Here’s a bright idea — check out our roundup of solar energy news for the week of August 24th, 2015
EnergySage Data Contributes to Financial Justification of Going Solar
Using EnergySage data and analysis and homeowner testimonials, The Boston Globe outlined the financial benefits of going solar this week. While the average Massachusetts homeowner is paying $100 each month for their electricity, electricity prices are expected to rise by 3% each year. Thus, solar energy system owners and homeowners leasing their system can save an estimated $35,900 and $11,400 over a 20-year period, respectively.
PACE Becomes A National Clean Energy Priority
In recent weeks, President Obama has called for a bigger push in the use of renewable energy, evident in his unveiling of his Clean Power Plan and recent improvements to the property-assessed clean energy (PACE) program. According to Greentech Media, the White House paired up with the Federal Housing Administration (FHA) to establish a “new PACE guidance” with the objective of expanding PACE financing for single-family homes and ultimately making it easier for Americans to invest in clean energy technologies or energy-efficiency upgrades. In addition to the PACE announcement, Obama revealed a longer list of White House initiatives targeting energy issues and accelerating the uptake of solar in the residential sector. Bravo!
Strong Solar PV Market Growth Will Continue
A Hexa Research study found that the total global solar PV installed capacity would reach more than 480 GW by 2020. According to the market research and consulting firm, the prioritization of global clean energy production and increased governmental support for incentives and rebates are key to further growth in the sector. Furthermore, it is expected that the worldwide PV market will continue to see strong demand throughout 2015. This research is supported by a recent Citigroup report that predicted solar and wind will grow faster than the IEA’s forecast. Citi analysts also calculated that under the “Action” scenario, where the low-carbon pathway is taken, global citizens would save $1.8 trillion by 2040.
Demand Flexibility Transforms the Retail Electricity Sector
On Wednesday, the Rocky Mountain Institute released The Economics of Demand Flexibility, a report that illustrates how demand flexibility — or “flexiwatts” — can save customers 10 to 40 percent on their utility bills. Through various programmable timers and controls, such as smart thermostats, homeowners are increasingly able to monitor their energy usage. As a result, these “flexiwatts” can also reduce electricity usage during peak demand, further integrate solar and renewables into the grid, and shift demand to lower-cost times. These findings outline great opportunities for both utilities and consumers: utilities can avoid grid investments of $13 billion per year and residential customers can save up to $110 to $250 million per year in reduced grid costs.
Your Weekend Solar Reading
- Philip Warburg discusses the shift in the United States from fossil fuels to clean energy and what it will entail. The Takeaway: wide deployment of utility-scale solar power will be needed!
- Seeking Alpha investigates why residential solar companies are booming in the U.S. and the risks to their future growth. The Takeaway: the U.S. residential solar market is growing exponentially!