This year is proving to be the year of investing in innovative energy technology.  Mercom Capital Group reports that in the first half of 2017,  over $1 billion in venture capital and private equity funding has been invested in battery storage, smart grid and energy efficiency companies worldwide, exceeding the first-half funding benchmarks in 2014, 2015, and 2016.

Mercom Capital Group, a global clean energy communications and consulting firm, surveyed the combined venture capital funding (including private equity and corporate venture capital) and mergers & acquisitions across 89 companies in three separate sectors – Battery Storage, Smart Grid, and Energy Efficiency. Total investments in these areas amounted to $1.03 billion across the first half of 2017, a marked 25% jump from $807 million in the first half of 2016.

Continue Reading Global Funding in Sustainable Energy Tops $1 Billion in First Half of 2017

On June 2nd, the New York State Energy Research and Development Authority (NYSERDA) and the New York Power Authority (NYPA) issued record requests for proposals from qualified developers to build renewable energy projects that will generate 2.5 million megawatt-hours (MWh) of electricity a year. The two requests combined total the largest renewable RFP issued in any state. Alliance for Clean Energy New York estimates that the solicitation “will drive between 600 and 1,600 megawatts of new capacity depending on the mix of technologies ultimately developed.”

Continue Reading NYSERDA and NY Power Authority Seek to Fund Proposals for New Clean Energy Projects: First Round Submissions Due July 13th

With President-Elect Donald Trump and his administration officially moving into the White House this Friday, the landscape of energy policy, investment, and incentives could see major changes in 2017. Given this backdrop, it seems like a good time to review some of the most important trends and policies concerning clean energy that we covered in 2016.

Here are 2016’s top 5 most popular blog posts at Energy Tech Matters:

Continue Reading Year in Review: The Most Popular Blog Posts of 2016

On December 15, 2016, the MIT Energy Initiative (MITEI) released an in-depth research report providing guidance for the evolving electric power sector. The MITEI report, The Utility of the Future, proposes major regulatory, policy, and market overhauls to electric power systems around the world for efficient integration of distributed and centralized energy resources. Through a set of analysis-based recommendations, the comprehensive study has two overarching proposals: the development of a comprehensive system of prices and regulated charges that apply to all network users, and the removal of inefficient barriers that currently impede the integration and competition of distributed and centralized resources. To learn more about MITEI’s report, read on! Continue Reading MIT Energy Initiative Releases Report for Evolving Electric Power Sector

On November 17, the Federal Energy Regulatory Commission (FERC) released a new rule proposal that could help push U.S. energy markets to adopt energy storage systems at a faster pace by allowing distributed energy resources (DERs), including batteries, solar panels, and energy demand management software, to compete in wholesale energy markets. To learn more about how this could change U.S. energy markets, read on!

Continue Reading FERC Wants to Open Up Energy Markets to Distributed Energy

We are thrilled to announce that our very own Sahir Surmeli will be speaking at the second annual U.S. Energy Storage Summit. This unique conference brings together utilities, financiers, regulators, technology innovators, and storage practitioners for two full days of data-intensive presentations, analyst-led panel sessions with industry leaders, and extensive high-level networking. This conference will leave participants with a strong understanding of the business strategies, regulatory circumstances and economic opportunities set to drive continued energy storage market growth.

Mintz Levin is a proud partner of this event. Join us with GTM December 7-8 in San Francisco, CA using our exclusive discount code MINTZ15 for 15% off your conference registration.

All kinds of companies are using batteries to cut expenses and reduce demand for new power plants. Over the past few years, there has been a major upward tick in the number of U.S. companies that have started installing batteries to store electricity for later use.

Last year, Cargill Inc. reported that it had installed two megawatt-hours of batteries to provide extra power at certain times of the day at its plant in Fresno, California. The batteries are expected to help save about $100,000 a year on power expenses. More recently, J.C. Penney Co. Inc. announced that it had installed batteries in six of its Southern California stores and has plans to install batteries at three additional stores this year as well as 14 more next year. The batteries provide about 35 kilowatts of power for roughly two hours, which translate into $6,000 a year on savings on its power bills. To learn more about the upward trend in battery installations and use, read on!

Continue Reading Companies Tap Into Battery Power to Cut Energy Bills

In 2009, the U.S. Department of Energy (DOE) created its Advanced Research Projects-Energy (ARPA-E) division to fund energy storage projects conducted by scientists at Harvard, MIT, Stanford, and the Lawrence Livermore and Oak Ridge labs. The DOE now believes that some of the 75 battery system projects it is currently funding have the ability to transform the renewable energy storage industry in as little as 5-10 years. To learn more about these breakthrough technologies, read on!

Continue Reading “Holy Grail” of Renewable Energy Storage is Fast-Approaching

Last Sunday, the Massachusetts Legislature passed a compromise energy bill to significantly increase electricity produced by renewable energy sources. The state’s utilities will be required to purchase power from on and offshore wind farms, as well as power from hydroelectric dams located largely in Canada. Governor Baker is expected sign the bill in short order, as he has strongly supported purchasing imports of clean energy. To learn more about this bill, read on!

Continue Reading Massachusetts Legislature Passes Compromise Energy Bill

In a recent study published in the journal Nature Climate Change, researchers at Massachusetts Institute of Technology (MIT) found that it currently makes economic sense to combine large-scale energy storage systems with renewable energy projects, such as wind and solar farms, in some locations. However, this window of opportunity for investment may not last. The research team concluded that as the cost of wind and solar power systems decreases, the cost of storage systems must also come down. Otherwise, at some point it will be more profitable to add more generating capacity rather than more storage capacity. Read on for more details on the study, including the states examined and a comparison of the costs of different storage technologies.

Continue Reading MIT Study Finds Energy Storage For Renewables Makes Economic Sense in Some Locations