Finance

Construction on a 7 MW solar energy storage facility in Ohio is scheduled to begin this month, with completion expected next February. It will be tied to a PV plant, which will be online by the end of the year. The decision to add storage was made following the introduction of a bill, which saw negative changes to Solar Renewable Energy Credit (SREC) requirements.

A new self-consumption decree states that installations up to 100 kW provide electricity to the grid as a gift. High taxes are spared only partially for systems up to 10 kW and plants on islands off the coast of Spain.

With the aim of “transforming” the energy sector, GE has bundled its LED, solar, energy storage and electric vehicle businesses into an over US$1 billion new startup. Current will utilize GE’s Predix platform to deliver “energy-as-a-service” to a range of customers.

IRENA has released a new report outlining measures for the development of national roadmaps to assist in the transition to renewables in a country’s power grid. Policy makers will need play a central role in successfully transforming power sectors, while stakeholder engagement is crucial.

Bloomberg New Energy Finance reports a 1% year-over-year fall in global solar investment to $43.9 billion, but notes distortion by currency effects.

The solar and wind operator will invest proceeds, which could reach $134 million if an over-allotment option is exercised, in further growth.

Citing “market dislocation”, SunEdison has announced short-term changes to its operating plan. This includes a plan to hold more projects in warehouses instead of moving them into the company’s two yieldcos.

Mercom Capital’s latest quarterly report shows the volume of VC funding and debt financing rising during Q3, while public market financing fell.

Following rumors, SunEdison Inc. has confirmed it will be cutting a significant portion of its global workforce. Around 15% of its 7,300 workers will go. Charges of up to US$40 million will be incurred in Q3 2015 and Q1 2016.

The generating cost comparison between renewable energies and fossil fuels is narrowing, with 2015 recording a “significant shift,” says BNEF. Overall, levelised costs of electricity (LCOEs) for renewable energies are decreasing, while those for fossil fuels are increasing.