Outlook from solar companies disappoints investors

By Reuters


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U.S. solar companies SunPower Corp and Akeena Solar Inc posted results that topped Wall Street estimates, but offered little hope the market for the renewable energy source would rebound this year.

The two companies said the solar sector was seeing a slow improvement, but also admitted the industry has yet to overcome the oversupply problems that have driven prices for panels down by about 50 percent in the past 12 months.

"The industry is seeing a much more balanced picture in demand and supply," said SunPower's chief executive, Tom Werner, in an interview.

SunPower, which posted lower net income and trimmed its full-year earnings forecast to the low end of its previous range, said the financing environment for solar projects was improving, and the average selling price fell less than 10 percent during the third quarter.

The company's forecast narrowed in part because some of its large-scale projects have moved into the early part of 2010, Werner said in an interview.

"The good news there is that we're still sold out and we go in with a very strong pipeline into 2010," Werner said, adding that the company is "better positioned" for the first quarter of 2010 than it was for the first quarter in 2009.

Werner also told reporters during a conference call he saw residential demand strengthening in all markets, but still expected average selling prices of panels to weaken in the fourth quarter.

SunPower shares tumbled 13 percent to $29.05 following the results in extended trade after closing at $33.30 on the Nasdaq.

Demand for systems that turn sunlight into electricity has taken a hit because of the global financial crisis and an oversupply of cells and modules caused by a cutback in Spanish subsidies.

Investors are also now fretting over how much and when Germany's government will cut aid to its solar industry, the world's top market.

Werner said SunPower has always prepared for a decline in solar aid in Germany but noted that Germany is a "great market" even with a change in the country's subsidy.

MEMC Electronic Materials Inc, which produces silicon wafers that are a key component in solar cells, swung to a larger-than-expected quarterly loss but said it saw sequential increase in demand.

MEMC said it expected nearly flat revenues during the fourth quarter as compared to the third — an outlook executives at the company said was conservative given the uncertainty over pricing.

The company's shares fell nearly 2 percent in after-market trading on the New York Stock Exchange.

MEMC also announced it plans to acquire privately held SunEdison, which designs, installs and finances solar systems for commercial customers.

Smaller solar power systems maker Akeena Solar Inc posted a narrower-than-expected third-quarter loss as it took advantage of lower panel prices and cheaper installation costs.

But shares of the company closed down nearly 2 percent after it said that installation results in the fourth quarter would likely be similar to those in the third quarter.

Akeena said net sales for the quarter fell 27 percent to $7.7 million, reflecting decline in commercial revenue due to the tight credit market and overall economic conditions.

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Californians Learning That Solar Panels Don't Work in Blackouts

Rooftop Solar Battery Backup helps Californians keep lights on during PG&E blackouts, combining home energy storage with grid-tied systems for wildfire prevention, outage resilience, and backup power when solar panels cannot supply nighttime demand.

 

Key Points

A home battery paired with rooftop solar, providing backup power and blackout resilience when the grid is down.

✅ Works when grid is down; panels alone stop for safety.

✅ Requires home battery storage; market adoption is growing.

✅ Supports wildfire mitigation and PG&E outage preparedness.

 

Californians have embraced rooftop solar panels more than anyone in the U.S., but amid California's solar boom many are learning the hard way the systems won’t keep the lights on during blackouts.

That’s because most panels are designed to supply power to the grid -- not directly to houses, though emerging peer-to-peer energy models may change how neighbors share power in coming years. During the heat of the day, solar systems can crank out more juice than a home can handle, a challenge also seen in excess solar risks in Australia today. Conversely, they don’t produce power at all at night. So systems are tied into the grid, and the vast majority aren’t working this week as PG&E Corp. cuts power to much of Northern California to prevent wildfires, even as wildfire smoke can dampen solar output during such events.

The only way for most solar panels to work during a blackout is pairing them with solar batteries that store excess energy. That market is just starting to take off. Sunrun Inc., the largest U.S. rooftop solar company, said some of its customers are making it through the blackouts with batteries, but it’s a tiny group -- countable in the hundreds.

“It’s the perfect combination for getting through these shutdowns,” Sunrun Chairman Ed Fenster said in an interview. He expects battery sales to boom in the wake of the outages, as the state has at times reached a near-100% renewables mark that heightens the need for storage.

And no, trying to run appliances off the power in a Tesla Inc. electric car won’t work, at least without special equipment, and widespread U.S. power-outage risks are a reminder to plan for home backup.

 

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New Orleans Levees Withstood Hurricane Ida as Electricity Failed

Hurricane Ida New Orleans Infrastructure faced a split outcome: levees and pumps protected against storm surge, while the power grid collapsed as transmission lines failed, prompting large-scale restoration efforts across Louisiana and Mississippi.

 

Key Points

It summarizes Ida's impact: levees and pumps held, but the power grid failed, causing outages and slow restoration.

✅ Levees and pumps mitigated flooding and storm surge impacts.

✅ All transmission lines failed, crippling the power grid.

✅ Crews and drones assess damage; restoration may take weeks.

 

Infrastructure in the city of New Orleans turned in a mixed performance against the fury of Hurricane Ida, with the levees and pumps warding off catastrophic flooding even as the electrical grid, part of the broader Louisiana power grid, failed spectacularly.

Ida’s high winds, measuring 150 miles (240 kilometers) an hour at landfall, took out all eight transmissions lines that deliver power into New Orleans, ripped power poles in half and crumpled at least one steel transmission tower into a twisted metal heap, knocking out electricity to all of the city. A total of more than 1.2 million homes and businesses in Louisiana and Mississippi lost power. While about 90,000 customers were reconnected by Monday afternoon, many could face days without electricity, and frustration can mount as seen during the Houston outage after major storms.

In contrast, the New Orleans area’s elaborate flood defenses seem to have held up, a vindication of the Army Corps of Engineers’ $14.5 billion project to rebuild levees, flood gates and pumps in the wake of the devastation wrought by Hurricane Katrina in 2005. While there were reports of scattered deaths tied to Ida, the city escaped the kind of flooding that destroyed entire neighborhoods in Katrina’s wake, left parts of the city uninhabitable for months and claimed 1,800 lives. 

“The situation in New Orleans, as bad as it is today with the power, could be so much worse,” Louisiana Governor John Bel Edwards said Monday on the Today Show, praising the levee system’s performance. “All you have to do is go back 16 years to get a glimpse of what that would have been like.”

While the levees’ resiliency is no doubt due to the rebuilding effort that followed Katrina, the starkly different outcomes also stems from the storms’ different characteristics. Katrina slammed the coast with a 30-foot storm surge of ocean water, while preliminary estimates from Ida put its surge far lower. 


Ida’s winds, however, were stronger than Katrina’s, and that’s what ultimately took out so many power lines, a dynamic that also saw Texas utilities struggle during Harvey. Deanna Rodriguez, the chief executive officer of power provider Entergy New Orleans, declined to comment on when service would be restored, saying the company was using helicopters and drones to help assess the damage.

Michael Webber, an energy and engineering professor at the University of Texas at Austin, estimated power restoration will take days and possibly weeks, a pattern seen in Florida restoration timelines after major hurricanes, based on the initial damage reports from the storm. More than 25,000 workers from at least 32 states and Washington are mobilized to assist with power restoration efforts, similar to FPL's massive response after Irma, according to the Edison Electric Institute.

“The question is, how long will it take to rebuild these lines,” Webber said. The utilities will first need to complete their damage assessments before they can get a sense of repair timelines, a step that Gulf Power crews have highlighted in past recoveries, he said. “You can imagine that will take days at least, possibly weeks.”

The loss of electricity will have other affects as well, and even though grid resilience during the pandemic was strong, local systems face immediate constraints. Sewer substations, for example, need electricity to keep wastewater moving, said Ghassan Korban, executive director of the New Orleans Sewerage & Water Board. The storm knocked out power to about 80 of the city’s 84 pumping stations, he said at a Monday press conference. “Without electricity, wastewater backs up and can cause overflows,” he said, adding that residents should conserve water to lessen stress on the system.

 

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RBC agrees to buy electricity from new southern Alberta solar power farm project

RBC Renewable Energy PPA supports a 39 MW Alberta solar project, with Bullfrog Power and BluEarth Renewables, advancing clean energy in a deregulated market through a long-term power purchase agreement in Canada today.

 

Key Points

A long-term power purchase agreement where RBC buys most output from a 39 MW Alberta solar project via Bullfrog Power.

✅ 39 MW solar build in County of Forty Mile, Alberta

✅ Majority of output purchased by RBC via Bullfrog Power

✅ Supports cost-competitive renewables in deregulated market

 

The Royal Bank of Canada says it is the first Canadian bank to sign a long-term renewable energy power purchase agreement, a deal that will support the development of a 39-megawatt, $70-million solar project in southern Alberta, within an energy powerhouse province.

The bank has agreed with green energy retailer Bullfrog Power to buy the majority of the electricity produced by the project, as a recent federal green electricity contract highlights growing demand, to be designed and built by BluEarth Renewables of Calgary.

The project is to provide enough power for over 6,400 homes and the panel installations will cover 120 hectares, amid a provincial renewable energy surge that could create thousands of jobs, the size of 170 soccer fields.

The solar installation is to be built in the County of Forty Mile, a hot spot for renewable power that was also chosen by Suncor Energy Inc. for its $300-million 200-MW wind power project (approved last year and then put on hold during the COVID-19 pandemic), and home to another planned wind power farm in Alberta.

BluEarth says commercial operations at its Burdett and Yellow Lake Solar Project are expected to start up in April 2021, underscoring solar power growth in the province.

READ MORE: Wind power developers upbeat about Alberta despite end of power project auctions

It says the agreement shows that renewable energy can be cost-competitive, with lower-cost solar contracts in a deregulated electricity market like Alberta’s, adding the province has some of the best solar and wind resources in Canada.

“We’re proud to be the first Canadian bank to sign a long-term renewable energy power purchase agreement, demonstrating our commitment to clean, sustainable power, as Alberta explores selling renewable energy at scale,” said Scott Foster, senior vice-president and global head of corporate real estate at RBC.

 

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Venezuela: Electricity Recovery Continues as US Withdraws Diplomatic Staff

Venezuela Power Outage cripples the national grid after a massive blackout; alleged cyber attacks at Guri Dam and Caracas, damaged transmission lines, CORPOELEC restoration, looting, water shortages, and sanctions pressure compound recovery.

 

Key Points

A March 2019 blackout crippling Venezuela's grid amid alleged cyber attacks, equipment failures, and slow restoration.

✅ Power restored partially after 96 hours across all states

✅ Alleged cyber attacks at Guri Dam and Caracas systems

✅ CORPOELEC urges reduced load during grid stabilization

 

Venezuelan authorities continue working to bring back online the electric grid following a massive outage that started on Thursday, March 7.

According to on-the-ground testimonies and official sources, power finally began to reach Venezuela’s western states, including Merida and Zulia, on Monday night, around 96 hours after the blackout started. Electricity has now been restored at least in some areas of every state, with authorities urging citizens, as seen in Ukraine's efforts to keep lights on during crisis, to avoid using heavy usage devices while efforts to restore the whole grid continue.

President Nicolas Maduro gave a televised address on Tuesday evening, offering more details about the alleged attack against the country’s electrical infrastructure. According to Maduro, both the computerized system in the Guri Dam, on Thursday afternoon, and the central electrical “brain” in Caracas, on Saturday morning, suffered cyber attacks, while recovery was delayed by physical attacks against transmission lines and electrical substations, a pattern seen in power outages in western Ukraine as well.

“The recovery has been a miracle by CORPOELEC (electricity) workers” he said, vowing that a “battle” had been won.

Maduro claimed that the attacks were directed from Chicago and Houston and that more evidence would be presented soon. The Venezuelan president had announced on Monday that two arrests were made in connection to alleged acts of sabotage against the communications system in the Guri Dam.

Venezuela’s electrical grid has suffered from poor maintenance and sabotage in recent years, with infrastructure strained by under-investment and Washington’s economic sanctions further compounding difficulties, with parallels to electricity inequality in California highlighting broader systemic challenges, though causes differ.

The extended power outage saw episodes of lootings take place, especially in the Zulia capital of Maracaibo. Food warehouses, supermarkets and a shopping mall were targeted according to reports and footage on social media.

Isolated episodes of protests and lootings were also reported in other cities, including some sectors of Caracas. A video spread on social media appeared to show a violent confrontation in the eastern city of Maturin in which a National Guardsman was shot dead.

While electricity has been gradually restored, public transportation and other services have yet to be reactivated, a contrast with U.S. grid resilience during COVID-19 where power systems remained stable, with the government suspending work and school activities until Wednesday.

In Caracas, attention has now turned to water. Shortages started to be felt after the water pumping system in the nearby Tuy valley was shut down amid the electricity blackout, underscoring that electricity is civilization in conflict zones, as interdependent systems cascade. Authorities announced on Tuesday afternoon that the system was due to resume supplying water to the capital metropolitan region.

Some communities protested the lack of water on Monday and long queues formed at water distribution points, with local authorities looking to send water tanks to supply communities and guarantee the normal functioning of hospitals.

The Venezuelan government has yet to release any information concerning casualties in hospitals, with NGO Doctors for Health reporting 24 dead as of Monday night following alleged contact with multiple hospitals. Higher figures, including claims of 80 newborns dead in Maracaibo, have been denied by local sources.

Self-proclaimed “Interim President” Juan Guaido has blamed the electricity crisis on government mismanagement and corruption, dismissing the government’s cyber attack thesis on the grounds that the system is analog, and attributing the national outage to a lack of qualified personnel needed to reactivate the grid. However, these claims have been called into question by people with knowledge of the system.

Guaido called for street protests on Tuesday afternoon which saw small groups momentarily take to streets in Caracas and other cities, or banging pots and pans from windows.

The opposition-controlled National Assembly, which has been in contempt of court since 2016, approved a decree on Monday declaring a state of “national alarm,” blaming the government for the current crisis and issuing instructions for public officials and security forces.

Likewise on Tuesday, Venezuelan Attorney General Tarek William Saab announced that an investigation was being opened against Guaido regarding his alleged responsibility for the recent power outage. Saab explained that this investigation would add to the previous one, opened on January 29, as well as determine responsibilities in instigating violence.

 

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Quebec Hit by Widespread Power Outages Following Severe Windstorm

Quebec Windstorm 2025 disrupted Montreal and surrounding regions, triggering power outages, Hydro-Québec repairs, fallen trees, infrastructure damage, and transport delays, while emergency response and community resilience accelerated restoration and recovery efforts across the province.

 

Key Points

A severe April 29 windstorm with 100 km/h gusts caused outages, damage, and emergency recovery across Quebec.

✅ Gusts exceeded 100 km/h across Montreal and nearby regions

✅ Hydro-Québec restored power; crews cleared debris and lines

✅ Communities shared resources, shelters, and volunteer support

 

A powerful windstorm swept across Quebec on April 29, 2025, leaving tens of thousands of residents without electricity and causing significant damage to infrastructure. The storm's intensity disrupted daily life, leading to widespread outages across the province, fallen trees, and transportation delays.

Storm's Impact

The windstorm, characterized by gusts exceeding 100 km/h, struck various regions of Quebec, including Montreal and its surrounding areas. Hydro-Québec reported extensive power outages affecting numerous customers. The storm's ferocity led to the uprooting of trees, downing of power lines, and significant damage to buildings and vehicles.

Response and Recovery Efforts

In the aftermath, emergency services and utility companies mobilized to restore power and clear debris. Hydro-Québec crews worked tirelessly, much like Sudbury Hydro teams did in Ontario, to repair damaged infrastructure, while municipal authorities coordinated efforts to ensure public safety and facilitate the restoration process. Despite these efforts, some areas experienced prolonged outages, highlighting the storm's severity.

Community Resilience

Residents demonstrated remarkable resilience during the crisis. Many communities came together to support one another, as seen when Toronto neighborhoods rallied during lingering outages, sharing resources and providing assistance to those in need. Local shelters were set up to offer warmth and supplies to displaced individuals, and volunteers played a crucial role in the recovery process.

Lessons Learned

The storm underscored the importance of preparedness and infrastructure resilience, including vulnerabilities highlighted by a recent manhole fire affecting Hydro-Québec customers. In response, discussions have been initiated regarding the strengthening of power grids and the implementation of more robust emergency response strategies to mitigate the impact of future natural disasters.

As Quebec continues to recover, the collective efforts of its residents and emergency services serve as a testament to the province's strength and unity, even as similar strong-wind outages affect other regions, in the face of adversity.

 

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CT leads New England charge to overhaul electricity market structure

New England Grid Reform Initiative aligns governors with ISO New England to reshape market design, boost grid reliability, accelerate renewable energy and offshore wind, explore carbon pricing and forward clean energy markets, and bolster accountability.

 

Key Points

Five states aim to reform ISO New England markets, prioritize renewables and reliability, and test carbon pricing.

✅ Governors seek market design aligned with clean energy mandates

✅ ISO-NE accountability and stakeholder engagement prioritized

✅ Explore carbon pricing and forward clean energy market options

 

Weeks after initiating a broad overhaul of utility regulation within its borders, Connecticut has recruited four New England states, as Maine debates a 145-mile transmission line project to rework the regional grid that is overseen by ISO New England, the independent system operator charged with ensuring a reliable supply of electricity from power plants.

In a written statement Thursday morning, Gov. Ned Lamont said the current structure “has actively hindered” states’ efforts to phase out polluting power plants in favor of renewable sources like wind turbines and solar panels, while increasing costs “to fix market design failures” in his words. Lamont’s energy policy chief Katie Dykes has emerged as a vocal critic of ISO New England’s structure and priorities, in her role as commissioner of the Connecticut Department of Energy and Environmental Protection.

“When Connecticut opted to deregulate our electricity market, we wanted the benefits of competition — to achieve lower-cost energy, compatible with meeting our clean-energy goals,” Dykes said in a telephone interview Thursday afternoon. “We have a partner [in] ISO New England, to manage this grid and design a market that is not thwarting our clean-energy goals, but achieving them; and not ignoring consumers’ concerns. ... That’s really what we are looking to do — reclaim the benefits of competition and regional cooperation.”

Lamont and his counterparts in Massachusetts, Rhode Island, Vermont and Maine plan to release a “vision document” in their words on Friday through the New England States Committee on Electricity, after New Hampshire rejected a Quebec-Massachusetts transmission proposal that sought to import Canadian hydropower.

The initial documents made no mention of New Hampshire, which likewise obtains electricity through the wholesale markets managed by ISO New England and has seen clashes over the Northern Pass hydropower project in recent years; and whose Seabrook Station is one two nuclear power plants in New England alongside Dominion Energy’s Millstone Power Station in Waterford. Gov. Chris Sununu’s office did not respond immediately to a query on why New Hampshire is not participating.

Connecticut and the four other states outlined a few broad goals that they will hone over the coming months. Those include creating a better market structure and planning process supporting the conversion to renewables; improving grid reliability, with measures such as an emergency fuel stock program considered; and increasing the accountability of ISO New England to the states and by extension their ratepayer households and businesses.

ISO New England spokesperson Matt Kakley indicated the Holyoke, Mass.-based nonprofit will “engage with the states and our stakeholders” on the governors’ proposal, in an email response to a query. He did not elaborate on any immediate opportunities or challenges inherent in the governors’ proposal.

“Maintaining reliable, competitively-priced electricity through the clean energy transition will require broad collaboration,” Kakley stated. “The common vision of the New England governors will play an important role in the discussions currently underway on the future of the grid.”

 

Renewable revolution
ISO New England launched operations in 1999, running auctions through which power plant operators bid to supply electricity, including against long-term projections for future needs that can only be met through the construction or installation of new generation capacity.

ISO New England falls under the jurisdiction of the Federal Energy Regulatory Commission rather than the states whose electricity supplies it is tasked with ensuring. That has led to pointed criticism from Dykes and Connecticut legislators that ISO New England is out of touch with the state’s push to switch to renewable sources of electricity.

Entering October, ISO New England published an updated outlook that revealed 60 percent of proposed power generators in the region’s future “queue” are wind farms, primarily offshore installations like the proposed Park City Wind project of Avangrid and Revolution Wind from Eversource. But Dykes recently criticized as unnecessary an NTE Energy plant approved already by ISO New England for eastern Connecticut, which will be fueled by natural gas if all other regulatory approvals are granted.

The six New England states participate in the Regional Greenhouse Gas Initiative that caps carbon emissions by individual power plants, while allowing them to purchase unused allowances from each other with that revenue funneled to the states to support renewable energy and conservation programs. FERC is now considering the concept of carbon pricing, which would levy a tax on power plants based on their emissions, and it also faces pressure to act on aggregated DERs from lawmakers.

ISO New England is investigating the concepts of net carbon pricing and a “forward clean energy market” that would borrow elements of the existing forward capacity market, but designed to meet individual state objectives for the percentage of renewable power they want generated while ensuring adequate electricity is in place when weather does not cooperate.

The Connecticut Public Utilities Regulatory Authority is collecting on its own initiative industry input on modernization proposals, as New York regulators open a formal review of retail energy markets for comparison, that would add up to hundreds of millions of dollars, including utility-scale batteries to store power generated by offshore wind farms and solar arrays; and “smart” meters in homes and businesses to help electricity customers better manage their power use.

The New England Power Pool serves as a central forum for plant operators, commercial users and others like the Connecticut Office of Consumer Counsel, amid Massachusetts solar demand charge debates that affect distributed generation policy, with NEPOOL’s chair stating Thursday morning the group was still reviewing the governors’ announcement.

“NEPOOL has been engaged this year in meetings ... exploring the transition to a future grid in New England and potential pathways forward to support that transition,” stated Nancy Chafetz, chair of NEPOOL, in an email.

Connecticut’s issues with ISO New England boiled over this summer on the heels of a power-purchase agreement between Millstone owner Dominion and transmission grid operators Eversource and United Illuminating, which contributed to a sharp increase in customer bills.

A few weeks ago, Lamont signed into law a “Take Back the Grid” act that allows the Connecticut Public Utilities Regulatory Authority to factor in Eversource’s and Avangrid subsidiary United Illuminating’s past performance in maintaining electric reliability, in addition to any future needs for revenue based on needed upgrades. The law included an element for Connecticut to initiate a study of ISO New England’s role.

Eversource and Avangrid have voiced support for the switch to “performance-based” regulation in Connecticut. Eversource spokesperson Mitch Gross on Thursday cited the company’s view that any changes to the operation of New England’s wholesale power markets should occur within the existing ISO New England structure.

“We also recommend any examination of potential alternatives includes a thorough evaluation that ensures unfair costs would not be imposed on customers,” Gross stated in an email.

In a statement forwarded by Avangrid spokesperson Ed Crowder, the United Illuminating parent indicated it intends to have “a voice in this process” with the goal of continued grid reliability amid increased adoption of clean energy sources.

 

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