Hello solar enthusiasts, there have been some exciting developments over the past week that are shaping the solar industry. Let’s dig into what’s new and noteworthy in the world of sustainable energy.
One of the biggest stories comes from Plug Power, who recently unveiled the largest U.S. liquid green hydrogen plant in Georgia. This leap forward represents the growing interest in green hydrogen as a tool to decarbonize various sectors like heavy-duty transportation, heavy manufacturing, and aviation. The use of hydrogen further underscores the versatility and future potential of renewable energy technologies.
Speaking of majorSolar companies taking substantial strides, Bayer, a pharmaceutical powerhouse, is demonstrating its commitment to sustainability by installing a 4.4 MW solar array for home premises. Developed by Enel North America and DSD Renewables, these solar projects align with Bayer’s goal to reach carbon neutrality by 2030 and achieve net-zero by 2050. This development highlights how large corporations can use their resources to promote sustainability and further emphasizes the potential of solar panels for your home.
Agriculturally integrated solar projects make significant strides as well. The integration of mindful land management into solar power development could increase nearby land productivity. This advantageous symbiosis fosters broader local approval while also benefiting adjacent agricultural operations both financially and ecologically.
In technology news, Sandia National Laboratories has made a breakthrough in designing a grid-resiliency algorithm. The algorithm, equipped with various tools, isolates downed or damaged power lines, automates energy production, consumption regulation, and troubleshoots unintentional loops. This development showcases the promising advancements in the world of solar technology that are crucial for the future of the industry.
Next up, for those thinking about vertical solar panels for their residences- there’s a novel radiative cooling technique in the works. A joint U.S.-Saudi research group developed this technique that employs two 45-degree inclined mirrors on both sides of a PV module. This could change the game for urban dwellers eyeing solar energy as a viable option.
On the investment front, good news for solar companies! Venture capital funding in energy storage saw a massive uptick, increasing by 59% year over year. In 2023, the U.S. poured $9.2 billion into energy storage, indicating that financial backing for the green energy revolution is amassing momentum.
Finally, not every firm basks in the solar industry’s sunshine rays. ADT Security recently announced it’s exiting the rooftop solar business. The company incurred sizable losses to the tune of $89 million over the first nine months of 2023. Every budding industry experiences flux, and the solar company landscape is no exception.
Keep exploring my blog for regular updates about solar power and tips on choosing the right solar panels for your home. Together, let’s illuminate our path towards a sustainable future.
Original Article: https://pv-magazine-usa.com/2024/01/26/sunrise-brief-venture-capital-funding-in-energy-storage-increases-59-year-over-year/
