Solar Is Now 33% Cheaper Than Gas Power in US, Guggenheim Says - Natural gas’s dominance as power-plant fuel in the US is fading fast as the cost of electricity generated by wind farms and solar projects tumbles, according to Guggenheim Securities. Utility-scale solar is now about a third cheaper than gas-fired power, while onshore wind is about 44% less expensive, Guggenheim analysts led by Shahriar Pourreza said Monday in a note to clients. “Solar and wind now present a deflationary opportunity for electric supply costs,” the analysts said, which “supports the case for economic deployment of renewables across the US.” Gas prices have surged amid a global supply crunch after Russia’s invasion of Ukraine, while tax-credit extensions and sweeping US climate legislation have brought down the cost of wind and solar. Renewables-heavy utilities like NextEra Energy Inc. and Allete Inc. stand to benefit, and companies that can boost spending on wind and solar will also see faster growth, Guggenheim said.
Community solar market expected to grow by at least 7 GW by 2027 - The U.S. community solar market will continue to grow over the next five years, with at least 7 GWDC of community solar expected to come online in existing markets between 2022-2027. New program guidance for community solar programs in existing markets and potential new community solar markets will bring significant growth for the U.S. community solar market, according to new research released today by Wood Mackenzie, a Verisk business, in collaboration with the Coalition for Community Solar Access (CCSA). Wood Mackenzie has increased its 2022-2026 forecast by 477 MWDC, an 11% uptick compared to previous forecasts and extended its outlook to 2027. This increase is due to the addition of new community solar markets, such as New Mexico and Delaware, and adjustments to existing state forecasts as state-level programs are expanded and rules are updated. Illinois and New York account for the greatest state-level changes to the forecast. New York is projected to continue to be the leading community solar market, with 1.3 GWDC coming online between 2022-2027.
Electric buses are ready for takeoff at US airports – Battery-powered buses are hitting streets nationwide as operators ditch their diesel-guzzling models. This week, the Biden administration awarded nearly $1 billion to help school districts revamp their yellow bus fleets and reduce kids’ exposure to air pollution. Transit agencies from Los Angeles County to New York City are working to fully electrify public transportation networks. And across the asphalt expanses of airports, electric buses are increasingly whisking passengers from terminals to tarmacs. The Federal Aviation Administration (FAA), the largest U.S. transportation agency, has awarded more than $27 million this year to help a dozen airports purchase zero-emission buses, charging stations and equipment used to service planes at gates. That’s on top of the more than $300 million in grants it disbursed last year to electrify airport equipment.