Invesco Solar has outperformed the broader market, New Jersey ends SREC program

pv magazine USA | April 07, 2020

The Invesco Solar ETF, a fund that tracks solar stocks, has outperformed the broader market in recent years as investors flocked to companies propelled by falling equipment prices, exploding valuations in the technology sector, policies aimed at reducing carbon emissions and, recently, surging interest in ESG issues. Then the calendar turned to March. With equity markets roiled by the economic fallout from the coronavirus pandemic and an oil price war, losses suffered by the Invesco Solar ETF and other clean-energy funds outpaced the S&P 500’s 12.5% decline last month. Analysts say renewables still enjoy long-term tailwinds and that the sector is poised to rebound strongly. But the industry that emerges from the current crisis is likely to look different than it did before. Source: SP Global New Jersey is ending the state’s Solar Renewable Energy Certificate (SREC) Registration Program on April 30th, after the state’s utility regulators declared that 5.1% of the retail electricity sold in the state is generated from solar power.

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Duke Energy has Begun Working on the World's Largest Solar Plant in Surry County, North Carolina

Duke Energy | June 23, 2021

Duke Energy is continuing to grow solar power in North Carolina, with the commencement of construction on its 22.6-megawatt (MW) Stony Knoll Solar power plant. It will be the biggest solar energy facility in Surry County when finished. Duke Energy Sustainable Solutions will own and operate the project. The project was chosen as part of the competitive bidding procedure created by North Carolina's solar law in 2017. Trina Solar bifacial modules with single-axis tracking will be used in the solar project, which will have 76,600 of them. The facility will be built on 195 acres in Dobson, North Carolina, along Rockford Road. The facility will provide enough energy to power 5,000 households. It plans to go commercial before the end of 2021. "Duke Energy is increasing the amount of carbon-free, sustainable power available to North Carolina consumers. We're excited to add Surry County to our ever-expanding list of solar areas as we endeavor to drastically cut carbon emissions on our way to net-zero emissions by 2050 "stated Stephen De May, president of Duke Energy, North Carolina. Proposed projects must be built where there is a need for energy capacity on the Duke Energy system in North Carolina or South Carolina under North Carolina's Competitive Procurement for Renewable Energy. Bids may be submitted by any company, including Duke Energy, and may take the form of power purchase agreements (PPA), utility self-developed facilities, or utility asset acquisitions. "We are excited to continue to expand the state's renewable energy resources. The Stony Knoll solar project is the third facility we've unveiled in North Carolina this year, demonstrating our continued effort to boosting sustainable energy generation in the state "Duke Energy Sustainable Solutions president Chris Fallon stated. Stony Knoll Solar will employ around 70 people during peak construction. Along with the indirect economic benefits that come with solar project development, also including increased local spending in the service and construction industries, Stony Knoll Solar would also have a strong economic impact on the local community by providing local tax revenues to both the county and regional school districts, as well as constructive payments to participating landholders. Through the work of the Duke Energy Foundation, Duke Energy Sustainable Solutions also helps the communities in which its facilities and team members are located. The firm gave $10,000 to Copeland Elementary School in Dobson in January to help support the purchase of Chromebooks for pupils. Swinerton Renewable Energy will design the facility, purchase inverters, balance of plant systems, and build the project. Stony Knoll's electricity will be provided under a 20-year power purchase contract with Duke Energy Carolinas. Duke Electricity maintains more than 3,700 MW of solar power on its North Carolina energy system, enough to power about 700,000 homes and businesses at peak production. Throughout addition, the firm runs around 40 solar plants in the state. North Carolina now ranks third in the US in terms of overall solar power. More over half of North Carolina's energy mix is carbon-free, thanks to nuclear, hydro, and renewable energy. Duke Energy, one of the nation's leading renewable energy suppliers, intends to increase its enterprisewide renewables portfolio from 8 gigawatts (GW) to 16 GW by the end of the year 2025. About Duke Energy Sustainalbe Solutions: Duke Energy Sustainable Solutions is a nonregulated commercial firm of Duke Energy (NYSE: DUK), a Fortune 150 corporation located in Charlotte, North Carolina, and one of the largest energy holding companies in the United States. Duke Energy Sustainable Solutions is a pioneer in sustainable energy, assisting big corporations in lowering electricity costs, lowering emissions, and increasing resiliency. The team delivers wind, solar, resilient backup power, and managed energy services to over 1,000 projects throughout the United States, with a cumulative nonregulated renewable energy capacity of far more than 5,100 megawatts. Duke Energy is implementing an aggressive clean energy plan to build a better energy future for its customers and communities, with targets of at least a 50% decrease in carbon emissions by 2030 and net-zero emissions by 2050. The firm is a leading provider of renewable energy in the United States, with plans to operate or buy 16,000 megawatts of renewable energy capacity by 2025. The Duke Energy News Center includes press releases, info sheets, pictures, videos, and other media. Duke Energy's lighting tells tales about individuals, innovations, neighbourhood challenges, and environmental concerns.

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Pivot Energy and Standard Solar to Develop Three New Community Solar Projects in Colorado

Pivot Energy | May 12, 2021

Pivot Energy, Colorado's largest community solar developer, and Standard Solar, Inc., a nationally recognized leader in the development, financing, ownership, and maintenance of commercial and community solar assets, have announced the development of three new Colorado community solar projects. Two of the projects are in Garfield County, and the third is in Jefferson County. The projects will generate enough electricity to power more than 700 homes and a total of four megawatts of new renewable and abundant solar energy. One megawatt of the portfolio is dedicated exclusively to servicing low-income subscribers, with the remaining three megawatts subscribed to by local governments and organizations. Pivot Energy designed and built the solar gardens and will manage the customers, while Standard Solar will finance, own, and maintain the systems. Community solar is rapidly expanding across Colorado as a way for local governments to help meet renewable energy goals while also offering the potential for meaningful cost savings to everyone who pays an electric bill. Via the Garfield Clean Energy Collaborative and other initiatives, Clean Energy Economy for the Region (CLEER), a major clean energy advocacy organization for Colorado's western slope region, promotes the increased development of community solar. Both solar gardens in Garfield County will be operational in June 2021, while the Jefferson County plant will be operational later this year. In 2021, Pivot intends to develop more gardens on the western slope. About Pivot Energy Pivot Energy is a national solar provider that designs, funds, constructs, and operates solar and storage energy projects. Pivot is a distributed energy platform with a variety of services and software aimed at supporting the entire solar ecosystem. Pivot runs on a triple bottom line model, with results measured by the positive effect on people, the planet, and profit. About Standard Solar Standard Solar is driving the nation's energy revolution by utilizing its project development skills, financial ability, and technological expertise to bring solar and solar + storage benefits to businesses, institutions, farms, governments, communities, and utilities. Standard Solar is a national leader in the development, funding, and long-term ownership and management of commercial and community solar assets, with 16 years of renewable growth and in-house and tax equity investment capital. The corporation owns and operates more than 160 megawatts of solar across the United States and is recognized as an established financial partner with immediate, significant resources. The headquarters of Standard Solar is in Rockville, Maryland.

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LGCY Power Launches Rooftop Solar Installation Division

LGCY Power | August 16, 2021

LGCY Power (pronounced Legacy Power) today it has launched its first rooftop solar install office in Hurst, Texas, adding an additional business division to the rapidly growing national solar company. LGCY has been involved in more than 40,000 residential solar builds prior to entering the Lonestar State. The Silicon Slopes, Utah-based residential solar provider already has a presence in Texas and will bring more than 30 clean energy jobs to the Hurst location with additional cities and more Texas jobs to be added in the future. "LGCY Power is pleased to be adding clean energy jobs to Texas, and even though we are based in Utah, we picked Texas first to give its citizens the electricity options they need after the power outages this past winter," said Doug Robinson, CEO of LGCY Power. "LGCY was founded to help people become the best versions of themselves, and we believe that includes living in communities that have options for reliable, clean and sustainable energy. We will be expanding throughout Texas and other states in the near future." The Utah-based company was started in 2014 by Doug Robinson & Luke Toone as a customer acquisition company for residential solar, and worked exclusively in that capacity for six years. LGCY has since grown to a presence in 30 states, and selected Texas to launch the installation division. These are often referred to as an EPC, or an engineering, procurement and construction company for solar. "The demand for capable and efficient rooftop solar installation companies continues to grow, and LGCY brings the experience of more than 40,000 residential solar system builds to Texas," said Alex Mortensen, President of LGCY Power and head of the team behind the solar installation division. "The U.S. faces greater demand than ever on its electric grid as evidenced by the many power outages across the nation recently, and solar power not only helps alleviate that demand, but also shows immense promise for sustainability." LGCY also recently added a veteran team to its staff to lead the expansion of its installation arm from its Utah headquarters, including Chris Iglesias as Vice President of Operations; Adam Bohe, Vice President of Supply Chain & Asset Management; and Brett Martin as Director of Field Operations. LGCY has acquired more than 16,000 square feet of office and warehouse space for the expansion at 1516 Central Park Dr., Hurst, TX 76053. ABOUT LGCY POWER LGCY Power is one of the largest privately held solar companies in the United States and has been named to the Inc. 5000, an Emerging Eight company, A Best Place to Work by Glassdoor.com, and is focused on providing an extraordinary solar experience for customers in the United States. By offering a cleaner, cheaper alternative to traditional electricity, LGCY assists residential homeowners by providing solar power at little to no upfront cost. LGCY's focus on technology innovation has spurred its growth.

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