Green Energy

HelioPower joins other environmentally oriented companies to support the city of Palm Desert's Bright Ideas Expo, this Saturday, March 14, from 11am to 3pm. The focus of this family oriented & kid-friendly Expo is: Ideas to save money on your energy bills, and living “green.”

The Expo will be held in the Palm Desert Civic Center Park, located at Fred Waring Drive and San Pablo Avenue. HelioPower local solar energy experts, Matt Rifkin and Matt McPherson, will be at Booth 29!  Talk to our Palm Desert team about how we can help you reduce or eliminate your electric bill and use the city's Energy Independence Program to finance the purchase. 

For more information about the Palm Desert Energy Independence Program, click here.

HelioPower residential solar panel system in Palm Desert, CA

Source: WASHINGTON (Reuters) Feb. 12 For Full Story: U.S. economic stimulus to boost renewable energy

WASHINGTON (Reuters) – After weeks of debate, Democratic leaders in House of Representatives and the Senate have reached an agreement on an economic stimulus package that would pump billions of dollars into "smart grid" projects and renewable energy.

The $789 billion package, which now must be approved by both chambers, contains $11 billion for modernizing the U.S. electricity grid and developing so-called smart grids. 

Smart grids utilize technology to create more efficient and less costly methods of moving electricity.

Aimed at boosting the nation's economy and creating jobs, the legislation also provides $6 billion in loan guarantees for renewable energy projects such as wind or solar energy development.

Solar industry representatives said the stimulus bill would add 67,000 jobs to the sector in 2009 and a total of 119,000 jobs over the next two years.

"The solar provisions in the bill will allow us to begin hiring, create growth opportunities for small businesses throughout the country and keep the economic engine going," Solar Energy Industries Association President Rhone Resch said in a statement. 

Earlier this week, President Barack Obama stressed the importance of providing tax breaks and loan guarantees for firms that produce solar and wind energy.

Fast Company Magazine brings us an excellent resource to review the projects, including energy, in the Stimulus bill and how the list was generated.  View writer, Chris Dannen, full artile here, "Breaking Down the "Energy" Projects in the Stimulus."

Commercial Solar Power Installation in Poway, CA by HelioPower

Here is an excerpt:

Most of the projects in the the President's $900 billion stimulus package are the kind of public works the government has executed for decades: trains, bridges, and so on. But the "Energy" projects that will be eligible for funding are full of new technologies that have never before been implemented on a large scale. What exactly are they?

According to the House Committee on Appropriations, the House version of the bill reserves "energy" monies for the following project categories.

• $11 billion for R&D devoted to the Smart Grid Investment Program and various energy pilot projects
• $8 billion for loans for renewable energy plants
• $6.9 billion for loans to state and local governments, to help them make general "investments" that will increase their energy efficiency
• $8.7 billion to weatherize HUD-sponsored and moderate income housing
• $2 billion in loans and grants for battery technology
• $1.5 billion for increasing the efficiency of schools and colleges
• $300 million in rebates for consumers who buy Energy Star-rated appliances
• $1 billion to buy alternative fuel cars for federal, state and local government
• $200 million in grants towards electric vehicle research
• $2.4 billion for carbon-capture technology to cleanse fossil fuel energy
• $350 for the Department of Defense to figure out how to power bases and weapons with renewable energy
• $500 million for energy-efficient manufacturing projects
• $300 for reducing diesel emissions.

You can read the House's summary of the bill here.

We know a little bit about the so-called "smart grid" that President Obama is advocating. The smart grid is an energy transmission system that can handle variable energy levels, and can pull energy from homes and businesses as easily as it can send energy there. That makes inconsistent generators like wind turbines and solar panels feasible energy sources, and opens the possibility for hybrid cars and houses to sell back some of their energy to the utility company.

But the details of the other projects are discussed largely in catch phrases and metonyms. To figure out where this money will actually go, you have to dig into the pages of the Main Street Economic Recovery Report, which is a list of potential stimulus projects compiled by the US Conference of Mayors. As I explained in an earlier post, the mayors of America's cities will be the ones sending stimulus ideas to the state-level government, who, in turn, will apply for funding from the Department of Commerce once the stimulus–aka the American Recovery and Reinvestment Act–is signed into law at the end of this week.

But if you want a more Web 2.0 way to explore the mayors' project suggestions, you can check out Stimulus Watch, which has ported the mayors' list, and allows people to vote and comment on the projects.

The mayors' report lists over 1300 "energy" and related project ideas in all 50 states. This is the meat and potatoes of the stimulus package, right here; each idea is summarized with job-creation predictions and cost estimates. It's also the most exciting part of the act, because many of these suggested projects will, if enacted, bring thousands of talked-about "green" ideas to immediate popular use.

Residential solar panel installation in Encinitas, CA by HelioPower

Generous state and utility rebates and now the new Federal Incentive Tax Credit for renewable energy can lift up to 50% off the price of a solar power system for your home or business.  It has never been a better time to invest in a solar electricity system, thus greatly reducing or eliminating your electric bill altogether!

A solar electric or panel system sits atop your roof and generates electricity from the sun!  You use very limited amounts of electricity from your utility company. 

New Federal Tax Credits for buying a Solar Power System just increased to 30% with no cap for either residential or commercial systems. When you combine these AMT exempt Federal Tax Credits with State Rebates, you can save nearly 50% on a new system!

In these volatile economic times we continue to be faced with escalating electricity costs. When you invest in a solar power system your budget is insulated from continued electricity rate hikes. For example, starting in January 2009 SCE will increase your rates by 25% to 30% as a result of higher natural gas and transmission costs. This marks the third rate increase in just four years!

Additionally, a solar electric system will increase the value of your home or business. A recent study from the Appraisal Institute demonstrated that the selling price of homes increased by $20.73 for every $1.00 of decrease in annual utility bills. Using this math, a solar electric system often pays for itself the day it’s installed.

Call the HelioPower sales team at 1-87-SOLAR-888 to get a free on site analysis and customized quote for your rooftop solar power system. 

Marc Gunther, Senior Writer at Fortune Magazine, logged today's media article, "Why clean energy is still a good bet."

Despite falling oil prices and the credit crunch, green technology investors remain bullish.

Here is an excerpt from his excellent article, for the full piece click here.

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(Fortune) — Some people are saying that the clean energy revolution is over, before it has even begun. "Alternative energy suddenly faces headwinds," declared The New York Times. "Winds shift for renewable energy as oil price sinks, money gets tight," reports The Wall Street Journal. "Will the Economic Crash Take Down Our Hopes for Clean Energy?" asks Alternet.

There's no doubt that recent developments cast a cloud over the renewable energy business. The capital markets have turned risk-averse, making financing for alternative energy hard to come by. Declining oil prices make it harder for cleaner transportation fuels to compete with gasoline. In a slumping economy, the government will be reluctant to pass climate change legislation that will raise gas and electricity rates.

Never mind – there are compelling reasons, even now, to believe that the U.S. is on the verge of a dramatic shift, away from a economy dependent on cheap fossil fuels and towards cleaner, greener, more efficient ways of doing business.

Recently, I spoke with three leading venture capitalists who focus on clean tech: William E. "Wilber" James of Rockport Capital, Alan Salzman of VantagePoint Venture Partners, and Paul Maeder of Highland Capital Partners. Needless to say, they are biased – they are invested, personally and professionally, in renewable energy and other clean technologies.

But they all see powerful forces driving the U.S. economy towards a more sustainable way of doing business in the long run. Those drivers include the science of climate change, rising global demand for a limited supply of fossil fuels, and growing political support for clean energy.

By Glenna Wiseman

With the extension of the Federal Investment Tax Credits for solar, the mood was jubilant.  Rhone Resch, president of SEIA, relived the exhausting 18 month journey the industry took to get the credits in place.  The legislature turned in a Hollywood style ending in its passage as part of the Emergency Economic Stabilization Act of 2008.   His retelling of the amazing collaborative effort presented a cathartic opportunity for the industry to take a deep breath, fully embody the triumph and now move onto the hard work yet to come.  In fact Resch reiterated a laundry list of objectives SEIA sees as critical to the growth of the solar industry.  Ending his speech, he recalled the recent "Drill Baby Drill" call of the oil industry, urging the industry to replace it with "Go Solar, Baby, Go Solar!"

Talking with veterans of the industry at large, several mentioned the show reminded them of the "dot com" rush.  Lots of investment bankers rooming the aisles looking for the next big idea, etc.  Described as the "solar rush" by some, the industry is indeed poised for heavy growth over the next decade. If this industry matures as most do, you will see consolidation in the ranks and those investing in solar power systems are wise to look to strong entities to supply panels.

Many believe solar to be the "right technology at the right time and place" as our country looks to green up its energy sources and free up the grip of foreign oil on our economy and national security interests. 

California Gov. Arnold Schwarzenegger walked the show prior to its official opening.  "Of course we are now facing tough economic times, but that's why we need to focus on solar and the environment," he said as reported by TheStreet.com.

The environment and the economy are cental themes in Thomas Friedman’s new book, "Hot, Flat and Crowded."  World-renowned author, journalist and three-time Pulitzer Prize winner, Friedman focuses on the role of environmental efforts in his new book, seeing this strategy as central to our financial well-being, among critical benefits.  You can join his online group discussion at http://www.thomaslfriedman.com/.

Breaking news, Wednesday, September 24, 2008 from RenewableEnergyWorld.com: "US Senate Passes Renewable Energy Tax Credits, House Could Pass Bill This Week:"

HelioPower commercial installation for Dos Molson in Poway, CA

The United States Senate on Tuesday voted by an overwhelming majority to extend the Production (PTC) and Investment Tax Credits (ITC). The tax measure was passed by a vote of 93-2. Now it goes back to the U.S. House of Representatives where it could be approved later this week.

Under the legislation, the PTC will be extended for one year and the ITC will be extended for eight years. The extensions would be at least partially paid for by a change in the tax code for the oil and gas industry. The bill also contains removal of the US $2,000 cap for residential solar installations. The US $18 billion package is part of a larger tax bill worth approximately US $148 billion.

Breaking news in from Business Wire, September 18…"Clean Energy NOW:Diverse Coalition Calls on Congress to Extend Clean Energy Tax Incentives"

Speakers that span the political spectrum, representing the Clean Energy NOW coalition of more than 200 organizations, joined forces today to call for Congressional action to extend the renewable energy and energy efficiency tax credits before the conclusion of the September legislative session. While the credits are set to expire at the end of the year, this week the Senate Finance Committee announced an energy tax deal–agreeing to an $18 billion package which includes clean energy tax incentives. The full Senate is expected to vote on the measure in the next several days.

"Today, the wind industry is experiencing record growth, and hiring new workers every day," said Randall Swisher, Executive Director of the American Wind Energy Association (AWEA). "Unfortunately, many of those newly created jobs are now at risk, and urgent bipartisan action by Congress is needed to sustain the momentum of this growing clean energy industry." According to a recent study by Navigant Consulting, failure to promptly extend the renewable energy tax incentives places at risk 116,000 jobs in the wind and solar industries and more than $19 billion in clean energy investment.

Moynier Vineyards, HelioPower installation using Mitsubishi 185 modules in Winchester, CA

Late last night, the U.S. House of Representatives passed H.R. 6899, a bill that contains extensions for the Production and Investment Tax Credits (PTC and ITC) for renewable energy, by a vote of 236-189.

H.R. 6899 which reportedly will not receive any consideration in the U.S. Senate, contains a one-year extension of the production tax credit for wind energy, a three-year extension of the production tax credit for biomass, geothermal, hydropower, landfill gas and waste-to-energy systems. It also contains an eight-year extension of the commercial ITC for solar energy and fuel cells and raises the cap for the residential energy-efficient property credit from US $2,000 to US $4,000.

According to sources close to the legislative process, the Senate has reached consensus on a different bill that also includes extensions to the PTC and ITC and could vote to pass the Senate version of the bill later this week. Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Chuck Grassley (R-IA) made the announcement yesterday.
 
The agreement includes ITC and PTC extensions with a total value of approximately US $17 billion, paid for in part by freezing the tax deduction for the domestic manufacturing activities of American oil and gas companies and tightening the rules by which oil and gas companies pay taxes on income earned overseas and freeing general fund monies with increased payments into the oil spill liability trust fund as new drilling is considered.  Other pay-fors include a one-year extension of the Federal Unemployment Tax Act surtax at the current level and increasing reporting requirements for brokers on sales of stock.
 
This agreement, which has been under development for the last week includes an 8-year extension of the commercial ITC, a 2-year extension of the residential ITC, removal of the cap for the residential energy-efficient property credit, a one-year extension of the wind energy PTC and a three-year extension of PTCs for all other qualifying facilities.

Breaking news from Dow Jones' reporter, Cassandra Sweet: "Renewable Power Indus Hopes For Tax Credit Extension" For the full article click here.

SAN FRANCISCO -(Dow Jones)- Renewable power companies could take a hit if crucial federal tax credits set to expire Dec. 31 aren't renewed before Congress adjourns next week for elections.

The U.S. House of Representatives approved an energy bill late Tuesday that includes a one-year renewable tax credit extension for wind power and an eight- year extension for solar power. The measure includes provisions for expanded offshore drilling for oil and natural gas and a tax hike for oil and gas production that would pay for the renewable tax credits.

In the Senate, Democrats and Republicans reached a deal Tuesday on tax legislation that would extend the renewable tax credits. The credits would be partially paid for by increased taxes for oil and natural gas production. Due to scheduling of other bills, the Senate is unlikely to vote on the measure until next week.

Congress adjourns on Sept. 26. It may not reconvene this year.