TidalStream Asks Partners to Test Tidal Turbines in Deep Waters
TidalStream Ltd., a producer of platforms for tidal-power turbines, is working with utilities, shipyards, marine companies, turbine makers to test their technology in deeper waters. Since tidal-energy industry is still in its infancy, it currently costs around $440 a megawatt-hour, which is five times higher than the cost of coal-fired power, according to Bloomberg estimates. John Armstrong, a director at the London-based company, says that their platforms can accommodate groups of turbines at varying water depths giving TidalStream’s technology the potential to reduce turbine installations by half.
Apple Gets Final Approval for its Solar Array-Equipped Headquarters
The Cupertino city council gave its final approval last Tuesday so that the iPad-designer can begin construction of its brand new 176-acre corporate headquarters. Dubbed as Apple Campus 2, the establishment will feature the biggest solar panel array in theU.S. that is dedicated to a single corporate facility. The new campus will combine the use of solar arrays with on-site fuel cells as well as grid-purchased renewable energy during peak hours to meet Apple’s goal of powering the new facility using 100 percent sustainable energy.
Huge Chunk of New US Electricity Generation Coming From Solar; Says FERC
According to the Federal Energy Regulatory Commission’s Office of Energy Projects, the U.S. brought online almost 700 MW of new electricity generation in October to which a huge chunk of it was from large-scale solar sources. Out of a total 699 MW of new builds and expansions that FERC has monitored, 504 MW came from 12 solar projects that are spread all over the country. Only two wind projects and four biomass projects came online during the month of October, contributing 66 MW and 124 MW respectively. Other sources such as natural gas and coal accounted for the remaining portions.
SolarCity’s Next Bond Offer May Reach $200 M; Says CFO
SolarCity Corp., the first U.S. company to offer bonds backed by solar panels, plans to sell as much as $200 million as soon as the second quarter, says Chief Financial Officer Bob Kelly. The San Mateo California-based firm already sold $54.4 million in bonds from Nov. 13 transactions that closed today. Investors are now recognizing that selling electricity from solar systems is a stable, long-term source of revenue, Kelly adds. The solar bonds are rated BBB+ by Standard & Poor’s, has an interest rate of 4.8 and will mature in December 2026.