QUICK NEWS, October 11: Fighting Climate Change With A 4-Day Week; Wind Rebuilding; Solar Energy Booming, Solar Companies Going Bust

Fighting Climate Change With A 4-Day Week To fight climate change, institute a four-day workweek

Alex Williams, October 10, 2016 (Quartz)

“…[Three-day weekends might] be one of the easiest steps we could take to radically reduce our environmental impact—and future-proof our economy…A reduction in working hours generally correlates with marked reductions in energy consumption…[If Americans followed European levels of working hours, they] would see an estimated 20% reduction in energy use—and hence in carbon emissions…[I]nstituting a three-day weekend could be the simplest and most elegant way to make our economy more environmentally friendly…[In 2007, Utah extended hours on Monday to Thursday and eliminated] Fridays…In its first ten months, the move saved the state at least $1.8 million (£1.36 million) in energy costs…[But] Utah abandoned the experiment in 2011 after residents complained they were unable to access services on Fridays…[The change has to be accompanied by a shift in our expectations but the] key to capturing the benefits of automation without drastic social dislocation depends in part on developing] an extended weekend, together with a universal basic income…” click here for more

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Wind Rebuilding U.S. Tax Credit Powers Wind-Farm Upgrades; Wind-power producers rush to renovate existing facilities in boon for turbine manufacturers

Rebecca Smith, October 7, 2016 (Wall Street Journal)

“…[Backed by the federal commit to grow the U.S. wind industry, wind producers and turbine makers are repowering existing wind farms…Upgrading wind farms makes sense for wind producers because modern turbines generate far more electricity than those built two or three decades ago. That means some existing wind farms will get overhauled to generate more renewable power, while others will produce the same amount of electricity but with fewer turbines…Renovating an existing wind farm is also often simpler than building a new one—they are already connected to transmission lines and have zoning approvals—so the projects often make better financial sense than starting from scratch…The market for refurbished capacity [also] represents an enormous opportunity for turbine manufacturers…Existing facilities qualify for the [federal production tax credit] if refurbished enough to satisfy IRS rules, which require investments to equal 80% of the market value of the facility being replaced…[One analyst] estimated that 15% of the U.S. installed base of 75,000 megawatts of wind capacity is ripe for retrofits…” click here for more

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Solar Energy Booming, Solar Companies Going Bust The Solar Energy Paradox: Why Solar Is Booming and Companies Are Going Out of Business; Why are solar companies going out of business as the industry grows? The explanation is fairly simple, and it may continue to happen over and over again.

Travis Hoium, October 7, 2016 (The Motley Fool)

“There may not be a business with a higher potential than the solar industry has today…[T]he solar industry is growing and cutting costs, leading to an even bigger market. By 2020, the solar industry is projected to install nearly 100 GW of solar annually, which would be enough to power 16.4 million homes…[Yet] solar companies continue to struggle -- and even go out of business. In just over a year, First Solar, SunPower, and SolarCity have seen their stocks plunge, and SunEdison has filed for the biggest U.S. bankruptcy of the year…[As companies build manufacturing plants (usually with borrowed money), the falling cost of panels drives them out of business while solar developers] use lower panel prices to be more competitive…Solar developers are effectively bankrupting themselves by getting big eyes when it comes to growth, and then dueling each other…With solar panel prices down 20%-25% in the last few months, and the cost of financing rising for some developers, we'll likely see more solar companies go out of business in the next two years. Whether or not that leads to a more sustainable industry or not -- only time will tell…” click here for more

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