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Wind and Solar: Predicted to be the Fastest Growing Sources of Electricity Over the Next Two Years

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The U.S. has been making substantial strides towards renewable energy goals recent years by pushing out fossil fuels and replacing them with renewable energy. In fact, The U.S. Department of Energy’s Energy Information Administration is predicting that wind and solar will grow 10-17% over the next two years. If these predictions are accurate, wind and solar will be the fastest growing sources of electricity over the next two years.

Wind Is Winning In Renewable Energy

Since it was discovered in 1919, wind energy has come a long way. One major improvement is affordability. The share of total U.S. generation from wind is projected to increase from 7% in 2018 to 9% in 2020, making wind the largest source of renewable energy in the nation. Currently, there is utility-scale wind power installed in 41 states. In 2019, about 11 GW (gigawatts), or 1 billion watts, of wind capacity are scheduled to come online, which is the largest amount of new wind capacity that has been installed since 2012.

Solar Continues To Soar

As prices continue to fall, solar is becoming a cost-effective energy choice for homeowners and business owners alike. It is the most abundant energy source on earth, and it has become the third-largest renewable energy source in the U.S. power sector. In addition, the installation of solar power across the U.S. has increased more than 23 times over the past eight years. In 2019, utility scale power installations are projected at 4 GWac (gigawatt alternating current). Over the next two years, it is projected that almost 9 GWac solar will be installed across the nation.

Investing In A Renewable Energy Future

Renewable energy could possibly exceed coal electricity by 2022. The EIA predicts that coal will begin to fall by 24%. When adding together renewable energy sources that will be used in the U.S., it’s predicted that the U.S. will get 38% of its electricity from clean energy sources in 2020. This is a great step as renewable energy looks to continue to gain ground on fossil fuels.

 

Interested in investing in a solar power project, but not sure how to find opportunities? As a Distributed Energy System developer, Intersect Energy has the expertise and services you need to find solar power opportunities and capital. Contact us today so we can help you get started with your solar power investment and make sure you keep up with the latest news in the world of renewable energy by following us on LinkedIn!

Tariffs Hit Hard in Q3: What Impact Did This Have on Solar Market?

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The new 2018 U.S. solar tariff which was signed on January 23, 2018 by the Trump Administration levies a 30% tariff on all solar imports to the United States for the next four years. Although developers and contractors tried to secure models in the past few months before the tariffs hit, Q3 2018 is where the impacts of the new 30% tariff have been seen, according to a SEIA and Woods and Mackenzie report. Let’s take a deeper look at the impact this has had on the solar market.

Solar Installation

Solar installation during Q3 fell 15% year-over-year to 1.7 GWdc (gigawatt direct current). The utility-scale sector saw the biggest impact from the tariffs, where installations fell to 678 MW (megawatt). Most predict that the market at the end of 2018 will remain relatively flat in comparison to 2017.

“Developers originally planning to bring projects online in Q3 2018 were forced to push out completion dates to Q4 2018 or Q1 2019 due to uncertainty around tariffs,” said Colin Smith, Senior Analyst at Wood Mackenzie. “We did, however, see utility PV procurement outpace installations fourfold in Q3, showing that despite the tariffs causing project delays, there is substantial growth ahead for the U.S. utility PV sector.”

Residential Installation

Although the utility-scale sector experienced a decrease in installations, residential solar was up 11% year-over-year, with an increase in California’s solar market. This didn’t happen right away, the tariff first caused the cost of solar sold to American homeowners to spike, and the cost of solar is 5.6% higher now than it would have been.

What’s to Come?

“If not for the tariffs, the U.S. solar market would undoubtedly look better today than it does now,” said Abigail Ross Hopper, SEIA’s president and CEO. “However, as this report shows, this is a resilient industry that cannot be kept down for long.” Wood Mackenzie expects many of the delayed projects to come back online by the end of the year. Due to the new 2018 solar tariff, there has been a negative impact on the solar energy market, but the report also shows that the solar industry is resilient and it will make a comeback in the new year.

Across all other markets, solar is competing with lower-cost fuel sources such as wind and natural gas. This means with the increase in solar costs and the competitive marketplace, homeowners, utilities and businesses might be more likely to choose an alternative to their power generation.

How Intersect Can Help

Interested in investing in a new solar power project in the new year? Intersect Energy is an on-site energy company that can provide you with turn-key energy solutions. We have experience when it comes to alternative energy on-site energy generation, we know the process. Contact us today so we can help you get started on your next solar power investment. Don’t forget to stay up to date with all the latest news in the renewable energy industry by following us on LinkedIn.

Surging Benefits for the Use of Solar Energy in Commercial Real-Estate

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When it comes to the advancement of commercial real-estate, there have been changes in virtually every field ranging from price negotiations, to the rise of online marketing and communication tools. However, among the most pivotal is the expansion of solar energy used for commercial real-estate.

According to an article published by the Solar Energy Industries Association (SEIA), “Solar energy offers commercial real estate (CRE) property owners and managers an exceptional opportunity to boost cash flow by reducing utility expenditures, increasing rents, and increasing common areas maintenance (CAM) using reimbursements.”

In addition to the list from SEIA, property owners are no longer dependent on distributed energy from monopolistic (utility) companies for electricity. This reduces the problems that come from being subjected to unpredictable and politically based rate increases.

The primary way to evaluate the economic benefits from solar energy involves calculating how much power a building or company is using. The more power being used, the more the solar development costs can pay for itself. As an independent consultant and developer, Intersect Energy (www.intersectenergylllc.com) has seen an average of 20 percent cost savings for their clients net of capital costs.

The most efficient way to bring solar energy to commercial real-estate is using a solar power purchase agreement (PPA). According to SEIA, a PPA is a financial agreement where a developer arranges for the design, permitting, financing and installation of a solar energy system on a customer’s property at little to no cost.

One of the biggest advantages about solar energy according to commercial tenants is that it provides satisfaction due to its reliable power and the cost reduction. This satisfaction manifests in positive feedback and encourages property owners to install more solar energy facilities, increasing development demand, and creating jobs.

Despite the overwhelming success of solar energy in commercial real-estate, not all property owners are on-board with the idea. Some feel that solar energy is not reliable enough or just prefer not to get involved in providing alternative, green energy to their tenants. However, solar energy has proven to be just as reliable, if not more, than distributed energy from a utility company. The reason for the lack of confidence in solar energy varies from different property managers, but with the economic benefits we will no doubt see solar energy used more often.

Intersect Energy is an expert in alternative and micro grid technology, developed for their clients with not just alternative energy solutions, but access to financing sources. If you want to learn more and get information, contact us today.