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5 Energy Industry Trends to Watch in 2023
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We will never sell or share your information without your consent. See our privacy policy.On Monday America’s financial paper of record accused America’s largest independent solar-energy company of manipulating key statistics in the months preceding its IPO release. The WSJ beat the SEC to the punch with the announcement of the results of their own investigation into Sunrun’s reporting practices. The WSJ has alleged that in August of 2015 Sunrun encouraged its managers to delay reports of hundreds of contract cancellations. If this negative information had been reported, it presumably would have dragged down the company’s sales metrics and significantly decreased the IPO’s valuation.
On Monday General Electric Co disclosed that the industrial conglomerate was being investigated by the European Union’s competition watchdog. The investigative body is reviewing allegations that GE provided misleading information during a merger review with LM Wind Power which took place last month. At the time of the merger the transaction seemed to have the approval of the US, the EC, China, and Brazil.
Earlier this week Lyndon Rive, founder and CEO of SolarCity, which was once America’s largest and foremost company engaged in selling residential solar panels, announced he is leaving Tesla in June. The former chief executive of SolarCity pushed his company to the forefront of the residential solar business before helping engineer it’s sale to Tesla. Since the sale of the company last year Mr. Rive has been serving as head of sales and services for Tesla’s energy division. Tesla announced that following his departure, his responsibilities will be distributed among Tesla’s leadership.
Litigation finance helps whistleblowers stand their ground against big businesses
By Michael McDonaldSadly, sometimes in life it can be hard to stand up and do the right thing, especially when everyone else seems content to ignore what you feel is wrong or immoral behavior. This is doubly true when this behavior is occurring in the workplace and those perpetrating it are your workplace superiors. Reporting illicit activity to the government is perhaps one of the hardest things that can be asked of a person, yet that is what courageous whistleblowers do every year. By standing up for their principles, these people place their lifestyle, livelihood, and careers in jeopardy for the abstract concept of right and wrong.
For a self-made billionaire and international business tycoon, Elon Musk sure does seem to have a lot in common with approximately half of all Americans. Like 49% of all American households many of Mr. Musk’s companies seem to be dependent on benefits from the federal government. The man who hopes to die on Mars may have his trip made possible by leveraging government tax benefits to make unprofitable companies profitable. SolarCity lost the better part of a billion dollars in 2016 before being acquired last November by Tesla, another of Mr. Musk’s enterprises. In an effort to stop the bleeding, Tesla’s new solar division drastically altered its business model and moved into solar roofing tiles.
- Climate Change, Corporate, Infrastructure, Innovation, Investment, Local, New Ventures, Reliability, Renewable Energy
NYSERDA Offering $15.5 million to Grow New York Energy Storage
By Danielle IzzoNew York State is ready to jump-start energy storage and renewable resource projects to modernize their energy grid. To do so, the New York State Energy Research and Development Authority (NYSERDA) is offering project managers the chance to receive funding from a fund worth $15.5 million. This money is just one part of a larger, Clean… Keep reading →
Persistently High Supplies of Oil Leads to Market Woes
By Michael McDonaldLast week was a tumultuous week for traders in oil markets as lingering doubts over the effectiveness that a production cut led by the nations of the Organization of Petroleum Exporting Countries (OPEC) was achieving the desired result of reducing global oil supply. The market has been saturated for over two years and some producers… Keep reading →
Toshiba to Split into Four Subsidiaries
By Michael VinciEarly this year, Toshiba made the strategic decision to divest from its Westinghouse nuclear power generator in America. Now, the Chinese company has decided that splitting into subsidiaries is the only way to protect its other businesses. The four subsidiaries will be (1) infrastructure (including water treatment and railways); (2) energy (including thermal and nuclear… Keep reading →
- Cleantech, Corporate, Dealmaking, Finance, Innovation, Investment, Reliability, Renewable Energy, Technology
Axiom Energy Utilizes Refrigeration for Energy Storage
By Michael VinciAxiom Energy started in its founder’s Amrit Robbins garage in 2014. Today, the firm has contracts with Whole Foods. The “refrigeration battery” system that the firm boasts is what has made it so attractive. The technology makes use of pre-existing refrigerators that the clients would already own to implement long-scale thermal energy storage solutions. The… Keep reading →
