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Weekly Newsflash 5/28 – 6/1: Solar Stocks & the Renewable Boom

by Greentown Labs

This week in cleantech and energy news, plans are made to build America’s largest solar module factory, Wall Street warms up to solar companies, and Canada designates millions to cleantech startups.

What news have you been reading this week? Share with us @GreentownLabs!

 

The New York Times – How Big Companies Are Driving the Renewable Boom

  • Despite environmental regulation roll-backs and the U.S. withdrawal from the Paris Agreement, large companies continue to lead the clean energy revolution by seeking out more and more renewable energy opportunities.

“Dozens of Fortune 500 companies, from tech giants like Apple and Google to Walmart and General Motors, are voluntarily investing billions of dollars in new wind and solar projects to power their operations or offset their conventional energy use, becoming a major driver of renewable electricity growth in the United States.”

 

PV Magazine – Hanwha Q Cells to build America’s largest solar module factory in Georgia

  • The South Korean group plans to commence construction of a facility with an annual capacity of at least 1.6 GW near the border of Georgia and Tennessee by the end of this year, with completion slated for 2019.

“This is a greater annual capacity than either the factory that First Solar is planning for Ohio or the Tesla/Panasonic “gigafactory” in Upstate New York, and thus will be the largest in the Western Hemisphere.”

 

U.S. Energy Information Administration – Electric power sector consumption of fossil fuels at lowest level since 1994

  • U.S. consumption of fossil fuels for electric power is at its lowest level since 1994, according to the Energy Information Administration.

“In 2017, coal consumption by the electric power sector reached its lowest level since 1982, and petroleum consumption in the power sector was the lowest on record, based on data since 1949.”

 

U.S. News – New Offshore Wind Farm Project Will Dwarf Nation’s 1st One

  • A Rhode Island company is going to build a wind farm that will be 10 times the size of the nation’s first offshore wind farm.

“Raimondo called it a fantastic day for Rhode Island because of the amount of clean energy that will be produced and the number jobs created. She said Rhode Island can be an epicenter for the offshore wind industry.”

 

Greentech Media – It’s Been a Pretty Good Year So Far for Solar Stocks

  • Wall Street is warming up to the long-term potential of solar companies.

“A review of publicly traded solar and solar-adjacent companies shows strong improvement in share prices so far in 2018 for several, but not all. This comes at a time when the S&P 500 Index is back where it started the year, after a sharp rise and steep fall.”

 

Betakit – Canadian Government Invests $26.3 Million in Four Cleantech Companies 

“Our government’s investments in cleantech reflect our commitment to protecting the planet and growing our economy. They also point to a clear direction for economic development through innovation.”