NewEnergyNews More: SOLAR GOES A-LIST

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  • Sunday, March 18, 2012

    SOLAR GOES A-LIST

    Big-Name Investment Marks Pivotal New Era For U.S. Solar Projects
    Lori Lovely, 15 March 2012 (Solar Industry)

    "…[A]n influx of investment attached to high-profile names - such as Warren Buffett and Google - is now taking place as the solar sector matures…[I]ncreased level of investment is due…federal tax credit, state solar support programs with set-asides that mandate solar renewable energy credits and more funding support…from the U.S. Department of Energy's (DOE) Solar Energy Technologies Program and the Clean Energy States Alliance…

    "Google Inc., long known as a global technology leader committed to renewable energy, has invested $915 million in clean energy projects since mid-2010…[It is necessary to know government incentives and a long-term view] to get the [return on investment]…[but with] the market for expected energy demand projected to reach $26 trillion by 2030, solar seems a secure investment… PV panel costs…have decreased 70% in the past 18 months…That type of price decline makes the investment compelling, even with the scheduled expiration of the investment tax credit in 2016…"


    click to enlarge

    "…MidAmerican Solar (MidAmerican Energy Holdings' solar business unit), also considers solar power's price reduction to be a key factor in driving new investment…[due in part] to favorable renewable energy policies in Germany and Italy, the largest solar markets, that further fueled a fast-growing European market. (Both countries have since reduced their PV incentives.) Concurrently, the U.S. market doubled. As a result, suppliers ramped up production, and costs of manufacturing solar modules began to drop…

    "…GE continues to expand its clean energy portfolio. In addition to investing $600 million in a 400 MW factory…GE is building a large [23 megawatt] solar farm south of Chicago…[N]ew financing models are also responsible for [GE’s] escalated interest…[and] state-level renewable portfolio standards (RPS) help drive investment activity. Eleven states have added a solar set-aside to their RPS, requiring that solar resources represent a specified percentage…"

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