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Logan Abbott
US Startup To Supply 320 MW Geothermal Energy To Power 350,000 Homes In California: An anonymous reader quotes a report from Interesting Engineering: Fervo Energy has announced the signing of two power purchase agreements (PPAs) totaling 320 MW with Southern California Edison (SCE), one of the nation's largest electric utilities. The two PPAs, signed for 15 years, will provide clean, and affordable power for the equivalent of 350,000 homes across Southern California. The geothermal energy from Fervo will help California transition to a cleaner and more reliable power source. According to Fervo Energy, SCE will purchase the power from its 400 MW Cape Station project currently under construction in southwest Utah. The first 70 MW phase of Fervo Energy's project is expected to be operational by 2026 and the second phase will be operational by 2028, according to a release by the company. Geothermal energy, being a carbon-free and weather-agnostic source, will also prove to be a reliable source for meeting California's power consumption demands. Unlike wind and solar power plants, geothermal energy can be sourced around the clock and on demand to cater to increased energy needs. Earlier in July 2023, Fervo Energy had claimed to achieve "commercial scale" geothermal energy production from its Project Red demonstration site in northern Nevada. [...] For the demo, Fervo had used a horizontal well pair that extended to 3,250 feet (990 m) and reached a temperature of 375 degrees Fahrenheit (191 degrees Celsius). During the test period, Fervo achieved a flow rate of 63 liters per second, sufficient to generate 3.5 MW of electricity. One megawatt of energy can power approximately 750 homes at a time. Data collected during this pilot was used to improve the design for Fervo's next well pair and double the energy output generated. Read more of this story at Slashdot.
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Spencer Frazier
✅ The US initiated antidumping and countervailing duty (AD/CVD) investigations into solar cells and modules being imported from China in 2011, and subsequently expanded tariffs globally in 2018. 🌍 ✅ The solar market in the US could potentially face a supply squeeze due to these trade restrictions, impacting consumers' access to solar panels for their homes. 🏠☀️ ✅ Chinese-funded manufacturers are seeking out global production capacity expansion strategies to navigate these trade restrictions. Despite the intriguing world of international trade restrictions, this article delves into the shifting landscape of the solar industry. As we've discovered, the origin of our much-loved solar panels is evolving due to various trade disputes affecting where and how companies produce their solar merchandise. It all started in 2011 with the United States implementing antidumping and countervailing duty investigations. This expanded to global tariffs in 2018, spurring changes in solar companies' supply chains. The Southeast Asian region became the second-largest manufacturer outside China as companies shifted their production lines. Today, additional research has been initiated, scrutinizing cells and modules from Southeast Asia. What does this mean to the solar industry and potential solar consumers? Some challenges include potential supply squeezes, which will impact availability and price of solar panels. However, manufacturers are seeking to expand production capacities globally, exploring regions outside of China and Southeast Asia. Stay tuned for more updates on this evolving landscape, the future of our solar industry is bright! 🌞 For more information on selling solar virtually across the USA visit www.tstpros.com.
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Chris Hurcombe
Our New – #Business #Energy Market #Report is #live – As Jun24 saw the continuation of increased wholesale price movements across both tracked #gas and #power contracts, similar to the movements seen in April and May – with below-average temperatures for the majority of the month keeping a steady level of heating demand on the system, which would typically be lower at this time of the year. Across the month, we saw day-ahead gas register a 6.8% gain month-on-month to average 81.95p/th. Similarly, front-month contracts registered price increases, up on average by 5.1% when compared to May24, with Jul24 seeing a 5.9% rise to 81.25p/th, and Aug24 growing 4.3% to 82.65 p/th. Gains were supported by restricted gas supply from the Norwegian and UK Continental Shelves acting to tighten system conditions, and as result of continued outages across several large Norwegian gas fields, shorter-dated gas contracts registered gains. Moreover, prices found support from an outage across the Wheatstone LNG processing facility in Australia, which acted to impact global LNG supply levels and lead to increased Asian cargo competition. Longer-term contracts found support from the increased Asian cargo competition as competition for the procurement of LNG grows, however this remains subdued by strong gas storage stocks across Europe. Seasonal gas contracts from Win24 to Win26 were, on average 2.5% higher in Jun24 when compared to May24 – despite some risk removed from these contracts as European gas storage levels remain well stocked. In continuation, more notable price gains across front-month contracts were offset by the notable stockpiles of European gas, which currently sit at 76% at the time of writing – boosting gas supply amid reduced Norwegian output. This trend is anticipated to continue as the summer months progress and temperatures remain elevated – acting to lower gas-for-heating demand. Rising front-month contracts in gas provided a bullish price direction for power to follow – with day-ahead power prices registering a 5.0% gain month-on-month to average £75.58/MWh. Additionally, these gains can also be attributed to tightened system margins following decreased gas supply, an outage across the Hartlepool 1 nuclear reactor, and below-average temperatures. Similarly, both front-month power contracts registered gains, as Jul24 rose 4.3% to £74.32/MWh, and Aug24 grew 3.7% to £73.78/MWh. Moreover, much like its gas counterpart, seasonal power prices saw a collective upwards movement – rising 1.6% on average. Win 24 traded as the premium market, seeing a 3.0% increase to average £88.83/MWh.
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Spencer Frazier
✨ _Unprecedented optimization of battery storage assets is a significant new trend in the solar industry._ ✨ _By 2026, it is estimated that 65 GW of energy storage projects will be needed to pair with renewable energy sources._ ✨ _Habitat Energy’s innovative 'EVOLVE' service employs AI-backed algorithmic forecasting to increase energy storage efficiency and effectiveness._ The significance of battery storage within sustainable energy portfolios is growing and predicted to rise even more, due to the increasing number of regions in the U.S. committing to net zero goals. By 2026, it's expected that 65 GW of energy storage projects will complement renewable energy sources to create an efficient functioning power system. Furthermore, companies like Habitat Energy are setting the trend in optimizing battery storage schemes by leveraging artificial intelligence. Their service, 'EVOLVE', applies AI-backed algorithmic forecasting to enhance the performance of energy storage. It's an innovative approach that is set to streamline and revolutionize the industry. In Texas, solar companies are choosing to tackle the substantial growth in solar capacity by installing energy storage facilities on a grand scale. By 2030, it's predicated that Texas will add up to 8.9 GW/35.6 GWh of storage in the ERCOT region alone. Habitat Energy, in collaboration with UBS Asset Management's Real Estate & Private Markets, is optimizing an impressive 730 MW of battery storage assets. Given these developments and growing reliance on solar power, future energy efficiency is not just a possibility, it's a promise. For more information on selling solar virtually across the USA visit www.tstpros.com.
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Spencer Frazier
✅ The National Renewable Energy Laboratory conducted an insightful study identifying the potential of solar power in Puerto Rico, discovering that five reservoirs alone could host 596 MW of floating solar energy. ✅ The report highlighted other prime locations for solar projects, including brownfields, decommissioned fossil fuel plants, and closed landfills, with a combined technical capacity for 1–2.5 GW of solar power. ✅ Staggering potential remains to be tapped, with Puerto Rico's residential buildings having the capability to produce 20.4 GW-dc of rooftop solar energy, demonstrating how solar power transcends beyond conventional household use. This article is a revelation for sustainable energy practitioners and enthusiasts, notably presented by the National Renewable Energy Laboratory's pioneering study. Exploring the potential for solar power in Puerto Rico, they discovered that reservoirs themselves could host 596 MW worth of floating solar energy! The higher costs would be offset by the efficient energy supply and implications for sustainable living. Additionally, the researchers identified an array of prime spots for solar projects like brownfields, decommissioned fossil fuel plants, and closed landfills. The combined technical potential across these areas ranges from 1-2.5 GW of solar power. What grabs attention the most is the untapped potential that exists within the rooftops of Puerto Rican residents. Residential buildings could potentially generate 20.4 GW-dc of rooftop solar energy, far surpassing the existing 680 MW. This in-depth look at land use and energy planning offers intriguing options for solar companies and environment-conscious individuals. For more information on selling solar virtually across the USA visit www.tstpros.com 🌍☀️
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Spencer Frazier
☑️ Gemini, the colossal residential solar array in Nevada, is up and running, setting a new benchmark for solar initiatives across the nation. 🌞 ☑️ Producing 690 MW of energy with adjacent battery storage, this landmark project not only demonstrates remarkable efficiency but also the immense potential of DC-coupled storage configurations. ☑️ Through ecological sensitivity and social responsibility, the Gemini project has positively influenced the environment and the economy, boosting job creation while ensuring minimal footprint. 🌎💼 It's not every day you come across a sustainable initiative as transformative as the Gemini solar project. Located in the vibrant heart of Nevada, this residential solar array is home to an unprecedented 1.8 million solar panels, promising to fulfill an impressive 10% of the state's peak power demand. The developers, using an intelligent DC-coupled storage configuration, predicted a phenomenal 690 MW energy output, coupled with a 380 MW battery storage, representing a leap in traditional efficiency standards set by regular solar companies. Financing this vibrant vision required heavy investments, and stakeholders responded with enthusiasm, securing $1.9 billion for the project, highlighting their unwavering faith in solar energy's future. But what truly sets Gemini apart is its careful attention to the environment and a commitment to societal development. An extraordinary 20% footprint reduction was achieved, and approximately 1,300 jobs created, injecting around $463 million into Nevada's economy. With this, Gemini becomes more than just another ambitious solar project; it sets the stage for the future of solar energy. For more information on selling solar virtually across the USA visit www.tstpros.com.
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