QUICK NEWS, February 3: NEW MONEY POWER FOR SUNPOWER; CANADIAN HYDRO ‘BATTERY’ TO STORE U.S. WIND; 12X GROWTH IN 10 YEARS FOR DEMAND RESPONSE TECH
NEW MONEY POWER FOR SUNPOWER SunPower obtains $220M for residential solar lease financing January 28, 2014 (Seeking Alpha) “BofA/Merrill is providing SunPower (SPWR) with $220M in financing to support residential solar lease projects. The deal comes four months after SPWR scored $100M in residential solar project financing from the Digital Federal Credit Union… The amount of financing available for U.S. residential solar installations has been soaring, aided by the creation of new investment options. SolarCity began selling solar asset-backed debt last year, and recently bought a startup that allows retail investors to finance solar projects…SunPower is moving higher amid a broader solar rally. Q4 results arrive on Feb. 12…” click here for more
CANADIAN HYDRO ‘BATTERY’ TO STORE U.S. WIND American wind to be stored in Canada
Susan Kraemer, January 27, 2014 (Wind Energy Update)
"…[A] proposed transmission line that crosses the international border with Canada has the potential to enable the storage of abundant wind power from the US in a giant hydro ‘battery’ in Manitoba…[Minnesota Power and Manitoba Hydro] have inked a Renewable Optimisation Agreement (ROA) under which electricity from excess wind produced in North Dakota can be stored in Manitoba’s hydro reservoir when loads and prices are low, with the potential for selling that power back onto the huge United States Midwest Independent Transmission System Operator (MISO) market at times when needs are high…[The two utilities will build and fund] a new 400 mile 500 kV transmission line, with a capacity of 750 megawatts, connecting northeastern Minnesota with Winnipeg, at a cost of $1bn…” click here for more
12X GROWTH IN 10 YEARS FOR DEMAND RESPONSE TECH Automated Demand Response: OpenADR, Commercial & Industrial ADR, Residential ADR, and DR Management Systems: Global Market Analysis and Forecasts
1Q 2014 (Navigant Research)
“Demand response (DR) is becoming a growing part of the resource base that electric system operators rely on to maintain reliability on the grid…Automated demand response (ADR) describes a system that automates the DR dispatch process, from the grid operator to the DR aggregator (if involved) to the end-use customer – all without any manual intervention…As coal and nuclear plants are retired, clean replacements are needed…[and] as large-scale intermittent renewable resources like wind and solar power fill in this gap, they require backup solutions…ADR is a viable alternative in both the commercial and industrial (C&I) and residential sectors and can provide more reliable and faster responding DR as a bonus. Navigant Research forecasts that global spending on ADR will grow from $13 million in 2014 to more than $185 million in 2023…” click here for more
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