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by Paul Gipe

Pacific Gas & Electric (PG&E), one of California’s major electric utilities, shut down its 1,122 MW Unit #1 at its Diablo Canyon nuclear plant last week just as the state prepared for a serious heat wave.

The news sent power prices higher on the wholesale exchange and required the state to burn more fossil fuels in thermal generation to make up for the lost power.

There are two units at the site, the second unit remained in service.

The plant’s outage couldn’t have come at a worse time both for the state and for PG&E. California’s is besieged with a severe heat wave, pushing up demand for air conditioning. Meanwhile the utility is asking for a controversial extension of its operating license for both nuclear units.

The plant may well be off an entire week, returning to service after the heat wave breaks.

Whatever happens with the plants outage, PG&E loses. If a power emergency is called, it becomes clear that nuclear is not dependable during a crisis. If no emergency is called, then it is equally clear that the reactor is not needed.

For the moment, the state is meeting its electrical needs and there have been no calls for extraordinary conservation measures.

News of the plant’s outage came to the renewables industry when French analyst, Bernard Chabot, asked California colleagues why nuclear generation had fallen so dramatically prior to the run up in demand. Chabot noted that nuclear generation had fallen by half, and thermal generation soared as the heat wave began.

Chabot had previously analyzed the nuclear industry’s performance for Renewables International in Nuclear – how big is it?

Based on experience in France during the killer heat wave of 2003, Chabot has described nuclear as “intermittent and unpredictable” for its unscheduled outages when most needed. In contrast, he notes that renewable sources of energy are “variable and predictable”. That is, generation from wind and solar resources do vary, but they vary in a predictable manner. Chabot’s assessment turns on its head the oft-repeated charge that wind and solar energy are intermittent and, hence, unreliable.

During the 2003 heat wave in Europe, several French reactors had to be taken off line because the temperature of their cooling water reached regulatory limits. Similarly, during the brutal European cold spell in early 2012, several French reactors were again out of service when most needed. France, subsequently imported electricity from neighboring countries, including Germany, to make up the difference.

The outage at PG&E’s Diablo Canyon Unit #1 during the present heat wave on the heals of the decision to permanently close two reactors at the San Onofre Nuclear Generating Station by Southern California Edison is certain to re-energize opponents of nuclear power in the Golden State.

Reuters: California power prices up on heat wave, reactor shutdown

Reuters: PG&E shuts California Diablo Canyon 1 reactor

“Reliable” Nuclear Unreliable Afterall Even in France

This feed-in tariff news update is sponsored by the , and the David Blittersdorf Family Foundation in cooperation with the Institute for Local Self-Reliance. The views expressed are those of Paul Gipe and are not necessarily those of the sponsors.

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Clean Energy Learns to Compete

Saturday, May 18th, 2013

LONDON — Europe used to be nirvana for companies in the clean-energy business, but in the past couple of years it has become a much tougher place. With economies anemic, electricity demand is down; and, not surprisingly, once-generous subsidies that encouraged installing swaths of solar collectors in sun-poor Germany or wind farms in relatively calm areas of France are either being reduced or look as if they could be.

But for some people and companies, the harsher environment is fostering a tough-minded approach that may be healthy for the effort in the years ahead to curb the greenhouse gases that are blamed for global warming.

Europe’s struggles, for instance, pushed Enel Green Power, one of the world’s largest electricity generators from renewable sources like wind and solar, to explore markets like Brazil, Chile and Mexico, that may turn out to be a lot more promising than Europe.

The bulk of Enel Green Power’s investments used to be in Europe, especially in Italy, its home, and Portugal and Spain. Now the company is mostly putting its new capital into emerging markets.

It’s a no-brainer. In many emerging economies, demand for power is surging. These countries want to harness power sources like wind or solar — if only so that they can conserve their oil and gas for exports.

Contrary to the practice in much of Europe, where subsidies are used as a lure for renewables projects, developing countries like Brazil often award contracts to build new power capacity through competitions that sometimes pit clean energy against fossil fuels like natural gas and diesel. For instance, Enel Green Power recently won wind power deals in Brazil in bake-offs that included proposals for natural gas-fired stations.

“There was a competitive approach to renewables that we liked a lot,” said Francesco Starace, the company’s chief executive.

Mr. Starace especially likes long-term deals like the ones he has worked out in Mexico with Nissan and Nestlé to build wind farms to supply factories with power. He hopes to replicate this sort of arrangement across emerging markets, including east Africa. These private, one-on-one arrangements are more sustainable, he figures.

“You don’t run the risk of a regulator or a state coming back at you and saying, ‘Guys, the good days are over, now we have to talk about reducing this and that,”’ he said.

Tom Murley, who runs two funds with more than $1 billion in renewable energy investments at HgCapital, a private equity firm based in London, takes a similar approach but closer to his home base.

His great enthusiasm at the moment is building wind farms in Sweden anchored by a large €180 million, or $235 million, array north of Stockholm called Havsnäs that opened in 2010. Mr. Murley likes Sweden because it has very windy sites that mean his wind turbines spin faster and more often than those elsewhere, producing more electricity to help pay off their construction costs.

He also likes Sweden’s low-subsidy regime, which is less tempting for a regulator to cut.

“The closer you are to the wholesale price of power, the less you are at risk,” he said. He is also investing in onshore wind projects in Ireland, where the operating environment resembles that of Sweden.

Mr. Murley avoids offshore wind, which requires huge subsidies to make economic sense. He is also veering away from solar projects at the moment for similar reasons. Spain, where he made a large earlier commitment to solar, has cut its subsidies, sharply reducing returns and leading to lawsuits from operators, including HgCapital.

The goal of the renewables business, Mr. Murley said, should be to be competitive eventually on costs with other energy sources and not to rely on subsidies. He also believes in building businesses like his clusters of Swedish wind farms that have the scale to engage a team of managers and the clout to cut better deals with suppliers. His organization tries to buy turbines and other equipment that are reliable rather than cheap and does not skimp on spending money on maintenance.

Renewable energy, he said, “should be run like any other manufacturing business; it is best to be a low-cost producer.”

Both approaches seem to be working. Enel Green Power, which is 68 percent owned by Enel, the big Italian utility, has seen returns through stock appreciation and dividend of about 26 percent over the past year. The stock price had plummeted earlier, along with that of many other renewables companies.

As a private organization, Mr. Murley’s company has returns that are harder to divine, but he says he has sold projects, including a British wind farm business, representing about one-third of the investments by his first €300 million fund for about €225 million.

And both organizations are still investing. Enel Green Power in particular plans to spend €6.1 billion over the next four years. That is good news at a time when carbon dioxide in the atmosphere has reached the highest levels in millions of years.

Sounding the alarm about greenhouse gases and global warming is fine, but money is required to do something about the problem. And it is not likely to be forthcoming without competitive returns.

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World passes 100 GW installed PV capacity mark

Monday, February 11th, 2013

World passes 100 GW installed PV capacity mark

11. February 2013 | Applications & Installations, Global PV markets, Industry & Suppliers, Markets & Trends, Top News, 300 GW | By:  Max Hall

Behind the headline news from the European Photovoltaic Industry Association (EPIA) that the world has passed the 100 GW mark in cumulative installed photovoltaic capacity, is the ongoing story of a shift away from Europe.

A German solar photovoltaic installation.

Germany was still the world leader in photovoltaic installations in 2012.

solarhybrid AG

With between 30 and 32 GW added globally in 2012 – roughly the same figure as was added in the 2011 boom year – Europe saw just 13 GW of newly installed photovoltaic added, down from 23 GW.

The fact annual installed capacity failed to grow to any significant extent is indicative of the troubles associated with a global oversupply of polysilicon and the trade disputes between China and the U.S., and Europe, but amid the gloom, Germany was still a world leader with 7.6 GW of solar capacity added and Italy was still the world’s third largest market, with 3.3 GW.

China installed between 3.5 and 4.5 GW – EPIA expects to announce final figures in its annual report in May – to come in second behind Germany, with the U.S. fourth with 3.2 GW, Japan fifth with 2.5 GW and France sixth with 1.2 GW.

“The photovoltaic industry clearly faces challenges but the results of 2012 show there is a strong global market for our technology. Even in tough economic times and despite growing regulatory uncertainty, we have nearly managed to repeat the record year of 2011,” said EPIA President Winfried Hoffmann.

He added, “The key going forward will be to address these new market challenges and continue policies that help PV technology to grow sustainably, continuing its evolution to a mainstream electricity source.”

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SAN FRANCISCO, Jan 15, 2013 – A study released today by the Vote Solar Initiative finds that net-metered rooftop solar will provide more than $92 million in annual benefits to  ratepayers of California’s three investor-owned utilities.  Net metering is a program that provides rooftop solar customers with utility bill credits for the surplus clean energy that their solar systems feed onto the electric grid. Net metering has been a key driver of the rapid expansion of solar across California’s rooftops, with two-thirds of home solar installations now occurring in low and median income neighborhoods, according to a July 2012 California Solar Initiative report.

The study comes as the state’s investor-owned utilities– Pacific Gas & Electric, Southern California Edison, and San Diego Gas & Electric– increasingly criticize net metering, which reduces their ability to justify the capital investment infrastructure projects that earn them a guaranteed profit.

The study was commissioned by the Vote Solar Initiative and was authored by consultant and former California Public Utilities Commission advisor Tom Beach of Crossborder Energy. Using a CPUC-approved economic model and data from solar customers, the study assesses the overall impacts of net metering to ratepayers in territories covered by Pacific Gas & Electric, Southern California Edison, and San Diego Gas & Electric.

It finds that the financial benefits of net metered power outweigh the costs, with a total net benefit value of more than $92 million annually by the time the state’s net metering program is fully subscribed. Benefits include: savings on expensive and polluting conventional power; reduced investments in transmission and distribution infrastructure; reduced electricity lost during transportation over power lines, as net metered solar’s surplus energy is sent to the grid locally; and savings on the cost of meeting carbon reduction and renewable energy requirements.

“When someone decides to put solar panels on their roof, they not only generate clean power, but also reduce strain on the electric grid while offering financial benefits to all ratepayers,” said Adam Browning, Executive Director of The Vote Solar Initiative. “We’ve got a long way to go in revamping an antiquated energy grid and growing California’s clean economy, and net metering is critical to those efforts.”

In addition to the bill-saving ratepayer benefits outlined in the study, solar provides environmental, public health and economic benefits. Thanks to policies like net metering, California is home to a fast-maturing solar industry, which now employs over 43,000 Californians and has attracted over $10 billion in private investment.

“It’s crystal clear that the way we produce and consume electricity needs to evolve,” said Daniel Kammen, University of California Berkeley Distinguished Professor in the Energy and Resources Group (ERG), and Professor of Public Policy in the Goldman School of Public Policy. “The good news is that net metering is doing what it was designed to do—accelerating solar adoption while reducing our dependence on dangerous fossil fuels and kick-starting one of the most promising job-creating industries of the 21st Century.  Solar produces energy at the times of highest cost to the utilities, so with the right market incentives, it is a simple ‘win-win-win’ for ratepayers, utilities, and the environment.”

Solar adoption has helped school districts and other public agencies survive steep budget cuts, with savings from solar installations freeing up funds to retain teachers, educational programs, and important government services. Over the next 30 years, schools and public agencies will save more than $2.5 billion on energy bills via net-metered solar systems.

“Bill savings from solar projects coupled with efficiency are important at a time when schools have been forced to cut budgets and grow classroom sizes.  Net metering helps taxpayer-funded institutions operate more efficiently by allowing schools to use these utility savings for other purposes such as books, supplies and teachers,” said Anna Ferrera, Executive Director of the School Energy Coalition.  “Not to mention the added benefit of having our students witness the clean and natural resources that can power their classrooms and computers.”

A link to the full Crossborder Energy study and a Vote Solar summary fact sheet with infographics is available here

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CASE Statement on ITC Critical Circumstances Decision

Wednesday, November 7th, 2012

WASHINGTON, DC – November 7, 2012 – We are pleased that the ITC has determined that there were no critical circumstances, and thus no reason to apply the tariffs retroactively. This means that tariffs will not apply to modules made with Chinese cells that were imported into the U.S. during the period of the investigation. As several witnesses testified at the ITC’s hearing in October, those adversely affected by retroactivity would have been small- and medium-sized U.S. solar businesses that functioned as direct importers and were caught in the middle of SolarWorld’s protectionist case.

Now that both Commerce and the ITC have ruled, we will continue to encourage dialogue and negotiation between the U.S. and Chinese governments to seek a constructive resolution. Unilateral tariffs and a trade war in today’s interconnected global marketplace are unnecessary and detrimental to effective and efficient business competition. Going forward, we must avoid a repeat of the SolarWorld saga, as the growth of the solar industry here, in Europe, and around the world is too important to be upended by one company’s self-serving crusade.

About CASE: The Coalition for Affordable Solar Energy (CASE), a coalition of American solar companies representing 97% to 98% of the U.S. solar industry jobs, believes free trade and industry competition are critical to making solar electricity affordable for everyone. CASE is united in its commitment to creating jobs through the growth and development of the American solar industry. For more information about CASE, please visit:

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FERC slams Barclays with $470 million fine

Friday, November 2nd, 2012
By Travis Mitchell

The Federal Energy Regulatory Commission on Wednesday proposed a $470 million fine against British bank Barclays as punishment for allegedly manipulating California energy markets from 2006 to 2008.

The Order also calls for $18 million in fines for four individual Barclays traders involved in the scandal, which FERC called a “highly coordinated and discussed” scheme to manipulate the western U.S. power market over 35 months. Total losses to market participants were pegged at nearly $140 million.

More specifically, the Order outlines that, “Barclays generally began by assembling substantial physical index positions in the opposite direction of its fixed-for-floating financial swap positions. Barclays flattened those physical index positions in the next-day fixed-price physical markets in a manner designed to move the daily index settlement up if it was buying and down if it was selling.”

The bank has 30 days to defend itself against the accusations and the penalty. If the penalty holds, it’s another huge financial blow for the bank, which was just recently fined $450 million for its involvement in the Libor interest rate setting scandal.

In a statement released Thursday, Barclays admitted no wrongdoing.

“We have cooperated fully with the FERC investigation, which relates to trading activity that occurred several years ago. We intend to vigorously defend this matter,” the bank said.

This is the latest push by FERC to crack down on energy market manipulation in California. Back in September the Commission launched an investigation into allegations that JPMorgan skimmed $80 million off inflated profits in the state. FERC has taken similar action against Deutsche Bank.


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by SI Staff

Solar power and renewable energy made cameo appearances at the third and final debate between President Barack Obama and Republican candidate Mitt Romney.

As was the case at early debates, both candidates professed their commitment to U.S. energy independence and the use of renewable energy. However, they continued to disagree about the appropriate role of government investment in renewable energy technologies.

When asked about the future role of the U.S. on the global stage, Obama called for the continued development of both domestic oil and gas and “clean energy technologies that will allow us to cut our exports in half by 2020.”

“We’re going to have North American energy independence,” Romney agreed, in response to the same question. “We’re going to do it by taking full advantage of oil, coal, gas, nuclear and our renewables.”

Although the candidates discussed Chinese trade conflicts, the issue of the solar trade war – and the recent tariffs applied to Chinese solar products by the U.S. Department of Commerce – did not specifically come up.

Obama warned that the U.S. may lose out to China in the renewable energy sector if the country does not prioritize certain investments. “If we’re not making investments in education and basic research, which is not something that the private sector is doing at a sufficient pace right now and has never done, then we will lose the lead in things like clean energy technology,” he said.

On the topic of investments designed to make the U.S. globally competitive, Romney reiterated his support for government-funded basic research, but drew a distinction between these types of investments and support provided to private companies.

“This is not research, Mr. President,” Romney said, criticizing Obama for his administration’s investments in clean energy firms. “These are the government investing in companies, investing in Solyndra. This is a company … Providing funding to universities and think tanks, great. But investing in companies? Absolutely not – that’s the wrong way to go.”

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Solar consolidation: Hit the reset button

Friday, September 14th, 2012

By:  Charles W. Thurston

ndustry analysts were in agreement at the SPI 2012 conference, held on Thursday, that the solar industry is set for major consolidation over the next 1 year to 18 months. “The reset button needs to be hit; but tremendous value will be unlocked by it,” reckoned Arno Harris, CEO of Recurrent Energy.

General solar photovoltaic panels

The solar consolidation period is still not over.

One of a group of panelists considering the potential impact of mergers and acquisitions, Arno characterized the solar industry as being in a peculiar situation of “profitless prosperity” now, so the coming wave of consolidation “should be a welcome thing which we accept as part of the growing pains of an industry that will survive.”

The panelists suggested that while the upstream manufacturing portion of the industry – including photovoltaic module manufacturers – would be hardest hit, consolidation seemed to be just as inevitable downstream for projects and utilities. “It’s going to be a rough consolidation period and for PV panel makers it will be brutal, but at some point we will bottom out and then we will have something akin to Solar 2.0, as we did with Internet 2.0,” said Jesse Pichel, the principle of CleanTech LLC and moderator of the SPI discussion session, referring to the consolidation and subsequent strengthening of the Internet industry.

“I predict a politically-driven consolidation among (upstream) Chinese companies, with more diversified industrial companies acquiring upstream solar manufacturers,” said Angiolo Laviziano, a co-founder and board member of Mainstream Energy Corp.

Peter Xie, president of GCL-Poly Solar Energy Power System Integration, echoed that prediction, narrowing the likely group of solar acquirers in China to state-owned enterprises, which would have the balance sheet strength to restructure the acquired companies, as well as a mandate to save jobs. Such an outcome would not necessarily translate into a rash of new global solar players, however, since “the state-owned companies are behind in the move out of China and into the international markets,” he cautioned. In a more global context, Xie added, “I see a lot of technology companies in talks with larger companies now.”

A union of upstream components manufacturers and U.S. distributors also was noted as likely. “I see opportunistic acquisitions by upstream companies of distributors for more of a guaranteed customer base,” reckoned Laviziano.

The ranks of U.S. solar project developers, which Harris estimated at 700 today, will also see consolidation, he said. “It’s hard to go through all the paces of developing a project today if you only have 10 megawatts under your belt.” One potential set of acquirers for development companies may be financial institutions seeking to enter the market, suggested Laviziano.

Furthermore, within the residential and small commercial rooftop segment of the industry, consolidation is anticipated. “There could be some consolidation of the U.S. residential and commercial lease/PPA market where there is a complementary fit with another type of solar company,” stated Kennedy.

Downstream U.S. consolidation also was broadly predicted by the analysts. Several suggested utilities will be forced to enter the rooftop installation business as they find themselves increasingly competing with solar companies to power homes and big-box businesses. Indeed, Danny Kennedy, founder of Sungevity, said, “The question five years from now may be why solar companies aren’t buying utilities. The tail may yet wag the dog.”

On the other hand, there could be some dis-aggregation within the U.S. residential rooftop segment, said Lavisiano, stating, “There could be dis-aggregation in residential resulting from the door-to-door sales business model, wherein they sell aggressively and know what they can offer.”

The consolidation wave seems imminent, the analysts say, but first-half 2012 merger and acquisition statistics point to a moderate year for deals thus far. According to a recent report by Mercom Capital Group, “There were 14 M&A transactions in Q2 2012 amounting to $325 million with only six of the 14 disclosing transaction amounts. There were no blockbuster M&A deals this quarter. Instead, most were small strategic transactions with a number of them being acquisitions of business divisions for synergistic reasons.”

Mercom also noted that “in some cases, acquisitions were of ‘sick’ companies getting rid of non-strategic businesses and assets. The largest disclosed M&A transaction was the acquisition of Zhejiang Topoint Photovoltaic, a Chinese mono- and polycrystalline maker, for $276 million by Guangxi Beisheng Pharmaceutical in an asset restructuring plan.”

Related News:

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India accuses US of “ruining” domestic PV industry

Monday, August 20th, 2012

20. August 2012 | Applications & Installations, Global PV markets, Industry & Suppliers, Markets & Trends| By:  Becky Beetz

ndia’s Centre for Science and Technology (CSE) has launched a scathing attack on U.S. photovoltaic manufacturers, claiming they are “ruining” India’s domestic photovoltaic manufacturing industry by taking advantage of the US$30 billion Fast Start Finance Fund.

First Solar thin film photovoltaic modules cadmium telluride

First Solar’s thin film modules have been heavily used in indian photovoltaic projects.

First Solar

According to the center’s researchers, which are reviewing the first phase of India’s Jawaharlal Nehru National Solar Mission (JNNSM), 80% of India’s photovoltaic manufacturing capacity is in a state of “forced closure and debt restructuring”, because Indian project developers are placing their equipment orders with U.S. manufacturers.

Currently, the JNNSM requires all crystalline photovoltaic projects to use domestically manufactured products. However, thin film projects may procure their equipment from other regions; a loophole, says the CSE, being exploited by the Export-Import Bank of the United States (Ex-Im Bank) and the Overseas Private Investment Corporation (OPIC).

The center claims they have been offering rates of interest as low as 3% and long repayment schedules of up to 18 years to Indian project developers under the fund – designed to enable developing countries tackle climate change – if they purchase thin film panels from U.S. companies. In comparison, it says Indian banks are offering interest rates of around 14%.

“This has skewed the market completely in favour of thin-film panels imported from US despite the fact that thin-film has lower efficiency when compared to crystalline panels,” says the center in a statement released, adding, “Close to 60 per cent of the panels installed in India are thin-film type even though only 14 per cent of global capacity is thin-film.”

CSE goes on to quote the U.S. Department of State’s report on U.S. Fast start climate financing between 2010 and 2011, which reportedly shows that $248.3 million was awarded by Ex-Im Bank and OPIC for grid-connected photovoltaic plants in India. “The major beneficiaries in this case have been American producers such as First Solar and the now bankrupt Abound Solar,” it says.

Furthermore, the center claims the US is “fudging” its data on fast start finance. “When giving loans as aid, only the difference of the rate of interest between the ‘soft’ loan and a commercial loan is counted as aid. However, in this case, the US has counted the entire loan sum as aid under fast start finance. If a fair counting would have been done, the fast start financing amount shown by the US would be reduced to a fraction,” continues the statement. The U.S. says it has contributed $5.1 billion to the fund to date.

Outwith the fund, Ex-Im announced in July that it had authorized two loans worth US$57.3 million to support the development of 3 photovoltaic power plants in India, which will use First Solar thin film modules.

In a statement announcing the loans, Ex-Im Bank chairman and president, Fred Hochberg said the bank will be supporting India’s green-energy push. “These important transactions will finance the purchase of American products and services and support jobs in our innovative renewable-energy sector.”

Overall, the bank says it has provided $500 million for the financing of solar projects in India. Its goal is to “promote both the bank’s financial products, but also facilitate the purchase of U.S. goods and services.”

Developing countries

In 2009, the Copenhagen Accord agreed to establish Fast Start Finance, a US$30 billion fund contributed to by developed countries for developing countries to support the implementation of climate change measures between 2010 and 2012.

“Fast start financing was supposed to benefit the developing country recipient. Instead, the US has managed to turn it into a game where funds registered as climate funding is given out as loans to projects that promise to buy equipment made in the US thereby benefiting themselves while knocking out the Indian manufacturing competition that doesn’t have the same government backing,” states Chandra Bhushan, CSE’s deputy director general.

Referring to the ongoing U.S.-Sino trade dispute over solar cells, Kushal Yadav, head of CSE’s Renewable Energy team adds, “Interestingly, the US government has put anti-dumping duties on solar equipment imported from China because of the alleged subsidies that China is giving to its solar manufacturers. However, the US is engaging in a similar practice in India by subsidising loans for buying American equipment!”

In the U.S. Department of State’s report, the funding transactions between 2010 and 2011 for India’s solar market include:

  • $719,985 awarded to Astonfield Renewables Private Limited from the U.S. Trade and Development Agency (USTDA) for a feasibility study for 2 photovoltaic plants in India. “The projects will serve as some of the first solar photovoltaic (PV) projects in India deploying U.S. thin film technology.”
  • $14.8 million from OPIC for the development, construction and operation of a 5 MW photovoltaic power generation facility in Gujarat. “The facility investor is a leading solar energy provider from the United States that will use advanced U.S. power generation technology in this plant in India.”
  • A loan totaling $84.3 million from Ex-Im Bank to finance photovoltaic modules and related equipment for the Dahanu Solar project located in the village of Dhursar, in India’s Rajasthan State. “The financing will support the export of thin film, photovoltaic solar modules produced by First Solar.”
  • An Ex-Im authorized a loan of $18.9 million to finance photovoltaic modules and related equipment for the Tatith Solar project located in Gujarat. “The project will utilize polycrystalline solar cells produced by Solarworld Industries America, LP.”
  • A financial guarantee from Ex-Im worth $18 million to finance photovoltaic modules for the Acme solar power plant to be located in Gujarat. “The Acme plant will utilize thin film technology photovoltaic modules supplied by First Solar of Tempe Arizona.”
  • An Ex-Im authorized loan of $15.8 million to finance photovoltaic modules and related equipment for the Azure Solar Plant project located in Rajasthan. “The photovoltaic farm will … consist of thin film technology photovoltaic panels supplied by First Solar of Tempe, Arizona.”
  • An Ex-Im authorized guarantee of $9.2 million to finance thin film, photovoltaic modules and related equipment to Punj Lloyd Solar Power Ltd. of India for a photovoltaic project located in Rajasthan. “The solar modules for the project will be produced by Abound Solar, Inc. at its Colorado facility.”
  • An Ex-Im authorized loan to Universal Solar System of India for $3.7 million to finance a photovoltaic power plant to be located in Gujarat. “The financing will support the sale of electrical inverters supplied by SMA America, LLC, of California as well as solar modules produced by Abound Solar Inc. at its Colorado facility.”
  • $30 million from OPIC for financing the development, implementation and operation of a 120 MW monocrystalline silicon photovoltaic module manufacturing facility located in Hyderabad.

NY signs legislation to boost solar development

Monday, August 20th, 2012

20. August 2012 | Global PV markets, Markets & Trends| By:  Becky Beetz

New York Governor, Andrew M. Cuomo has signed a series of bills, which aim to boost the uptake of solar in the U.S. state. Overall, 3 measures have been introduced: tax credits; sales tax exemptions; and real property tax abatement extensions.

New York skyline

Property tax abatements available to solar energy generating systems in New York City have been extended.


Under the NY-Sun initiative, 3 bills have been signed into law which, says the New York State Energy Research and Development Authority (NYSERDA), will make solar both more affordable and create new jobs.

“NY-Sun calls for the installation in 2012 of twice the customer-sited solar electricity capacity that was added during 2011, and quadruple that amount in 2013,” said NYSERDA in a statement released. While pv magazine has contacted the authority, it has declined to provide any concrete figures to date.

Under the first law, which takes effect immediately, statewide tax credits will be made available for homeowners obtaining solar equipment via a lease program or power purchase agreement of at least 10 years. Overall, a maximum of US$5,000 will be made available over a period of up to 14 years.

As of January 1, 2013, sales tax exemptions for the sale and installation of commercial solar systems equipment will be introduced. Municipalities and cities will also be able to exclude these costs from local sales tax.

Also taking effect from January 1, 2013, is the extension to property tax abatements available to solar energy generating systems in New York City through 2013 and 2014. “This extension will help mitigate the cost of installing solar installations in the City,” continued the statement.

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