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Next step for Solar! The race has begun!
The Revolution continues!
Tesla Powerwall: Christmas Comes Early in Australia for Tesla (TSLA) Fans
http://www.bidnessetc.com/59692-tesla-powerwall-christmas-comes-early-in-australia-for-tesla-tsla-fans/
Bring on the Competition! WE have to compete!
Yes. Best part of the report.....
http://energy.gov/sites/prod/files/2015/11/f27/Revolution-Now-11132015.pdf
Worth reading!
Obama signed the bill on Friday afternoon.
So we have it! Yews!
Will that make new acquisitions more expensive?
BREAKING: Solar ITC extension approved in the U.S. Senate
It's just nice to read!
Read more: http://www.pv-magazine.com/news/details/beitrag/breaking--solar-itc-extension-approved-in-the-us-senate_100022519/#ixzz3uhB7VHJo
18. DECEMBER 2015 | TOP NEWS, MARKETS & TRENDS, FINANCIAL & LEGAL AFFAIRS, INDUSTRY & SUPPLIERS, INVESTOR NEWS | BY: CHRISTIAN ROSELUND
Shortly after passage in the U.S. House of Representatives, the U.S. Senate has passed an omnibus spending bill which includes extension of the 30% federal ITC. This was the final vote before the bill is signed by U.S. President Obama.
Only a few weeks ago, an extension of the U.S. Investment Tax Credit (ITC) seemed unlikely, and solar businesses globally were basing their strategies on the credit stepping down to 10% on January 1, 2017 and expiring entirely for individuals.
However, a four-year-plus extension of the ITC was included this week in a bill to fund the federal government, and this morning passed both the U.S. House and U.S. Senate. The Senate vote had to be taken twice due to procedural motions, and the final vote was 65-33.
The bill now goes to the desk of U.S. President Barack Obama, who supports it.
Under the extension, the ITC will stay at 30% through 2020, and then decline gradually for two years before falling to 10%. The legislation also allows for PV projects to claim the credit for the year in which they begin construction.
The bill was opposed by some members of the Democratic Party, for reasons including lifting a 40-year ban on oil exports, as well as some Republicans who objected to spending levels.
Studies by GTM Research, IHS and Bloomberg New Energy Finance all show that ITC extension will greatly increase the amount of solar installed in the United States to 2020, with GTM Research predicting that 25 GW of additional PV will be put online. According to IHS, this will prevent the first annual decline in the global solar industry in over a decade.
Conergy Regional Head of Americas Yann Brandt was a proponent of ITC extension well before it was considered a realistic goal by many in the industry. "The ITC extension levels the playing field, so solar can compete in a fair and open market," said Brandt upon the bill's passage.
"We are thrilled about the bill passing for the growth of our entire U.S. business and, particularly, for us to do more work now in the Americas. More than anything the long term extension gives businesses the regulatory certainty to invest in their operations and hire new employees."
Read more: http://www.pv-magazine.com/news/details/beitrag/breaking--solar-itc-extension-approved-in-the-us-senate_100022519/#ixzz3uhB7VHJo
goes to show that SLTD has a mind of its own
Extending the ITC means there will be a next year......
BTW sorry for what we did to Dallas...But not too sorry!
Can someone explain the AH activity? I mean, it was trading around $3 most of the day... And suddenly over 10K shares traded between 3.10 and 3.20 in the AH for now apparent reason
Anybody complaining about low energy prices? Oh geeze don't you hate low gas prices?
How are they (fossil companies) going to make money? Not that I'm worried about them....
http://www.nasdaq.com/markets/natural-gas.aspx?timeframe=10y
http://www.nasdaq.com/markets/crude-oil.aspx?timeframe=10y
Prices go down THEY LOSE.
Prices go up WE WIN!
Love it!
Oil nears 11-year low on oversupply, strong dollar.....
And Republicans think that they are winning on exporting oil.... LOL!
So they extend the ITC for us.......
THANK YOU!!!!!!
They talk about expanding oil production and exploration.....
Low prices kill the competition for us....
We have BOTH the possibilities of San Diego AND Las Vegas going 100% renewable.
Come on JIMBO!
San Diego becomes first major US city to commit to 100% renewable energy
More business for SLTD????????
After a landmark accord in Paris last week that aims to lower greenhouse gas emissions, San Diego is the first of the United States’ major cities that has committed to taking up the cause.
After a unanimous City Council vote, San Diego, the eighth-largest city in the US, vowed to shift to 100 percent renewable energy sources, and reduce greenhouse gas emissions by half, in the next 20 years. The city is the largest municipality that has taken this sort of step and it could prove to be the first in a series of fallen dominoes that confirm major cities are willing and able to help in the fight against global warming on a municipal level.
It’s an ambitious goal.
To get there, city officials said they would shift half of the city’s fleet to electric vehicles by 2020, and recycle 98 percent of methane produced by its own sewage and water treatment plants. It may also have to transfer some control over power management from local utility companies and into municipal control.
The details are still being worked out, but mayor Kevin L. Faulconer expressed the crucial first step was committing to the goal to “make sure we set it and hold to it.”
Initially, the city plans to detail five strategic focus areas:
Energy and water efficient buildings, with the city providing a mix of regulatory mandates and incentives
Clean and renewable energy, with the city facilitating the installation of local renewable energy projects
Bicycling, walking and transit, in which land-use decisions can promote alternative means of travel
Reducing waste, promoting recycling and capturing landfill gases
Climate resiliency, to create programs and policies that will help city officials respond to potential impacts
According to Evan Gillespie — director of the Sierra Club’s clean energy campaign in California — this plan could lead to an annual reduction of seven million metric tons of greenhouse gases.
In recent years, California has been one of the most progressive states in the country when it comes to setting ambitious energy and emissions goals. This effort, for example, coincides with California’s broader efforts to reduce greenhouse gas emissions by 80 percent before 2050.
Gillespie then laid down the gauntlet for other major cities in California, and throughout the United States:
We need others to see this and say, ‘Game on.’ We need places like Los Angeles, like San Francisco and New York, to step up
? San Diego Vows to Move Entirely to Renewable Energy in 20 Years [NY Times]
Featured image credit: mcdonojj via Shutterstock
California Slams Utilities' Bid to Slash Solar-Power Compensation
SAN FRANCISCO (CN) - In a key move on solar power, California regulators Tuesday issued a proposal rejecting the utility industry's quest to slash rates at which solar customers are paid for their excess electricity.
The California Public Utilities Commission's proposed decision would renew the net-metering tariff for solar customers at current rates, dealing a blow to utility companies that want major changes in the system.
Under the net-metering program, utilities compensate solar homeowners for power they export to the grid, to be used by other customers. The solar power-senders receive the full retail price for their electricity.
All of the state's major utilities - Southern California Edison, Pacific Gas & Electric, San Diego Gas & Electric Co. - want to slash the value of the power they receive from solar customers. They claim that solar customers are not paying their fair share to maintain the electric grid.
Under Edison's proposal, new rooftop solar customers would be paid 8 cents per kilowatt-hour for their excess solar electricity, compared to the 15 cents per kilowatt-hour they are typically paid today.
The utility companies also want to impose large new fees for solar customers.
Although the CPUC decided to keep the net metering system in place, the regulators proposed some changes that solar companies have opposed.
New solar customers would pay a one-time fee for connection to the electric grid that would likely range from $75 to $150 per customer, according to the 148-page document, "Decision Adopting Successor to Net Energy Metering Tariff."
Rooftop solar customers would also pay 2 to 3 cents per kilowatt-hour for electricity used from the utility companies, no matter how much power their solar systems generate. A typical solar customer would end up paying an extra $5 a month as a result, the commission said.
The proposal would require new solar customers to switch to time-of-use electricity rates, which charge more for electricity when demand on grid reaches its peak, in the late afternoon and early evening.
Existing owners are exempted from all the changes for 20 years from the date they installed their solar systems and connected to the grid.
Not surprisingly, the utility companies protested the proposal and vowed to change the commission's mind before a final rule is issued next year. PG&E said the decision falls well short of what is needed to ensure sustainable growth of solar power.
"Some solar company executives will say that the sky is falling if we make any changes, but the truth is that solar's bright future will only be assured by moving forward with smart energy reform," said Steve Malnight, senior vice president of regulatory affairs at PG&E.
Rules made nearly two decades ago allow rooftop solar users to pay effectively nothing to use the grid to buy and sell electricity, while getting paid more than market rates for excess electricity, PG&E said.
It claimed those incentives come to nearly $1 billion a year statewide, which must be offset by nonsolar customers. Maintaining the existing incentives for rooftop solar would increase bills for nonsolar customers by $45 a month by 2025, according to PG&E.
"Solar is too important to our state's energy future not to get it right," Malnight said.
San Diego Gas & Electric agreed.
"We are disappointed that today's proposed decision on the rooftop solar subsidy does not address the growing cost burden among our customers," SDG&E said in a statement. It said that Californians "shouldn't be penalized with higher electric bills just because they are unable to afford or accommodate solar on their rooftops."
SDG&E, the only utility in California to deliver 33 percent of its energy primarily from wind and solar, said Californians "deserve a program that balances the interests and needs of all utility customers while supporting and fueling the increased adoption of clean energy technologies."
It was no surprise that solar companies applauded the commission's proposal.
California Solar Energy Industries Association policy director Brad Heavner said the proposal rejects the utilities' "false numbers" while "clearing the pathway for solar to continue to grow."
"Although we don't like everything in the proposed decision, it is a fair compromise that will maintain the opportunity for customers to go solar," he said.
SolarCity CEO Lyndon Rive said the commission's decision to continue the state's successful metering policy is "consistent with California and Governor Brown's leadership on clean energy and recognizes the important role of rooftop solar in accelerating our transition to a clean energy economy and providing customer choice."
Solar City was not pleased, however, with the proposal to require new solar customers to be on time-of-use rates.
"As we saw in 2007 when time-of-use rates were briefly mandated for solar customers, they don't work for everyone who wants to go solar, and would reduce the motivation for installing solar. While these rates can send helpful signals about when to use electricity, we urge the PUC to closely examine the impacts of mandating time-of-use rates," Rive said.
The proposal, issued by Chief Administrative Law Judge Karen Clopton, needs the approval of the commission's five voting members to take effect. The vote is scheduled for Jan. 28, after a 30-day public comment period.
The new rules would take effect by July 2017.
Solar ITC set for extension beyond 2022
Solar 30% Tax Credit To Be Renewed For 5 More Years, PV Stocks Soar
Solar stocks soar as Congress proposes extending solar/wind tax credits
Nice!!!!
You guyz took wonderful care of my stock while I was out!
After severe gut pain on Sunday night I had it check out...
Had my gallbladder removed Monday night....
And 2 stones taken out of my bile duct on Tuesday....
And spending all day today trying to get of the hospital today.
I made me feel so much better to see the stock up....
_____________________
And spreading oil out unto a worldwide glut won't help them that much as oil prices will show you...
At lower energy prices solar will still come out way ahead...
Coal prices are low. Natural gas prices are low...
We become more efficient better.......
We will make more money at lower prices, in the end......
https://www.facebook.com/permalink.php?story_fbid=882003931914033&id=140210492760051
Retweet if you want governments to stand with people instead of Big Polluters #KeepItInTheGround #COP21 @350 pic.twitter.com/pug0iY8FCD
— Climate Reality (@ClimateReality) December 11, 2015
First OT.... Never gets old
Bad energy day today.....
Oil hit $36 today
Natural gas hit $1.96 today.
Arch coal is near bankruptcy.
Arch coal got a warning from the NYSE for being below $50M Market cap.
And on top of that Arch Coal(ACI) went below $1 now at 95¢.....
Peabody Energy (BTU) is suffering today....
Our problems are minor!
Energy Storage in the Fast Lane
November 13, 2015 By Carl Weinschenk
http://www.energymanagertoday.com/energy-storage-in-the-fast-lane-0120316/
The energy storage industry is growing quickly. It is being driven, according to experts, by the parallel growth of on-site energy generation and an increasingly attractive list of operational and financial benefits. Research of batteries for electric vehicles – by Tesla and others – and incentives from utilities completes the upbeat picture.
During the second quarter, The Energy Storage Association and GTM Research found that 40.7 MW of storage was deployed by power companies, according to the ESA and UtilityDIVE. The research suggests that the growth is being driven by the reduction in costs at the low end, which dropped from $800 to $750 per kWh during the quarter.
The organizations said batteries led the charge. An illustration of how on-site battery storage is becoming mainstream is a project announced by The Irvine Company last month. The company is installing batteries with six hour capacity in 20 buildings in Irvine and Newport Beach, CA. The project, which is being undertaken in conjunction with Advanced Microgrid Solutions and SoCal Edison, will provide the structures with 10 MW of power. The goals are to offer a way to relieve pressure on the grid when it is stressed and a backup in case it goes down. The batteries will provide 10 MW of power.
Electric Vehicle Research the Key
The progress in on-site battery storage is deeply related to the evolution of electric vehicles. “The research on batteries for EVs has had direct impact on batteries capable of powering buildings and stor[ing] energy for the grid,” wrote Dr. David Lee, CEO at BioSolar, in response to questions from Energy Manager Today. “Technology advancement in battery technology is largely owed to the years of research and development to increase driving range, reduce costs, and improve longevity of EV batteries.”
Early this year, Tesla introduced the Powerwall, which stores energy using the same battery as its vehicles. An example of its use is at Emerald Lake State Park in Vermont. Clean Technica reported last month that Green Mountain Power – which has ordered 500 Powerwalls for use around the state – tabbed Pika Energy to plan and design power infrastructure for the park featuring photovoltaics and Powerwalls.
The story says that the park wants to avoid the expense and inconvenience caused by falling trees that take down powerlines. That’s always been a problem. Now, energy storage offers a solution. The system Pika is designing is expected to cut electricity costs by 20 percent and an additional $8,000 in maintenance costs, the story says.
Utilities Benefit as Well
Renewables and on-site storage are a great thing for utilities, which is why rebates flow rather freely. Gabe Schwartz, the Marketing Director for Stem Inc., points as an example to Hawaiian Electric, which is working with the company to provide customer energy storage. This lowers end user costs and provides the utility with more certainty and flexibility.
Schwartz also pointed to a deal in which Stem—which describes itself as “an intelligent storage company” — is providing 85 MW to the utility to support the closure of the San Onofre nuclear power plant. “Through this program, Stem will once again aggregate a fleet of Stem storage systems to use as capacity for SCE,” he wrote. “As a result, customers in this region will gain access to storage at a reduced cost, creating greater monthly electric savings. At the same time, the utility can avoid costly infrastructure upgrades or the commissioning of a new power plant by supplementing with cleaner and cost-effective storage.”
The relationship between renewables and energy storage will grow as the world of renewables evolves and expands. “Most recent battery installations have been associated with rooftop solar panels or large scale solar farms, but other types of renewable sources (wind, hydrogen, etc.) should be able to take advantage of the same type of electrical energy storage means,” Lee wrote. “ It is not the type of renewable source that determines whether they will work well with batteries, as battery storage technology can adapt to most forms of produced energy.”
BioSolar Quoted by Industry Media Outlets on Key Cost Factors for the Adoption of Electric Vehicles
3 days 2 hours 24 minutes ago - DJNF
BioSolar Quoted by Industry Media Outlets on Key Cost Factors for the Adoption of Electric Vehicles
Increasing Battery Cycle Life and Substantially Lowering the Cost of Energy Storage Are the Keys to Achieving Rapid Adoption
SANTA CLARITA, CA--(Marketwired - December 08, 2015) - BioSolar, Inc. (OTCQB: BSRC), a developer of breakthrough energy storage technology and materials, recently shared with industry media outlets its thoughts on the potential of its super battery technology to benefit the booming electric vehicle ("EV") market. The Company's technology is aimed at providing a much longer cycle life than conventional lithium-ion batteries, while significantly reducing the cost. It does this by exploiting stable redox chemistry, which enables a much longer life than conventional Li-ion batteries based on intercalation chemistry.
In a BioSolar feature story on AltEnergyMag.com published November 30, Dr. David Lee, CEO of BioSolar was quoted as saying, "User adoption for the EV industry hinges on substantially lowering the cost of battery, which will then help bring down the purchase price of EVs. In addition to the low cost of battery storage, cycle life of the batteries has to substantially improve so that EV owners do not have to buy replacement Li-ion batteries every 5 years or so. If we are successful in reducing the cost of electrical energy storage below $100/kWh, the impact to the EV market will be substantial. This means the electric vehicles can directly compete with conventional vehicles in terms of range and cost of ownership. Manufacturers can also guarantee the battery for the lifetime of vehicle use."
In an industry trend story entitled, "Energy Storage in the Fast Lane" published by Energy Manager Today, Dr. Lee commented further on importance of battery storage research for the electric vehicle industry. "The research on batteries for EVs has had direct impact on batteries capable of powering buildings and storing energy for the grid. Technology advancement in battery technology is largely owed to the years of research and development to increase driving range, reduce costs, and improve longevity of EV batteries."
The Company recently announced that it successfully completed the first phase of its technology development, with test results indicating that lithium-ion batteries incorporating BioSolar Super Cathode technology can achieve significantly higher capacity with costs below $100/kWh, which is less than half of today's lowest cost lithium-ion batteries.
Shares of Sunedison Inc (NYSE: SUNE) were up more than 7 percent in Thursday’s after-hours session after the company announced that, through its partnership with JPMorgan Chase & Co. (NYSE: JPM) and Terra Nova Renewable Partners, it had acquired the Bingham and Oakfield wind farm assets (accounting for 333 megawatts of wind-power) for $209 million in equity.
Sunedison CEO Brian Wuebbels , "This transaction represents good value for SunEdison's shareholders and enhances our financial strength and flexibility (...) Terra Nova's purchase is representative of the strong demand we've seen for ownership of SunEdison's attractive renewable energy assets."
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
I got 96% of my shares below 2¢.
Some at 1.3¢..... Weeeeeee!
They are still behind....
No mention of SLTD on the Elite Solar Site!
http://www.elitesolarca.com
No mention of Elite Solar on the bottom of the SLTD page....
http://www.solar3d.com
EL DORADO HILLS HOME (what we are here for)
EL DORADO HILLS HOME
This El Dorado Hills, CA homeowner is now estimated to save an average of $1,622 per month in energy costs.
PROJECT STATS
Location
El Dorado Hills, CA
System Name
S-Tile Roof SunPower System
System Size
16.08kw
Monthly Savings
$1,622
Annual Savings
$19,459
"The cell" is an ITC beater......
And so the glut will continue and grow, and gas prices will go down.
Market Cap is the only way to make comparisons. We are at approximately .146 pre-split including dilution.
I suppose both of you are correct. Pre-split conversion says 0.11, reality is different.
My wife and 2 boys were going to COP21 until the attacks shut us down.
Looks like another good start today. (again hope it holds)
Hope for an Elite announcement!
I did my part this weekend.......
Markp, check all your various emails for important info.
So when will jim-bob announce the completion?
Spent the day traveling from Talkeetna Alaska to Healy Alaska on the Alaska Railroad...
http://www.broadwayworld.com/bwwtv/article/Destination-America-to-Present-Holiday-Special-RAILROAD-ALASKA-REAL-TIME-TRAIN-RIDE-1126-20151125
Watched all 5 hours!
Now PACKER TIME!
Can we get some of this? How about $500M?
CITY OF LAS VEGAS ENTERS DEAL FOR 100% RENEWABLES
http://www.platts.com/latest-news/electric-power/portland-maine/city-of-las-vegas-enters-deal-for-100-renewables-26290180?hootpostid=0f1acf7057fd56cb4b4cd6f5f8693e6e
Portland, Maine (Platts)--25 Nov 2015 435 pm EST/2135 GMT
While companies have been increasingly buying renewable energy for several years, Las Vegas is joining an emerging trend of US cities switching to green energy.
Las Vegas now plans to buy all its electricity from renewables, thanks to an arrangement with NV Energy announced Tuesday.
The city currently supplies about 40% of its load through city-owned solar and biogas, as well as conservation, Tom Perrigo, the city's chief sustainability officer, said Wednesday.
The deal with NV Energy would cover the city's remaining load of about 4.3 million MWh/year, Perrigo said. The arrangement would cost about $228,000 extra, but the city expects to more than offset the cost with increased conservation and renewable energy additions.
Las Vegas entered into the three-year agreement after exploring other options, including third-party suppliers, Perrigo said. The city expects to replace the contract with a 20-year power purchase agreement, he said, noting that although the 30% federal investment tax credit is set to fall to 10% in 2017, Las Vegas expects solar prices to be about on par with current prices in 2020.
If approved, the deal would begin in January 2017.
The switch to full renewables would lower the city's carbon dioxide emissions to 40% below 1990 levels, exceeding a city goal, Perrigo said.
The city also sees going to 100% renewables as a way of attracting top companies and workers who value sustainability efforts, he added.
The power is slated to come from SunPower's planned Boulder Solar project, with the power set to be sold to NV Energy for $46/MWh under a 20-year, fixed price contract. SunPower plans to build the project in a solar energy zone created by Boulder City, Nevada. The project is expected to produce about 298,000 MWh/year.
The contract must be approved by the Nevada Public Utilities Commission and the Las Vegas City Council. The city council could vote on the deal in December and the PUC is expected to make a decision by March.
The deal would be similar to one the PUC approved in October between NV Energy and Switch, which has data centers in southern Nevada. Under the arrangement, NV Energy will supply Switch from First Solar's 100-MW Playa 2 project, once it is built. NV Energy plans to buy the plant's output through a 20-year PPA that calls for paying First Solar $38.70/MWh, with a 3% annual increase.
'VOLUNTARY' GREEN POWER SALES GROW
The voluntary green power market grew 10% last year to 74 million MWh, according to a report released in October by the National Renewable Energy Laboratory. The voluntary market, which is separate from mandated renewable purchases, accounted for 26% of all non-hydroelectric renewable generation last year, the report said.
The voluntary market includes utility green pricing programs, competitive suppliers, community solar, community choice aggregation and PPAs.
There were more than 550 voluntary PPAs totaling about 6,400 MW as of July, according to the report, which noted that the PPAs are becoming cost competitive with other options.
Last year, information and technology companies accounted for about half of the new PPA capacity, while the government and education sector accounted for about a quarter of the new capacity last year.
With a population of about 600,000, Las Vegas would be the largest city in the US getting all its power from renewable resources. Currently, at least four other US cities are 100% green: Aspen, Colorado; Burlington, Vermont; Greensburg, Kansas; and Scituate, Massachusetts.
Other cities have plans to follow the trend.
Georgetown, Texas, aims to get all of its power from renewable sources by 2017 while in California, San Francisco has a 2020 target and San Diego has its sights set on being 100% renewable by 2035.
--Ethan Howland, newsdesk@platts.com
--Edited by Lisa Miller, lisa.miller@platts.com
Similar stories appear in Megawatt Daily. See more information at http://www.platts.com/Products/megawattdaily
Looks like a good start! Please lets GO!
On NASDAQ dot com
Fossil Fuels For Power Gen May Soon Be In Terminal Decline
November 25, 2015, 08:12:18 AM EDT By Oilprice.com
By Andrew Topf
http://www.nasdaq.com/article/fossil-fuels-for-power-gen-may-soon-be-in-terminal-decline-cm547047
It now makes less economic sense to build a fossil-fuel power plant than ever before, according to a new analysis. While it's probably too soon to sound the death knell for coal and natural-gas-fired electricity plants, the results from the study by Bloomberg New Energy Finance are an indication of the increasing importance of renewables in the developed world's energy mix, and a warning that fossil-fuel plants may no longer enjoy the competitive advantage over renewables they once had.
The study by BNEF, released in October, found that for the first time, the widespread adoption of renewables is lowering the “capacity factor” for fossil fuels. The capacity factor refers to a power plant capacity's maximum potential achieved over time. For example a solar project may have a 20 percent capacity factor because the plant can only produce, on average, 20 percent of the 100 percent maximum capacity the plant achieves when the sun is shining brightest. In comparison a natural-gas plant might have a 70 percent capacity rate because the fuel source is far less intermittent and its production is only limited by seasonal demand and maintenance.
The BNEF report gathered data to estimate the costs associated with each kind of energy, excluding subsidies. The results are startling. It found that the capacity factors for coal and natural gas are falling, and those of renewables are rising. For example the capacity factor for natural gas dropped from 70 percent in the first half of 2014 to 62 percent in the second half of 2015. For wind, the capacity factor rose from 32 to 37 percent during the same period and for solar, it increased from 17 to 20 percent.
Why is that important? Because while solar and wind only represent around five percent of total U.S. electricity, there is now enough renewable energy to influence when coal and natural gas plants run. As more renewables are installed, coal and natural gas plants use less inputs, thus increasing the cost of coal and natural-gas-fired power. As their costs go up, more renewables are installed, and the vicious cycle is perpetuated.
"Renewables are really becoming cost-competitive, and they're competing more directly with fossil fuels," BNEF analyst Luke Mills is quoted as saying. "We're seeing the utilization rate of fossil fuels wear away."
That is particularly troubling for power companies planning to invest in fossil-fuel power plants because it indicates that over time, the plants will be used less. In contrast, while solar and wind projects have a high up-front capital cost, the source of power once they start producing it is free. Meanwhile the cost to produce renewable forms of electricity has come down rapidly.