RENEWABLE POWER Direct

(May 15, 2024)

Welcome to the May issue of RENEWABLE POWER Direct, a monthly e-newsletter from POWER magazine that provides important renewable energy news and information, including articles on new technology, operations and maintenance best practices, industry trends, innovative projects, and much more.

Sign up to have future issues of RENEWABLE POWER Direct delivered directly to you via email.

POWER Magazine |?Jobs | White Papers?| Webinars | ?Events |? Store |

First Utility-Scale Solar Project Announced Under TVA Generation Flexibility Program | An independent power producer and a major electric cooperative—both based in Tennessee—have announced an agreement to partner on a utility-scale solar power installation to serve customers in that region.

Report: Renewables Generating Nearly One-Third of Global Electricity | A UK- based global research group said continued growth in wind and solar power increased power generation from renewable energy to nearly a third of worldwide electricity output last year. Ember, a think tank headquartered in London, in its “Global Electricity Review 2024” released May 8 wrote that the numbers show a goal to triple renewable energy generation capacity by the end of the decade is in reach.

Federal Policies and Incentives Drive Demand for American-Made Solar Power Modules | The U.S. was one of the world leaders in solar equipment manufacturing a few decades ago, but then the Chinese stole the show. Now, however, American companies are finding a lot of new opportunities as a result of supportive measures enacted by U.S. lawmakers.

In Case You Missed It: Feds Release Final Rules on Clean Energy Tax Credits | Renewable energy project developers now have important clarification about the transferability of clean energy tax credits, as the U.S. Treasury Dept. and the Internal Revenue Service (IRS) released final rules on the issue on April 26.

The POWER Interview: Pumped Storage Project Brings Renewable Energy to Former Coal Mining Site | A pumped storage project in Kentucky is being touted as a model example of how land that once was the site of a coal mine can be repurposed for a renewable energy installation.

How Regulatory Burdens and Misguided Incentives Are Degrading Power System Reliability | It’s no secret that the U.S. electric power system has undergone a remarkable transition that continues today. Coal-fired generation, which was the leading source of power generation during the 20th century, often providing more than half of the country’s electricity supply, fell to about 16.2% of the mix in 2023. Meanwhile, the U.S. solar market installed 32.4 GWdc of electricity-generation capacity last year, a 51% increase from 2022, and the industry’s biggest year by far, exceeding the 30-GWdc threshold for the first time. Solar accounted for 53% of all new electricity-generating capacity added to the U.S. grid in 2023, far greater than natural gas and wind, which were second and third on the list, accounting for 18% and 13% of new additions, respectively.

Siemens Gamesa Changes CEO, Announces Job Cuts as Part of New Focus | Siemens Energy announced an overhaul of its struggling wind power division on May 8, unveiling plans for a new CEO for its wind turbine business and also saying job cuts would be included in the plan.

California Regulators Reject PG&E Plan to Sell Generation Assets | California regulators have denied Pacific Gas & Electric’s (PG&E’s) plan to sell a multibillion-dollar stake in the utility’s power generation fleet to a New York-based investment firm.

How the Massive Growth in Solar Power Is Affecting Power Grids | The Solar Energy Industries Association (SEIA) reported in March that the U.S. solar industry installed 32.4 GWdc of capacity in 2023, a remarkable 51% increase compared to 2022. It was the industry’s biggest year by far, exceeding 30 GWdc of capacity for the first time. Overall, photovoltaic (PV) solar accounted for 53% of all new U.S. electricity-generating capacity additions in 2023, making up more than half of new generating capacity for the first time. The utility, commercial and industrial, and residential sectors all set annual installation records, while the community solar sector was within 5 MWdc of an annual record.

The POWER Interview: The IRA's Impact on Tax Credits, Tax Equity, and Renewable Energy | The Inflation Reduction Act (IRA) represents the largest incentive effort for clean energy in U.S. history. Its impact touches multiple sectors, including solar, wind, hydrogen, energy storage, and more. The IRA includes more than 70 investment, production, and excise credits designed to facilitate the transition to cleaner energy production.