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Environmental Power Reports Q3 Loss

Environmental Power Corporation (Amex: EPG) announced decreased revenues of roughly 50% for the nine months ending September 30, 2007. Revenues decreased by $882,000 to $886,000, as compared to $1.8 million for the same period in 2006. The company says the decrease is due to a change in business models. Instead of selling anaerobic digester equipment to farmers, the company will now own and operate anaerobic digester facilities in the hopes of generating long-term gas or electric revenue streams. The company has sold no equipment in 2007, compared to $1.2 million in sales in 2006. The company reported a loss from continuing and discontinued operations for Q307 of $6.2 million, or $0.61 per common share, compared to a loss of $3.4 million, or $0.35 per common share, for Q306. On November 5th, the company completed construction of its Huckabay Ridge facility. Management says it expects the facility will reach full capacity within the next few weeks. The facility is set to begin deliveries of its RNG® in October 2008 under a 10-year agreement with Pacific Gas and Electric. The facility currently exports RNG® to Lower Colorado River Authority. ABOUT ENVIRONMENTAL POWER CORPORATION Environmental Power Corporation is a developer, owner and operator […]

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Report: Energy Efficiency Deserves More Attention

In all the hubbub surrounding renewable energy standards, increased fuel efficiencies, carbon taxes and whether or not these policies will cripple American or global economies, the potential of energy efficiency often seems relegated to the sidelines. But as common ground where the act-nows and the wait-and-sees could agree on sweeping improvements, energy efficiency deserves higher billing. A new report commissioned by the United Nations Foundation may draw more attention to the issue. It states that improving annual energy efficiency at 2.5% a year in just the G8 countries — roughly double the historical average — would reduce G8 energy demand by about 20% in 2030, returning it to 2004 levels and offsetting the equivalent of 80% of the increased energy supply needs currently projected by the International Energy Agency. In addition, it says industrial nations could save enough energy through increased efficiency to move the world close to an acceptable CO2 level, at a cost that would be repaid by the savings in just three to five years. The report recommends governments make economy-wide improvements in energy efficiency and contains a menu of 21 policy options that governments can use to improve energy efficiency in buildings and equipment, industry, transportation, […]

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British Climate Bill to Propose Legally-Binding Emission Cuts

It appears that British legislators may beat their American counterparts in approving the first bill with legally-binding, emission-reduction commitments. The British climate Change Bill is expected to be published today, beginning a parliamentary process that could create legal limits on the nation’s carbon emissions within six months. British lobbyists and legislators have taken up many of the same debates currently being aired in Washington. Climate environmentalists and some politicians pushed for a target of 80% reductions in carbon dioxide emissions, but reportedly the bill will propose cutting national emissions by 60% by 2050 and about half that amount by 2025. However, Environment Secretary Hilary Benn said last month he would ask for the creation of a climate monitoring committee to see if 80% reductions were necessary or achievable. Reportedly, the bill will employ rolling five-year “carbon budgets,” as opposed to binding yearly targets.

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DOE Invests $21M on Next Generation Solar

The U.S. Department of Energy (DOE) will be investing $21.7 million in more than a dozen projects aimed at developing next generation photovoltaic (PV) technology. The DOE says the 25 projects selected are an integral part of the President’s Solar America Initiative, which aims to make solar energy cost-competitive with conventional sources of electricity by 2015. The funding provides early-stage investments for a range of advanced PV technologies. Developers hope the new solar technologies can produce electricity at costs well below the current costs of grid-supplied electricity.  The device and manufacturing process research, which will be used by the selected projects, is expected to produce prototype cells and/or processes by 2015, with the potential for full commercialization shortly thereafter. The projects will be implemented at 15 universities and 6 companies; each award averages $900,000 from DOE over three years. With cost-sharing, the total investment in research will be up to $30.3 million. The following projects were selected for negotiation of three-year project awards: Arizona State University (Tempe, AZ)(This project will seek to increase efficiency levels to 20% by developing new materials to improve tandem thin film solar cells.  Arizona State University was selected for another project, in which researchers will […]

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Spire to Provide PV Manufacturing Line in Russia

Spire Corporation (Nasdaq: SPIR) announced that it has received a multi-million dollar contract from the Russian company Ryazan Metal Ceramics Instrumentation Plant Joint Stock Company (RMCIP JSC) to provide a turnkey 12-megawatt (MW) photovoltaic (PV) module manufacturing line. The line will be designed to facilitate future expansion. Ryazan presently produces approximately one megawatt of mono-crystalline solar cells and modules using some of Spire’s equipment. After integrating the Spire module line into the factory, Ryazan will become the largest module manufacturer in Russia. About Ryazan Metal Ceramics Ryazan Metal Ceramics Instrumentation Plant JSC is a Russian company in the electronics industry. The company’s plant is situated in the Central European part of the Russian Federation 200 km from Moscow. The main business fields of the company are development and production of reed switches, development and production sensors on the reed switches, and development and production of solar energy components and systems. For more detailed information, visit www.rmcip.ru. About Spire Corporation Spire Corporation provides equipment and turnkey manufacturing lines for producing solar photovoltaic modules worldwide. Website: http://www.spirecorp.com     

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Suntech Reports Increased Q3 Revenue

Suntech Power Holdings Co., Ltd. (NYSE: STP), a manufacturer of photovoltaic (PV) cells and modules announced big increases in revenue and net income Suntech reported total net revenues of $386.7 million for the Q307, representing a 137.3% increase from Q306. Non-GAAP gross profit for Q307 was $82.8 million, an increase of 117.9% year-over-year. Non-GAAP operating expenses in Q307 totaled $19.3 million and accounted for 5.0% of net revenues. Non-GAAP income from operations for Q307 was $63.5 million, an increase of 113.1% from Q306. Non-GAAP operating margin was 16.4%. Non-GAAP net income for Q307 was $61.2 million, an increase of 86.6% over Q306, or $0.36 per non-GAAP diluted ADS. On a GAAP basis, for Q307 gross profit was $80.0 million, an increase of 115.1% over Q306. In Q307, capital expenditures, which the company says were primarily related to production capacity expansion and the construction of Suntech’s new production facilities, totaled $41.8 million.. Suntech’s balance of cash and cash equivalents was reported as $588.6 million on September 30, 2007, compared to $520.0 million on June 30, 2007. Inventory totaled $164.3 million on September 30, 2007, compared to $198.4 million on June 30, 2007. The company says changes were primarily due to improved […]

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