Solar

Dozens of institutional investors in U.S. renewable energy projects pulled out of the market when the nation’s liquidity reserves dried up late last year. Some left the renewable market sector in search of more lucrative investment opportunities. Others found themselves unable to take advantage of the attractive tax credits because they themselves lacked profits against which to use the credits. The American Recovery and Reinvestment Act of 2009, approved February 13, changed the investor ground rules — again.

Though solar thermal tower technology has been around since the 1970s, to date, only one plant in the world commercially generates electricity: Abengoa Solar’s 11-MW PS10 tower just outside Seville, in Spain’s Andalucía desert has been grid-connected since early 2007. Because the technology relies on heat from solar energy that is reflected by mirror arrays (heliostats) onto a tower-mounted receiver, installations tend to be site-specific, expensive, and high-maintenance.

Renewable energy, though still accounting for a comparatively small portion of overall supply, generates a larger portion of the world’s electricity each year. Combining many of the available solar energy conversion technologies with conventional fossil-fueled technologies could reduce fuel costs while simultaneously helping utilities that are struggling to meet their renewable portfolio goals.

Solar panel prices have taken a 10% tumble since October last year, and they are expected to drop another 15% to 20% this year, owning to an oversupply from the mass of new factories and draining demand in Germany and Spain, where solar incentives were recently cut. In the U.S., the low prices — pushed even lower by the renewed solar tax credits that took effect on Jan. 1 and other incentives — have heightened demand, both on the distributed generation level and at utility scale.

Seventy-five countries from around the world joined a new political agency dedicated to the acceleration of green energy this January, but several notable nations — including the U.S., Canada, Australia, UK, Japan, and China — were not among them.

Declining oil prices, supply issues, and dwindling financing may have battered solar energy in recent months, but the industry seems to have sparred well in the research arena. An assortment of institutions separately announced breakthroughs in their quests to boost the efficiency of solar cells. The technological advancements ranged in approach, from the development of an antireflective coating to the formulation of more efficient solar cell materials, but all point to promising possibilities for the industry.

Following a press briefing this morning, President Barack Obama signed new executive orders intended to spur “swift action” on both U.S. economic recovery and American energy independence.

Many companies are finding that with solar energy, the sky’s the limit. As costs fall and mandates for renewable energy rise, solar energy is becoming an increasingly competitive source of power generation. Far West Rice Mill is a forward-thinking business that is taking advantage of this economic opportunity by powering its operations with a 1-MW photovoltaic system.

Europe has seen tremendous activity in the development of renewable energy as a response to climate change. As a result, some of the most important renewable energy firms operating in the U.S. are based in Denmark, Germany, and Spain. Stable, high-level policy is one reason Europe dominates this sector.

Since the early 1860s, when French engineer and inventor Auguste Mouchout used a glass-enclosed cauldron, a polished parabolic dish, and the sun’s heat to produce steam for the first solar steam engine, solar thermal energy (STE) technology has come a long way. Today, an assorted range of technologies is in use or on-line — including […]