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☆ Rapid renewable energy growth leads FBI to warn hackers will hit new, vulnerable power supply
▼ + stars: | 2024-07-29 | by ( Michelle Castillo | ) www.cnbc.com time to read: +6 min

Government incentives, including the Inflation Reduction Act, have encouraged individuals and private ownership groups to invest in clean energy systems. The renewable energy industry's rapid expansion in the U.S. in some cases is occurring without traditional utility protocols and regulations. The boom in renewable energy has also led manufacturers of products and services to ramp up their offerings. Inverters connected to the internet, in particular, could be controlled by hackers to reduce output or overheat home energy systems. Other major players in the U.S. utilities and renewable energy sector, including Next Era Energy, Constellation, Enphase Energy, First Solar and Sunrun, did not respond to requests for comment.

Persons: Jim Hempstead, SEIA, Bheshaj Krishnappa, Freddie Mac, Moody's, Jim Guinn Organizations: FBI, U.S . Energy Information Administration, Metropolitan Washington Council, Governments, Department of Defense, U.S ., Solar Energy Industries Association, Department of Energy Solar Energy Technologies Office, Constellation Energy, Corporation, cybersecurity, Cybersecurity, GE Vernova, Constellation, Enphase Energy Locations: U.S, California , Utah, Wyoming, United States, China, Russia, Iran, cyberattacks

☆ Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations
▼ + stars: | 2024-04-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry. The other six parties to the petition are Convalt Energy, Meyer Burger, Mission Solar, Qcells, REC Silicon and Swift Solar. They are requesting that the Commerce Department impose tariffs on solar cell imports from the four countries as a remedy. "This case is bad news for clean energy jobs and American solar manufacturing," Array CEO Kevin Hostetler said in a statement Wednesday. The ITC and Commerce Department investigations will take about 12 months to conclude, Brightbill said.

Persons: Meyer Burger, Tim Brightbill, Joe Biden, Brightbill, Kevin Hostetler, Janet Yellen, Biden Organizations: U.S, Convalt Energy, International Trade Commission, Commerce, ITC, Initiative, Commerce Department, Solar Energy Industries Association, American Clean Power Association, Advanced Energy, American Council, Renewable Energy, Technologies, International Energy Agency, IEA, CNBC Locations: Zhangye city, Gansu province, China, Cambodia, Malaysia, Thailand, Vietnam, U.S, The U.S, Beijing's

☆ Why banks and consumer groups have become unlikely allies
▼ + stars: | 2024-01-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. JPMorgan chief Jamie Dimon previously noted that this would dampen economic expansion, as banks may pull back on new lending. Separate groups that rely on bank investments have also called for the proposal's revision. The National Association of Manufacturers expressed worry that tighter requirements would mean less capital availability to virtually every industrial sector, especially smaller manufacturers that have few options for financing. Meanwhile, the American Council on Renewable Energy and the Solar Energy Industries Association warned that tighter capital requirements would make it expensive for banks to finance green energy projects through tax equity incentives, slowing the clean energy transition.

Persons: —, Banks, Jamie Dimon, Michelle Bowman Organizations: Service, Business, JPMorgan, National Association of Manufacturers, American Council, Renewable Energy, Solar Energy Industries Association Locations: Basel

☆ One country dominated clean energy growth this year, and it isn't the US, UK, or Germany. It's China, by a landslide.
▼ + stars: | 2023-12-27 | by ( Associated Press | ) www.businessinsider.com time to read: +11 min

In the United States, California continues to have the most solar energy, followed by Texas, Florida, North Carolina, and Arizona. China was one of the few growing markets this year for wind, the Global Wind Energy Council said. Faster permitting and other improvements in key markets such as Germany and India also helped add more wind energy. The top three markets this year are still China, the United States, and Germany for wind energy produced on land, and China, the United Kingdom, and Germany for offshore. The analysts are predicting that the global industry will rebound next year and make nearly 12% more wind energy available worldwide.

Persons: Mohammed bin Rashid Al Maktoum, Joshua A, Bickel, it's, Michael Taylor, IRENA, Karim Shahi, Rafiq Maqbool, Daniel Bresette, Bresette, Abigail Ross Hopper, Wood, Wood Mackenzie, Julia Nikhinson Construction, John Hensley, Seth Wenig, Hau Dinh, Evan Hartley, Paul Braun, John Eichberger, Daan Walter Organizations: Service, International Energy Agency, Business, IEA, United Arab Emirates, Climate, AP, International Renewable Energy Agency, Arizona . Workers, Energy Limited's, Energy, Environmental, Energy Study Institute, Solar Energy Industries Association, Global Energy Monitor, Wind Energy, Clean Power, Workers, Atlas Public, Benchmark Mineral Intelligence, Benchmark, University of Illinois, Panasonic, Toyota, Health, General Motors Co, LG Energy, Transportation Energy Institute, Rocky Mountain Institute Locations: Germany, Spain, Mohammed, Dubai, United, Bickel China, Europe, United States , California, Texas , Florida, North Carolina, Arizona, Karim, Khavda, Bhuj, India, Pakistan, Gujarat, China, Wood Mackenzie, Montauk Point , New York, Asia, United States, State, New London, Conn, United Kingdom, Hai Phong, Vietnam, Kansas, Ohio

☆ Millions of Americans will soon be able to turn their roofs into a lucrative side hustle
▼ + stars: | 2023-12-07 | by ( Kartik Menon | ) www.businessinsider.com time to read: +11 min

People on the traditional grid could see lower costs, greater grid reliability, and less volatile energy prices. And the rate of residential installation is booming: A record 700,000 homeowners installed arrays in 2022, according to the trade group Solar Energy Industries Association. Henglein and Steets/GettyAnother option for homeowners is peer-to-peer energy trading. Users buy and sell electricity with any counterparty, whether it's a neighbor or the broader electricity market. There are, of course, concerns about the reliability of solar energy.

Persons: Localvolts, Kartik Menon, Goldman Sachs Organizations: Business Insider's, Solar Energy Industries Association, Solar Investment Tax, US Department of Energy, Goldman Locations: Localvolts, editorial.standards@insider.com, California , Texas, Florida, California, Arcadia, Washington, DC, Australia, Texas

☆ Insight: US solar panel manufacturing boom threatened by cheap imports
▼ + stars: | 2023-11-03 | by ( Nichola Groom | ) www.reuters.com time to read: +7 min

[1/5] Solar panels from SunPower are installed on residential buildings at a model home display in the Eureka Grove neighborhood of Granite Bay, California, U.S., October 5, 2021. But global solar panel prices have collapsed due to a wave of new Asian production capacity in recent months, leading many in the U.S. solar industry to worry many of these proposed factories may be uneconomical. U.S. officials have repeatedly warned that over-reliance on Chinese clean energy technology could pose a security risk similar to Europe's historical dependence on Russian natural gas. A White House spokesperson did not respond to questions about recent market challenges facing domestic solar manufacturers, but said Biden's policies had generated a huge wave of investment and were revitalizing American manufacturing. Mike Carr, executive director of the Solar Energy Manufacturers for America trade group, said factories could be delayed, extending U.S. dependence on China.

Persons: Nathan Frandino, Joe Biden’s, ”, Edurne Zoco, Wood Mackenzie, Mike Carr, ” Carr, Brian Lynch, Jekyll, Hyde, Lynch, Danny O'Brien, Meyer Burger, Hari Achuthan, Richard Valdmanis, David Gregorio Our Organizations: REUTERS, P, U.S . International Trade Commission, Companies, Reuters, Energy, Solar Energy Manufacturers, America, Insights, U.S . Commerce Department, Solar Energy Industries Association, Convalt Energy, Treasury Department, Commerce Department, Thomson Locations: Eureka Grove, Granite Bay , California, U.S, Europe, China, United States, Malaysia, Thailand, Cambodia, Vietnam, India, Mexico, Hanwha, Colorado, Asia, New York, Maine

That's almost 40% of U.S. solar panel capacity, according to figures from the Solar Energy Industries Association. Political Cartoons View All 1211 ImagesIndustry jitters about a flood of cheap solar panels from overseas show how dependent on federal policy the solar industry remains. Even with that boost, solar industry leaders warn, factories will struggle to compete with a new spike in cheap Asian imports. They're again urging federal officials to investigate whether solar panels are being dumped at unfairly low prices. Politics envelops the solar industry.

Persons: That's, Qcells, “, Scott Moskowitz, Joe Biden’s, Donald Trump, They're, Mike Carr, Carr, Moskowitz, Kamala Harris, Brian Kemp, Democratic U.S . Sen, Jon Ossoff, ” Kemp, Ossoff, Georgia Democratic Sen, Raphael Warnock, ” Ossoff Organizations: Hanwha, Solar Energy Industries Association, Associated Press, Republican, U.S, Solar Energy Manufacturers, America Coalition, Qcells, Republican Gov, Democratic U.S ., Georgia Democratic Locations: Georgia, United States, Dalton, U.S, Asia, Cartersville, Washington, China, Taiwan . U.S, OPEC

☆ At 30%, Solar Panel Tax Credits Are at a High Point for Now
▼ + stars: | 2023-08-25 | by ( Ann Carrns | ) www.nytimes.com time to read: +2 min

Some states offer their own tax incentives, and utilities may offer rebates for installing solar. In some cases, rebates may affect the size of the federal credit, so consult a tax professional for help calculating your potential benefit, Ms. Walker said. Some solar contractors also do roofs or work closely with roofing companies, so you may be able to economize by having them done at the same time, she said. Some solar contractors offer the option to lease the system rather than buy it, but in that case you won’t own it — so you don’t qualify for the tax credit, Ms. Walker said. Like any home-improvement project, solar installations may attract disreputable contractors, said Melanie McGovern, a spokeswoman for the International Association of Better Business Bureaus.

Persons: Walker, . Jones, Albertus, Aggarwal, Melanie McGovern, McGovern, “ Organizations: Solar Energy Industries Association, North American Board of Certified Energy, International Association of Better Business

☆ EV battery imports face scrutiny under US law on Chinese forced labor
▼ + stars: | 2023-08-17 | by ( Nichola Groom | ) www.reuters.com time to read: +6 min

More than a year of enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) has already stymied development of solar energy projects as detained panel shipments languish in U.S. warehouses. When shipments are detained, CBP provides the importer with a list of examples of products from previous reviews and the kind of documentation required to prove they are not made with forced labor, CBP told Reuters. "The timing of these changes does not reflect any specific changes in strategy or operations," a CBP spokesperson said in a statement, adding that the list of eight product types was "not exhaustive." In a report to Congress last month on UFLPA enforcement, CBP listed lithium-ion batteries, tires, "and other automobile components" among the "potential risk areas" it was monitoring. The stepped-up focus on automakers follows a study by Britain's Sheffield Hallam University published in December that said nearly every major automaker has exposure to products made with forced labor in Xinjiang.

Persons: Janet Yellen, Mark Schiefelbein, Dan Solomon, Chevalier, Solomon, Britain's, Ron Wyden, Wyden, we've, Tesla, Brandon Daniels, Nichola Groom, David Shepardson, Jan Schwartz, Daniel Leussink, Matthew Lewis Organizations: Reuters, U.S . Customs, Border Protection, Beijing, Uyghur, Labor, U.S . Solar Energy Industries Association, Biden, CBP, Miller, Britain's Sheffield Hallam University, U.S, Senate, Benz, Volkswagen, Friedrichshafen AG, Bosch, General Motors, Honda, Toyota, Continental AG, Thomson Locations: United States, Diaoyutai, Beijing, China, Xinjiang, U.S, Detroit, UFLPA, Los Angeles, Washington, Hamburg, Tokyo

The region produces roughly a third of both the world’s polysilicon and its metallurgical-grade silicon, the material from which polysilicon is made. As a result, many firms have promised to scrutinize their supply chains, and several have set up factories in the United States or Southeast Asia to supply Western markets. The Solar Energy Industries Association, the industry’s biggest trade association, has been calling on companies to shift their supply chains and cut ties with Xinjiang. More than 340 companies have signed a pledge to keep their supply chains free of forced labor. Some Chinese companies, like LONGi Solar and JA Solar, have clear ties to suppliers operating in Xinjiang, the report said.

Persons: China —, Murphy Organizations: Solar Energy Industries Association Locations: Xinjiang, United States, Southeast Asia, China, Europe

Solar investment could reach a turning point in 2023, and some stocks are well-positioned to benefit from the boom. In the U.S., the Inflation Reduction Act is expected to lead to $600 billion in new investment in solar technology, according to the Solar Energy Industries Association. More than 62% of analysts are bullish on the home solar energy company. ReNew Energy's average price target suggests shares rallying 47% in the coming months. The residential solar energy provider could see shares surge almost 90%, according to its average price target.

Persons: Michael Grubb, Grubb, Morgan Stanley Organizations: International Energy Agency, University College London, Bank, Development, Solar Energy Industries Association, CNBC Pro, Nasdaq, York Stock Exchange, Energy, Energy Global, Sunnova Energy Locations: U.S, India

☆ US solar power installations soar in Q1 on easing panel import gridlock
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File PhotoJune 8 (Reuters) - U.S. solar energy installations soared 47% in the first quarter, according to an industry report published on Thursday, as easing panel supplies alleviated industry gridlock and allowed many stalled big projects to be completed and connected to the grid. The solar industry had its best first quarter ever, installing 6.1 gigawatts (GW), an analysis by research firm Wood Mackenzie and the Solar Energy Industries Association (SEIA) trade group found. As a result of the strong quarter, SEIA raised its forecast for the year slightly to 29 GW from 28.4 GW. The report said 12 GW of solar modules were imported in the first quarter compared with 29 GW in all of 2022. The industry, however, is seeing a slowdown in many states due to economic uncertainty, SEIA said, and residential solar installations are only expected to rise 8% this year.

Persons: Mike Blake, Wood Mackenzie, SEIA, Joe Biden's, Nichola, Marguerita Choy Organizations: Hanover Olympic, REUTERS, Solar Energy Industries Association, Homeowners, Thomson Locations: Hanover, Los Angeles , California, U.S, Florida, California

☆ The homeowner basics of financing solar power for residential real estate
▼ + stars: | 2023-05-21 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +11 min

There are a host of complicated issues in the solar market, including some contentious politics. Last year, the growth of residential solar in the U.S. boomed. It won't repeat that in 2023, but will remain a large part of the solar market. Ohio, for example, has a state program that offers a reduced rate on a solar loan with certain lenders. GoodLeap (26% of the residential solar market) was No.

☆ Biden vetoes legislation to block solar panel tariffs waivers
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

May 16 (Reuters) - President Joe Biden said on Tuesday he has vetoed legislation passed by the U.S. Congress that would repeal exemptions on American tariffs on imported solar panels from four Southeast Asian nations. Biden said the waivers will create a "bridge" while U.S. manufacturing ramps up enough to supply the domestic projects needed to achieve goals in fighting climate change. Top clean energy trade groups, whose members rely on cheap imports to keep their costs low, support the exemption and praised Biden's veto. Domestic solar manufacturers have said the tariffs are needed now to compete with cheap panels made overseas. Solar Energy Industries Association (SEIA) said the legislation would have eliminated 30,000 jobs in the solar sector by stalling development.

The law is viewed as a watershed for domestic solar manufacturing, which has struggled for years to compete with a flood of cheap imports from China. Since passage of the IRA, companies have announced more than $13 billion in U.S. factory investments, according to the Solar Energy Industries Association (SEIA). According to Treasury's proposed guidelines, the manufactured products in a typical solar energy facility would include modules, trackers and inverters. But solar cells account for about 30% of the costs of the products that make up a solar facility, making them a large piece of the puzzle. The top solar trade group, Solar Energy Industries Association, had proposed that panels assembled in the United States should qualify for the credit regardless of where the cells inside them are produced.

WASHINGTON, May 3 (Reuters) - The U.S. Senate on Wednesday voted to repeal President Joe Biden's suspension of tariffs on solar panels from four Southeast Asian nations, a measure aimed at supporting the small domestic manufacturing industry. Biden has vowed to veto the legislation, which passed the House of Representatives last week. The House resolution that passed the Senate was introduced under the Congressional Review Act (CRA), a law that allows Congress to reverse federal agency rules. Top clean energy trade groups had called on members of Congress to oppose the measure. The Solar Energy Industries Association projected that its passage would result in cancellation of 14% of the industry's planned new capacity this year and the loss of $4.2 billion in investment.

☆ US House to vote on repeal of Biden solar policy
▼ + stars: | 2023-04-28 | by ( Nichola Groom | ) www.reuters.com time to read: +2 min

Companies U.S. House of Representatives FollowApril 28 (Reuters) - The U.S. House of Representatives is expected to vote Friday on whether to repeal President Joe Biden's suspension of tariffs on solar panels from four Southeast Asian nations, a move solar project builders say would stall clean energy development. The bipartisan effort to restore tariffs on solar imports from Malaysia, Cambodia, Thailand and Vietnam is aimed at boosting domestic solar manufacturers who say they cannot compete with cheap products made overseas, primarily by Chinese companies. Panels from the four nations, which host manufacturing facilities owned by Chinese companies, account for about 80% of U.S. supplies. Biden last year waived tariffs on solar products from the four nations as the Commerce Department was considering whether those imports were dodging duties on goods made in China and violating U.S. law. Months later, the department issued a preliminary decision to impose tariffs on solar products Chinese companies make in those countries, that match current tariffs on goods they make in China.

☆ Is this solar panel American? Companies eyeing US subsidy await rules
▼ + stars: | 2023-04-24 | by ( Nichola Groom | ) www.reuters.com time to read: +4 min

[1/2] Solar panels are set up in the solar farm at the University of California, Merced, in Merced, California, U.S. August 17, 2022. Their main question: will solar panels qualify if they are assembled in the United States using components made overseas? In February, top U.S. solar manufacturer First Solar Inc (FSLR.O) said it would delay further expansion decisions until Treasury releases its guidelines. A manufacturing group, Solar Energy Manufacturers for America (SEMA), said both manufacturers and developers want clear rules that will fuel growth. A potential approach could be to allow the bonus credit to apply to domestically available goods, with that standard changing over a set timeline.

☆ US House committee votes to repeal Biden solar panel policy
▼ + stars: | 2023-04-19 | by ( Nichola Groom | ) www.reuters.com time to read: +2 min

[1/3] Solar panels are set up in the solar farm at the University of California, Merced, in Merced, California, U.S. August 17, 2022. Biden suspended tariffs last June as part of a key pillar of his clean energy policy. The resolution passed the House Ways and Means committee 26 to 13. "The Ways and Means Committee just took a hammer to business certainty and American energy independence," Solar Energy Industries Association President Abigail Ross Hopper said in a statement. Months later, Commerce issued a preliminary decision to extend existing tariffs on Chinese solar products to goods from those nations.

☆ US home solar installers brace for slowdown as California reform looms
▼ + stars: | 2023-04-10 | by ( Nichola Groom | ) www.reuters.com time to read: +4 min

California boasts 38% of the nation's residential solar capacity, buttressing the U.S. market's 40% surge in 2022, according to the Solar Energy Industries Association trade group. More than 1.5 million Golden State homes have solar, state data show. They and others have noted a spike in California installations this year as consumers scrambled to get systems connected before the policy change on April 15. California Solar & Storage Association Executive Director Bernadette Del Chiaro called the transition difficult. Residential solar installers are already grappling with higher interest rates that cut into the value of financed systems, and tighter available credit.

☆ U.S. solar installations fell 16% in 2022, but market rebounding -report
▼ + stars: | 2023-03-09 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

Utility-scale solar installations fell by about a third year-over year to 11.8 gigawatts, the lowest since before the COVID-19 pandemic, the report said. The residential segment, meanwhile, rose by 40%, with a record 700,000 homeowners installing rooftop solar in 2022, the report said. The report projects steady growth, averaging 19% a year, until 2027. The greater availability of solar panels is expected to boost installations this year, after projects were slowed by U.S. restrictions on solar panels from China's Xinjiang over concerns about forced labor. Reuters reported this week that U.S. imports of Chinese solar panels are picking up after months of gridlock stemming from the forced labor protection law.

Despite layoff announcements and signs of a slowdown elsewhere in the economy, the labor market for clean energy jobs remains tight. said Abigail Ross Hopper, president of the Solar Energy Industries Association trade group. The Biden Administration has repeatedly promised that new green energy jobs would be well-paying union jobs. Some solar companies have tried to recruit veterans, saying the skills learned in military life translate well to the industry. Utility scale solar developer SOLV Energy, SunPower and Nextracker last year teamed up with nonprofit Solar Energy International to fund a women-only training program for solar installers.

☆ Parking lots are becoming as important as cars in climate change efforts
▼ + stars: | 2022-12-03 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +3 min

The parking lots where EVs recharge are a growing focus of construction efforts linked to climate change and carbon reduction. A law approved in France last month requires that parking lots with 80 or more spaces be covered by solar panels within the next five years. For the biggest parking lots, those with more than 400 spaces, three years has been granted to have at least half of the parking lot's surface area covered by solar. Similar renewable energy design ideas are expected to gain more market share in the U.S. if not necessarily through a federal mandate. The cost to install solar has dropped by more than 60% over the past decade, according to the Solar Energy Industries Association.

☆ U.S. to expand solar panel tariffs after probe finds Chinese evasion
▼ + stars: | 2022-12-02 | by ( Nichola Groom | ) www.reuters.com time to read: +3 min

The announcement was welcomed by Auxin Solar, a small U.S. solar panel maker that requested the Commerce investigation in February. Producers including New East Solar, Hanwha Q CELLS, Jinko Solar (JKS.N) and Boviet Solar were found not to be dodging the tariffs, Commerce said. "The only good news here is that Commerce didn't target all imports from the subject countries," Abigail Ross Hopper, president of solar trade group the Solar Energy Industries Association (SEIA), said in an emailed statement. Buyers of solar panels for both large utility projects and residential rooftops say new tariffs will worsen what is already a difficult market for accessing solar energy equipment. The mere threat of new tariffs on solar imports also contributed to a slowdown in project development this year, the industry has said.

☆ First Solar selects Alabama for new factory as Inflation Reduction Act prompts domestic manufacturing boom
▼ + stars: | 2022-11-16 | by ( Pippa Stevens | ) www.cnbc.com time to read: +2 min

First Solar said Wednesday that it has selected Alabama as the site for its fourth U.S. solar panel manufacturing facility, after the Inflation Reduction Act and its incentives for domestic manufacturing encouraged companies to onshore production. First Solar CEO Mark Widmar previously told CNBC that the Inflation Reduction Act was the key catalyst that led First Solar to choose the U.S. for its latest factory. The U.S. solar industry now stands at around 126.1 GW, which is enough to power 22 million homes, according to the Solar Energy Industries Association. Shares of First Solar hit their highest level since April 2011 on Wednesday after the IRA reignited interest in renewable energy companies. Other solar companies, including SolarEdge and Enphase Energy , have said they are exploring manufacturing in the U.S. following the climate bill.

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