It looks like Tesla is about to change the battery game – this time by installing more energy storage capacity in 2016 with SolarCity alone than all of the USA installed in 2015. In a recent filing with the SEC, it was found that Tesla foresees an almost 10X increase in sales to SolarCity for behind the meter storage.
We recognized approximately $4.9 million in revenue from SolarCity during fiscal year 2015 for sales of energy storage products governed by this master supply agreement, and anticipate recognizing approximately $44.0 million in such revenues during fiscal year 2016.
According to an analysis by GTM’s Ravi Manghan this revenue projection means Tesla expects to install approximately 116 MWh of behind the meter storage. In all of 2015, the United States installed about 76 MWh of behind the meter. Starting from a very low base, SolarCity and Tesla Energy doubled their battery installation volume last year. These were small installations at test locations for special customers, but that wall of ‘start up’ is already starting to fall. Expand Expanding Close
A recent report (PDF) reminded us that the solar power industry is still in its youth. While we have been installing solar power since the 1950’s – 85% of the world’s 230GW+ has been installed in the last 5 years, and during the next five years that front end concentration will increase. The suite of tests developed in the 1970s for measuring solar module longevity is showing us that while most modules perform well, at or above their warranted levels, there are enough that don’t, and that the industry need continue to improve quality control if we are to depend on solar power in the long term.
When a large scale solar power plant is built out, the financiers of those solar plants are going to ask if your solar modules are ‘bankable.’ Bankability generally follows a few guidelines, the first being – What are the odds that the solar module will perform like the production models say? $100 billion of solar power was installed last year – and every installation believes their solar modules are going to last long enough to cover their costs.
Today is the 46th Earth Day. Though from the perspective of the earth, it’s probably closer to its 1.6 trillionth day. Nonetheless, Earth Day is supposed to be an occasion to demonstrate your support for environmental protection.
You can show your support in very simple ways like using less energy or finally recycling those dead batteries that have been piling up in your junk drawer, or you can try to pick up some new habits and initiate yourself to new and greener technologies. Expand Expanding Close
But now we change the pace as we learn that Ardes Johnson, a long-time former GE sales executive and more recently SolarWorld’s Vice-President of Sales in the US, joined the automaker to lead the new sales team in its ‘Tesla Energy’ division. Expand Expanding Close
SunEdison has officially filed for bankruptcy. This has been expected by some players as far back as the 3rd quarter of 2015. SUNE has been a big player in the solar industry for a long time as they’ve strived to become the biggest global developer. By aggressively going after growing markets around the world and innovating with Solar Power YieldCos it looked like SunEdison might make it as well. Now, both SunEdison and their YeildCo is being sued. Alas…this party has come to an end. Expand Expanding Close
Ray Kurzweil is known for inventing things, wanting to live forever, The Singularity and – of relevance in this article – Exponential Growth of technology, like solar power. Recently, during a medical device presentation, Kurzweil reiterated his predictions that solar power will continue to double its global capacity every two years and six more times in the next twelve years. Some charts look suspiciously like they’re shooting upward just ahead of his predicted pace. Personally, being in the field day to day, as a Project Developer, it is hard to believe that solar power might install such volumes in the next twelve years – but ten years ago, when I got into the industry, I never thought it’d grow like it has. Expand Expanding Close
SunEdison, the world’s largest renewable-energy developer, has been going through some serious financial troubles for a while now and could reportedly file for bankruptcy as soon as this week. Its stock (SUNE) lost 98% of its value over the past 12 months and people are starting to jump ship.
Through the troubles, Electrek has learned that Tesla hired a key member of SunEdison’s energy storage team. Expand Expanding Close
There is no denying the impact that alternative energy sources are having on our world today. Even here at the 9to5 family, we’re taking note with Electrek.co, our newest site focused on electric vehicles. We roundup the best Green Dealseach day with a focus on sustainable energy and manufacturing practices that are safer for the environment. There is no shortage of solar-based products on the market that are capable of charging your iPhone, tablet or even bigger things like a refrigerator.
Along those lines, more generators are being released with alternative methods of power as opposed to traditional fossil fuels. Today, Renogy has announced the Lycan Powerbox Solar Powered Generator that utilizes the energy of the sun to provide power in the case of an outage. It uses a replaceable lithium-iron phosphate battery as opposed to traditional acid-based alternatives. More below.
The Lycan Powerbox just launched on Indiegogo a few hours ago with a goal of $75,000. At the time of writing there are 9 early bird spots left priced at $999, after that you’ll have to put up $1,099 or more. It is expected to have a final list price of $1,799+ depending on the configuration if the project is fully funded.
By using the power of the sun as opposed to gasoline, the Powerbox is capable of maintaining a charge without dependency on other fuels. The internal power storage system can be charged in three hours using two solar panels and is easily swapped for powering up additional batteries as well. It can take in 300 watts of energy at a time while putting out up to 10A of power across its three 110V AC outlets. Additionally, it has two 12V DC outputs and four USB ports with three capable of reaching 2.4A charging speeds.
Here’s a look at expected usage times by appliance:
LED Flat Screen TV = 11 hours
Smart Phone = 120 charges (USB Port)
Laptop = 8.5 hours (constant plug in) / 5 charges
Microwave = 58 minutes
Radio = 24 hours
Refrigerator = 8 hours
Digital SLR Camera = 25 charges
120V 9 Watt-LED Bulb = 33 hours
The internal battery is capable of producing 900W per hour which is one of the higher outputs available for consumer solar generators on the market. By comparison, Goal Zero offers a few different options with its Yeti line of products but those use acid batteries. The Lycan Powerbox is comparable to the Yeti 1250 in terms of features and charging times. Both have similar rugged exterior designs with the main difference being the location of each product’s ports.
If all goes to plan, the Lycan Powerbox is set to ship in August. At the time of this post going live, the Indiegogo campaign had raised $13,589 of its $75,000 goal.
Renogy Rethinks Mobile Energy with Lycan Powerbox Solar Powered Generator
Ontario, Calif, April 13, 2016 – Renogy, a leading expert in renewable, non-traditional energy, unveils the Lycan Powerbox, the world’s first personal energy solution that transforms the power of the sun into easy-to-use and dependable energy. A quiet, efficient and pollution-free portable solar generator, the Lycan is ideal for both indoor and outdoor use, and is the first to feature a swappable lithium-iron phosphate battery, the most reliable and cleanest battery in the world.
“Our vision has been very clear, we want to simplify solar power by making it affordable, reliable and easy to use,” says Yi Li, CEO of Renogy. “We need to impact the world through clean and safe energy products that are appealing and plug-and-play.”
The ideal power source for camping, tailgating or survivalist excursions, the waterproof Lycan Powerbox features a rugged exterior to weather any environment, heavy-duty wheels for effortless movement, and extended handles to easily maneuver it on any setting. Unlike conventional gas generators that use motors and discharges fumes, the Lycan is 100% battery powered, making it safe to use indoors during emergencies or as a way to reduce energy related expenses.
“The Lycan PowerBox is incredibly intuitive and uses the best battery technology available for outstanding reliability and safety,” adds Li. “Our interchangeable lithium-ion phosphate battery has a lifespan of over 2000 cycles, or almost 40 years if used once a week. The Lycan does everything for you, simply plug your appliances and devices in and forget about energy issues.”
The Lycan Powerbox has a maximum solar input of 300 watts and can be fully charged in 3 hours using 3 solar panels. It can also be charged through wall outlets and by using car charging inputs. Its built-in USB and AC/DC outputs are compatible with a full range of devices and appliances, allowing consumers to simultaneously charge and power multiple items including smartphones, TVs, laptops, microwaves, refrigerators, cameras, lamps, medical equipment, and more.
“Renogy started as a way to educate people about the benefits of solar power when I was pursuing my PhD degree, and we’ve effectively reached the DIY market throughout the years,” states Li. “We believe that the Lycan will help us reach another audience and convey the need of having alternative sources of energy.”
Lycan Powerbox is currently available for pre-order on Indiegogo.com for the discounted rate of $1449 (MSRP $1799); the first 25 backers will receive Lycan Powerbox for the “early bird discount” pledge level of $1249.
SolarCity’s Solar Bond Program is looking more and more like SpaceX’s private investment platform. After market close yesterday, SolarCity revealed in a SEC filling that it expects Elon Musk’s rocket company to buy $90 million of the $105 million in new Solar Bonds issued.
Last year, SpaceX already purchased solar bonds from SolarCity on two separate occasions: another $90 million followed by $75 million. SpaceX’s involvement in SolarCity’s Solar Bond Program is set to total around $255 million, which should help finance a lot of solar installations. Expand Expanding Close
In an effort to lobby Nevada lawmakers for the development of solar energy following the Public Utilities Commission’s decision to slash net metering, Tesla CEO Elon Musk and SolarCity CEO Lyndon Rive organized an event Wednesday night at the Gigafactory for Nevada politicians and top government officials.
Tesla and SolarCity executives held presentations meant to be “forward-looking and educational” and the whole event also included a tour of the Gigafactory. Expand Expanding Close
France-based automaker Renault recently confirmed having signed a letter of intent with Utrecht City Council, ElaadNL and LomboXnet to develop a Franco-Dutch framework of smart solar charging solutions for electric vehicles.
Under the agreement, Renault would supply a fleet of 150 Renault ZOE models through 2017 to the Dutch city, while ElaadNL would manage the required infrastructures and the smart-charge standard, and LomboXnet would take care of the installation of the charging stations. Expand Expanding Close
SolarCity and Whole Foods announced an important deal today that will see up to 100 solar power systems installed at Whole Foods Markets across the country. SolarCity’s stock is up 7% following the news. Expand Expanding Close
In a rare interview this week, Billionaire CEO of Berkshire Hathaway Warren Buffett discussed his reason for successfully lobbying for a change in net metering in Nevada, where Buffett owns the state’s largest electric utility, that effectively stopped the growth of residential solar installations in the state. Expand Expanding Close
Solar installer SolarCity announced this week a new package combining solar panels, battery storage, smart electric water heaters and the Nest Learning Thermostat in order to “prevent energy from being exported back to the grid”, says the company in a new press release.
The system, called ‘Smart Energy Home’, will first be offered in Hawaii, where the company had problems with the local electric utilities before. Expand Expanding Close
Germany-based solar energy component supplier Memodo confirmed having received a large shipment of Tesla Powerwalls this week and that installations will start soon.
Memodo CEO Daniel Schmitt claims that his company is the first Tesla Energy distributor to receive the new home battery pack in Germany and he shared the picture seen below. Expand Expanding Close
SolarCity published its earnings for the fourth quarter and full year 2015 yesterday. The company’s stock price fell 25% following the results, mainly because of lower than expected guidance for the first quarter 2016 and a miss in installed solar capacity following its exit from Nevada, as well as difficulties completing a few commercial projects on the east coast.
On a more positive note, we learn from the company’s SEC filing that it more than doubled its battery pack business with Tesla Energy in 2015 versus the previous year, despite the market for home energy storage only being in its infancy. Expand Expanding Close
SolarCity, the largest residential solar installer in the US, employs a grid engineering team to integrate its systems and evaluate the impact on the grid. The company decided this week to publish the team’s findings in a white paper titled: “A Pathway to the Distributed Grid”. Expand Expanding Close
Two homeowners with rooftop-solar systems initiated a class action lawsuit in Clark County District Court against Nevada Power, a utility part of Warren Buffet’s NV Energy, over the recent net metering rate changes approved by the Public Utilities Commission. Expand Expanding Close
SolarCity announced yesterday that it will cease sales and installations in Nevada after the state’s Public Utilities Commission approved a 75% reduction of the price electric utilities pay for electricity generated from rooftop solar. The new rule makes net-metering uneconomical and “effectively shut down” the homeowner and 3rd party-owned rooftop solar industry in Nevada, giving a monopoly to utility-owned systems. Expand Expanding Close
U.S. Democrats recently said they were open to a lift of the four-decade-old ban on crude oil exports, if Republicans would allow the bill to include an extension of the federal tax credit for solar installations, which is currently set to decrease from 30% to 10% in 2017.
Several solar companies saw double digits stock price increases on Monday. The surge can be partly attributed to the Paris agreement to curb greenhouse gas emissions, but it was mainly due to reports of negotiation for the renewal of the federal tax credit for solar energy.
Democrats are said to be willing to agree to a lift on the 40-year ban on US crude oil exports, if the bill includes a long-term extension of the wind and solar tax credits. The deal isn’t done, but as the industry is getting closer to the phasing out of the tax credits, which are set to fall from 30% to 10% in 2017, the industry is warning politicians about the impact of inaction. Expand Expanding Close
Just as the Climate-focussed COP21 conference in Paris is drawing to a close, Google has expanded its Project Sunroof tool to cover more metro areas across the US. If you’re thinking of installing solar panels on your home roof, you can now check Project Sunroof in a number of metro areas in California, Massachusetts, Arizona, New York, New Jersey, Nevada, Connecticut, Colorado and North Carolina. Although no specific cities have been mentioned in the announcement, it’s safe to assume that any major cities in those states should now be covered…
