Stem (NYSE: STEM) is set to report its highly anticipated Q1 2024 results on Thursday, May 2, post-market. However, analysts are urging caution, citing the company’s restrictive balance sheet and uncertain cash flow projections. Despite its presence in the innovative renewable energy sector, Stem faces challenges in revenue predictability and competitive pressures, suggesting that the risk outweighs the potential rewards.
Europe is facing challenges in its energy transition, but holds a key position for success. To achieve climate neutrality by 2050, the continent must accelerate the adoption of renewable energy and phase out fossil fuels. However, recent setbacks due to geopolitical tensions highlight the need for continued efforts and investments.
Tesla Inc. (TSLA) has announced a timeline for the production of its electric semi-truck, with the first vehicles expected to roll out by 2026. According to Vice President of Vehicle Engineering, Lars Moravy, the engineering for the Tesla Semi is being finalized to enable high-volume production. The construction of a factory in Reno is underway, with the first ‘external customers’ expected to receive their vehicles in 2026.
Green energy leader Fortescue reports progress towards its goal of producing 50 million tons of hydrogen by 2030 after successfully converting and certifying a vessel to run on green ammonia and diesel. The company remains confident in meeting its decarbonization targets through its green hydrogen projects in Norway and Brazil. Fortescue also continues to push for the electrification of its iron ore mining fleet in the Pilbara.
Alaska has been awarded $125 million in federal funding to support solar energy projects in low-income and disadvantaged communities. The funding, part of the national Solar for All program, will be distributed to various organizations in the state, including the Alaska Energy Authority, Alaska Housing Finance Corp., and Tanana Chiefs Conference. The projects aim to reduce reliance on diesel-fueled power in rural areas and promote renewable energy adoption. The investment complements efforts by state legislators to address the looming Cook Inlet natural gas shortfall and boost renewable energy production.
Kennedy Airport is set to become home to the largest solar carport and energy storage system in New York State, spanning over 21 acres while preserving the parking lot beneath. The project will generate 12 megawatts of power, powering JFK’s AirTrain and reducing greenhouse gas emissions by over 6,000 tons annually. Phase 1, expected to be completed by March 2023, will provide power to the airport, while Phase 2, scheduled for completion in April 2026, will connect the system to the local grid, supplying clean energy to surrounding communities, including low-income households.
The Biden administration has announced new details of its plan to combat climate change and transition to clean energy. The plan includes a focus on protecting while also aiming to in the Southwest. The administration’s goal is to achieve specific targets by 2030.
Copper prices have reached near two-year highs of $10,000 per metric ton, driven by an anticipated surge in demand from various sectors, including electric vehicles, power infrastructure, artificial intelligence, and automation. Market analysts predict a potential supply deficit this year, leading to bullish forecasts. Citibank projects a second copper bull market, with prices potentially reaching $12,000 per ton by 2026, while Bank of America set its 2024 target price at $9,321. However, some analysts caution that prices may fluctuate due to weak fabricator demand. Despite this, companies like Anglo American are capitalizing on rising prices, reporting increased copper output.
India’s renewable energy installations hit a record high of 7.1 gigawatts (GW) in March 2024, driven by a 23% increase in solar installations. This surge helped India reach its highest-ever annual installed capacity of 18.5 GW for the fiscal year ending on 31 March 2024. Despite this growth, India faces challenges in boosting its capacity to meet its target of 500 GW of non-fossil fuel capacity by 2031-32. The ramp-up of solar installations has created substantial demand for solar equipment, leading India to expand its reach by exporting panels. Fueled by its growing solar panel production capacity, India looked to expand its reach by exporting panels to the US, which emerged as a major export destination due to its high demand for solar energy and the potential for strong profit margins.
With the growing importance of alternative energy sources, the demand for engineers skilled in renewable energy is surging. The Renewable Energy Master Class empowers you with the knowledge and skills necessary to excel in this field.
This comprehensive online course bundle, now available for $40, features 12 courses taught by experienced engineers and electricians. From understanding the fundamentals of renewable energy generation to designing and implementing solar and wind power systems, this master class provides a thorough foundation in renewable energy engineering.
Whether you’re a seasoned engineer looking to expand your expertise or a newcomer to the field, this master class has something to offer. Its step-by-step approach and hands-on exercises ensure that you gain practical knowledge and industry-relevant skills.
