May 17, 2020
Solar and Wave Technology Combine Forces
2 min
Marine Solar Cells (MSC), a new solar panel design from Phil Pauley, boasts the ability to generate energy from both the sun and waves. The offshore s...
Marine Solar Cells (MSC), a new solar panel design from Phil Pauley, boasts the ability to generate energy from both the sun and waves. The offshore solar installation of these solar-wave units would increase efficiency of the solar panels due to the reflections of sunlight beaming off the water, enabling the panels to capture 20 percent more solar power.
Each device acts as a subsea battery or power plant and can be placed nearly anywhere off-shore by attaching the units to underwater mooring.
A web of energy generators capture offshore storage, using floating photovoltaics and the natural buoyancy displacement of the units in a marine environment.
"These hybrid marine generators would be an effective way of capturing more energy per square metre," Pauley told the press. "The design means they could be largely constructed from recycled materials too."
SEE OTHER TOP STORIES IN THE ENERGY DIGITAL CONTENT NETWORK
Buffett Makes Major Solar Purchase
Solar to Eclipse Renewable Energy Market?
January's issue of Energy Digital has gone live!
Minimal maintenance will be required for the units, which can be made from recycled materials. The initial and ongoing financial equipment are expected to be at a fraction of a cost of traditional solar farms or wave power designs.
The technology is still under development, but holds great commercial potential. The company expects to install hundreds of low-cost solar-wave units soon, generating thousands of new jobs and a whole new industry with worldwide implications.
Jun 2, 2021
bp buys 9GW of solar projects from 7X Energy for $220m
2 min
bp steps up its solar renewables profile with $220 million purchase of 7X Energy sites across 12 US states
bp is to buy 9GW of solar development projects in the US from independent solar developer 7X Energy.
bp will pay 7X Energy $220 million for the projects and 1GW of 'safe harbour' equipment and expects the acquisition to complete in 30 days. The projects, spread across 12 states - with the largest portfolios in Texas (ERCOT) and MidWest (PJM) - are expected to meet bp’s low carbon investment criteria, generating returns of at least 8-10%.
Assets with a combined generating capacity of 2.2GW are expected to reach final investment decision (FID) by 2025, with the remaining progressing by 2030. Once developed, these projects will have the capacity to generate enough clean energy to power around 1.7 million US homes. The development is also expected to support thousands of jobs through construction.
The acquisition represents a significant step towards bp’s target of growing its net developed renewable generating capacity to 20GW by 2025 and aim to increase this to 50GW by 2030.
The deal will also grow bp’s renewables pipeline from 14GW to 23GW. The assets will be developed through bp’s 50-50 solar joint venture Lightsource bp, which will apply its capabilities to accelerate bp’s renewables targets.
Dev Sanyal, bp executive vice president of gas and low carbon energy, said: "With this purchase, we are continuing to put our strategy in action as we grow our renewables business in a deliberate and disciplined way. It brings us 9GW of high-quality solar projects in markets where we can create integrated renewable energy offers through our trading and customer franchises."
More than half of new US utility-scale solar PV capacity is planned for four states this year, with Texas comfortably the largest (28%), followed by Nevada (9%), California (9%), and North Carolina (7%), according to the US Energy Information Administration. Solar will account for 39% of all new US electricity generation capacity in 2021, surpassing wind for the first time, according to ResearchAndMarkets.com.
Powered by
Close