A nearly daily update of energy-related news:
- To meet the expectations set during the Paris climate talks, the renewable energy industry will require an investment of $12.1 trillion over the next 25 years. Currently, wind parks, solar farms and other renewable options are on track to receive $6.9 trillion in the next 25 years.
- California’s PUC upheld the state’s net metering policy which allows homeowners with solar panels to sell their excess power back to their utility at the full retail rate. This policy has come under criticism as those without solar panels are left to maintain the cost of the electrical grid. However, under the new policy, solar customers will now have to pay a fee to connect their system to the grid and will need to pay a monthly fee for certain utility programs.
- An Australian family is the first to have a Tesla Powerwall installed in their home. The Powerwall is a rechargable battery designed to store energy, either from solar power or load shifting. It is able to hold about seven hours of power. Gizmodo, a technology magazine, states that it will take between 17-26 years to reclaim the initial costs spent on purchasing the battery.