The first commercial-scale offshore wind farm in the United States is officially open, a long-awaited moment that helps pave the way for a succession of large wind farms. Danish wind energy developer Ørsted and the utility Eversource built a 12-turbine wind farm called South Fork Wind 35 miles east of Montauk Point, New York.
The climate law that President Biden signed in 2022 has created a large and growing market for companies to buy and sell clean-energy tax credits, new Treasury Department data suggests, creating opportunities for start-ups to raise money for projects like wind farms and solar panel installations. The market also provides new opportunities for large companies and financial firms to make money. Treasury officials reported that more than 500 companies had registered a total of 45,500 new clean-energy projects with the Internal Revenue Service in order to benefit from tax breaks in the 2022 law.
Geothermal energy produced from heat beneath the Earth’s surface could increase twentyfold in the U.S. by 2050 and play a key role in providing a clean alternative to fossil fuel power, according to a new U.S. Department of Energy report. Tapping new sites to harness energy would allow geothermal generation to grow from a current total capacity of roughly 3,700 MW to at least 90,000 MW by 2050. With the development of storage capabilities and other technologies, DOE estimated the capacity could be as high as 300,000 MW.
The U.S. Department of Energy plans to lend Lithium Americas up to $2.26 billion to build Nevada’s Thacker Pass lithium project, one of Washington’s largest investments to date in the mining industry as part of a push to boost domestic production of critical minerals for the energy transition. The loan is a key part of U.S. President Joe Biden’s efforts to reduce dependence on lithium supplies from China, the world’s largest processor of the key battery metal.
Arizona utility Salt River Project (SRP) and renewables developer NextEra Energy Resources have commissioned a 1 GWh battery energy storage system (BESS) in Buckeye, Arizona. It is the largest operational BESS project in Arizona, according to the utility. The Sonoran Solar Energy Center includes a 260 MW solar PV plant.
Arevon Energy has entered into a 15-year energy storage service agreement with San Diego Community Power (SDCP) for the full capacity of the Avocet Energy Storage Project, a 200 MW stand-alone BESS located in Carson, California, that is slated to be operational in 2026. Avocet is Arevon’s second offtake agreement with SDCP.
The U.S. Dept. of Energy’s Loan Programs Office has announced a conditional commitment for an up to $72.8 million partial loan guarantee to finance the development of a solar and long-duration energy storage microgrid on the Tribal lands of the Viejas Band of the Kumeyaay Indians near Alpine, California. The project will provide the Viejas Band with reliable utility-scale renewable energy generation and storage infrastructure through the installation of a 15 MW solar PV system and a 38 MWh battery long-duration energy storage system.
Fresno Unified School District and ForeFront Power have completed a 17.5 MW solar energy and storage portfolio, expected to save the district over $40 million throughout the approximate 20-year lifespan of the system. The districtwide portfolio includes 40 projects with solar canopies and energy storage systems across 31 sites and is slated to generate 23.5 million kWh.
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