U.S. Bancorp unit, SolarCity team up

By Reuters


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A unit of U.S. Bancorp and privately-held SolarCity have teamed up to wire homes and businesses in California, Oregon and Arizona, with no upfront costs, while taking advantage of government tax credits.

The agreement, for which no value was disclosed, allows U.S. Bancorp Community Development Corp., a unit of U.S. Bancorp, to take advantage of tax breaks including a solar tax credit.

In return, the bank pays for the purchase and installation of solar power by SolarCity, which markets and maintains the systems. Homeowners and businesses purchase the electricity generated from their roofs.

"We are able to offer a home owner or a business owner a solar financing solution that costs them less than if they bought the same amount of electricity from the utility," said Lyndon Rive, chief executive of SolarCity, from company headquarters in Foster City, Calif.

Homeowners also may choose to pay the cost of the installation, which can run to $20,000 and has a payback period for eight to 10 years, Rive said.

Darren Van't Hof, vice president of the U.S. Bancorp unit said in a telephone interview from St. Louis that the two companies have created a tax equity fund which finances the solar lease plan.

The joint fund reaps the benefits of the tax breaks, sharing the revenue stream between the bank and SolarCity, he said.

The company takes care of maintenance for 15 years, after which a homeowner can renew the plan, upgrade, buy the system or have it removed, Rive said.

Rive said the company already has a six-month backlog and the agreement, signed a few days ago, will allow it to whittle away that backlog and sell more systems.

"It is allowing us to hire an additional 100 installers," increasing the force to 300, he said.

Rive said he expects that the company will sell 3,000 systems this year, and that is only the beginning. He said the company's income tripled last year and he sees huge growth in the coming eight years, which is how long Congress designed the tax break to last.

"We expect to deploy hundreds of thousands of systems over this time period," he said.

The privately held company is three years old and has received $56 million in venture capital backing, $25 million from solar panel producer First Solar. The remainder comes from entrepreneur Elon Musk and from venture capital firm Draper Fisher Jurvetson.

SolarCity says it is the largest residential installer of solar-powered systems in the United States.

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Seattle Apartment Fire Caused by Overheated Power Strip

Seattle Capitol Hill Apartment Fire highlights an electrical fire from an overheated power strip, a two-alarm response by 70 firefighters, safe evacuation, displaced resident aid, and prevention tips like smoke detectors and load limits.

 

Key Points

Two-alarm early-morning blaze in Seattle traced to an overheated power strip, displacing one resident and injuring none.

✅ Origin: overheated power strip ignited nearby combustibles

✅ Response: 70 firefighters, two-alarm, rapid containment

✅ Safety: avoid overloads; inspect cords; use smoke detectors

 

An early-morning fire in Seattle’s Capitol Hill neighborhood severely damaged a three-story apartment building, displacing one resident. The blaze, which broke out around 4:34 a.m. on a Friday, drew more than 70 firefighters to the scene, as other critical sectors have implemented on-site staffing during outbreaks to maintain operations, and was later traced to an overheated power strip.

The Fire Incident

The Seattle Fire Department responded to the fire, which had started on the second floor of the building in the 1800 block of 12th Avenue. Upon arrival, crews were met with heavy smoke and flames coming from one unit. The fire quickly spread to a unit on the third floor, prompting the Seattle Fire Department to escalate their response to a two-alarm fire due to its size and the potential threat to nearby structures.

Firefighters initially attempted to contain the blaze from the exterior before they moved inside the building to fully extinguish the fire. Thankfully, the fire was contained to the two affected units, preventing the destruction of the remaining seven apartments in the building.

All residents safely evacuated the building on their own. Despite the substantial damage to the two apartments, no injuries were reported. One resident was displaced by the fire and was assisted by the Red Cross in finding temporary accommodation.

Cause of the Fire

Investigators later determined that the fire was accidental, most likely caused by an overheated electrical power strip. The power strip had reportedly ignited nearby combustible materials, sparking the flames that quickly spread throughout the unit. Although the exact details are still under investigation, the fire serves as a stark reminder of the potential risks associated with overloaded or damaged electrical equipment and how electrical safety knowledge gaps can contribute to incidents.

The Risks of Power Strips

Power strips, while essential for providing multiple outlets, can pose a serious fire hazard if used improperly, and specialized arc flash training in Vancouver underscores the importance of understanding electrical hazards across settings.

This fire in Seattle highlights the importance of maintaining electrical devices and following proper usage guidelines. According to experts, it is crucial to regularly inspect power strips for any visible damage, such as frayed cords or scorch marks, and to replace them if necessary. It's also advisable to avoid using power strips with high-power appliances like space heaters, microwaves, or refrigerators.

Impact and Community Response

The fire has raised awareness about the dangers of electrical hazards in residential buildings, especially in older apartment complexes where wiring systems may not be up to modern standards. Local authorities and fire safety experts are urging residents to review safety guidelines and ensure that their living spaces are free from potential fire hazards and to avoid dangerous stunts at dams and towers that can lead to serious injuries.

Seattle's fire department, which responded to this incident, continues to emphasize fire prevention and safety education. This event also highlights the importance of having working smoke detectors and clear escape routes in apartment buildings, and ongoing fire alarm training can improve system reliability. The Seattle Fire Department recommends that all tenants know the locations of fire exits and practice safe evacuation procedures, especially in high-rise or multi-unit buildings.

Additionally, the Red Cross has stepped in to assist the displaced resident. The organization provides temporary shelter, food, and financial aid for those affected by disasters like fires. The fire underscores the importance of having emergency preparedness plans in place and the need for immediate relief for those who lose their homes in such incidents.

The Seattle apartment fire, which displaced one resident and caused significant damage to two units, serves as a reminder of the potential dangers associated with improperly maintained or overloaded electrical devices, especially power strips, and how industry recognition, such as a utility safety award, reinforces best practices. While the cause of this fire was linked to an overheated power strip, it could have easily been prevented with regular inspections and safer practices.

As fire departments continue to respond to similar incidents, it is critical for residents to stay informed about fire safety, particularly regarding electrical equipment and outdoor hazards like safety near downed power lines in storm conditions. Awareness, proper maintenance, and following safety protocols can significantly reduce the risk of electrical fires and help protect residents from harm.

 

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Iran, Iraq Discuss Further Cooperation in Energy Sector

Iran-Iraq Electricity Cooperation advances with power grid synchronization, cross-border energy trade, 400-kV transmission lines, and education partnerships, boosting grid reliability, infrastructure investment, and electricity exports between Tehran and Baghdad for improved supply and stability.

 

Key Points

A bilateral initiative to synchronize grids, expand networks, and sustain electricity exports, improving reliability.

✅ 400-kV Amarah-Karkheh line enables synchronized operations.

✅ Extends electricity export contracts to meet Iraq demand.

✅ Enhances grid reliability, training, and infrastructure investment.

 

Aradakanian has focused his one-day visit to Iraq on discussions pertaining to promoting bilateral collaboration between the two neighboring nations in the field of electricity, grid development deals and synchronizing power grid between Tehran and Baghdad, cooperating in education, and expansion of power networks.

He is also scheduled to meet with Iraqi top officials in a bid to boost cooperation in the relevant fields.

Back in December 2019, Ardakanian announced that Iran will continue exports of electricity to Iraq by renewing earlier contract as it is supplying about 40% of Iraq's power today.

"Iran has signed a 3-year-long cooperation agreement with Iraq to help the country's power industry in different aspects. The documents states at its end that we will export electricity to Iraq as far as they need," Ardakanian told FNA on December 9, 2019.

The contract to "export Iran's electricity" to Iraq will be extended, he added.

Ardakanian also said that Iran and Iraq's power grids have become synchronized in a move that supports Iran's regional power hub plans since a month ago.

In 2004 Iran started selling electricity to Iraq. Iran electricity exports to the western neighbor are at its highest level of 1,361 megawatts per day now, as the country weighs summer power sufficiency ahead of peak demand.

The new Amarah-Karkheh 400-KV transmission line stretching over 73 kilometers, is now synchronized to provide electricity to both countries, reflecting regional power export trends as well. It also paves the way for increasing export to power-hungry Iraq in the near future.

With synchronization of the two grids, the quality of electricity in Iraq will improve as the country explores nuclear power options to tackle shortages.

According to official data, 82% of Iraq's electricity is generated by thermal power plants that use gas as feedstock, while Iran is converting thermal plants to combined cycle to save energy. This is expected to reach 84% by 2027.

 

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Alberta creates fund to help communities hit by coal phase-out

Alberta Coal Community Transition Fund backs renewables, natural gas, and economic diversification, offering grants, workforce retraining, and community development to municipalities and First Nations as Alberta phases out coal-fired power by 2030.

 

Key Points

A provincial grant helping coal-impacted communities diversify, retrain workers, and transition to renewables by 2030.

✅ Grants for municipalities and First Nations

✅ Supports diversification and job retraining

✅ Focus on renewables, natural gas, and new sectors

 

The Coal Community Transition Fund is open to municipalities and First Nations affected as Alberta phases out coal-fired electricity by 2030 under the federal coal plan to focus on renewables and natural gas.

Economic Development Minister Deron Bilous says the government wants to ensure these communities thrive through the transition, aligning with views that fossil-fuel workers support the energy transition across the economy.

“Residents in our communities have concerns about the transition away from coal, even as discussions about phasing out fossil fuels in B.C. unfold nationally,” Rod Shaigec, mayor of Parkland County, said.

“They also have ideas on how we can mitigate the impacts on workers and diversify our economy, including clean energy partnerships to create new employment opportunities for affected workers. We are working to address those concerns and support their ideas. This funding means we can make those ideas a reality in various economic sectors of opportunity.”

The coal-mining town of Hanna, northeast of Calgary, has already received $450,000 through the program to work on economic diversification, exploring options like bridging the Alberta-B.C. electricity gap that could support new industries.

The application deadline for the coal transition fund is the end of November.

A provincial advisory panel is also expected to report back this fall on ways to create new jobs and retrain workers during the coal phase-out.

 

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Jordan approves MOU to implement Jordan-Saudi Arabia electricity linkage

Jordan-Saudi Electricity Linkage Project connects NEPCO and Saudi National Electricity Company to launch feasibility studies, advancing cross-border grid interconnection, Arab electricity linkage goals, and enhancing power reliability, stability, and energy security in both countries.

 

Key Points

A bilateral grid interconnection by NEPCO and Saudi Electricity Co. to improve reliability and stability.

✅ Enables joint technical and financial feasibility studies

✅ Improves cross-border grid reliability and stability

✅ Part of Arab electricity linkage; supports energy security

 

The Jordanian Cabinet on has approved the memorandum of understanding to implement the electricity linkage project between Jordan and Saudi Arabia, echoing regional steps such as Lebanon's electricity sector reform to modernize power governance.

The memo will be signed between the National Electric Power Company(NEPCO) and the Saudi National Electricity Company, mirroring cross-border efforts like CEA-Mexico electricity cooperation to strengthen regional interconnections.

The agreement will enable the two sides to initiate technical and financial feasibility studies for the project, which aims to enhance the stability and reliability of electricity networks in both countries, aligning with measures to secure power such as Ireland's electricity supply plan pursued internationally.

The initial feasibility studies, which came as part of the comprehensive Arab electricity linkage issued by the Arab League in 2014, had shown the possibility of implementing the Jordanian-Saudi linkage, as electricity markets evolve in places like Alberta electricity market changes toward new designs.

Regional developments, including a Lebanon electricity goodwill gesture that sowed discord, underscore the complexities of power-sector reform.

Also on Wednesday, the Government approved the third amendment to the grant agreement provided by the EU for a programme of financial inclusion through improving the governance and the spread of micro-financing in Jordan.

Jordan and the EU signed the grant agreement on December 14, 2014 to support the general budget.

The Cabinet also approved the recommendations of the ministerial team tasked with overseeing the annual and financial plans of public credit funds in the Kingdom.

The recommendations included establishing a guidance office to introduce the governmental lending programmes and windows within Iradah centres affiliated with the Planning and International Cooperation Ministry.

The Council of Ministers decided to oblige the government institutions to execute all of their correspondences to the Jordan Customs Department (JCD) electronically.

The decision also includes cancelling the provision of 55 JCD services by conventional paper works and to be provided only online.

The council also approved the outcomes of the study to restructure the governmental body.

The outcomes proposed activating the Higher Health Council, cancelling the independence of the Vocational and Technical Employment Training Fund transferring its functions to the Employment and Development Fund, and activating the National ICT Centre.

The government has cancelled the National Fund to Support Sports and the Scientific Support Fund.

 

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ETP 2017 maps major transformations in energy technologies

Global Energy Electrification drives IEA targets as smart grids, storage, EVs, and demand-side management scale. Paris Agreement-aligned policies and innovation accelerate decarbonization, enabling flexible, low-carbon power systems and net-zero pathways by 2060.

 

Key Points

A shift to electricity across sectors via smart grids, storage, EVs, and policy to cut CO2 and improve energy security.

✅ Smart grids, storage, DSM enable flexible, resilient power.

✅ Aligns with IEA pathways and Paris Agreement goals.

✅ Drives EV adoption, building efficiency, and net-zero by 2060.

 

The global energy system is changing, with European electricity market trends highlighting rapid shifts. More people are connecting to the grid as living standards improve around the world. Demand for consumer appliances and electronic devices is rising. New and innovative transportation technologies, such as electric vehicles and autonomous cars are also boosting power demand.

The International Energy Agency's latest report on energy technologies outlines how these and other trends as well as technological advances play out in the next four decades to reshape the global energy sector.

Energy Technology Perspectives 2017 (ETP) highlights that decisive policy actions and market signals will be needed to drive technological development and benefit from higher electrification around the world. Investments in stronger and smarter infrastructure, including transmission capacity, storage capacity and demand side management technologies such as demand response programs are necessary to build efficient, low-carbon, integrated, flexible and robust energy system. 

Still, current government policies are not sufficient to achieve long-term global climate goals, according to the IEA analysis, and warnings about falling global energy investment suggest potential supply risks as well. Only 3 out of 26 assessed technologies remain “on track” to meet climate objectives, according to the ETP’s Tracking Clean Energy Progress report. Where policies have provided clean signals, progress has been substantial. However, many technology areas suffer from inadequate policy support. 

"As costs decline, we will need a sustained focus on all energy technologies to reach long-term climate targets," said IEA Executive Director Dr Fatih Birol. "Some are progressing, but too few are on track, and this puts pressure on others. It is important to remember that speeding the rate of technological progress can help strengthen economies, boost energy security while also improving energy sustainability."

ETP 2017’s base case scenario, known as the Reference Technology Scenario (RTS), takes into account existing energy and climate commitments, including those made under the Paris Agreement. Another scenario, called 2DS, shows a pathway to limit the rise of global temperature to 2ºC, and finds the global power sector could reach net-zero CO2 emissions by 2060.

A second decarbonisation scenario explores how much available technologies and those in the innovation pipeline could be pushed to put the energy sector on a trajectory beyond 2DS. It shows how the energy sector could become carbon neutral by 2060 if known technology innovations were pushed to the limit. But to do so would require an unprecedented level of policy action and effort from all stakeholders.

Looking at specific sectors, ETP 2017 finds that buildings could play a major role in supporting the energy system transformation. High-efficiency lighting, cooling and appliances could save nearly three-quarters of today’s global electricity demand between now and 2030 if deployed quickly. Doing so would allow a greater electrification of the energy system that would not add burdens on the system. In the transportation system, electrification also emerges as a major low-carbon pathway, with clean grids and batteries becoming key areas to watch in deployment.

The report finds that regardless of the pathway chosen, policies to support energy technology innovation at all stages, from research to full deployment, alongside evolving utility trends that operators need to watch, will be critical to reap energy security, environmental and economic benefits of energy system transformations. It also suggests that the most important challenge for energy policy makers will be to move away from a siloed perspective towards one that enables systems integration.

 

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U.S. Electric Vehicle Market Share Dips in Q1 2024

U.S. EV Market Share Dip Q1 2024 reflects slower BEV adoption, rising PHEV demand, affordability concerns, charging infrastructure gaps, tax credit shifts, range anxiety, and automaker strategy adjustments across the electric vehicle market.

 

Key Points

Q1 2024 EV and hybrid share slipped as BEV sales lag, PHEVs rise, and affordability and charging concerns temper demand.

✅ BEV share fell to 7.0% as affordable models remain limited

✅ PHEV sales rose 50% YoY, easing range anxiety concerns

✅ Policy shifts and charging gaps weigh on consumer adoption

 

The U.S. electric vehicle (EV) market, once a beacon of unbridled growth, appears to be experiencing a course correction. Data from the U.S. Energy Information Administration (EIA) reveals that the combined market share of electric vehicles (battery electric vehicles, or BEVs) and hybrids dipped slightly in the first quarter of 2024, marking the first decline since the onset of the COVID-19 pandemic, even as EU EV share rose during lockdowns in 2020.

This news comes as a surprise to many analysts who predicted continued exponential growth for the EV market. While overall sales of electric vehicles surged into 2024 and did increase by 7% compared to Q1 2023, this growth wasn't enough to keep pace with the overall rise in vehicle sales. The result: a decline in market share from 18.8% in Q4 2023 to 18.0% in Q1 2024.

Several factors may be contributing to this shift. One potential culprit is a slowdown in battery electric vehicle sales. BEVs saw their share of the market dip from 8.1% to 7.0% in the same period. This could be attributed to a lack of readily available affordable options, with many popular EV models still commanding premium prices and concerns that EV supply may miss demand in the near term.

Another factor could be the rising interest in plug-in hybrid electric vehicles (PHEVs). PHEV sales witnessed a significant jump of 50% year-over-year, reflecting how gas-electric hybrids are getting a boost from major automakers, potentially indicating a consumer preference for vehicles that offer both electric and gasoline powertrain options, addressing concerns about range anxiety often associated with BEVs.

Industry experts offer mixed interpretations of this data. Some downplay the significance of the dip, attributing it to a temporary blip, even though EVs remain behind gas cars in total sales. They point to the ongoing commitment from major automakers to invest in EV production and the potential for new, more affordable models to hit the market soon.

Others express more concern, citing Europe's recent EV slump and suggesting this might be a sign of maturing consumer preferences. They argue that simply increasing the number of EVs on the market might not be enough. Automakers need to address issues like affordability, charging infrastructure, and range anxiety to maintain momentum.

The role of government incentives also remains a question mark. The federal tax credit for electric vehicles is currently set to phase out gradually, potentially impacting consumer purchasing decisions in the future. Continued government support, through incentives or infrastructure development, could be crucial in maintaining consumer interest.

The coming quarters will be crucial in determining the long-term trajectory of the U.S. EV market, especially after the global electric car market's rapid expansion in recent years. Whether this is a temporary setback or a more lasting trend remains to be seen. Addressing consumer concerns, ensuring a diverse range of affordable EV options, and continued government support will all be essential in ensuring the continued growth of this critical sector.

This development also presents an opportunity for traditional automakers. By capitalizing on the growing PHEV market and addressing consumer concerns about affordability and range anxiety, they can carve out a strong position in the evolving automotive landscape.

 

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