Markets

The Office of the New York State Comptroller suggests streamlining three parallel processes to ensure a carbon-free grid by 2040.  

Following the Federal Reserve’s interest rate hikes, the loan products of the residential solar finance company Sunlight Financial are at risk of being sold for a loss. This has led the firm to question its ability to continue operating.

Also on the rise: An alternative to California’s proposed income-based fixed monthly utility bill charge, retired coal plant to be running on 100% hydrogen by 2045 and scientists explore aquatic effects of floating solar. 

The company will invest $1 billion in the TOPCon manufacturing facility, creating up to 1,800 highly skilled jobs.

Also on the rise: Clearway to procure 2 GW of solar trackers from Nextracker, Boston mayor bans fossil fuel use in municipal buildings and a developer challenges Massachusetts town on solar zoning restrictions. 

PureSky Energy, formerly Amp Energy, contends that Shutesbury, Massachusetts is violating state law with its solar zoning regulations. The town is actively seeking to dismiss the lawsuit.

The U.S.-made trackers will supply a portion of Clearway’s solar development pipeline across 17 states.

Also on the rise: Nextracker opens dedicated assembly line for tracker components, Vermont utility keeps the power on with portable long-duration energy storage, and Ambri liquid metal battery passes key safety certification.

With portable power, Green Mountain Power kept a commercial customer operational during 6-hour scheduled maintenance and plans to expand use by bringing resilience to five communities.

Following a suppressed 2022, community solar is expected to have an upward trajectory, boosted by new state laws, the implementation of billions in grant money from the Inflation Reduction Act, and the smoothing of bumps in the supply chain.