According to a new report by a US government agency, wind turbines and solar panels accounted for an impressive two-thirds of all new electric generation capacity added to the country's capacity during the year 2015.
The analysis form the U.S. Department of Energy showed that the renewable sources of energy are the choice for the majority of the new power projects in the country. The analysis also showed that the remaining third of the project was largely new power plants fuelled by natural gas.
According to industry experts, the real estate market in the United Arab Emirates (UAE) has been affected by low prices of oil in the global markets.
The UAE's Energy Minister had maintained that the country was not affected by low oil prices due to its diversified economy. Experts have said that the country is not as immune to the oil prices as it is officially stated. The latest economic data for the month of April shows that the real estate market is facing the impact of low oil prices in the international markets.
On Thursday, May 5, SunPower Corp. announced its first quarter financial results. For the energy company based in San Jose, California, the quarter ended on April 3, 2016.
The crystalline silicon photovoltaic cells, roof tiles and solar panel maker reported adjusted diluted net loss of $0.30 on adjusted revenue of $433.6 million. Last year, in the same quarter the company had reported EPS of $0.13 on revenue of $430.6 million. Analysts had estimated an average net loss of $0.20 per share and $328.53 million in revenue.
In the last decade, renewable power has undergone intense growth where shares of wind and solar in the total U.S. power generation has boosted about five percent last year compared to less than 0.5 percent noted in 2005.
Innovation, cost cutting with a range of subsidies are also factors that helped renewable energy reach new heights. The state renewable power mandates also create helpful credits with almost 50 cents per kilowatt hour in Massachusetts and New Jersey for solar power. That also complements the revenue flow that comes from power sales.
The highest nuclear authority in the United Arab Emirates has indicated that it is making safety its topmost priority for the nuclear reactors in the country.
Houston, Texas based Kinder Morgan Inc. suspended its controversial New England natural gas pipeline. The decision taken by North America's largest oil pipeline operator was cheered by some of its local opponents. Amidst the troubles that the energy market is facing, the company demanded some customers to post collateral to make sure that bills get paid. The company's demand for fossil-fuel hauling and storage services has suffered a major blow with a drop in demand.
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