Real Goods Solar, Inc (NASDAQ:RSOL) gigantic solution for Saint Albans, First Solar, Inc (NASDAQ:FSLR)
St. Albans Solar Partners, LLC has selected Real Goods Solar, Inc. (NASDAQ: RSOL), for deployment of a new 2.2 MW solar-farm in Saint Albans. It will be Vermont’s largest PV system. RSOL will be designing, installing, monitoring and maintaining the solar power system. The construction for this project is slated to start next month and should be completed by November. It is expected that the fixed array ground-mount solar system will generate power that will suffice to provide electricity for 400 homes.
This will also help Vermont achieve its goal of using 20 percent renewable energy by the year 2017. Over the next two and a half decades, it is estimated that the solar energy that will be produced will offset over 123M pounds of CO2 emissions which will be equivalent to planting over 1.4M trees.
The Obama plan
Obama has directed the Interior Department to issue permits for 10 GW of renewable-energy on public land, which will double renewable-energy generation by the year 2020. The Defense Department, which is the largest energy consumer in the United States, also plans on installing 3 GW of renewable-energy by 2025 which will suffice to power 2.4M homes. In focusing on power plants, the Obama administration is taking one of the biggest contributors to greenhouse-gas emissions, by its horns. As per the U.S. Energy Information Administration, 40% of CO2 emissions in the U.S and 1/3rd of all greenhouse gases are generated by electric power plants,
Solar companies benefit
The largest solar power plant maker in the world, First Solar Inc. (FSLR) as well as
SunPower Corp. (SPWR) will definitely gain from President Obama’s proposal for curbing emissions from all coal-fired utilities. According to the CEO of the Solar Energy Industries Association, Rhone Resch, in the first quarter of 2013, solar addition to the grid exceeded that of any other source and over 30 utility-scale solar projects are underway.
The rules for new power-plants that have been proposed by the EPA, under Clean Air Act’s authority have been delayed indefinitely delayed. The president plans to set new on the agency and 20 Sept will be the new deadline for additional power plants. A proposal for existing plants will have to be released by June 2014.