July News Update - What the RE Royalties Team is Reading
As summer comes to an end, take a look at some interesting reads from the renewable energy industry this July!
New report finds Texas utility-scale solar growth may push remaining coal plants into retirement
Coal-fired generation plants in ERCOT might be at risk by 2022. “Coal-fired power generation in Texas, pummeled by clean, no-fuel-cost wind over the past 10 years, is about to be hit by a second wave of competition from renewables as utility-scale solar power stands to gain significant market share over the next few years,” said Dennis Wamsted, an IEEFA analyst. Solar power capacity across ERCOT has grown more than 4000% in the past decade with an installed capacity increasing from just 15 MW in 2010 to over 5800 MW in 2020. Checkout the full article here to see how the evolution of battery storage technology is adding to utility-scale solar growth!
Company promises $2.1M solar project in Yukon
Yukon's biggest solar project to date is well on its way! Solvest Inc. plan to build this new solar farm on private property. They expect this $2.1 million project to pay for itself in a decade! The facility is likely to connect 4,000 new solar panels to Yukon's grid, creating almost 2 GWh of power per year. This would be equivalent to powering 153 Yukon homes. This 1.7 MW solar project will be the largest in Northern Canada and B.C. Checkout the full article here to learn more about its construction and management.
The $30,000 Sedan Covered With Solar Panels That Charges on the Go
Sono Motors is developing an electric car covered in solar panels that can generate enough electricity to give the car more than 10 miles of range. It is likely to hit the market within the next 18 months and will come in one size and color. The car can be left on the side of a road and easily charge itself! Take a look at the full article here to learn more.
Climate crisis: Offshore wind power ‘so cheap it could return money to consumers’
Renewable energy is likely to become the cheapest kind of power to produce in the UK. According to research by a team at Imperial College London, households could benefit when the latest round of offshore wind farms in the UK start producing power in the mid-2020s. Cheap renewable energy could reduce the need for energy subsidies and even produce 'negative subsidies', where producers are able to return some subsidies back to the government. Checkout the full article here.
Thanks for tuning in to this month's news update. See you next month with more news!