Alternatively, SRECs allow for a market mechanism to set the price of the solar generated electricity subsity. In this mechanism, a renewable energy production or consumption target is set, and the utility (more technically the Load Serving Entity) is obliged to purchase renewable energy or face a fine (Alternative Compliance Payment or ACP). The producer is credited for an SREC for every 1,000 kWh of electricity produced. If the utility buys this SREC and retires it, they avoid paying the ACP. In principle this system delivers the cheapest renewable energy, since the all solar facilities are eligible and can be installed in the most economic locations. Uncertainties about the future value of SRECs have led to long-term SREC contract markets to give clarity to their prices and allow solar developers to pre-sell and hedge their credits.
Since you are working hard to read this rather lengthy article, here is some entertainment. The ‘intermission’ if you like. So, put your feet up and enjoy the next picture: It’s a prime example of much that is wrong with the small wind world. The fact that an installer would even consider installing in a place like that. Customers that are too uninformed to know better (and their installer clearly is not interested in educating them). Turbine manufacturers that deliver standard towers that are much too short to be effective; this tower plus turbine is just 23 feet tall! Then there is the claim by the manufacturer (dutifully parroted by the installer) that this turbine will offset “up to 30%” of their electricity bill. The last one is not really a lie I suppose: If in reality it offsets just 2% of the owners bill, technically that still falls within that “up to 30%”…
In the 1980s and early 1990s, most photovoltaic modules provided remote-area power supply, but from around 1995, industry efforts have focused increasingly on developing building integrated photovoltaics and power plants for grid connected applications (see photovoltaic power stations article for details). Currently the largest photovoltaic power plant in North America is the Nellis Solar Power Plant (15 MW). There is a proposal to build a Solar power station in Victoria, Australia, which would be the world's largest PV power station, at 154 MW. Other large photovoltaic power stations include the Girassol solar power plant (62 MW), and the Waldpolenz Solar Park (40 MW).
Green Pricing is an optional utility service for customers who want to help expand the production and distribution of renewable energy technologies. With green pricing, you do not have to change your electricity provider. Instead, customers choose to pay a premium on their electricity bill to cover the extra cost of purchasing clean, sustainable energy. As of March 2006, more than 600 utilities, electricity providers in 36 states offer a green pricing option.
Renewable energy variability is a problem for corporate buyers. But what is undesirable to buyers is attractive for insurance companies, whose core business revolves around managing weather-related risks. VFAs sit on top of a new or existing PPA and are effectively designed to pay the corporate buyer when they’re getting less renewable power than they contracted for, and give money to the insurer when there’s more.
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Renewable energy resources exist over wide geographical areas, in contrast to other energy sources, which are concentrated in a limited number of countries. Rapid deployment of renewable energy and energy efficiency is resulting in significant energy security, climate change mitigation, and economic benefits. The results of a recent review of the literature concluded that as greenhouse gas (GHG) emitters begin to be held liable for damages resulting from GHG emissions resulting in climate change, a high value for liability mitigation would provide powerful incentives for deployment of renewable energy technologies. In international public opinion surveys there is strong support for promoting renewable sources such as solar power and wind power. At the national level, at least 30 nations around the world already have renewable energy contributing more than 20 percent of energy supply. National renewable energy markets are projected to continue to grow strongly in the coming decade and beyond. Some places and at least two countries, Iceland and Norway generate all their electricity using renewable energy already, and many other countries have the set a goal to reach 100% renewable energy in the future. For example, in Denmark the government decided to switch the total energy supply (electricity, mobility and heating/cooling) to 100% renewable energy by 2050.
The political purpose of incentive policies for PV is to facilitate an initial small-scale deployment to begin to grow the industry, even where the cost of PV is significantly above grid parity, to allow the industry to achieve the economies of scale necessary to reach grid parity. The policies are implemented to promote national energy independence, high tech job creation and reduction of CO2 emissions. Three incentive mechanisms are often used in combination as investment subsidies: the authorities refund part of the cost of installation of the system, the electricity utility buys PV electricity from the producer under a multiyear contract at a guaranteed rate, and Solar Renewable Energy Certificates (SRECs)
Biomass is biological material derived from living, or recently living organisms. It most often refers to plants or plant-derived materials which are specifically called lignocellulosic biomass. As an energy source, biomass can either be used directly via combustion to produce heat, or indirectly after converting it to various forms of biofuel. Conversion of biomass to biofuel can be achieved by different methods which are broadly classified into: thermal, chemical, and biochemical methods. Wood remains the largest biomass energy source today; examples include forest residues – such as dead trees, branches and tree stumps –, yard clippings, wood chips and even municipal solid waste. In the second sense, biomass includes plant or animal matter that can be converted into fibers or other industrial chemicals, including biofuels. Industrial biomass can be grown from numerous types of plants, including miscanthus, switchgrass, hemp, corn, poplar, willow, sorghum, sugarcane, bamboo, and a variety of tree species, ranging from eucalyptus to oil palm (palm oil).
From the end of 2004, worldwide renewable energy capacity grew at rates of 10–60% annually for many technologies. In 2015 global investment in renewables rose 5% to $285.9 billion, breaking the previous record of $278.5 billion in 2011. 2015 was also the first year that saw renewables, excluding large hydro, account for the majority of all new power capacity (134 GW, making up 53.6% of the total). Of the renewables total, wind accounted for 72 GW and solar photovoltaics 56 GW; both record-breaking numbers and sharply up from 2014 figures (49 GW and 45 GW respectively). In financial terms, solar made up 56% of total new investment and wind accounted for 38%.
A parabolic trough consists of a linear parabolic reflector that concentrates light onto a receiver positioned along the reflector's focal line. The receiver is a tube positioned along the focal points of the linear parabolic mirror and is filled with a working fluid. The reflector is made to follow the sun during daylight hours by tracking along a single axis. Parabolic trough systems provide the best land-use factor of any solar technology. The SEGS plants in California and Acciona's Nevada Solar One near Boulder City, Nevada are representatives of this technology.