Solar Power

The global economy is starting to get serious about reducing carbon emissions. This decarbonization megatrend represents an enormous investment opportunity. Companies need to spend trillions of dollars per year over several decades on deploying additional renewable energy capacity to achieve net-zero emissions.

Many companies will benefit from this megatrend. Some of the emerging leaders include electric utilities Consolidated Edison (NYSE:ED), Duke Energy (NYSE:DUK), NextEra Energy (NYSE:NEE), and Xcel Energy (NASDAQ:XEL). Here’s why that makes them great renewable energy stocks to buy for 2021 and beyond.

A quiet leader in solar power

Consolidated Edison has a long history of distributing electricity and natural gas to the New York City area. That base business has steadily expanded over the years, enabling Consolidated Edison to pay one of the best dividends in the utility sector. The company has increased its dividend for 47 straight years, the longest growth streak in the industry. 

However, while the company’s utility operations generate steady cash flow, what stands out about Consolidated Edison is its solar energy business. It might come as a surprise to learn that Consolidated is the second-largest solar developer in the country and seventh-largest globally. The company started by acquiring solar energy projects from other developers. It launched an internal development program in 2014 and currently has a large pipeline of opportunities to continue expanding its solar energy operations in the coming years. That should enable Consolidated Edison to keep growing its dividend, putting it on track to become a Dividend King in a few years.

Betting big on clean energy

Duke Energy set a bold goal to transform into a clean energy company, targeting net zero emissions by 2050. The utility expects to spend $59 billion on clean power generation and grid investments over the next few years to support this ambitious plan. These investments will push renewable energy to 23% of its power mix by 2030, up from 7% last year. Meanwhile, 91% of its overall power mix will come from cleaner fuel sources (natural gas, nuclear, and renewables), up from 79% last year.

Duke believes these investments will pay direct dividends for its shareholders. The company estimates it can grow its earnings per share at a 5% to 7% annual rate through 2025. That should support continued dividend growth, allowing Duke to extend its streak of raising the dividend, which it has done for the last 14 consecutive years.

Leading the charge

NextEra Energy boasts that it’s the world’s largest producer of wind and solar energy. However, it’s still getting started. The company plans to spend up to $55 billion on new infrastructure investments through next year, which will enable it to produce even more clean power. 

The company estimates that these investments will support 6% to 8% annual earnings-per-share growth through 2023. However, the company has repeatedly said it would be disappointed if it didn’t deliver results at or near the top-end of that range. In addition, it sees dividend growth of around 10% per year through at least 2022. These factors should enable NextEra Energy to continue generating powerful total returns for its shareholders.

The wind’s at its back

Xcel Energy was the first electric utility to publicly pledge to deliver 100% carbon-free electricity by 2050. The company currently expects to spend $24.3 billion on capital projects through 2025, including new renewables and other grid-related investments. It has a large and growing wind business and is starting to make greater inroads into solar. In addition, it’s evaluating using hydrogen as a fuel source while also helping enable the deployment of more electric vehicles.

Xcel Energy believes these investments will pay dividends for shareholders. It expects to grow its earnings per share at a 5% to 7% annual pace through 2025. In addition, it believes it can increase its dividend at a similar rate. That should enable the utility to generate attractive total returns for investors in the coming years.

Powerful growth ahead

These electric utilities are embracing a cleaner future. All four are emerging as leaders in investing in renewable energy, which should power steady earnings and dividend growth over the next several years. That makes them great renewable energy stocks to buy and hold for the long term.

Solar power isn’t “free” or “clean.” It destroys oxygen-producing forests and wildlife habitat and is much more expensive than electrical power generated by abundant, clean-burning natural gas.

Its actual cost, however, is hidden by huge tax subsidies. The state of N.C. mandates an 80% reduction of local property tax for industrial solar power, which must be made up by all other local taxpayers. 

Modern society must have electrical power every second of every day, which requires spinning turbine generators that function every second 24/7. Solar delivers its rated power only during the middle of sunny days, very little on cloudy days and none at night. California’s heavy dependence on solar and windmills is now causing sporadic power blackouts there. Little North Carolina (as compared to Texas and California) is now second in the nation for solar, and Duke Energy is being choked by it.

We might well have the same experiences as California, if this state continues its headlong rush into solar.

— William Rumburg

Gold Hill

Like you can’t judge a book by its cover, it’s not always wise to judge a law by its title. 

A gigantic new energy package signed into law by Gov. J.B. Pritzker on Sept. 15, may live up to its name. 

“The Climate and Equitable Jobs Act is, to put it in a nutshell, is a gamechanger,” said Delmar Gillus of the Chicago environmental equity nonprofit Elevate Energy. “It is going to 1) create literally tens of thousands of jobs in underserved and environmental justice communities. It’s going to create opportunities for those that want to get into the space from a job creation, entrepreneurship perspective. CEJA is also going to reduce, significantly, the amount of pollution in underserved communities.” 

CEJA sets a goal of 2045 for Illinois to have all its energy from carbon-free sources. 

“Because of what we’re talking about, the magnitude of what we’re talking about here in the energy space — I mean we’re talking about powering the entire state of Illinois using green energy. Windmills, solar energy. This is something that’s going to be taking place, dare I say, over the next 30+ years,” State Rep. Will Davis, D-Hazel Crest, said. 

Davis said there aren’t currently enough people working in the sector, period – and especially people of color work. 

A report by E2 (Environmental Entrepreneurs) found that people of color made up about 27% of Illinois’ clean energy industry. 

Revamping the energy sector’s presents an opportunity to change that. 

“In the next 10 years, renewable energy businesses are going to create more than 50,000 new jobs: Building projects in every corner of the state,” said Nakhia Crossley of the Solar Energy Industries Association. “We are proud of the diversity and equity commitments in this legislation and we look forward to making sure that as the renewable energy industry grows, it fully reflects the diversity of Illinois.”

Among the equity initiatives included in Public Act 102-0662 are:

• The creation of a “green bank” to provide seed money to help Black and Brown contractors who may otherwise have a hard time raising capital 

• Training support for helping formerly incarcerated individuals to enter the clean energy sector 

• Setting reporting requirements to make sure the intended diversity goals are met; Illinois will beefing up the renewables industry through financial incentives, but only contractors that meet diversity thresholds will be able to access them

• The allocation of $80 million a year paid by ratepayers to be spent on development programs for individuals from “equity-focused communities” 

 “We have 13 workforce hubs that will be providing training. They will be providing support for workers, they will be providing things like tools and placement services and retention services and travel stipend and for those that need them, child care,” Gillus said. “There also are going to be workforce hubs that will be providing pre-apprenticeships as well, so that those that are interested in getting jobs in the solar industry, especially from underserved communities, will have access to a plethora of training options and support.” 

Other programs are intended for a “just transition,” supporting workers who will lose their jobs when fossil fuel-powered plants close, such as scholarship, health care coverage and employment education. 

While CEJA mandates the closure of carbon-emitting plants, many are closing on their own due to market forces. NRG is closing a pair of coal-fired plants in summer 2022, something for which Clean Power Lake County leader Dulce Ortiz has spent years fighting. 

According to the U.S. Census bureau, Waukegan has a 17% Black and 55% Latino population. 

“I am a Mexican immigrant and having the basic human right to breathe clean air, have clean water and clean soil, and equitable access to the clean energy economy is deeply personal to me,” Ortiz said at the bill signing ceremony last week. “This work helps ensure that Black and Brown sisters and brothers everywhere are empowered to own their own future.”  

Ortiz said CEJA’s priority to retiring coal and gas plants in environmental justice communities is a “huge win for Waukegan.” 

While 2045 is decades away, a lot of this work is already underway given previous energy laws.

CEJA, with its focus on equity threaded through much of the measures’ complexities, gives a significant boost to those initiatives.

Ratepayers may initially notice the impacts via surcharges on their next electric bills. 

As Gillus looks to 2045, he’s excited. 

“What I visualize is a clean energy workforce in the state of Illinois that resembles the demographics of the state. I see Black and Brown businesses growing,” Gillus said. “I see Black and Brown contractors being able to hire people from their communities. I see opportunities for the expansion of electric vehicles across the state. I see solar panels in every community.”

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Go Green Wilmette is leading a free tour of more than a dozen Wilmette homes with solar panels from 10 a.m.-2 p.m. on Saturday, Sept. 25.

During the tour, GGW President Beth Drucker and other homeowners will provide information about the solar-power systems installed on their homes. The tour will go across Wilmette as seen in this interactive map.

Please note, some of the installations will offer “curbside viewing” only.

According a press release from Go Green Wilmette, the organization and another local green group, Go Green Northbrook, have organized their own villagewide solar tours in conjunction with the Illinois Solar Energy Association’s annual statewide tour on Sept. 25. 

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Wilmette Sesquicentennial celebrations have begun

Village President Senta Plunkett announced to the guests of the Wilmette Beach Bash that that night, Sept. 18, was the start of a series of events to honor the village’s 150th birthday.

The Village of Wilmette was incorporated in 1872, and for the next year, will celebrate the 150th anniversary of that moment, according to Plunkett.

“To mark this milestone, the Village is embarking on a series of events to educate us about Wilmette’s history, to promote the special aspects of our Village and most importantly, to have fun,” she reportedly told the Beach Bash crowd. “After what we have all endured the last 18 months, we look forward to the celebration to renew and strengthen the bonds we share as friends and neighbors. I can think of no better place to begin the celebration than right here, at Beach Bash 2021, in partnership with the Ouilmette Foundation.”

According to a press release from the Village of Wilmette, the Wilmette Village Board’s Sesquicentennial Planning Committee is laying out a “celebration that will promote community spirit and unity while honoring the Village’s history and looking toward its future.”

The events will be punctuated by a community festival on Sept. 10, 2022, in the Village Center.

In addition to the festival, the committee is planning a speaker series, a winter celebration, art shows, and projects to enhance public spaces in the community, the release says.

For more information, visit www.wilmette150.org, email celebrate150@wilmette.com or call (847) 853-7529.

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Ramblers Golf Outing raises funds for tuition assistance

Loyola Academy supporters gathered at North Shore Country Club Sept. 20 for the 27th annual Ramblers Golf Outing.

A day of fun and fundraising included a number of contests and prizes, many of which were donated by Loyola alumni.

According to a Loyola press release, current parent and Board of Trustees member Kevin Lynch, John Defraytas, Willy Hendricks and Kyler Ferguson took first place in the gross competition. On the Peoria handicapping system, Doug Kadison, Chris Friedrich, Michael Zera and Jim Greco took first.   

Courtney O’Connor and Chris Burke had the longest drive on the 12th hole. Kevin Willer and Brian Callahan were closest to the pin on the 3rd hole.

“We are grateful to our golf outing hosts, Rob Banas and Rambler members of North Shore Country Club,” the release says. “Their generosity and efforts provided us with the best possible experience.”

The goal of the outing, according to the release, to raise enough funds to provide a year’s tuition for one student was achieved. Over the past 27 years, the golf outing has raised more than $250,000 for the tuition program.

Salt River Project announced this week that they are partnering with solar and storage developer Clenera, to build Arizona’s largest solar power plant north of Flagstaff. SRP says the plant named “CO Bar Solar” is set to begin construction in 2023 and set to be operational in 2024. The plant will deliver a total of 400 megawatts of renewable energy to SRP customers. Clenera will operate the plant. The facility will take up 24-hundred acres of Babbitt Ranch property in Coconino County. Over the course of 18-months of construction, it’s expected around 550 construction jobs will be created, with many being local. Once complete, SRP says “CO Bar Solar” will generate enough power to meet the needs of 80-thousand homes, while offsetting one-billion pounds of carbon dioxide emissions a year.

DALLAS, TX / ACCESSWIRE / September 23, 2021 / Homeowners who invest in solar power installation systems can look forward to several benefits, including a lower cost in utilities, a decrease in their carbon footprint, and an increase in the value of their homes. “Keep in mind that these benefits vary from one home to another,” Nefi Shannon of Modern Brokers of America explains. “Modern Brokers is a service that will find the best prices and calculate costs and for homeowners who want to make the switch to clean energy.” Because there are high costs involved in switching to solar energy, services like Modern Brokers are available to help ensure consumers make a viable decision.

Financial Benefits

Converting sunlight into solar power lowers emissions caused by electricity and decreases the cost of energy. Because solar power is more economical, it can make up a significant share of expanding U.S. energy demands. “This industry is expected to grow because of the many environmental advantages and the decrease in installation prices,” Nefi explains. “This has already made solar power a more competitive option as opposed to traditional fossil fuels.”

The cost of electricity is often a significant part of a homeowner’s monthly expenses. Investing in a solar panel system can provide lower utility bills and possibly lead to free power. Solar energy is a smart way for homeowners to invest their money with substantial returns that compete with more common investments such as stocks and bonds. However, some of the best value stocks include SolarEdge Technologies and SunRun Inc. Because investors of solar save on their electric bill, they are not only able to pay for the investment, and they see a return on their investment.

Solar energy empowers homeowners to protect themselves from unpredictable utility prices, especially as those prices continue to increase. Solar energy can help homeowners anticipate the cost of utilities more accurately to better manage their finances. “The financial benefit of going solar is undeniable,” Nefi explains. “But the main benefit of solar power is to reduce harmful effects on the environment as it reduces emissions caused by fossil fuels.” The continuous trend towards combating climate change means that the demand for solar energy will only continue to increase. Not to mention, solar power makes the home more economical than other homes that haven’t had solar installation. Purchasing a home with solar installation means that it is likely being financed through a mortgage.

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Installation Costs

The cost of installation required for solar power has often posed the biggest concern for consumers interested in making the switch. However, the price of solar energy is decreasing due to advances in technology and improvement in production. The cost of installation and equipment is also expected to decline as it becomes more universal. And, because the price of fossil fuels is only expected to increase, solar power will become an even more cost-effective solution.

The cost of solar is pretty easy to understand once consumers find an installation company and break down the cost of all the individual components. However, figuring out the subsidies can be a difficult task because they are continuously changing. This is another aspect that a solar broker can take care of for you. Modern Brokers oversees every project in its entirety to make sure that installation is done according to plan. They shop around all the leading solar installers nationwide and locally to give homeowners to help find the most cost-effective solution. They have partnered with other companies such as Titan Solar and Palmetto, two of the three largest solar installers in the country, to help homeowners save time and money in their search for solar.

For more information, email: info@modernbrokersofamerica.net.

SOURCE: Modern Brokers of America

View source version on accesswire.com:
https://www.accesswire.com/664813/Modern-Brokers-of-America-Works-with-Solar-Companies-to-Provide-Clean-Energy

One of the largest solar facility in Mississippi will be located in Scott County and construction should begin by early next year. The facility will be located in the northwest corner of the county between Doc Webb Road and Hwy 483.

Central District Commissioner Brent Bailey held a public hearing in Forest  last week on the proposed facility and approved the project, issuing an order that provides the owners of the facility a certificate of public convenience and necessity, which is required for any power-generating facility.

The Pearl River Solar Park, which will be located on 1,760 acres and will generate 175 megawatts of electricity and the customer will be the Midcontinent Independent System Operator, the regional transmission operator (MISO). 

Approval by MISO is likely due this December and an unnamed customer will buy the power from MISO.

“There’s been a lot of interest in the state,” Bailey said. “We have good land prices, good infrastructure to interconnect to and to have access to varying markets such as the MISO market and the TVA market. I think we’re situated well to be attractive to investors.”

The estimated cost of the project is $235 million and construction will take about 12 to 15 months. It will be owned by EDP Renewables North America, an energy firm based in Houston, TX.

“This project will be one of the largest solar projects to be approved in the state of Mississippi,” Bailey said. “Mississippi has great potential and sufficient resources to be a lead state in producing and providing cost-competitive renewable energy to its citizens and the region. This solar project in Scott County is another step forward in demonstrating that potential.”

The facility will include 450,000 to 575,000 ground mounted photovoltaic panels. The panels will be mounted via steel racking, single-axis tracking systems and interconnected via AC/DC inverters that connect the project to a step-up transformer and onto the grid at 115kV. 

The park is expected to go online in 2023.