Focus
Renewable energy to expand by 50% in next five years
The Guardian – October 21
Global supplies of renewable electricity are growing faster than expected and could expand by 50 percent in the next five years, powered by a resurgence in solar energy. The International Energy Agency (IEA) found that solar, wind, and hydropower projects are rolling out at their fastest rate in four years. Overall, renewable electricity is expected to grow by 1,200 gigawatts in the next five years, the equivalent of the total electricity capacity of the U.S. The report said growing climate ambitions in the European Union and the U.S. played the biggest role in driving the IEA’s forecasts higher, but China will lead the way in rolling out wind and solar energy projects.
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News
Solar PPA prices keep dropping
Solar Industry Magazine - October 21
LevelTen has released its Q3 2019 PPA Pricing Index, which includes U.S. wind and solar power purchase agreement (PPA) price breakdowns during the quarter, as well as developers’ predictions for 2020 prices. In Q3, PPA offer prices rose overall, quarter to quarter. Wind prices increased $1.08/MWh, or 4.4 percent, during the quarter. Annually, they increased 11.2 percent. However, solar prices dropped $0.14/MWh, or 0.5 percent, in Q3, continuing the long-term trend of decreasing prices in the sector. Annually, solar prices dropped 5.4 percent.
With 10% penetration, EVs could shift all residential peak load to night
Utility Dive – October 17
Electric vehicles (EVs) have the potential to act as virtual power plants that can help utilities soak up midday renewable energy and discharge in the evenings to reduce peak load, according to a study from Jackson Associates released Wednesday. The analysis, based on 5,000 Southern California Edison customers’ hourly loads, commuting behavior, and “potential electric vehicle ownership,” concluded that at a 10 percent EV penetration, the batteries could shift the utility’s entire residential peak load to nighttime hours. Over 20 million EVs are expected on U.S. roads by 2030 — a rapid increase from the 1.26 million on the road as of June, according to a Smart Electric Power Alliance report released this month.
Hundreds of mayors urge Congress to extend solar ITC
PV-Tech – October 22
More than 200 mayors across the country have sent a letter urging Congress to pass a five-year extension of the solar Investment Tax Credit (ITC) with a particular focus on creating jobs and drawing investment. The bipartisan group of 231 mayors from 39 states and representing cities both large and small want Congress to pass the Renewable Energy Extension Act (HR 3961/S. 2289), which would result in an extension of the ITC, which is scheduled to start stepping down at the end of 2019. Separately, the energy storage industry is lobbying for a standalone ITC. At present, the ITC only applies to energy storage if it is installed simultaneously with a PV system.
Rio to produce lithium in California, joining electric car battery race
Bloomberg – October 21
Rio Tinto Group is starting pilot production of lithium in California and will consider an expansion to become a major supplier in the U.S. as the world’s biggest miners look to boost their exposure to the electric car battery market. Work to reprocess waste piles from a 90-year-old mining site in Boron has successfully produced lithium carbonate, needed in rechargeable batteries for electric vehicles and consumer technology, Rio announced this Tuesday. Demand for lithium will advance about eight-fold to 2030 as EV adoption increases and the battery sector expands, BloombergNEF said in a July report.
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Projects
ENGIE secures another wind deal with Walmart
North American Windpower - October 22
ENGIE U.S. Wind and Walmart Inc. have signed a deal involving two virtual renewable power purchase agreements to enable the build-out of more than 366 megawatts of wind in different U.S. energy markets, all under a single procurement process. Walmart has a goal of powering 50 percent of its operations with renewable energy by the end of 2025. Under the new agreements, Walmart is purchasing 166 megawatts from ENGIE’s Prairie Hill project in Texas and 200 megawatts from the company's King Plains project in Oklahoma.
Google promises $150M for renewables to green manufacturing footprint
Greentech Media – October 16
Google announced last week that it will spend $150 million on renewable energy projects in “key manufacturing regions” for its products, including Nest, with a goal to encourage $1.5 billion in capital investment for renewables. Because the deals are yet to be negotiated, the technology giant could not confirm whether it would spend the funds through direct investments, power-purchase agreements, or other means. The projects are meant to complement commitments Google made in August, pledging carbon-neutrality for 100 percent of its shipments to and from customers by 2020. The announcement comes on the heels of Google’s plan to invest in 18 deals encompassing 1.6 gigawatts of wind and solar around the world.
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