The economy clouds solar’s skies
For a while, it seemed that the solar power sector would weather the downturn fairly unscathed — but it hasn’t been so lucky, at least in the short run. Not only has venture capital dried up for experimental technology startups, but fewer and fewer homeowners are able to afford upgrades like rooftop solar panels, reports the San Jose Mercury News. The frozen credit market has only made matters worse, stalling capital projects — like utility-scale… Continue Reading
Ausra lowers sights on solar plants, cuts staff
Solar energy company Ausra announced that it no longer plans to build massive solar thermal plants across the southwest and California desert due to poor economic conditions, shifting its focus to smaller-scale power generation plants. To weather the downturn, the Palo Alto, Calif. firm is also placing more emphasis on selling its technology and equipment assets to utilities and related companies.
For most of 2008, Ausra was working on solar plants costing up to $1 billion,… Continue Reading
Banks show confidence in solar — SunRun secures $105M financing
We may be in the depths of a credit crunch, but some banks still seem willing to give loans to renewable energy projects. This morning, solar services firm SunRun is announcing a $105 million commitment by U.S. Bancorp (USB) to buy about 2,000 of the residential projects it installs.
Keep in mind that this isn’t equity or debt money that SunRun itself will receive. Because the company leases out solar arrays that it installs on customers’… Continue Reading
SunEdison raises $161 million for solar services and installing
SunEdison, a solar services company based in Beltsville, Md., has taken $131 million in venture funding and $30 million in debt to finance its rapid expansion and ongoing projects, including some of the largest solar installations in the United States.
In the booming market for solar installations, there is a profusion of different business models, serving markets from residential to business and military, and selling or leasing panels, or simply selling their electricity. SunEdison often handles… Continue Reading