Solar Energy Investing

The Market Day reports that in the U.S., 35 states have established net metering - the ability to sell energy from solar panel systems back to utilities - to reduce utility bills. In 2005, Congress enacted the Energy Policy Act, which is a tax credit for purchasing and installing residential solar energy systems for electric and water heating.

Users of solar systems can take a 30 percent tax credit after installing a system for either purpose and can double the credit for both purposes. The tax credit has a cap of $2,000 per system.

The Billings Gazette reports that the thirteen solar panels installed on the roof of Red Lodge’s Cafe Regis are effectively reducing the number of kilowatt-hours of electricity the restaurant needs to purchase from NorthWestern Energy.

The cafe’s solar panels are part of a renewable energy trend the small town. The Red Lodge Volunteer Fire Department began generating solar power last summer, and Red Lodge Ales has plans to heat its brewery and make hot water with a solar array beginning next year.

CSRwire reports that non-profit carbon offset organization Carbonfund.org has announced that solar energy service provider SunEdison LLC has offset its corporate carbon emissions. By working with Carbonfund.org, SunEdison was able to cost effectively become carbon neutral, eliminating its climate impact.

Carbon offsets enable individuals and businesses to reduce carbon dioxide emissions in one location to offset emissions created in normal activities. Carbonfund.org has offset 365 tons of CO2 on behalf of SunEdison by supporting reforestation projects.

MacReport.com reports that TrendSetter Solar Products has announced a contract to provide solar thermal hot water heating and storage systems to an affordable housing project.

Trendsetter plans installation of the systems at Courtyards of Arcata within the next several months. The project will provide revenues of approximately $239,000 for the housing complex.

Electricnet reports that the California Energy Commission has approved a $2.2 million loan for San Diego to improve its energy efficiency and generate electricity with solar panels in five major areas. The City will also receive rebates of approximately $250,000 from San Diego Gas and Electric and approximately $390,000 from the Energy Commission’s renewable program.

The projects will reduce San Diego’s energy bills by more than $262,000 a year. Five 30 kW PV systems will be installed at the following locations: Mission Valley Library; Casa de Prado Theater; the Palisades Building; Balboa Park Clubhouse; and the Municipal Gymnasium.

Hispanic PR Wire reports that Florida Power & Light Company has announced a new solar array exhibit at the Miami Museum of Science & Planetarium. FPL is building the two kilowatt solar array as part of its Sunshine Energy renewable program. The solar array will be ground mounted next to the museum’s wildlife exhibit.

The array will consist of nine photovoltaic panels and will be nearly 100 square feet. It will also be used as a functioning, teaching vehicle for students and visitors to the museum.

Inside Bay Area reports that 13 cities in California’s San Mateo County have reduced their solar-panel permit fees after pressure from citizens and environmental activists. Concerned that high fees deter the switch to solar power, activists got the cities to reconsider their fees, which were upwards of $1,200 per solar-panel application.

The fees were equivalent to the cost of the cities reviewing an entire addition on a home. San Mateo cut fees from $1,229 to $219, while San Carlos eliminated the fee altogether.

American Venture Magine reports that SolFocus, Inc., a maker of solar concentrator photovoltaic systems, has signed a manufacturing and distribution agreement with Moser Baer India Ltd. of New Delhi. Moser Baer invested $7 million in SolFocus, closing out its $32 million Series A funding.

The deal will make Moser Baer a volume manufacturer of SolFocus products and the exclusive distributor of SolFocus’ solar panels in India and neighboring countries.

PRNewswire reports that Silicon Valley’s SunPower Corporation has announced that the Los Altos Hills’ Town Hall has generated more than 45,000 Kilowatt-hours of electrical energy in its first year of using SunPower’s high-efficiency solar panels.

The system includes 23 kilowatt AC solar panels mounted on the roof and 7 kilowatt AC panels mounted on the ground. The 30 kilowatt system uses 176 solar panels, reducing carbon dioxide emissions and airborne particulates.

RenewableEnergyAccess.com reports that SolarAid, a UK-based solar-energy charity with the goal of relieving poverty through the use of solar energy, is carrying out plans for a project in Malawi.

SolarAid installs photovoltaic solar systems in community centers, medical clinics and schools while training local communities in how to produce small solar-powered devices such as radios and lanterns, which can be sold for profit.