systems

U.S. Sen. Jon Ossoff, D-Ga., announced Tuesday how the solar energy generation bill he sponsored will benefit Georgians and the nation.

The new law — part of a broader package of tax, energy and health care reforms passed by Congress earlier this month — would provide tax credits to stimulate American solar technology manufacturing.

“This will increase the production of domestic solar products,” Ossoff said. “As the demand for these products continues to grow, we want to make sure that these products are made here in Georgia and here in the United States.”

Ossoff said increasing renewable energy production is critical to America’s national security and energy independence. According to him, the law will create thousands of jobs.

Qcells North America – a solar technology company – has a solar manufacturing plant in Dalton that employs 750 people.

Scott Moskovitz, the company’s head of market strategy, said that the company plans to hire about 500 more workers as a result of the new law.

Ossoff also discussed the new electric vehicle tax credits included in the legislation. Some critics said the loans would not benefit enough people.

“Part of the credit is based on the location of the final assembly vehicle, [and] part of it is based on the composition of the battery,” Ossoff said. “This is a compromise reached in the Senate.”

Ossoff said his office will continue to monitor the implementation of EV tax credits to ensure they benefit more people.

No Related Information.

© 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively “MOODY’S”). All rights reserved.

Credit ratings issued by Moody’s credit rating, affiliates, Moody’s (collectively, “publications (collectively”)) are current views of the relative future credit risk of loans, credit obligations or debt securities, materials, products, services and information. Ideas may be included. Moody’s does not turn to the risk of fulfilling the importance of fulfilling the agreement? Moody’s Credit Risk Contracts for information on types of financial liby. Credit racks of liquidity risk, market value It is not limited to risk or price traps. Credit rates, non-credit prices (“assessments”) and other reviews included in the publication of the Moody’s publication, as well as historical facts, as well as credit risk quantitative model-based estimates and MOODY’ S ANALYTICS, INC. AND/OR MAY INCLUDE RELATED OPINIONS OR COMMENTS PUBLISHED BY ITS ACTIVITIES. Moody’s credit ratings, ratings, other opinions and publications do not constitute investment or financial recommendations or financial recommendations or financial recommendations, and moody’s credit ratings, ratings, other opinions and publications are not and do not constitute recommendations to buy, sell or hold any particular securities . MOODY’S CREDIT RATINGS, RATINGS, OTHER OPINIONS AND PUBLICATIONS DO NOT REPRESENT THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. Moody’s provides credit ratings, appraisals and other opinions, and issues publications with an assessment and understanding of each security considered for purchase, holding or sale by each investor, at the request of each investor.

Moody’s credit ratings, assessments, other opinions and publications are not intended for use by retail investors, and retail investors may be unwarranted and inappropriate for use by investors’ credit ratings, assessments, evaluations, other opinions or in making an investment decision. IF IN DOUBT, YOU SHOULD CONSULT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISOR.

All information contained herein is protected by law, including copyright law, but no such information may be copied or otherwise copied, transmitted, transmitted, disseminated, disseminated, assembled, redistributed, redistributed, reconstructed, reconstructed or used for any SUCH PURPOSE, in whole or in part, in any form or manner or by any means, BY ANY PERSON WITHOUT THE PRIOR WRITTEN CONSENT OF MOODY’S.

Moody’s credit ratings, assessments, other reviews and publications are not controlled by each person as a bencmark, that this term has been identified for regulatory purposes and a personality should be displayed.

All information contained herein is obtained from sources believed by MOODY’S to be accurate and reliable. Due to the possibility of human or mechanical error, as well as other factors, all information contained herein is provided “AS IS” without warranty of any kind. MOODY’S takes all necessary measures to ensure that the information it uses in determining the credit rating is of sufficient quality and is obtained from sources that MOODY’S considers reliable, including, where appropriate, independent third-party sources. However, MOODY’S is not an auditor and in each case cannot independently verify or confirm the information received in the rating process or in preparing its Publications.

To the extent permitted by law, MOODY’S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim any liability to any person or entity for any indirect, special, consequential or incidental losses or damages. MOODY’S OR ANY OF ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, REPRESENTATIVES, LICENSORS OR SUPPLIERS MAY NOT USE OR USE THE INFORMATION CONTAINED HEREIN OR ANY SUCH INFORMATION EVEN IF ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES. failure to know, including but not limited to: (a) any loss of current or prospective profits or (b) any loss or damage arising if the relevant financial instrument is not subject to a specific credit rating assigned by MOODY’S.

TO THE EXTENT PERMITTED BY LAW, MOODY’S AND ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, REPRESENTATIVES, LICENSORS AND SUPPLIERS WILL NOT BE LIABLE FOR ANY DIRECT OR COMPENSATORY LOSS OR DAMAGE TO ANY PERSON OR ENTITY, INCLUDING BUT NOT LIMITED TO ANY NEGLIGENCE disclaim liability for (but not limited to) fraud, willful misconduct or any circumstances beyond MOODY’s or any of its directors, officers, employees, or circumstances beyond its control, which cannot be excluded by law for the avoidance of doubt excluding any other type of liability., agents, representatives, licensors or suppliers, arising out of or in connection with the use or inability to use the information contained herein or any such information.

NO WARRANTY IS MADE AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY CREDIT RATING, VALUATION, OTHER OPINION OR INFORMATION.

Moody’s Investors Service, Inc., a wholly owned credit rating agency subsidiary of Moody’s Corporation (“MCO”). hereby discloses that the majority of issuers of debt securities (including corporate and municipal bonds, bonds, notes and commercial paper) and preferred stock are Moody’s Investors Service, Inc. agreed to pay Moody’s Investors Service, Inc. fees ranging from $1,000 to approximately $5,000,000 for credit rating opinions and services rendered by Moody’s Investors Service, Inc. prior to any credit rating being assigned. MCO and Moody’s Investors Service also maintain policies and procedures to address the independence of Moody’s Investors Service credit ratings and credit rating processes. Information regarding certain affiliations that may exist between MCO’s directors and rated entities, as well as entities that have credit ratings from Moody’s Investors Service and also publicly report to the SEC an ownership interest in MCO of more than 5%, is published annually at www. . .moodys.com under the heading “Investor Relations – Corporate Governance – Director and Shareholder Policy”.

Additional conditions for Australia only: Any publication of this document in Australia by MOODY’S affiliate, Moody’s Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moody’s Ltd. P76969 and/or Moody’s Ltd. Complies with Analytics’ Australian Financial Services License. 383569 (as applicable). This document is intended for supply only to “wholesale customers” within the meaning of section 761G of the Corporations Act 2001. By continuing to access this document from within Australia, you represent to MOODY’S that you are or are accessing the document as an applicant. Neither you nor the entity you represent will directly or indirectly distribute this document or its contents to “retail customers” within the meaning of section 761G of the Corporations Act 2001. MOODY’s credit rating is an opinion. with respect to the creditworthiness of the issuer’s debt obligation and not of the issuer’s equity securities or any securities available to retail investors.

Additional terms for Japan only: Moody’s Japan KK (“MJKK”) is a wholly-owned credit rating agency subsidiary of Moody’s Group Japan GK and wholly owned by Moody’s Overseas Holdings Inc., a subsidiary of MCO. Moody’s SF Japan KK (“MSFJ”) is a wholly owned credit rating agency subsidiary of MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization (“NRSRO”). Therefore, credit ratings assigned by MSFJ are non-NRSRO credit ratings. Non-NRSRO Credit Ratings are assigned by a non-NRSRO entity and, as a result, the rated obligation will not qualify for certain types of treatment under US law. MJKK and MSFJ are credit rating agencies registered with the Financial Services Agency of Japan and their registration numbers are FSA Commissioner (Ratings) No. 2 and No. 3, respectively.

MJKK or MSFJ (as the case may be) hereby declares that any loan of most issuers of debt securities (including corporate and municipal bonds, bonds, notes and commercial paper) and preferred stock (as applicable) rated by MJKK or MSFJ agreed to pay MJKK or MSFJ fees ranging from JPY 100,000 to approximately JPY 550,000,000 for credit rating opinions and services rendered by it before the rating was issued.

MJKK and MSFJ also maintain policies and procedures to meet Japanese regulatory requirements.

.

Workers install solar panels on the roof of the Central de Abastos wholesale market as part of a rooftop solar project by the local government to become the world’s largest urban solar farm, Mexico City, Mexico July 27, 2022.REUTERS/Luis Cortes/File Photo

Sign up now for FREE unlimited access to Reuters.com

Sign up

MEXICO CITY, Aug 22 (Reuters) – As alternative energy projects stall in Mexico due to controversial energy reforms, companies are turning to smaller-scale renewable options that allow businesses to cut carbon emissions, avoiding a fight with Mexican regulators.

Solar companies and energy analysts say they are seeing an unprecedented increase in smaller and less regulated distributed generation (DG) solar projects in Mexico with a cap of 500 kilowatts – enough to power about 200 households.

Bread maker Grupo Bimbo ( BIMBOA.MX ) and French energy firm Engie ( ENGIE.PA ) are among the growing number of DG applicants. While these projects often provide only 10% or 20% of the company’s energy needs, they currently appear to be “the only game in town,” according to Andres Friedman, CEO of Canadian-Mexican solar startup Solfium.

Sign up now for FREE unlimited access to Reuters.com

Sign up

Even with the projected explosive growth in DG, analysts doubt it will be enough to successfully address Mexico’s energy transition, given government policies favoring electricity from fossil fuels.

But for many companies, they are the best option, as DG projects do not require a generation permit and approval takes weeks, compared to months or years for utility-scale projects. It is likely to remain that way – at least for now – said analysts who do not foresee changes in DG regulation in the near future.

As BTicino customers of German industrial manufacturer Prettl and Legrand Group (LEGD. PA).

AMLO’S REFERENCE TO OVERSIGHT THE ENERGY SECTOR

Mexico is at loggerheads with key trading partners the United States and Canada over President Andres Manuel Lopez Obrador’s initiative to strengthen state control of the energy market. The United States has called for talks with Mexico to resolve the dispute, arguing that the move is unfair to US companies and likely violates a regional trade agreement. read more

Lopez Obrador’s pursuit of at least nine major projects of more than 1,000 megawatts (MW) by major developers such as German company BayWa ( BYWGnx.DE ) and Italy’s Enel ( ENEI.MI ) has sown deep uncertainty in the renewable energy sector. According to Valentina Izquierdo, a Mexican solar analyst at Wood Mackenzie, they are waiting for approval from the state energy regulator.

Spain’s Iberdrola ( IBE.MC ) already has a 100MW wind farm under construction and has been denied a generation permit.

The vast majority of distributed generation projects in Mexico rely on on-site, easy-to-install solar panels rather than large wind turbines.

“Commercial and industrial customers in Mexico currently have no other options, so this has pushed more customers into the DG market,” Izquierdo said.

Enlight, a Mexican solar company that focuses on DG projects for industrial customers, said it has customers considering using renewable energy from larger sources, but the political climate has pushed them to DG as a more proactive step toward their ESG commitments.

“There’s been tremendous growth for these types of customers, certain industries with very aggressive decarbonization goals, like the automotive industry,” said Oscar Garcia, chief development officer at Enlight, which works with Grupo. Bimbo.

Sector experts have estimated that the investments of the Head Office in Mexico in the last eight years have exceeded 3.5 billion dollars, and another 500 million dollars are expected by the end of this year.

Green Party (PVEM) lawmaker Nayeli Arlen Fernandez Cruz has also attempted to increase the threshold for DG projects, which is lower than countries such as Brazil and Colombia, to double the capacity to 1 MW.

Mexico’s latest electricity development plan for 2022-2036 delays the country’s commitment to get 35% of its energy from renewable sources by 2024 by seven years. Now he says it will only be possible until 2031.

But DG is still emerging as a key area of ​​growth in renewables—the best-case scenario is projected to reach about 16,500 cumulative megawatts by 2036, an increase of about 725%. In contrast, scenarios for utility-scale solar or wind projects were not included, a sign that the government may continue to hold them back.

“This allows us to comment on whether multiple permits can be issued for utility-scale renewable energy projects,” said Maria Jose Trevino, country manager at Acclaim Energy, a consulting firm.

Sign up now for FREE unlimited access to Reuters.com

Sign up

Reporting by Cassandra Garrison; Edited by Stephen Eisenhammer and Marguerita Choy

Our standards: Thomson Reuters Trust Principles.

Cassandra Garrison

Thomson Reuters

Mexican reporter focusing on climate change and companies with an emphasis on telecommunications. Formerly based in Santiago de Chile and Buenos Aires, Argentina’s debt crisis includes the US-China influence struggle in Latin America and the coronavirus pandemic.

×

Your news is on your way

Subscribe to get important daily news from City AM’s best stories delivered to your inbox.

By subscribing to our newsletters, you agree to our Terms and Conditions and Privacy Policy.

For about half an hour Friday, the national energy market got a glimpse of what a renewable-powered future might look like.

Key points:

Solar power overtook coal as the leading energy source in the energy market for about half an hour on Friday. Most of the power came from rooftop solar panels, not large-scale solar farms. Energy experts say that’s a sign of things to come. Australia is transitioning to renewable energy

Solar has overtaken coal as the leading energy source in the energy market, covering all states and territories except Western Australia and the Northern Territory.

It wasn’t the first time, but experts said it was the first time it had happened under relatively “normal” conditions.

It wasn’t caused by a lack of coal-fired power, and it happened outside of the sunniest time of the year.

This is especially important, said Joshua Stabler of energy consulting firm Energy Edge.

“This is the first time in business as usual that we’re seeing coal dethroned. [the] is the number one source of fuel on the market,” he said.

“Coal accounted for 80 or 90 percent of the energy coming to the market.

“That means it’s a big event.”

The milestone occurred at lunchtime on Friday, with solar accounting for about 40 percent of the market share and coal at 38 percent.

At that time, wind was the third largest source of energy, followed by water and gas.

In total, renewables provided 60 percent of the market’s power.

Energy experts say this is a clear sign of things to come.

Spring is the time for the sun to shine

Mr. Stabler said such moments, when coal takes a clear backseat in electricity generation, will become more common, especially at this time of year.

He said the perfect conditions are lots of sun and relatively mild temperatures.

“This is the first of many such events,” he said.

“Any kind of spring-work period, what we have is a lot of sun in the sky and not a lot of demand.

“What we’re going to see is more cases where solar becomes the number one generator in the market in September and October and March and April.”

Australia’s electricity grid is still dominated by coal during the evening peak, but experts say it’s a solvable problem. (Reuters: Loren Elliott)

Most of the energy came not from large-scale solar farms, but from rooftop solar panels installed on top of homes and businesses.

During the evening peak when solar sources are not available, coal still dominates the grid.

But Richie Merzian, of the progressive think tank Australia Institute, said it could be solved by transforming the energy grid.

“We can generate more energy on our rooftops in our communities, we can integrate more large-scale renewables, but we need a grid that can accommodate that,” he said.

“If we have the right parameters, renewable energy will fill that gap and provide us with cheaper energy.”

Mr. Merzian cited the federal government’s planned $20 billion investment in the national power grid as a promising start.

But he said for now, renewables will do more of the heavy lifting during the day.

“In the middle of the day, we’re seeing renewables continue to fill those key gaps,” he said.

“Renewable energy sources are 30 percent [of total annual generation in the NEM]but they will continue to grow dramatically.”