1366 Technologies Paves Road to Cheaper Solar PV, Opens New Factory
1366 Technologies has opened its new 42,000 square foot manufacturing site in Bedford, Mass. The site is part of the company’s ambitious plans to remove a major chunk of costs and processes out of the solar manufacturing chain, beginning at the very start of the process: the wafer itself. The new facility’s 25-MW translates to about 6 million wafers per year. Right now 1366 Technology expects only 1-MW of output this year as it is still trying to de-bug its machines. Next year’s target will be 10 MW, and then 100 MW the following year.
GE Sees Slump in Turbine Demand
General Electric speculates that the extension of a U.S. wind-power tax credit will cause a plunge in demand for wind turbines over the next two years. Questions about the fate of the tax credit have halted wind- power projects for 2013 and beyond before its extension as part of the agreement between President Barack Obama and his detractors in Congress. U.S demand had been about 5,000 MW per year. However, without an extension, installations were projected to drop to only 1,500 megawatts this year.
Impressive Solar PV Growth in Greece Despite Banking Crisis
Despite on the ongoing financial tragedy that has stifled Greece for the past three years, the country has risen to become one of the world’s largest markets for solar photovoltaics. According to date compiled by the Hellenic Association of Photovoltaic Companies (HELAPCO), Greeks installed more than 900 MW of solar PV last year, bringing total installed capacity to more than 1,500 MW. The country now ranks third in solar PV per capita worldwide, behind only Germany and Italy.
JPMorgan Ventures into Geothermal Energy, Buys Eight Ormat Power Plants
JPMorgan Chase & Co. paid about $35.7 million for an interest in eight Ormat Technologies Inc. geothermal power plants. JPMorgan plans to pay Ormat an additional $8.7 million for 25 percent of the value of production tax credits generated by the said plants through the end of 2016. The eight plants are part of Ormat’s Ormesa, Heber and Mammoth complexes in California and its Steamboat and Brady complexes in Nevada, Bronicki. JPMorgan has already invested $24.9 million in four of Ormat’s Nevada facilities in a similar transaction last 2011.