Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

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Energy,Economy,Industry Updates

Rivian Inks Wind Energy Deal with Apex Clean Energy to Power Illinois Manufacturing

Rivian | December 07, 2022

Rivian and Apex Clean Energy today announced the signing of a power purchase agreement (PPA) for 50 megawatts (MW) of electricity from the renewable energy company’s proposed Goose Creek Wind farm in Piatt County, Illinois. As Rivian’s first large-scale procurement, the agreement supports the company’s long-term vision of enabling high-impact renewable energy projects that reduce its carbon footprint while also benefiting customers, communities, and the electrical grid. This purchase, along with other renewable sourcing and on-site generation, will allow Rivian to power as much as 75% of its Normal, Illinois, plant operations with carbon-free energy on an hourly basis. The PPA will also contribute to the company’s commitment to power its Rivian Adventure Network and Waypoints charging with 100% renewable energy. Importantly, this is Rivian’s first major renewable energy purchase and a critical investment in Illinois—supporting homegrown jobs, economic development, tax revenues, and clean energy in the Prairie State. “About a third of global greenhouse gas emissions come from transportation, with nearly another third from electricity generation. We have a tremendous opportunity at Rivian to help tackle emissions beyond the tailpipe to support decarbonization of manufacturing and charging of electric vehicles, Long-term success for us means helping to accelerate the transition to carbon-free energy across the entire economy, not just within Rivian’s own footprint.” Andrew Peterman, Rivian Director of Renewable Energy. Rivian’s renewable energy strategy combines climate impact, community, and local ecological considerations. Working with The Nature Conservancy and its Site Renewables Right initiative, Rivian aims to support grid decarbonization while also promoting renewable developments that enhance the land, protect critical biodiversity, and improve local economies. “With Goose Creek Wind, Rivian is modeling an innovative approach to clean energy procurement—one that emphasizes maximum benefit to the local community, economy, and environment,” said Mark Goodwin, President and CEO of Apex. “Apex continues to expand opportunities for corporations committed to strengthening local project areas, reducing carbon impact, and restoring natural habitat—all priorities for Rivian as it continues to build out its vision for the future.” Within an hour's drive of Rivian’s flagship Normal facility, Goose Creek Wind will put more carbon-free energy on the Central Illinois grid by tapping the region’s largest and most sustainable resource—the wind. Rivian promotes and relies on the growth of clean energy in Illinois, contributing to statewide efforts to increase the proportion of renewables from 11%—compared to the national average of 20%—and reduce marginal emissions of a carbon intensive grid. Rivian has signed the Climate Pledge to reach net-zero carbon emissions by 2040, 10 years ahead of the Paris Agreement. Apex is currently in the process of securing local permits and approvals for the 300 MW Goose Creek Project to be built and as a stipulation of the PPA. The project is slated to begin operations in 2024. About Rivian Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships. About Apex Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America. Our mission-driven team of over 400 professionals uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers.

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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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