Finance

The U.S. Department of Energy (DOE) launches competition with awards for innovation in solar hardware and software.

The company will use the expanded facility to post securities for PPAs and interconnection agreements with energy transmission networks.

Also on the rise: NB Power adds more solar in the Canadian Maritimes, Leyline Renewable finances solar in Washington, D.C., big cuts reported in CO2 emissions from power production, and Schlumberger and Panasonic partner on a novel lithium extraction process.

Also on the rise: 7x Energy sells a Texas solar project to a unit of a Korean power company, and it was eight years in the making, but a $740 million transmission upgrade in Southern California may now pave the way for gigawatts of new renewables and storage.

The 250 MW/1,000 MWh project will draw and store existing surplus energy during off-peak periods and also provide grid balancing services and reduce the need for renewable curtailment.

ECP earlier invested in Sunnova, and has worked across the fossil and clean energy sectors.

Also on the rise: a report highlights long-duration storage challenges, Canadian Solar to sell shares to fund its energy storage business, a Houston office block will sprout rooftop PV, and an Oregon bill expands EV access.

We are by no means tax pros, but here are three insights to help you see how federal tax credits may benefit your solar project.

A year-over-year decline in EBITDA was due largely to higher general and administrative expenses and lower gross profit due to the impacts of Covid-19-related shutdowns.

Also on the rise: Utah solar plant will supply a new Facebook data center, Talesun will supply bi-facial modules to a Pennsylvania solar project, and Deutsche Bank arranges financing for a 250 MW California solar project.