On the heels of recent announcements about the viablility of offshore wind projects, two residential solar-related firms made announcements today indicating further headwinds for renewable power development. First, Enphase Energy, a manufacturer of solar micro inverters, has announced that they are reducing their workforce by 10%, and cutting some contract manufacturing in the US and Europe, due to slowdowns in demand in both regions. Enphase has nearly half of the market share for residential solar installations in the US, which represents about three-quarters of the world market for residential solar power. In a related development, SunPower, a subsidiary of TotalEnergies, and a leading residential solar installer, has filed a so-called "going concern" letter with US regulators, saying there is doubt that they have the financial position to continue operating. They had previously sold off both their panel manufacturing and commercial and industrial divisions, leaving them directly exposed to the softening residential solar market.
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When The Wind Blows - Offshore Wind Stung By Project Cancellations, But Progress Can Be Seen Too
It’s been a rough few weeks for the offshore wind industry, highlighted by Ørsted’s decision to cancel two high-profile projects in the Northeast: Ocean Wind 1 and Ocean Wind 2. The industry continues to be plagued by a host of problems around inflation, the supply chain and permitting, leading some developers to write-down losses and question whether their projects remain economically viable. But it hasn’t all been bad news, as other projects have been able to move forward and hit major milestones. In today’s RBN blog, we look at the recent cancellations, some key projects that have been approved or are advancing, and what we’ll be watching for over the next several months.
Which Way Does That Old Pony Run? - Clean Energy Booms in Texas, But Oil and Gas Still Critical
Plans to greatly expand the production of low-carbon energy and reduce greenhouse gas (GHG) emissions can be found just about everywhere, from national and international policy discussions to debates at the state and local levels. Given the potential for dramatic economic, social, and geopolitical impacts over the coming decades, it’s no surprise that top-down mandates for a transition to a more renewables-centric energy mix and away from fossil fuels can stir up concern over the pace, scale, and ultimate effectiveness of such a massive undertaking. In some places, like California, critical voices are largely drowned out. In other spots, apprehension may fester just below the surface. But in a state like Texas that identifies so closely with the energy industry, the conversation is right out in the open. In today’s RBN blog, we look at how that debate is playing out in Texas, where renewable energy is booming in a state known for fossil fuels.
New York State of Mind - New York Will Need Unprecedented Increase in Wind, Solar to Hit 2030 Target
Every state has its unique set of advantages and challenges, but very few face the number of contrasts that makes New York and its ambitious decarbonization goals so interesting. The Empire State ranks fourth in population (behind California, Texas and Florida) and is home to the biggest city in the country, yet most of the state would be considered rural. It has the nation's third-largest economy, but because its key industries — including financial and business services — are not energy-intensive, and many in the New York City area use mass transit, its per-capita energy use is lower than all but two states (Hawaii and Rhode Island). And while the state gets about 30% of its power from renewable sources (most of it large-scale hydropower), solar and wind generation are still very limited there. In today’s RBN blog, we look at how the state’s plans to ramp up renewable generation — which have long been plagued by problems with incentives, permitting and project cancellations — are running headlong into the difficulties of adding so many resources in a short period of time.
