Other key findings include: existing transmission capacity can be more fully utilized to reduce the amount of new transmission that needs to be built; to facilitate the integration of wind and solar, coordinating the operations of utilities can provide substantial savings by reducing the need for additional back-up generation, such as natural gas-burning plants; and the use of state-of-the-art wind and solar forecasts in utility operations is essential for cost-effectively integrating these renewable energy sources. The study complements the previously released Eastern Wind Integration and Transmission Study, which examines the feasibility of integrating up to 30% wind in the Eastern states. See the NREL press release, the WWSIS Web page, and an article on the EWITS from the January 27 edition of the EERE Network News.
Ex-Im Bank Speeds Financing of Solar Exports for Small Projects
The US Export-Import Bank (Ex-Im Bank) launched its new "Solar Express" initiative, which will provide streamlined financing for U.S. exports to small solar projects.
Under the initiative, financing could be approved in as little as 60 days. Solar Express loans will be available for small solar producers seeking financing of $3-10 million.
The initiative offers both direct loans and loan guarantees - in most cases, the loan will be disbursed after project completion. The loans can finance up to 30% of local costs, and repayment can be up to 18 years. See the Ex-Im Bank press release and fact sheet (PDF 673 KB).
The Ex-Im Bank, an independent, self-sustaining federal government agency, fills gaps in export financing, strengthens U.S. export competitiveness, and creates and maintain U.S. jobs.
The bank's Environmental Exports Program, which includes the Solar Express initiative, offers enhanced financing for eligible U.S. exports, such as greater risk protection and capitalization of interest during construction.
The program has yielded noteworthy results for U.S. renewable energy companies. For example, Suniva, Inc., a U.S. manufacturer of high-efficiency solar cells and modules, received Ex-Im Bank's 2010 Green Transaction of the Year award for using a $2 million, short-term, multi-buyer insurance policy from the bank to offer a $500,000 credit line to a customer in India, allowing the customer to buy Suniva's solar equipment.
Likewise, Clipper Windpower Inc., a U.S. wind turbine producer, received the 2010 Ex-Im Deal of the Year award for breaking into the global marketplace by exporting 27 Liberty 2.5-megawatt wind turbines to Mexico, backed by a direct loan of $80.66 million from the bank. The wind turbines were installed in Oaxaca, Mexico, and are owned by Electrica del Valle de Mexico. See the Ex-Im Bank press releases on Suniva and Clipper Windpower.
FERC Aims to Ease Development of Small Hydropower Projects
The Federal Energy Regulatory Commission (FERC) took a step toward making its small hydropower licensing program more user-friendly by announcing a series of Web-based tools that will help developers understand the FERC licensing process and complete the license application process more quickly and efficiently.
