Solar Energy

STATE COLLEGE, Pa. (WTAJ) – Center County Commissioners have approved a resolution to enter into a new 18-month contract with Direct Energy Business, LLC, meaning the proposed Solar Power Purchase Agreement could face potential delays.

The project aims to add solar arrays to Walker Township to power local school districts and utilities. With the new agreement, the project can be delayed to give the contractor more time to work on it.

Habitat for Humanity is holding an open house at the Central Hall

Administrator John Franek Jr. cited multiple “moving parts” as the driving factor behind the new deal. Those various parts require legal review and approval, which takes time, he said.

The project is part of the county’s goal of using 100% green energy, which would be a remarkable achievement.

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“I think we could be the second state in the state to have 100% of our energy from green sources,” said Commissioner Chairman Mark Higgins.

Mayor Mike Duggan, Director of Sustainability Tepfirah Rushdan and Council members Coleman A. Young II and Fred Durhal III at a press conference announcing the neighborhoods for Detroit’s solar energy plan. Green Text Box, modified with listing Detroit Mayor Mike Duggan touts the Gratiot-Findlay, State Fair and Van Dyke-Lynch neighborhoods as sites for possible solar arrays, along with DTE Energy and Boston-based Lightstar Renewables. Homeowners in five other neighborhoods slated for solar sites are being given a chance to sell their homes before the next three projects are selected in 2025. Duggan is still proposing to use $4.4 million in equity funds to buy homes from those in the five neighborhoods. intended for the next phase of projects.

Published in partnership with BridgeDetroit.

Three Detroit neighborhoods have been selected to host solar energy fields, which will help offset the energy used by city buildings, according to the city of Detroit.

Detroit Mayor Mike Duggan said at a news conference Monday that the Gratio-Findlay, State Fair and Van Dyke-Lynch neighborhoods have been selected for solar sites. About 104 hectares of solar energy will be used in the neighborhoods out of a total of 200 hectares planned over six projects. The city’s DTE Energy and Boston-based Lightstar Renewables each plan to develop three projects.

“Today, Detroit is taking a step toward a major national leadership role in the fight against climate change,” Duggan said at an event in the wake of the Gratiot-Findlay project.

“One hundred and twenty-seven city buildings currently operate on 33 megawatts per year of energy from conventional sources, mostly fossil fuels,” Duggan said. “In the next two years, we intend to build solar fields that will produce 33 megawatts of renewable energy, and we will efficiently generate all the energy for city buildings from solar fields.”

Duggan spearheaded the Neighborhood Solar Initiative to combat climate change and reduce illegal dumping by fencing off abandoned sites. But there was a flurry of community engagement around the plan, with some seeing it as a unique opportunity to clean up abandoned blocks and invest in neighborhoods, while others fear that large solar arrays could hurt property values ​​and further discourage investment.

Duggan said Monday that the program targets “some of the most disadvantaged areas of the city” and will “help neighborhoods that feel they’ve been forgotten.”

Homeowners in the footprint of the proposed solar sites would receive twice the fair market value of their homes or $90,000, whichever is higher, and tenants would receive 18 months’ rent to move out. Homeowners in the community benefit areas surrounding the projects will receive $15,000 to $25,000 each for energy efficiency upgrades.

A total of 21 homeowners will be relocated under the first three projects. The city will use the condemnation to acquire the properties of homeowners and vacant lots.

Duggan said 28 of the 31 homeowners in the five neighborhoods still slated for solar have already signed letters of intent to sell their homes. He proposed using a $4.4 million equity fund to buy those homes, which is funding from the Public Utilities Conversion Fund, which is legally required to be used for energy conversion. In addition, $14 million in capital expenditures for the initiative will be paid for with the fund.

The city expects total operating costs for the first three projects to reach $1.1 million a year after deducting energy credits and city utility savings for the area in the solar footprint.

Duggan said the Inflation Reduction Act reduced the cost of the program by 30% with automatic tax credits.

Detroit’s solar energy initiative could create jobs and clean up neighborhoods, residents say

Several Detroiters told Planet Detroit that the solar initiative could help clean up neighborhoods, help residents make important home repairs and create jobs in the city.

Gratiot-Findlay resident Donna Anthony said the solar panels would be a nice change from the misery in the neighborhood, where waste is a constant concern.

Anthony also hopes to pay for several home upgrades with the community benefits money, including a new furnace. But he said the program could have a bigger impact for those selling their homes.

“Some people have experienced so much crime, so much violence, so much misery,” he said. “And they don’t want to retire in a house or an area where they might be the only person on the whole block.”

Tammy Black, a Jefferson Chalmers resident and CEO of Communities Power, which installs solar panels in low-income neighborhoods, said she hopes the initiative will help the environment while creating good jobs for Detroiters.

“Young people, they don’t have a mission right now,” he said. “They are very concerned about everyday life.”

He said solar industry jobs can alleviate some of that economic stress and help educate the public about environmental action.

Some neighborhoods lack support for Detroit solar

Support for solar arrays in urban neighborhoods is not unanimous. Detroit scrapped plans for a project at Grixdale Farms after residents expressed concerns that solar fields could hurt property values ​​or add to blight and crime problems in the area where the project has no footprint.

A recent study of solar sites in California, Connecticut, New Jersey, Minnesota and Massachusetts found that properties within half a mile saw a 1.5% drop in values, although results varied by state.

Although experts say solar energy is crucial to combating the climate crisis, studies show that solar arrays can cause localized increases in temperatures. That could be a problem in Detroit, where the heat island effect, or the ability of hard surfaces to absorb and redistribute heat, can raise temperatures by 8 degrees or more.

A fall 2023 survey of 158 Michiganders by Michigan State University’s Energy Values ​​Lab found that residents would be more supportive of solar development if it reduced community energy costs, while less than half supported nearby solar projects.

Support was even lower near DTE’s 10-acre O’Shea Solar Park on Detroit’s west side, the city’s first large-scale solar development. Only one-third of residents near O’Shea supported the project, with respondents saying they favored housing over solar development by an 18-to-1 margin.

The Detroit solar plan still needs Council approval

After Grixdale Farms was considered for the solar project, Duggan spokesman John Roach told Planet Detroit that the remaining neighborhoods all have “tremendous support” for solar, both from homeowners who want to sell and from nearby neighbors.

The city council is currently reviewing the first three projects, which will require approval before land acquisition, community benefits and solar installation. The last three projects will be announced and presented to the city council in 2025.

Councilwoman Angela Whitfield Calloway said last week she supports solar fields in the city, but not in mostly Black neighborhoods or parks. However, Councilmen Coleman A. Young II and Fred Durhal III expressed support for the initiative at a news conference, while Duggan praised Councilman Scott Benson’s involvement in the project.

Durhal said the solar program is important to creating a cleaner environment for future generations and encouraged residents to talk to others about its potential.

“Promise your neighbor that we’re cleaning up Detroit now, we’re taking steps forward,” he said. “This is not old Detroit; we’re talking about the new Detroit.”

It’s an issue that divides communities and stymies lawmakers: Virginia’s clean energy transition depends on building thousands of acres of large solar installations, but the backlash from some rural neighbors makes deployment projects increasingly difficult.

Most of the objections are aesthetic — few people would rather look at rows of solar panels than they once enjoyed the countryside — but some opponents say they worry about the loss of farmland and trees. They fear that the sun is harmful to both the earth and the eyes. It doesn’t help that some early solar developments suffer from corner cuts resulting in soil compaction and erosion. If it’s the sun, a lot of people want no part of it.

In 2022, land conservation groups joined with agricultural and logging interests to lobby for legislation requiring mitigation when a solar project disturbs more than 50 hectares of forest or 10 hectares of “prime agricultural land.” House Bill 206 applies to any solar project developed under Virginia’s streamlined “permit by rule” process, which is available to all but the largest facilities.

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Ivy Main

The solar industry initially fought the legislation, joined by some climate advocacy groups. No other industry is subject to mitigation requirements, and solar provides more climate benefits than forests and agriculture, they noted. Moreover, the solar panels can be removed and the land returned to agriculture or forestry. In contrast, once the land is converted into a residential area or a strip mall or data center, the damage becomes permanent.

Ultimately, the solar industry accepted compromise language that pushed back the effective date to early 2025 and gave industry members a vote on an advisory panel under the auspices of the Virginia Department of Environmental Quality (DEQ). The law mandated the group to help develop “criteria for determining whether a proposed solar energy project would result in a significant adverse effect on agricultural land or forest land.” any mitigation plan. DEQ was to use the task force’s findings to formulate the regulations.

It turned out that the task force agreed on very little. Its 717-page report found consensus on only a handful of points, and left DEQ tasked with addressing key issues. On May 13, the agency published its proposed rules. The regulations are currently under executive review, after which stakeholders and the public will have an opportunity to comment.

Meanwhile, several things have happened since the passage of HB 206.

In March 2022, DEQ tightened stormwater regulations to address runoff and erosion problems that have given the sun a bad name in some communities. Based on that, the agency released a new stormwater handbook that will take effect July 1, 2024, and includes sections on solar energy development.

Some members of the solar industry complain that DEQ’s stormwater regulations are unduly burdensome, but no one questions the importance of preventing runoff and erosion. In any case, many companies are already using earth-friendly practices that make it easier to comply with stricter regulations. One is the use of terrain trackers, a technology that allows solar power to be installed on uneven terrain instead of bringing in bulldozers to level the terrain. Trackers maximize solar energy production in mountainous areas while protecting topsoil and vegetation.

The new tracker technology is among a suite of low-impact approaches gaining ground as the solar industry matures. DEQ encourages another ecological practice: planting native species between and around solar arrays. Native plants provide food and habitat for insects that have declined dramatically in recent years and threaten our ecosystem. While only a handful of solar projects have achieved DEQ’s pollutant-smart certification to date, most developers I’ve spoken to say they’re open to it.

The practice of using grazing animals for vegetation management is growing rapidly. The sheep have come to a good point: the project owners save money that people would otherwise have to spend on running machinery, and the sheep thrive in the shade of the solar panels and return nutrients to the soil. Already 2% of sheep in the U.S. are grazed under solar panels, according to a webinar by the American Solar Grazing Association, including several large Virginia facilities that provide power to Dominion Energy. Elsewhere, cattle graze beneath solar panels or crops grow between rows, further blurring the gap between solar installations and agricultural use.

Whole area trackers, topsoil protection, native plants and active farming or grazing: all these practices ensure that farmland is not “lost” to sunlight. However, the DEQ’s stricter stormwater regulations, the solar industry’s increasingly soil-friendly practices, and even the passage of HB 206 have not allayed concerns among solar opponents. Instead, rural counties stepped up the pace of bans, bans and moratoriums.

The reason for the continued hostility is not that the opponents are unfamiliar with the ways in which solar can be environmentally friendly, but rather that the main motivation of the opposition is not to protect farmland, it is suspected. If all they really care about is keeping solar from destroying the landscape (“preserving our rural heritage” is a euphemistic frame), then adding a new layer of mitigation requirements won’t change anything.

Admittedly, I have never supported HB 206. From an environmental perspective, solar energy is no worse for the soil than monoculture pine plantations or commodity crops grown with pesticides and petroleum-based fertilizers. When done in a habitat-friendly way, the sun can increase biodiversity and help the soil heal. The sun solves our CO2 problem, even more than trees.

Still, the DEQ’s job was to try to find a middle ground between the solar industry and its detractors, and to be fair, their efforts are getting some things right. The proposed rules recognize that solar installations have degrees of impact, and practices such as leaving topsoil undisturbed or integrating agrovoltaics should be rewarded with lower mitigation requirements. A neat chart describes the different levels of influence and suggests different levels of influence to match. Impact mitigation is mainly in the form of land allocation, but can also be satisfied with a per hectare payment.

And yet the proposal misses the mark on at least three fronts. First, it fails to give full credit to solar energy projects that minimize land disturbance and incorporate agrovoltaics. DEQ should recognize that adoption of best practices should eliminate the need for land allocations or monetary payments.

Second, the proposed regulations make no exceptions for projects owned and operated by local farmers who incorporate solar energy into their farming operations to increase and diversify their income without selling their land. If the point of HB 206 was to protect agriculture, DEQ missed the mark.

Finally, the dollar amounts that DEQ is offering in lieu of land allocations are punitively high with adverse effects. The solar company, which has to pay a stiff penalty, must pass this cost in the form of a higher price for the electricity produced. If a utility has to pay more for electricity, ratepayers ultimately foot the bill.

The alternative is equally counterproductive. I mentioned at the outset that DEQ’s regulatory permitting process is available to all but the largest projects, but it’s not the only path open to developers. Projects above 150 MW are required to go to the SCC for approval, but smaller projects are not barred. If DEQ makes its process too complicated, solar producers will go to DGK instead. The SCC requires the developer to obtain a local permit, but not to use land conservation, agrovoltaic or mitigation techniques.

It would be great if DEQ could turn the lemon that is HB 206 into the lemonade of a solar industry that embraces eco-friendly development practices and incorporates pollinator crops, sheep grazing, and other agrovoltaic businesses. What we have instead is a proposal that could kill the permit-to-rule program without actually turning lemonade into lemons without benefiting anyone.

There is still time to fix it. The DEQ may not be able to solve the solar wars, but a good set of rules can steer Virginia toward making the most of a solar industry that is vital to our future.

Ivy Main is an attorney and longtime volunteer with the Virginia chapter of the Sierra Club. A former employee of the US Environmental Protection Agency, he is currently the renewable energy chair of the Sierra Club. His views are his own and do not reflect those of any organization.

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Unlike Maine, Western Colorado has over 300 days of sunshine per year. That’s why, according to the Rocky Mountain Elk Foundation, “solar farms have started cropping up in northwestern Colorado, turning sagebrush into a bright sea of ​​photovoltaic energy panels surrounded by 8-foot fences—a total loss for elk, deer, and sage-grouse. And the Rocky Mountain West- pronghorns in the most productive winter range of

V. Paul Reynolds, Outdoors Columnist

In short, renewable energy, be it wind turbines or solar farms, is not without a significant downside. Wildlife managers in Colorado see all of these renewable energy initiatives as an immediate threat to wildlife due to the corresponding loss of wildlife habitat.

Maine is on a similar path. So far, our state has 3,185 solar panel farms and more are on the way. According to a recent report by Maine Public Radio, Penobscot County alone has many “requests” for new solar installations.

DEP approval is required for planned solar installations larger than three acres. Applicants must commit to a financing plan for decommissioning spent solar panels. The question hanging over these solar farms like a dark cloud is: “What will we do with these photovoltaic albatross when the panels are 20-25 years down the road?”

The new law, proposed by the Maine Sportsmen’s Alliance, is still being finalized, but would require new solar developers to either provide a “compensation area” equal to the size of the developed solar field or transfer money to a state compensation fund. for habitat protection.

Should taxpayers cover the cost of private landfills powered by solar panels, or will spent solar farms simply be left to rust on the side of the road like so many junk cars?

Concerned about this question, the municipalities of Ellsworth and Dixmont have at least temporarily banned these solar farms. Undoubtedly, as landscapes become more and more populated with solar panels and cyclone fences, more Maine cities will declare a solar farm hiatus until more satisfactory answers to the disposal question are received.

Aside from the visual pollution and decommissioning issues of spent solar panels, there’s another ancillary solar farm problem that doesn’t get much attention at the municipal or state level, except for the Rocky Mountain Elk Foundation: wildlife habitat loss and degradation.

I’ve heard many Mainers grumble under their breath about the futility of either wind turbines or those solar farms along the highways and roads of our once-scenic state, while acknowledging the need for clean renewable energy.

It seems to me that these solar installations are not only multiplying, but also expanding. Once an 8-foot cyclone fence is erected on three acres or 30 acres, it is no longer accessible to wildlife for nesting or foraging.

The rush to solar farms and renewable energy creates a paradox as we destroy habitat and wildlife in our earnest efforts to manage our carbon footprint. This debate is not over.

W. Paul Reynolds, editor of the Northwoods Sporting Journal, author, Maine guide and host of the weekly radio program, “Maine Outdoors,” is heard on The Voice of Maine News-Talk Network, Sundays at 7 p.m. Contact him at [email protected].

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According to Wood Mackenzie, global solar capacity is projected to triple by 2033 due to increasing demand for renewable energy solutions. NEXTracker (NASDAQ: NXT), a provider of innovative solar tracking technologies integral to the success of large-scale solar initiatives, is well positioned to participate in the industry’s continued growth.

By enabling solar panels to move in the direction of the sun, these technologies significantly optimize energy production, providing utilities and power generation projects with a significant return on investment (ROI). Notably, NEXTracker reported revenue growth of 42% to $737 million in the most recent quarter (4QFY24) and expected revenue growth of at least 12% in FY2025. The company’s shares have risen nearly 43% in the past year. Nevertheless, the shares are still attractively valued, cementing Nextracker’s position as an attractive growth fund in the renewable energy sector.

NEXTracker Enjoys Strong Demand

NEXTracker has firmly established itself as a leader in the development of effective solar tracking technologies and software. It is dedicated to making renewable energy accessible and affordable for all. Its integrated solar tracker and software solutions are used in utility-scale and globally distributed solar projects, enabling solar panels to track the sun’s path for optimal plant performance. The durability of Nextracker systems is reflected in their ability to adapt to uneven terrain and survive harsh weather conditions, thus increasing their durability and reliability.

The company recently acquired U.S. renewable energy company Ojjo, which specializes in infrastructure technology and services used for utility-scale ground-source solar power generation applications. Combined with NEXTracker’s intelligent solar tracker system, the acquisition provides a more comprehensive solution for engineering procurement companies and solar power plant developers, increasing project development, design and installation capabilities in a variety of soil conditions.

Since 2021, NEXTracker has expanded or established 20 new partner manufacturing facilities in the US, demonstrating its strong growth. The company’s global annual supply capacity currently exceeds 50 GW, including more than 30 GW in the United States.

NEXTracker ended fiscal year 2024 on a high note, achieving the milestone of 100 GW of shipments globally since inception. This significant achievement was accompanied by a record backlog of more than $4 billion, highlighting strong demand from both the US and international markets and underscoring the company’s strong growth trajectory.

Analysis of NEXTracker’s Recent Financial Statements

NEXTracker recently announced financial results for the fourth quarter ended March 31, 2024 and fiscal year 2024. Fourth-quarter revenue of $737 million was up 42% year-over-year and easily beat consensus expectations of $52.53 million. GAAP net income was $223 million, while adjusted EBITDA was up 120% year-over-year to $160 million. Adjusted EPS of $0.96 beat estimates by $0.31.

In fiscal 2024, the company posted an impressive 31% year-over-year revenue of $2.5 billion. Adjusted net income for the year was $451 million and adjusted diluted EPS was $3.06. The year witnessed operating cash flow of $429 million and adjusted free cash flow of $427 million.

Management issued full-year guidance for fiscal 2025, forecasting revenue of $2.8 billion to $2.9 billion. Adjusted EBITDA is estimated at $600 million to $650 million, and adjusted diluted EPS estimates range from $2.89 to $3.09.

What is the Price Target for NXT Shares?

Analysts following NEXTracker are cautiously optimistic about the stock. For example, HSBC analyst Sean McLoughlin recently cut his price target on the stock from $65 to $60, while maintaining a buy rating. He cited “strong” Q4 results and fiscal 2025 guidance, highlighting NEXTracker’s growth prospects in the US and international markets.

NEXTracker, Inc. rated a Strong Buy based on 16 buys and five holds in the past three months. NXT stock has an average price target of $60.68, suggesting a potential upside of 7.02% from current levels.

The stock has been somewhat volatile, with a beta of 1.94, although it has been in an overall uptrend for some time, having climbed over 86% over the past three years. It is trading at the high end of its 52-week price range of $32.14 to $62.31, while trading above its 20-day (55.67) and 50-day (52.67) moving averages, demonstrating continued positive price momentum. It trades at an attractive valuation relative to its industry peers, with a P/E (price-to-earnings) ratio of 18.12x, compared to the Solar industry average of 26.10x.

Final thoughts on NXT

NEXTracker’s presence in the rapidly growing renewable energy market makes it an attractive investment. Its unique solar tracking technologies and software solutions provide attractive ROI for utility and power generation projects. The company’s strong financial performance in the last quarter, expected growth of at least 12% for fiscal 2025 and an attractive current valuation further strengthen its investment appeal.

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