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Energy

Karnataka has ambitious plans for the uptake of electric vehicles by its residents

Karnataka Deputy Chief Minister CN Ashwathnarayan stated that the region has ambitious strategies that will facilitate the quick uptake of electric vehicles and ensure that the subsequent operations related to it are successful. The switch to electric vehicles has become vital because the internal combustion engine cars are fading out of the market at a high rate. Moreover, there is an increase in fuel price and the quest to minimize greenhouse gas emissions emerging from the transportation sector. Ashwathnarayan added that those who took up the electric vehicles have proved that the cars can meet the citizens’ demands at affordable prices without affecting the safety of the customers.

Ashwathnarayan explained that they could also develop electronics, information technology, and biotechnology utilities to support cars’ uptake. Additionally, they can utilize this technology to develop electric vehicles’ supportive structures like electric vehicle charging stations and charge points. The technical areas that they can explore include cloud computing, the Internet of Things, renewable energy, automation, and some operations digitization. He noted that making changes in these operations can help eliminate the traditionally inefficient systems and replace them with advanced and effective technologies. The Deputy Chief Minister’s remarks emerged in their panel discussion under the topic Governing Goods on the Move, which is included in the Global Technology Governance Summit 2021 as part of the strategies designed to turn around the economic situation.

Ashwathnarayan submitted that his government has other projects that it should have explored to allow for the switch to clean energy, but they didn’t become fruitful. One of the projects is the train project that would have increased the Metro train network in Bengaluru to cover various areas. The minister noted that they could have utilized more Metro stations by offering cycles and bikes on hire and other subscription services to minimize the traffic on the roads. These strategies call for significant investment in logistics infrastructure and reliable supply chains. These mechanisms will help make the dream of India becoming a clean energy nation come alive.

Additionally, they can eliminate the common notion among citizens that the electric vehicles would eject most of the employed people out of their positions. Implementing the strategies will create new employment opportunities that take up the labor from the fading sectors. Finally, the development of charging stations and points will resolve the mileage range anxiety that most people were afraid to witness.

Categories
Energy

For the City of Orlando, NovaCHARGE has built 100 electric car charging stations

Within the last year, NovaCHARGE, a globally recognized technology developer and turnkey solutions integrator of electric vehicle (EV) hardware as well as cloud applications, collaborated with the Orlando Utilities Commission (OUC) and the city of Orlando to install 100 networked EV charging facilities in Orlando.

Last summer, the city, as well as OUC, drafted a proposal to add 100 electric vehicle charging stations to 33 community sites around the city’s six council districts to facilitate the shift to a clean-energy economy further. The city chose NovaCHARGE to oversee the preparation, technological design, and implementation of a stable and highly flexible next-generation EV charging network, based on its expertise in deploying solutions for communities and global brands like Tesla, Hilton, and Whole Foods.

NovaCHARGE, as the main contractor, collaborated extensively with OUC engineers as well as city regulators to complete the project ahead of time for the city’s urgent requirements and potential growth despite the worldwide COVID-19 pandemic. NovaCHARGE was in charge of all the network configuration, power management system, startup, and other tasks that necessitated sophisticated technical design as well as large-scale project management. NovaCHARGE linked and installed a diverse portfolio of Electric Vehicle charging hardware for this deployment over a virtual cloud for ease of control and management.

NovaCHARGE’s president, Helda Rodriguez, stated, “Our goal is to provide cost-effective deployments in difficult commercial environments across North America.” “However, after designing hundreds of big, large-scale, run installations, we relished the opportunity to work on a local initiative to help our firm’s hometown shift toward a more prosperous future.” NovaCHARGE went on to join the city as well as OUC to unveil the latest Orlando EV charging network at a press conference at Orlando’s John H. Jackson Neighborhood Center on 1st April, 2021, after over a year of construction, preparation, and collaboration.

NovaCHARGE, LLC, which is a national technology producer as well as a turnkey systems integrator of the electric vehicle hardware and the cloud applications, was established in 2008. In both its next-generation NC8000 Hardware lines and ChargeUP Network and NC7000, NovaCHARGE delivers creativity and transparent standards. NovaCHARGE has designed efficient deployments for thousands of companies around the United States as a major supplier of EV networked as well as non-networked charging solutions. NovaCHARGE is an Accredited Minority/Woman-Owned Business with headquarters in Central Florida.

NovaCHARGE provides turnkey, price-effective, high-quality EV charging installations that guarantee long-term customer loyalty. We’re committed to supplying EV owners with healthy and dependable charging, as well as charging facility owners with profitable and viable business models.

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Energy Technology

Apple announces new energy storage system to augment its California renewable energy project

Apple has announced plans to build an energy storage project in California to enhance renewable energy reliability. This project will be one of the largest battery storages in the United States, with a capacity of about 200 MWh of energy. The project, named California Flats, will power store excess energy produced by solar during the day.

The giant battery will be directly linked to the tech giant’s California solar farm, which produces about 130-megawatts of energy. The California sun is so hot during the day, but come night time the solar farm generates very little energy. The California Flats will come around these intermittent shortages by storing the energy to be used at night. Power stored in this battery system could power up to seven thousand homes per day.

“We are firmly committed to helping our suppliers become carbon neutral by 2030 and are thrilled that companies who have joined us span industries and countries around the world, including Germany, China, the US, India, and France,” said Lisa Jackson, vice president of Environment, Policy, and Social Initiatives at Apple. Apple has been at the forefront of curbing climate change by reducing its carbon footprint.

“In a year like no other, Apple continued to work with a global network of colleagues, companies, and advocates to help make our environmental efforts and everything we do a force for good in people’s lives and to work alongside the communities most impacted by climate change,” added Jackson.

While solar and wind farms are cheap ways to produce green energy, the sun is not always shining, and the wind isn’t blowing all the time. This unreliability is a major downside of the two options that causes unprecedented power shortages that have cost economies and corporations. Investing in battery storage provides backup during these intermittent shortages.

Apple is dedicating a significant amount of money to the research into new technologies and the development of California’s utility storage. The firm has also expanded storage capabilities in Santa Clara Valley and the Apple Park microgrid.

The company has made all its operations clean by partnering with renewable energy producers across the globe. The initiative has reduced Apple’s greenhouse emission by 40%, a positive trend towards its zero-carbon target by the end of this decade. Currently, Apple has done away with 15 million metric tons of emissions through low carbon materials, using clean energy efficiently.

Since Apple declared its intent of cleaning up its energy across its operations, manufacturing supply chain, and product lifecycle, it has established strong collaborations with renewable energy suppliers. By 2030, the firm wants its products to be 100% clean, meaning every device sold will have no negative impact on the environment.

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Space

AST SpaceMobile, a satellite firm, plans to conclude the SPAC transaction next week and start selling on Nasdaq

AST & Science, a satellite-to-smartphone broadband provider, stated on Thursday that it plans to complete its SPAC merger next week. The company’s shares will be traded on the Nasdaq. The corporation disclosed intentions to combine with New Providence, a special purpose takeover company that operates under the ticker NPA, in 2020. Stockholders accepted the agreement on Thursday, with the sale set to close “on or around April 6”. AST Space Mobile will be the merged business of AST & Science and New Providence, and it will operate under the ticker ASTS.

Before the SPAC merger, Avellan established AST in May 2017 and raised around $121 million. He has put some capital into the business and will control 43 percent of AST as it becomes official, with the other 29 percent held by other current shareholders. Around 160 people work for the firm.

New Providence’s SPAC was disclosed in September 2019, receiving $230 million in a stock sale to “acquire a firm in the wider business industry,” according to the company’s website. In a quote, New Providence Chairman Alex Coleman stated, “AST SpaceMobile offers a rare opportunity to be able to invest in a visionary organization with innovative technologies, a built-in client base, and a versatile and scalable market model that solves one of the greatest barriers to global connectivity.”

A $230 million private placement fund led by AST’s current partners as well as joined by UBS O’Connor was also secured as part of the transaction. With Sir Richard Branson’s tourism firm Virgin Galactic premiering in late 2019 as well as space transportation expert Momentus planning to go public early next year in a contract with Stable Road Capital, the group is at least third in the space industry to follow the SPAC route to enter financial markets.

In Thursday’s trading, New Providence’s stock fell 2.4 % to $11.39 a share. AST SpaceMobile, headquartered in Midland, Texas, is constructing a constellation, or a network of satellites, that will bring broadband from space to customer smartphones. Established satellite networks need additional physical devices to connect to the system, such as Iridium’s mobile satellite phones or even SpaceX’s Starlink customer terminals.

The group, which raised around $120 million before the SPAC acquisition, expects the sale to bring around $462 million in net proceeds. AST plans to launch its next demo satellite, BlueWalker 3, later this year, using the new capital to finance the firm’s network growth. The planned completion of AST will be the first of a recent string of space SPAC mergers. In the last six months, seven space firms, including AST, have confirmed deals with SPACs.

Categories
Energy

Here is why you should invest in Green energy stocks in 2021

Renewable energy is undoubtedly one of the hottest sectors right now for investors to build a camp. As economies embrace cleaner energy solutions to curb greenhouse gas emissions, renewable stocks have identified their position at the top of the energy landscape. According to iShares Global Clean Energy ETF, green stocks rose by 140% in 2020. Although in 2021, the stocks dropped by 16%, the dip should not scare your interest in investing in renewables. There are still convictions that clean power stocks are here to win.

Firstly, there is an infinite growth opportunity in renewable energy. As big corporations pledge to use renewable energy exclusively in their daily operations, the demand for clean power will skyrocket in the next decade. Clean energy projects have one of the most significant funding from governments, and you can see wind farms and solar farms being installed across the world over.

Electric Vehicles are the new trend. Big economies such as China and the United States have laid out policies that will advance battery-powered vehicles’ adoption. Car manufacturers are planning to go fully electric or hybridize their internal combustion engine vehicles to use batteries.

The latest findings by Solar Energy Industries Association and energy consultant Wood Mackenzie projects that about 324gigawatts (GW) of solar power capacity will be rolled out in the United States over the following years. This value will be a threefold increase from the capacity installed in 2020.

Similarly, an International Energy Association report predicts that green energy sources will account for around 95% of the “net increase in global power capacity through 2025”.Investors could tap into solar energy gurus such as Enphase Energy and SolarEdge Technologies.

The two solar giants have recorded consistent revenue growth over the past three years. Enphase is valued at $21 billion, while SolarEdge is worth $14 billion. Another reason to invest in renewable shares is the need to boost your passive income. Dividend-paying stocks help you build wealth without getting much involved with the companies. For instance, Brookfield Renewable Partners give investors a 3.04% forward yield.

Lastly, the favorable environment for clean energy due to the Paris Agreement requirements promises significant growth in the renewables sector. Interest rates are low, and administrations are giving rebates to green startups. The low-interest rates enable companies to improve their finances.

“During 2020, we continued to take advantage of the low-interest environment and executed on $3.4billion of investment-grade financings, extending our average corporate debt maturity to 14 years and reducing our borrowing costs by $5 million per year,” stated Brookfield Renewable Energy in its 2020 fourth-quarter letter to shareholders.