Solar Energy Investing

Alternative Energy reports across the globe 40% of companies have installed are are looking to install a renewable energy source.  The international study shows that companies are looking to solar power and other sources to reduce their rising energy costs and to address environmental issues.

ABC.net.au reports Professor Stephen Lincoln of Adelaide University says solar panel installation will repay the energy it took to install within three years.  He is encouraging Australia to tap into their sun resources heavily as the sun can provide 10,000 times the amount of energy than can be used in a year.  The Australian Federal Government recently placed a $100,000 household income cap on solar energy rebates.

de.indymedia.org reports over the next three years renewable energy will receive have as much governmental money as coal companies in Australia.  While money has been allocated in the budget for incentives for households using renewable energy, it is limited to several thousand homes and businesses.  The Finance Minister did reveal a strategy to reduce businesses carbon footprints.

The Courier reports the feed-in tariff proposed in Victoria, Australia would pay residents who had a solar power system installed for every unused kilowatt hour.  This program would not apply to those systems that produce over 2 kilowatts, which means it is unlikely there will be any kilowatt hours to pay back.  Even so, the Energy and Resources Minister says this program will encourage homeowners to install solar systems.  Queensland has instated a similar program, but allows residents to have systems up to 10 kw.

Compoundsemi Online reports Solar Systems of Melbourne, Australia signed a $290 million development agreement with TRUEnergy to develop a solar photovoltaic power station in Victoria, Australia.  This agreement will help fund one of the largest solar manufacturing facilities and has allowed Solar Systems to be part of a 10 year agreement to support photovoltaic power technology across the Asia Pacific Partnership countries.

ABC Science reports Australian National University professor, Dr. Prest, supports introducing a higher rebate for homeowners who sell their solar power to the grid, but he’s afraid the government will back down on its proposal.  The Chief Minister responded to say they will not be backing down.  The government will have to introduce a feed-in tariff, but they are looking at doing it in a way that won’t affect the poor.

The A to Z of Optics reports TRUEnergy will sign a $290 million agreement with Solar Systems to gain 20% ownership of the world’s largest and most efficient photovoltaic station.  Construction is expected to begin in 2009 in Victoria, Australia and the station will produce 154MW of solar power to provide 45,000 homes with electricity.  During construction, the station will create 950 new jobs.

HeraldSun.com.au reports King Island, Australia will receive 6 solar arrays.  These arrays are a joint venture between CBD Energy and Hydro Tasmania.  Combined with an expanded wind farm, the arrays will produce 2.5MW of energy.  Each one will have a carbon block unit to store electricity as heat and release it again. 

ABC News reports Alice Springs Solar Cities Project has a new manager, Brian Elmer, who says three new staff are being recruited to get some projects started.  Alice Springs is receiving $12 million in Commonwealth fund as Australia’s fourth solar city.

qbr reports on a resort near Townsville that is Australia’s first 100 percent solar powered and carbon neutral tourism operator. Hidden Valley Cabins and Tours on the Paluma Range is leading the nation in environmental initiative.