A young startup is building a business around installing solar panels and batteries. Innovation in the energy industry isn’t just about new technologies, it’s about new business models, too.
California is set to become a large energy storage market, and that has prompted bankers to figure out whether they could make money from it. Wells Fargo plans to get answers from its own pilot project.
Will Kickstarter come through for an energy entrepreneur looking for funding for a next-gen energy storage device? A startup called Velkess is looking for $54,000 to build a large prototype of a new type of flywheel, which is a like a spinning kinetic battery.
The past year has been difficult for solar panel makers as many of them shuttered factories and filed for bankruptcies. The latest sign of this bleak time comes from a Tuesday announcement by Abound Solar, which is now suspending production and letting go of 180 workers.
As a result of the bankruptcies of Solyndra and Beacon Power, the Department of Energy’s Loan Guarantee Program is now under heavy scrutiny. But a new Bloomberg report digs into the numbers and finds the program is a lot more successful than it has seemed.
Beacon Power, the flywheel maker that filed for bankruptcy last month after winning a $43 million loan guarantee from the Department of Energy, announced on Saturday that it plans to sell its 20 MW flywheel plant in Stephentown, New York, to pay back the DOE loan.
The Federal Regulatory Energy Commission recently passed a new rule for frequency regulation to support emerging technologies that can provide quick bursts of power to the grid. We break down what this new rule means and who will benefit.
There’s been a similar sentiment from both companies that received loan guarantees from the Department of Energy and then declared bankruptcy: The terms of the loans were too onerous.
The woes of battery maker Ener1 keep piling on. Following on the heels of its loss on electric car maker Think, the company’s CEO stepping down, and its planned restatement of its earnings, Ener1 has now officially been delisted from the Nasdaq.
The bankruptcy of Beacon Power will likely draw attention to the flywheel industry, as Beacon was one of the better known companies in that field. So what exactly are flywheels for energy storage, and why do companies buy them? Here’s what you need to know: