News

Washington, D.C. – At $1.1 trillion in estimated global revenue, advanced energy grew at a rate more than double the global economy last year, according to a market report commissioned by Advanced Energy Economy (AEE). In the United States, the advanced energy market excluding wind energy experienced double-digit growth the last two years – outpacing the economy by a factor of four – while wind energy saw a boom and bust in that two-year period due to inconsistent federal policy.

The co-founders of Opower, Dan Yates & Alex Laskey share the 5 top trends to look out for in utilities this year:

The Solar Foundation released a new report showing a massive growth in jobs in the solar industry in both traditional and US markets. The report also shows that, good policies such as the solar Investment Tax Credit (ITC) and Net Energy Metering (NEM) are more important than sunshine. California and Arizona remain the top states for solar employment. Read more to find out how other states fared.

GTM Research released a new report on distributed energy storage in the commercial sector. Greentech Media sums up four driving the commercial energy storage market. These include; demand charge reduction for commercial and industrial customers, the effect of the growth of solar power generation on energy storage technology, the frequency of regulations in select markets and, state-level initiatives such as the California Self-Generation Incentive Program. Read more here.  

The world’s largest solar plant, the Ivanpah Solar Electric Generating System has opened in the Mojave Desert on the California-Nevada border. The plant can produce 392 megawatts, enough to power 140,000 homes.

SolarReserve has began the commissioning phase of a Crescent Dunes solar energy project near Tonopah, Nevada.  The 110MW project will generate around 500,000 megawatt hours per year, as a result of the advanced energy storage technology. According to the SolarReserve CEO, Kevin Smith, this is a milestone for both the project and the solar industry. Read more here.

New York Governor Andrew Cuomo announced that Smarter Grid Solutions has won a contract to work with Con Edison to increase the resiliency of electrical grids during a variety of contingencies and emergencies. The project will also support the increased connection of distributed energy resources. Read more  here .

SunPower reports that it recorded huge profits in 2013 and expects to produce even better results this year. The news might be evidence of a turnaround in the solar market and the emergence of home solar roofs as well as new forms of financing in the sector. SunPower also recently raised $220 million fund from Bank of America Merrill Lynch to boost a program that enables homeowners to use solar electricity without paying for the equipment and installation costs. Read more  here .

New York has opened the largest green bank in the nation - New York Green Bank. The bank is aimed at stimulating private sector financing and accelerating the transition to a more effective clean energy system.

“We at Advanced Energy Economy extend our congratulations to Senator Ron Wyden as he becomes chairman of the Senate Committee on Finance,” said Malcolm Woolf, Senior Vice President of Policy and Government Affairs for AEE. “Senator Wyden has been a forward-looking thinker and an active supporter of advanced energy solutions throughout his career. We look forward to working with him and the committee in moving toward an energy tax structure that takes a targeted, technology-neutral approach to provide stability and certainty for the business community for the long term, and restores recently expired advanced energy tax credits for business stability and certainty in the short term.