Law360: DC Circuit Won't Delay EPA's Clean Power Plan
The D.C. Circuit on Thursday refused to put the Clean Power Plan on hold until legal challenges to the rule are completed, handing the Obama administration a significant early victory as it looks to defend and implement the sweeping regulations that would slash carbon emissions from existing power plants.
The federal government argued that the EPA has the authority under the Clean Air Act to implement the new rules and limit air pollution emitted by power plants.
World Energy Council Report: 70 Percent Drop in Energy Storage Costs Forecasted by 2030
- Electrical energy storage experts caution against narrow focus on cost alone in assessing technology’s value
- Lead author DNV GL and 23 global World Energy Council storage experts cite drawbacks in widely used levelized cost methodologies
- Report sees strong growth in adoption of storage technology, outlines five policy recommendations for more accurate cost/value analysis
SolarCity: Completes Industry's First Securitization of Distributed Solar Loans
SolarCity completed its first securitization of distributed solar loan assets earlier today; the company's fifth securitization transaction to date. SolarCity completed a private placement in the amount of $185 million -- $2.89 per watt of generation capacity in the portfolio -- with a blended coupon interest rate of 5.17 percent and a blended yield rate of 5.81 percent. The anticipated repayment date is March 2022.
The Class A Notes for SolarCity's pool of solar loan contracts received an investment grade rating of BBB from Standard & Poor's and Kroll Bond Rating Agency.
Washington Times: New York Creates $5B Clean Energy Fund to Spur Renewables
Governor Andrew M. Cuomo today announced the New York State Public Service Commission's approval of a 10-year, $5 billion Clean Energy Fund to accelerate the growth of New York's clean energy economy, address climate change, strengthen resiliency in the face of extreme weather and lower energy bills for New Yorkers starting this year. Additionally, the fund will attract and leverage third-party capital to support the governor's aggressive Clean Energy Standard, one of the nation's most ambitious goals to meet 50 percent of our electricity needs with renewable resources by 2030.
New York Times: This Time, Cheaper Oil Does Little for the U.S. Economy
It has been a truism of the American economy for decades: When oil prices rise, the economy suffers; when they fall, growth improves.
But the decline of oil prices over the last two years has failed to deliver the usual economic benefits.
As oil prices have fallen to levels not seen since 2003 -- sagging below $27 a barrel on Wednesday before rebounding to about $30 on Thursday -- many experts now say they do not expect lower prices to bolster the domestic economy significantly in 2016.