SolarCity Prices Its IPO But Is It A Solar Company Or A Financial Firm?
SolarCity on Tuesday priced its initial public offering between $13 and $15 a share, going where few companies have dared to go as the market has grown hostile to green tech startups, particularly those in the solar business.
While SolarCity does indeed install photovoltaic panels on residential and commercial rooftops, its business and future success depends on putting together investment funds that finance solar leases for homeowners. Some 90% of SolarCity’s customers opt to rent their solar panels for a monthly fee rather than fork over five figures for a typical photovoltaic arrays.
Read more at Forbes.com
Polar Ice Sheets Melt Faster
Higher temperatures over the past two decades have caused the polar ice sheets to melt at an accelerating rate, contributing to an almost half-inch rise in global sea levels, according to the most comprehensive study done so far.
The new study, published Thursday in the journal Science, estimates that the melting of the ice sheets as a whole has raised global sea levels by 11.1 millimeters (0.43 inch) since 1992. That represents one-fifth of the total sea-level increase recorded in that period. In the 1990s, melting of the polar ice sheets was responsible for about 10% of the global sea-level rise, but now it represents about 30%, the data suggest.
Read more at the Wall Street Journal
Pentagon’s Clean Energy Investment Given Green Light By The Senate
By a vote of 62-37 on Wednesday, the Senate backed an amendment that would delete a provision in the defense bill prohibiting the military from spending money on alternative fuels if the cost exceeded traditional fossil fuels such as coal, natural gas and oil. The Pentagon has opposed the provision that a sharply divided Senate Armed Services Committee added in May.
The Navy and Air Force have pushed to use more biofuels to operate its aircraft and ships, with military leaders suggesting a greater reliance on alternative sources in the next decade to ease dependence on foreign oil.
Read More at the Huffington Post
MEMC WINS CONTRACTS TO SELL 86.5 MEGAWATTS OF SOLAR POWER
SunEdison will design and build the 20 megawatt North Lake I solar plant in western Riverside County and sell the output to Riverside Public Utilities under a 25-year contract, the St. Peters, Missouri-based company said today in a statement. Construction is expected to begin in 2014 and it will start delivering power the following year.
Edison International (EIX)’s Southern California Edison utility also agreed to buy 48 megawatts of power from SunEdison under three contracts that were approved by state regulators Oct. 31, and Sempra Energy’s San Diego Gas & Electric Co. will purchase 18.5 megawatts of electricity.
Read More at Bloomberg.com
Latest posts by Comly Wilson (see all)
- 10 Ways to Improve the Solar Permitting Process - April 24, 2013
- An Overlooked Aspect of Energy Efficiency - April 10, 2013
- Interview with John Cruden, President – Environmental Law Institute - April 9, 2013