Written by Rafael Reyes Thursday, 20 December 2012 17:54
Adam Capital Clean Energy Asset Finance LLC of Sonoma announced the extension of a four million dollar line of credit from New Resource Bank of San Francisco. The extended line of credit will allow the clean energy finance firm to more effectively manage cash flow, and provides additional capacity to meet the ongoing demand for clean energy project funding. Adam Capital pioneered asset-based lending to rooftop-scale solar projects and has completed 474 projects to date by extending collateralized loans in the $500,000 to five million dollar range.Read more here.
Written by Rafael Reyes Monday, 17 December 2012 17:24
Redwood Shores-based Oracle Corp., the largest database-software supplier, agreed to purchase DataRaker Inc. to expand in smart-grid analytics platforms that enable water, power and other utilities to use data to increase efficiencies. “Smart-grid analytics software is an increasingly important area of investment and the acquisition follows several others in the sector over the last year,” said Maxime Serrano Bardisa, a water analyst at Bloomberg New Energy Finance.Read more here.
Written by Rafael Reyes Monday, 17 December 2012 17:23
SolarCity Corp., the solar power provider led by billionaire Elon Musk, raised $92 million in its initial public offering, 39 percent less than initially sought after selling the shares at a reduced price. The San Mateo-based company sold 11.5 million shares, equivalent to a 16 percent stake, for eight dollars each. The company is poised for growth, however, after completing the most equipment installations in California, the U.S.’s biggest solar-power market.Read more here.
Written by BACC Editor Thursday, 06 December 2012 18:58
New Guide Helps Local Governments Achieve Climate and Budgetary Goals
SAN JOSE, C.A., Dec. 6, 2012 – Today the Bay Area Climate Collaborative (BACC) and Energy Solutions are releasing Next Generation Streetlights: LED Technology and Strategies for Action, a comprehensive street lighting guide to provide local governments with the most current information on LED streetlight upgrades. LED streetlights can reduce power use and electricity costs by as much as 60 percent from incumbent lighting technologies.
The Next Generation Streetlights guide is co-authored by BACC and Energy Solutions, with input from CLTC and support from Public Financial Management, Inc. It is part of the Next-Generation Streetlight Initiative, which aims to provide leading-edge education, resources and support to accelerate streetlight upgrades in the Bay Area. The guide covers the benefits of lighting upgrades, an overview of the technology, and details on financing and implementation strategies. “The technology is moving very quickly, and it is important to get the most current information out to decision-makers,” says Professor Michael Siminovitch, Director of CLTC. “Features such as lighting controls merit close attention, so cities can maximize the value of their upgrades.”
In the first quarter of 2013, the BACC and CLTC will be providing individual consultation to select local governments in the Bay Area to address key questions and needs. “This is a good time for cities to act given the currently substantial incentives available, low cost of financing and very attractive payback times,” said Rafael Reyes, BACC Executive Director. “A city such as Hayward with 8,000 lights could save $450,000 per year or more in power and maintenance costs, improve lighting quality, and reduce its climate impacts.”
About the Bay Area Climate Collaborative
The Bay Area Climate Collaborative (BACC) is a public-private initiative accelerating the clean energy economy. Major partners include Bank of America, PG&E, Environmental Defense Fund, and local governments representing over 70 percent of the Bay Area population. The BACC is driving electric vehicle, energy efficiency, residential upgrades and distributed renewables innovation. Partners of BACC’s Next Generation Streetlight Initiative include the Lisa & Douglas Goldman Fund, GE, SWARCO Americas, Siemens, Xeralux, BridgeLux, and Leotek. For more information on the BACC, please visit: www.baclimate.org
About the California Lighting Technology Center
The California Lighting Technology Center (CLTC) is a technology-neutral research, development, and demonstration facility at the University of California, Davis (UC Davis). CLTC’s mission is to stimulate, facilitate, and accelerate the development and commercialization of energy-efficient lighting and daylighting technologies. This is accomplished through technology development and demonstrations, as well as offering outreach and education activities in partnership with utilities, lighting manufacturers, end users, builders, designers, researchers, academics, and government agencies. For more information on CLTC, please visit: cltc.ucdavis.edu.
About Energy Solutions
Energy Solutions specializes in research and implementation of energy efficiency programs and codes, and standards development. Founded in 1995, Energy Solutions’ mission is to create large-scale energy and water savings benefits for clients by implementing market-based solutions and developing programs and policies that contribute to these goals. Energy Solutions has completed several LED street lighting emerging technology demonstrations and market research studies since 2008, working with organizations such as the PG&E, Electric Power Research Institute, and the US Department of Energy. For more information on Energy Solutions, please visit: www.energy-solution.com.
About the City of Hayward
Hayward is known as the “Heart of the Bay” because of its central and convenient location in Alameda County – 25 miles southeast of San Francisco, 14 miles south of Oakland, 26 miles north of San Jose and 10 miles west of the valley communities surrounding Pleasanton. Serviced by an extensive network of freeways and bus lines, Hayward has two BART stations (Hayward and South Hayward), an Amtrak station, and the Hayward Executive Airport, with easy access to San Francisco, Oakland, and San Jose airports. In addition, Hayward was one of the first cities to adopt a Climate Action Plan which identifies actions that the City can take to address climate change and sustainability concerns. As a part of these goals, the City is in the process of upgrading about 8,000 streetlights to LEDs. For more information about the City of Hayward, please visit: www.ci.hayward.ca.us/.
Written by Rafael Reyes Thursday, 06 December 2012 06:50
The Sonoma County Board of Supervisors voted unanimously to create an initial governing authority for a proposed countywide renewable energy-focused power agency known as Sonoma Clean Power, a step needed before determining rates to charge potential customers when service is targeted to begin in early 2014. Planners call the vote a significant benchmark in a nearly two-year process to determine the feasibility of a community-choice aggregation power agency in Sonoma County.Read more here.