In an effort to save resources and save the environment, California has emerged the recent state in the country to hit a new renewable energy generation record. This is in tandem with a bill signed into law in 2015 by the Governor of California Jerry Brown requiring that 33 percent of all state regulated amenities be powered from solar and renewable energy by the year 2020. A set target expected to up by 50 percent by 2050.

New Record Hit

According to a report by the California Independent System Operator, which runs most of California’s power grid, a massive 8,030 megawatts of power were generated on July 12 at 1306 hours, marking a whooping 2,000 megawatts higher than the amount of solar energy generated in May 2015. According to SF Gate, the energy generated during the July 12th heat wave was sufficient to muscle 6 million households in the Golden state. In a statement by the ISO President , Steve Berberich, “The recent solar production record  was a clear revelation that the state of California was devoted in leading the country in adding low carbon resources to the grid while achieving its goal or attaining 33 percent renewable energy by the year 2020”. ISO also noted that, on July 12 at 1754 hours, approximately 29 percent of electricity demands had been met by the state’s huge renewable energy collection that includes solar, hydro, wind, bio-fuel, geothermal and energy storage. Important to note is that the energy demand was met solely by large solar plants and did not include the more than 537,637 smaller roof top solar panels installed on private homes and businesses across the state. This new record was proof that renewables have enormous potential in the state and in the nation at large. However, when it comes to solar energy, the Solar Energy Industries Association (SEIA) has constantly positioned California as the country’s solar-spoiled state. In fact, in a report published by SEIA in April 2016, California had more solar jobs than any other state and had more megawatts of solar capacity installed. In support to SEIA, the US-Department of Energy (DOE) has also pointed out that California has a huge capacity for both solar power generations than the rest of the nation combined.

The Slight Drawback

With the demand for solar energy growing astronomically, the shift has not always been easy. This is because the sun does not shine 24 hours a day. In addition, the wind is not always blowing. Therefore, when solar energy is in great supply (midday) there is little demand of electricity. Conversely, wind power picks up night but usually when it is too late. This creates a drift particularly because the largest demand for power supply is around 7pm when families are returning home. Also, during the sunny days, the state’s energy sources generate enough energy than it requires, which results in the grid operator asking the solar farms to shut down. Stay tuned to Golden Solar for more industry and company news.

It’s a deal that could see two companies merge on an unstable financial ground as they seek to reinvest into relatively new markets. The deal, which involves Tesla Motors Inc. and SolarCity will see the electric car manufacturer, Tesla spend 2.6 billion dollars to buy the solar panel maker SolarCity in an all stock deal. The deal, which is awaiting approval from the shareholders and government, will see Elton Musk, a polarizing billionaire, chair, and the biggest shareholder of both companies achieve the “second part” of his master plan that entails creating electric, self-driven vehicles that obtain their energy from solar powered batteries. An idea that was first brought into the lime light in a July 20th blog post on Tesla’s website. If all goes as planned, Musk could be putting down the foundation for a brilliant long-term strategy. However, the entrepreneur’s motives have been met with fueling concerns and criticism ever since his proposal came out in late June. The criticism mainly comes from the fact that Musk is the co-founder and President of Tesla and a co-founder of SolarCity that is presently run by his cousin Lyndon Rive. With both companies unprofitable, criticism has ranged and termed the deal as a conflict of interest to “a blatant Tesla rescue of SolarCity.”

A Blatant Rescue?

In his part, the billionaire entrepreneur in his blog post writes that, it is largely by accident of history that the two companies were ever separate. Musk adds that his main intention has been to have both companies operate as one, in a common undertaking that entails providing sustainable energy. Further, Musk points out that having both Tesla and SolarCity run as a unit will make the entire mission more efficient. In a joint post, both companies agreed that it was the perfect time for Tesla to unite with SolarCity since Tesla was gearing up to scale its Powerwall and Powerball home battery packs that pull energy from solar panels and the power grid and storing it for use. Tesla’s idea is to make car batteries that function in a similar manner. Both companies believe that the merger will help them save around 150 million dollars in operating expenses within the first year of operation. Although some investors are not yet convinced, a number of analysts have indicated that Tesla’s brand recognition could give the solar panel maker a major boost. The deal, which is anticipated to close in the fourth quarter, will see SolarCity take on Tesla’s name and market its solar panels and batteries under Musk’s plan. In his discernment, the billionaire entrepreneur believes that most of the people who will have a particular interest in driving electric cars will have a natural interest in creating clean energy systems in their homes and businesses. If Elton’s big dream sails through, this could be a new dawn for solar energy and its applications. For more industry news and trends stay tune to our blog!