Solar power information and news

WindFeatured

The U.S. Energy Information Agency (EIA) on Nov. 29 released electric generation statistics through the end of September 2016. Generation from geothermal, solar, and wind energy increased by 24 percent compared with the first nine months of 2015. Non-hydro renewable energy, including biomass, has made up 8.5 percent of U.S. electric generation thus far in 2016.

The U.S. Energy Information Agency (EIA) on Nov. 29 released electric generation statistics through the end of September 2016. Generation from geothermal, solar, and wind energy increased by 24 percent compared with the first nine months of 2015. Non-hydro renewable energy, including biomass, has made up 8.5 percent of U.S. electric generation thus far in 2016.

Tuesday December 15 was a good day for U.S. renewable energy companies. In a landmark deal that could mark the first time the Senate and House democrats and republicans were able to compromise on anything at all, the two parties released an omnibus spending bill that lifts the 40-year U.S. oil export ban and gives a five-year extension of renewable energy tax credits for wind and solar.

Solar Industry Exuberant

The bill extends the Investment Tax Credit (ITC) for solar until 2021. It was originally expected to sunset at the end of 2016, which was forcing developers to rush to finish projects. In a session last week during Renewable Energy World Conference and Expo, Julie Ungerleider of Coronal Group explained that because of the hard stop that the ITC created, solar projects that were not already “fully baked” were unlikely to be able to be built by 2016.  She said material shortages were rampant with the rush to build now.  This extension should relieve some of that pressure.

The ITC will be extended until December 31, 2019 in its current form. After that projects that start construction in 2020 and 2021 will receive 26 percent and 22 percent, respectively. All projects must be completed by 2024 to obtain these elevated ITC rates. For residential solar, a similar tax credit phase-out applies until December 31, 2021, after which the tax credit scheme ends.

Tuesday December 15 was a good day for U.S. renewable energy companies. In a landmark deal that could mark the first time the Senate and House democrats and republicans were able to compromise on anything at all, the two parties released an omnibus spending bill that lifts the 40-year U.S. oil export ban and gives a five-year extension of renewable energy tax credits for wind and solar.

Solar Industry Exuberant

The bill extends the Investment Tax Credit (ITC) for solar until 2021. It was originally expected to sunset at the end of 2016, which was forcing developers to rush to finish projects. In a session last week during Renewable Energy World Conference and Expo, Julie Ungerleider of Coronal Group explained that because of the hard stop that the ITC created, solar projects that were not already “fully baked” were unlikely to be able to be built by 2016.  She said material shortages were rampant with the rush to build now.  This extension should relieve some of that pressure.

The ITC will be extended until December 31, 2019 in its current form. After that projects that start construction in 2020 and 2021 will receive 26 percent and 22 percent, respectively. All projects must be completed by 2024 to obtain these elevated ITC rates. For residential solar, a similar tax credit phase-out applies until December 31, 2021, after which the tax credit scheme ends.

Auctions on Ebay