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<ul class="summary-list"><li>AES Corporation introduces Maximo, an AI-powered robot that installs solar panels.</li><li>The company said Maximo will help speed up renewable energy transition and wouldn't replace humans.</li></ul>Installing solar panels can be back-breaking work, so one of the largest renewable energy companies is using robots to do the heavy lifting.AES Corporation on Tuesday introduced "Maximo," an AI-powered robot that can lift solar panels and precisely place them into long rows. The robot will be used to construct the largest solar farm with battery storage in the US, which will help power Amazon's data centers."We are really focused on speed," Chris Shelton, AES' chief product officer, said during a call with reporters. "And by speed, we mean speed for the customers — so getting these projects online faster —and speed for the energy transition. The more [solar] we can deploy, the more we can reduce overall carbon in the economy."AES said Maximo can install solar panels twice as fast as humans and at half the cost. The robot was tested in various outdoor conditions at projects in New York, Virginia, Ohio, and Louisiana and has installed about 10 megawatts of energy to date. Amazon's solar farm in Kern County, California, is expected to have 200 times that capacity.The automation comes as analysts predict there won't be enough workers to keep pace <a target="_blank" class="" href="https://www.businessinsider.com/solar-careers-in-demand-workforce-shortage-2024-7">with the rapid rise in solar demand</a>, especially now that the Biden administration is pouring hundreds of billions of dollars into renewable energy under the Inflation Reduction Act. In 2021, the administration <a target="_blank" class="" href="https://www.energy.gov/eere/solar/solar-workforce-development#:~:text=According%20to%20the%20Solar%20Futures,and%201%2C500%2C000%20workers%20by%202035.">forecasted that the solar workforce</a> needed to at least double to 500,000 workers by 2035 to reach a national goal of 100% carbon-free electricity that year.Amazon and other big tech companies are driving a lot of the demand for renewable energy. They have ambitious climate goals, yet are building out power-hungry data centers to store our data and develop AI. In some states, those power demands <a target="_blank" class="" href="https://www.businessinsider.com/data-centers-energy-demand-utilities-green-renewable-2023-10">are delaying the closure of dirty power plants</a>.Quickly scaling up solar farms and battery storage is key to keeping corporate climate promises. But adding Maximo to solar sites could also fuel concerns that robots will dim human job prospects, just as automation replaced some factory jobs.Ron Rodrique, vice president of project management at AES Clean Energy, said Maximo isn't replacing human solar installers at the company's projects."Maximo is not out there to replace the panel installers or other people that we have on our sites," Rodrique said. "This is really about that safety aspect of taking away some of the heavy lifting that people have to do."<div type="image" title="A robot places a solar panel on a long row." height="4320" width="8192" msid="112166073" hostid="261" sizebytes="2650150"></div>Lifting 60-pound solar panels repeatedly, in some cases 200 panels a day, in desert heat takes a toll on the body. If that isn't a requirement of the job, Rodrique said a broader range of workers could apply, including people with disabilities.AES said Maximo has one person driving the robot while another monitors and controls its movements with a single button press.The project with Amazon is just the beginning. If all goes well, AES expects Maximo to help clear a huge backlog of solar projects over the next three years, with the largest customers being data center hyperscalers.

An AI-powered robot is helping install Amazon's largest solar farm 

<keyword id="20357709" type="General" weightage="20" keywordseo="Tata-Power-Renewable-Energy" source="keywords">Tata Power Renewable Energy</keyword> Ltd (TPREL) has joined hands with state-owned <keyword id="22457046" type="General" weightage="20" keywordseo="NHPC-Renewable" source="keywords">NHPC Renewable</keyword> Energy Ltd (NHPC-REL) for installation of rooftop <keyword id="20297569" type="General" weightage="20" keywordseo="solar-projects" source="keywords">solar projects</keyword> on government buildings of central ministries, states, and union territories. "This collaboration represents a major step forward in our shared vision of a sustainable and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> future. By leveraging our combined strengths, we are confident in achieving our goal of 100 per cent solarisation by 2025," Nanda said. A Memorandum of Understanding (MOU) in this regard was signed on July 17, 2024 between Deepesh Nanda, CEO &amp; MD of TPREL, and S P Rathour, CEO of NHPC-REL, TPREL said in a statement. "This initiative will not only help us meet our solarisation targets but also contribute significantly to reducing the carbon footprint of government buildings," NHPC CMD R P Goyal said. An arm of Tata Power, TPREL is a developer of renewable energy projects including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, and storage systems including battery storage. It owns, operates, and maintains these projects. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank">Samsung Galaxy M35 5G with 6,000mAh battery launched in India starting at ₹19,999</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank">OnePlus Nord 4 vs Realme GT 6T – which mid-range phone should you buy under ₹35,000?</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank">Reliance Jio and Airtel added 3.45 million subscribers in May 2024, while Vi lost nearly a million</a>

Tata Power Renewable Energy, NHPC Renewable join hands for installation of rooftop solar projects

<ul class="summary-list"><li>Sunrun, the largest home solar installer, is pushing battery storage amid a downturn in the market.</li><li>High interest rates and policy changes in California are slowing demand for residential solar.</li></ul>The residential solar company Sunrun this month hit some milestones in what's otherwise been a bleak year for the industry.The company on Tuesday said it had 1 million residential solar customers and accounted for one in five home solar systems installed across the country. On a recent earnings call, Sunrun's CEO Mary Powell also said the company was selling a record amount of battery storage. More than half of new US sales in the latest quarter included solar and battery storage — what the company calls an "attachment rate." That figure is up from 12% a year ago.Still, the company isn't immune from a major slowdown in home solar sales. The slump was enough to force a competitor, SunPower, to file for bankruptcy protection this month. SunPower cited a combination of high interest rates and a policy change in California, the country's largest solar market. The company was also highly leveraged and struggled to raise more capital after some financial-reporting errors.In June, analysts at Wood Mackenzie forecast that homeowners nationwide will install 14% less solar power in 2024 than they did in 2023, marking the first time the market has contracted in five years. Zoë Gaston, a principal analyst on Wood Mackenzie's US distributed solar team, said the drop will likely be even larger following the exits of SunPower and another top installer, Titan Solar, from the industry.Driving the downturn is a new "net-metering" policy in California, where homeowners are getting paid less for sending electricity to the grid. The analysts estimate that California's market will contract by 40% this year, following a mad dash to install solar before those changes took effect in April 2023.High interest rates aren't helping either. Most homeowners finance their solar systems with a lease or a loan from companies like Sunrun. Higher rates on those long-term leases and loans mean less money saved on monthly utility bills, making solar less appealing."The days of easy money and low interest rates provided a lot of stimulus for demand," Brett Castelli, a clean-energy equity analyst at Morningstar, told Business Insider.Those days are over, he added, so some residential solar companies are focusing less on growth and more on cash flow after operating in the red.Powell told Business Insider that Sunrun had been focusing on boosting cash and a "battery-first" strategy in order to weather the solar-market headwinds. Sunrun is aiming for $200 million to $500 million in cash flow this year; historically it's been negative.She described the residential solar market this year as "distorted" because of the massive run-up in demand last year in California. But she speculated that it would adjust and then grow by at least 10% a year."Utilities don't have a solution for the future," Powell said, adding that <a target="_blank" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=410907af3b41471e942f363124c7df5f&amp;_e=FH1nquVkvLfNWFzU_lJs7AfiLlVuT6tp-orYYxsiQ6Xb04sHPpCAri4s2sGvXpwgMOXKHrkz6fAZ5qhwQUqAN7ecYWspQ8eNmuBVPi4-oJZGY3DZPYLGfp_hwzKHsMpGsXu9MnCW07xSaqSSgUVU_naD-_XrZyHSN8fvD6Q_1mcZWLJJRUwme9UUf_Y-ocgDMDQjL0PS58nYKkpgOc8DTxCIvKp2Dw5T7VKntAN1HNHt32_HosEXg7Z81zY4XWq8UHeBdQ1ec0YwSVruC-j92AZ5h1NoIKQPn3NoqKEsWOUvB3ZYc8xbEl9dfiz-y4OaaxwujEvrpnlRKSgqXHGuPW44VrvTVXsKxjobl5e6jkuM8J1YU7mScSkza2XJNFJi_RbD0YUfEs1lR_WZwOnPFedTl0McEaarIC8dTt5c05odhMRNYJlHdHlI5nd2JGDAS453FqLVPoj3ud0mDseK7o8iWpQhwLkofncVVUWUEZ0%3D">customers are paying more for power but reliability is getting worse</a>. "That creates a systemic demand for solar and battery storage."Powell said regulators were pushing utilities to leverage residential renewable energy to stabilize the grid during periods of high demand, while homeowners want to have backup power as outages become more frequent because of extreme weather.Powell pointed to Sunrun's pilot projects in Texas, California, and Puerto Rico, where the company is monitoring its customers' stored solar power and sending it to the grid in times of high demand. Customers get paid for the energy, while Sunrun is paid for dispatching the batteries. In Maryland, Sunrun has partnered with three owners of electric Ford F-150s who charge at home to test how EV batteries can serve as back-up power.Castelli agreed with Powell's prediction that residential solar will grow in the long term, pointing to rising utility rates, the falling costs of equipment, and the likelihood of lower interest rates. But if states follow California's lead by making it less lucrative for homeowners to send electricity to the grid, demand could slow."The bottom line is the rooftop-solar industry needs to become more efficient," Castelli said. "The US has by far the highest cost for rooftop solar in the world. Through these changes and headwinds, companies are going out of business, and that's making the industry more efficient."

Residential solar is struggling. One company's add-on is helping it hit 1 million installations.

<ul class="summary-list"><li>Aaron Nichols got certified in solar installation a year ago when he was unsure of his career path.</li><li>Now he has a marketing job for a solar company that offers flexibility and career mobility. </li></ul>This as-told-to essay is based on a conversation with Aaron Nichols, the marketing and advocacy specialist at Exact Solar. The following has been edited for length and clarity.My career has been the wildest ride since I got my solar-installation training just a year ago.I started my career in education and <a target="_blank" href="https://www.businessinsider.com/how-to-plan-for-challenges-when-changing-careers-expert-advice-2022-9">wasn't happy with that path</a>. So I took some time off to travel after the height of the COVID-19 pandemic and supplemented my income with a door-to-door solar-sales job, which I landed through some people I met on my journey.When I came back from traveling, I didn't know what I wanted to do for work, and I thought<a target="_blank" href="https://www.businessinsider.com/solar-careers-in-demand-workforce-shortage-2024-7"> solar installation could be an interesting career path</a>. I went through a six-week training program with an organization called <a target="_blank" href="https://gridalternatives.org/">Grid Alternatives</a>, where I was paid a stipend based on my income level to <a target="_blank" href="https://www.nabcep.org/certifications/">get certified</a> by the North American Board of Certified Energy Practitioners.I graduated in May 2023 and, after a summer job traveling to Alaska to create educational programs, started job searching in the solar industry in the fall.Now I'm the marketing and advocacy specialist at a good-size solar-installation company, <a target="_blank" href="https://exactsolar.com/">Exact Solar</a>. To come from the world of teaching and nonprofits and — just a year later — be at this spot in my career is shocking.<h2 id="98db2e40-09c5-416e-af18-2dc0a343ef6d">My solar-installation training helped me stand out</h2>When I started job searching in the <a target="_blank" href="https://www.businessinsider.com/new-passive-income-side-hustle-selling-electricity-neighbors-solar-panels-2023-12">solar industry</a>, I applied to some installer jobs and sales-side jobs, and I started marketing myself on Upwork as a copywriting consultant to make money immediately.<div type="image" title="Aaron Nichols on a roof installing solar panels" height="3264" width="2448" msid="111410013" hostid="261" sizebytes="721584"></div>Surprisingly, the consulting work picked up fast, before I was able to land a more traditional job. The fact that I had the <a target="_blank" href="https://www.businessinsider.com/sustainability-jobs-skills-gap-energy-transition-solar-carbon-emissions-2023-11">installer certification</a> made clients in the solar industry especially excited to work with me on the marketing side. The technical knowledge I brought benefited my work and helped me land exciting clients like <a target="_blank" href="https://mysuncast.com/#sign-up">SunCast Media</a>, which runs one of the most popular industry podcasts, and Exact Solar, which eventually offered me a full-time job.In a beautiful twist of fate, part of my job now is designing a curriculum for a workforce training program and helping promote solar installations we're putting in schools; so my teaching and nonprofit experience have ended up fitting into the puzzle of my solar career.There are so many places you can add value. The solar industry needs everything that any other industry needs, and the <a target="_blank" href="https://www.businessinsider.com/high-demand-renewable-energy-jobs-of-the-future-2019-8">growth is happening so fast</a>. Anyone who's in finance, advertising, or any other industry and is struggling should consider applying their skills to the solar industry because it's a much-bigger world than you think.<h2 id="fff963fa-f843-4eea-ae7b-0674a7d62c62">I'm excited about the freedom and the promise of the industry</h2>I'm deeply enjoying the flexibility this job offers me. I have a good salary, and since I <a target="_blank" href="https://www.businessinsider.com/hybrid-work-from-home-office-culture-remote-jobs-productivity-happiness-2024-6">work remotely</a>, I've moved into a farmhouse on 5 acres of land with my girlfriend and built a solar system to power our cell booster. I get to live in the woods and take archery breaks in the middle of the day.When I envision the future of my solar career, it seems like the sky's the limit. It's a very tight community, so once you know people, it's easy to get referral work if you're a contractor or start connecting with people at a high level who would be hard to reach in other industries.It's a very <a target="_blank" href="https://www.businessinsider.com/climate-jobs-career-grow-pay-well-high-salary-2024">financially viable career</a>, too. It's not just hippies hugging trees and trying to save the world — there's a lot of private-industry money coming in. I really like the idea that I can make good money, work a flexible job, and feel good about my impact on the planet.

Within a year of completing solar-installation training, I landed a full-time job that lets me live the life I want 

The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, places significant emphasis on <keyword id="19941381" type="General" weightage="20" keywordseo="energy-security" source="keywords">energy security</keyword> and sustainability. As per the government, the current strategy will focus on ensuring that energy resources are readily available, making energy affordable for all citizens and keeping energy costs low to prevent economic strain on consumers. Here's a breakdown of the key initiatives announced: <h2>PM Surya Ghar Muft Bijli Yojana</h2>One of the standout initiatives is the PM Surya Ghar Muft Bijli Yojana. This program aims to install <keyword id="20366573" type="General" weightage="20" keywordseo="rooftop-solar-plants" source="keywords">rooftop solar plants</keyword> across 1 crore households, providing up to 300 units of free electricity per month. As per the FM, the scheme has already seen significant interest, with over 1.28 crore registrations and 14 lakh applications. <h2>Pumped Storage Policy</h2>To enhance electricity storage capabilities and integrate more <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> into the grid, the government will introduce a policy promoting pumped storage projects. These projects are crucial for balancing the intermittent nature of renewable energy sources like wind and solar power. <div type="Article" hostid="261" msid="111956035" title="Union Budget 2024: What FM Nirmala took from your pocket, what she gave you" mstype="2" mssubtype="0"></div> <h2>Development of <keyword id="20876045" type="General" weightage="20" keywordseo="nuclear-energy" source="keywords">Nuclear Energy</keyword></h2>Recognising the importance of nuclear energy in India's future energy mix, the government plans to invest in new nuclear technologies. The announcement also mentioned partnering with the private sector to develop and set up Bharat <keyword id="20260886" type="General" weightage="20" keywordseo="Small-Modular-Reactors" source="keywords">Small Modular Reactors</keyword>. Boasting up to a 300 MW capacity, Small Modular Reactors are mobile, flexible in design and require a smaller footprint. Unlike conventional nuclear reactors that need to be built on-site, SMRs can be factory-built. These advantages can add up to significant savings in cost and construction time. <h2>Advanced Ultra Super Critical Thermal Power Plants</h2>The Budget highlights the completion of indigenous technology development for Advanced Ultra Super Critical (AUSC) thermal power plants. These plants boast higher efficiency and will be established through a joint venture between the National Thermal Power Corporation and Bharat Heavy Electricals Limited. The initiative includes government support for fiscal needs and aims to boost local production of high-grade steel and advanced metallurgical materials. <h2>Roadmap for Hard-to-Abate Industries</h2>A significant shift is planned for industries that are difficult to decarbonise. The government will move these industries from energy efficiency targets to emission reduction targets. This transition will be regulated through the Indian Carbon Market, replacing the current 'Perform, Achieve and Trade' mode. <h2>Support for Traditional Micro and Small Industries</h2>To promote cleaner energy usage and efficiency, the government will conduct energy audits in 60 clusters of traditional micro and small industries, including brass and ceramics. Financial support will be provided to help these industries switch to cleaner energy forms and implement energy efficiency measures. This initiative will be expanded to 100 more clusters in the next phase. As per Sameer Jain, Managing Director at Primus Partners, MSMEs consume approximately 50% of the nation's power needs while generating over 75% of greenhouse gas emissions. As a result, additional support — such as climate financing — will be crucial to ensure that the MSME sector adapts well to the green revolution, especially with how the budget has committed support to MSMEs to grow and compete globally. <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div> <h2><keyword id="22521154" type="General" weightage="20" keywordseo="climate-resilient-crops" source="keywords">Climate-Resilient Crops</keyword></h2>The government will release 109 high-yielding and climate-resilient varieties of 32 field and horticultural crops for cultivation by farmers. With the provision of research funding, including for the private sector, this move is part of a broader strategy to enhance agricultural productivity while adapting to climate change. <div type="Article" hostid="261" msid="111957080" title="What does Union Budget 2024-2025 have in store for farmers and the agricultural sector?" mstype="2" mssubtype="0"></div> <h2>Minerals for Green Technologies</h2>To support the growing demand for minerals used in green technologies, such as cobalt and lithium, the budget proposes exemptions from custom duties for 25 critical minerals and reduction on basic customs duty for two other essential metals. This move aims to bolster the domestic manufacturing of batteries and other components crucial for electric vehicles and renewable energy technologies. <h2>Development of Climate Taxonomy</h2>A new climate taxonomy will be developed to guide the green transition, ensuring that investments and policies are aligned with the goal of reducing carbon emissions and promoting sustainable practices. All in all, the Union Budget 2024-25 sets a promising course for India's energy and sustainability sector. With substantial investments and new initiatives, it aims to accelerate the transition to a greener future, and hopefully take us a step further towards India's net-zero emissions target by 2070.

Free solar electricity to mobile nuclear plants — major sustainability initiatives announced in Budget 2024!

Finance Minister Nirmala Sitharaman on Tuesday announced a cut in customs duty on minerals such as lithium, copper and cobalt, which are critical for nuclear energy, renewable and other sectors, to give a fillip to the energy transition. In her budget speech in Lok Sabha, Sitharaman recalled that in the interim budget she had announced a strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability. "We will bring out a policy document on appropriate energy transition pathways that balances the imperatives of employment, growth and environmental sustainability," she said. Noting that minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, space, defence, telecommunications, and high-tech electronics, she proposed to fully exempt customs duties on 25 critical minerals and reduce BCD (basic customs duty) on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she said. She stated that energy transition is critical in the fight against climate change. To support energy transition, she proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. Further, she stated that in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, I propose not to extend the exemption of customs duties provided to them. Noting that steel and copper are important raw materials and to reduce their cost of production, she proposed to remove the BCD on ferro nickel and blister copper. "I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said. About the PM Surya Ghar Muft Bijli Yojana, which was rolled out earlier this year, he informed the House that in line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month. The scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it, he stated. She further stated that a policy for promoting pumped storage projects will be brought out for electricity storage and facilitating smooth integration of the growing share of renewable energy with its variable &amp; intermittent nature in the overall energy mix. She stated that nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat. Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors; research &amp; development of Bharat Small Modular Reactor and research &amp; development of newer technologies for nuclear energy, she informed the House. The R&amp;D funding announced in the interim budget will be made available for this sector, she added. The development of indigenous technology for Advanced Ultra Super Critical (AUSC) <keyword id="20421620" type="General" weightage="20" keywordseo="thermal-power" source="keywords">thermal power</keyword> plants with much higher efficiency has been completed, she informed the House. A joint venture between NTPC and BHEL will set up a full-scale 800 MW commercial plant using AUSC technology and the government will provide the required fiscal support, she added. Moving forward, the development of indigenous capacity for the production of high-grade steel and other advanced metallurgy materials for these plants will result in strong spin-off benefits for the economy, she pointed out. A roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets' will be formulated, she stated adding that appropriate regulations for the transition of these industries from the current 'Perform, Achieve and Trade' mode to 'Indian Carbon Market' mode will be put in place. She further stated that an investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic, will be facilitated. Financial support will be provided for shifting them to cleaner forms of energy and implementation of energy efficiency measures. The scheme will be replicated in another 100 clusters in the next phase, she stated. Gaurav Kedia, Chairman, Indian Biogas Association said that the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024 has unveiled a roadmap towards a sustainable and resilient India, with agriculture and energy security at its core. It is anticipated that these initiatives will catalyze the growth of the biogas industry, leading to increased rural employment, reduced carbon emissions, and improved soil health, he stated. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank">Budget 2024-25 – Changes to tax slabs, increased standard deduction and other changes to direct taxation</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-record-allocation-of-rs-1-48-lakh-crore-for-education-employment-and-skilling/articleshow/111951228.cms">Budget 2024: Record allocation of Rs 1.48 lakh crore for education, employment and skilling!</a>

FM cuts customs duty on minerals critical for energy transition

IPOs of <keyword id="22105289" type="General" weightage="20" keywordseo="Aasan-Loans" source="keywords">Aasan Loans</keyword> (<keyword id="22105288" type="General" weightage="20" keywordseo="Akme-Fintrade" source="keywords">Akme Fintrade</keyword> India) and <keyword id="22105291" type="General" weightage="20" keywordseo="DEE-Piping-Systems" source="keywords" meta.keywordsubtype="org" meta.entityname="DEE Piping Systems" meta.hostid="261" meta.entityid="DEE Piping Systems">DEE Piping Systems</keyword> (DEE Development Engineers Limited) are set to hit the D-street for subscription today, and will close on Friday, 21st June. With a price band of Rs 114-Rs 120, Aasan Loans, which offers loans to rural and semi-urban populations, aims to raise 132 crores via a fresh issue of 1.1 crore shares. With its niche in vehicle and business financing, experts are advising staying away from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, given how competitive the Indian NBFC space is. The company also harbours significant NPAs, and has had some compliance issues in the past as well. The other mainboard IPO, <keyword id="22105286" type="General" weightage="100" keywordseo="DEE-Piping" source="keywords">DEE Piping</keyword> Systems, intends to raise Rs 418 crore via combination of fresh issue and offer for sale (OFS). While Rs 325 crores will be raised via fresh issue, Rs 93.01 crores will be raised via OFS. With its price band set between Rs 193-Rs 203, DEE specialises in providing piping solutions to oil, gas, chemicals and power industries. <cmsannotation type="cmsannotation" annotationid="SME IPO dashboard" comment="subhead" text="SME IPO dashboard">SME IPO dashboard</cmsannotation> While these are mainboard IPOs, 3 small and medium enterprises (SME), namely <keyword id="22105292" type="General" weightage="20" keywordseo="Falcon-Technoprojects-India" source="Orion">Falcon Technoprojects India</keyword>, <keyword id="22071172" type="General" weightage="20" keywordseo="Durlax-Top-Surface" source="Orion">Durlax Top Surface</keyword> and <keyword id="22105290" type="General" weightage="20" keywordseo="Gem-Enviro" source="keywords">GEM Enviro</keyword> are also opening for subscription today. The company, which aims to raise Rs 13.69 crore, offers mechanical and plumbing services, which includes installing air conditioners, water supply and lighting systems. Its share price has been set at Rs 92. The other company on the SME dashboard is Durlax Top Surface, which has 2 brands, namely LUXOR and ASPIRON. The company manufactures solid surface materials, which include UV acrylic solid sheets. The company wants to raise Rs 40.80 crore, out of which Rs 28.56 crore will be raised via fresh issue, and the remaining will be accumulated via offer for sale. The stock’s price band is set between Rs 65-68. Gem Enviro, which specialises in plastic waste management and recycling, aims to raise Rs 44.93 crore via this IPO. Stock analyst Dilip Dawda recommends investing in this IPO for medium to long-term gains, given that the company has paid dividend over the past 2 years <cmsannotation type="cmsannotation" annotationid="IPOs closing today" comment="subhead" text="IPOs closing today">IPOs closing today</cmsannotation> IPOs of <keyword id="22105287" type="General" weightage="20" keywordseo="GPES-Solar" source="keywords" meta.keywordsubtype="org" meta.entityname="GPES Solar" meta.hostid="261" meta.entityid="GPES Solar">GPES Solar</keyword>, which opened on 14th June, and United Cotfab, which opened on 13th June, are closing today. GPES Solar, which is in the business of solar inverters and panels, aims to raise Rs 31 crore. Its IPO was oversubscribed around 408.3 times. Retail investors oversubscribed to the share by around 519.57 times. However, Dawda recommends subscription to this IPO only if you are a market veteran and have surplus, long-term funds to park. The IPO of United Cotfab, which manufactures open-end cotton yarn, is also closing today. It was oversubscribed by 48.27 times in the retail investor category. While the company intends to raise Rs 36.29 crore entirely via fresh issue, experts have raised concerns about the company’s profitability and sustainability.

IPO Overview : DEE Piping, Akme Fintrade, GPES Solar

<ul class="summary-list"><li>China just issued draft regulations to rein in solar cell production.</li><li>This shows Beijing knows and is concerned about industrial overcapacity.</li></ul>China and the West are in disagreement over claims that the East Asian giant is <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-overcapacity-dumping-manufacturing-exports-economic-woes-world-yellen-2024-4">producing too much stuff</a> and depressing global prices.<a target="_blank" rel=" nofollow" href="https://english.news.cn/europe/20240507/0606e58b4cec4bb5ac749eacbda8d567/c.html">China has pushed back</a> against this notion, saying the West is trying to contain its economic growth.But Beijing recently released a new set of draft rules that show China knows and is concerned about overcapacity too — specifically in solar cell production.On Tuesday, China's industry ministry released new <a target="_blank" class="" href="https://www.miit.gov.cn/jgsj/dzs/gzdt/art/2024/art_16a86cc6229d4cf8b52c54dd01df7a74.html">draft regulation</a> to promote "high-quality development" in the industry. The draft rules are open for public consultation until Monday.The ministry did not explicitly target excess capacity but said in its proposal that it aims to guide solar cell companies to reduce manufacturing projects that "simply expand production capacity" while improving innovation, production, quality, and reducing production costs.China's industry ministry is looking to increase the ratio of capital that shareholders must invest in projects. This could limit the speed of industry expansion and curb overproduction.The new rules come as the solar industry deals with a glut of panels following years of breakneck growth. The sector is one key pillar of the country's <a target="_blank" rel="" href="https://www.businessinsider.com/china-economy-new-growth-areas-electric-vehicles-batteries-solar-property-2024-1">"new three" economic drivers,</a> so Beijing would want it to be sustainable.<h2 id="6cb67844-d629-4984-8a27-fc784059e960">China is producing more solar panels than the world can absorb</h2>As it stands, <a target="_blank" class="" href="https://www.businessinsider.com/china-solar-panel-supply-overcapacity-power-grid-demand-support-energy-2024-5">China is producing way more</a> solar panels than its power grid can handle. There's such a huge glut of solar panels worldwide that some people are using them as <a target="_blank" class="" href="https://www.businessinsider.com/china-flood-solar-panel-cell-market-garden-fence-overcapacity-yellen-2024-4">garden fencing.</a>China's solar module manufacturing capacity nearly tripled in 2022 alone before gaining another 84% in 2023, commodities consultancy Wood Mackenzie wrote in a report in April.Ed Crooks, the vice-chairman of energy at Wood Mackenzie, called the surge "most dramatic."Last year, China — the world's largest solar energy producer — installed fewer panels than it produced, per Wood Mackenzie.The oversupply caused a plunge in solar cell prices that even Chinese manufacturers are up in arms about.In May, the China Photovoltaic Industry Association called for more mergers and acquisitions, as well as restrictions on domestic competition to control capacity.On Monday, Longi, a major Chinese solar maker, said in a <a target="_blank" rel="noopener" class="media-ui-Link_link-tVkXhPLPofs-" href="https://sns.sseinfo.com/resources/images/upload/202407/202407051955023663989150.pdf">stock filing</a> that 2024 will be a "difficult year" for the company and industry. The company laid off thousands of workers earlier this year."The entire industry does not have the ability to support further price declines in the short term," Longi said on Monday.

China basically just admitted it's also concerned about solar panel overcapacity

<ul class="summary-list"><li>Demand for solar jobs is growing in response to clean-energy goals and government incentives.</li><li>Many entry-level solar jobs don't require higher education, and they offer on-the-job training.</li></ul>The solar industry has some of the <a target="_blank" href="https://www.businessinsider.com/solar-panel-industry-electricity-generation-us-eia-tariff-prices-trade-2024-2">fastest-growing occupations</a>, with jobs just in solar-panel installation in the US <a target="_blank" href="https://www.bls.gov/ooh/fastest-growing.htm">expected to grow by 22%</a> by 2032.One reason is the desire to meet environmental goals. The US Department of Energy estimated in 2021 that the solar workforce could add over 1 million workers by 2035 to achieve the goal of decarbonizing the electrical grid.To support these goals, the federal Inflation Reduction Act provides tax credits for qualifying <a target="_blank" href="https://www.businessinsider.com/us-renewable-energy-transition-solar-electric-vehicles-hit-records-2024-2">clean-energy investments</a>. <a target="_blank" href="https://unboundsolar.com/solar-information/state-solar-incentives">Many states</a> offer additional tax credits and rebates, and utility companies will sometimes cover some costs of solar installation.Individuals are looking to cash in on these incentives and avoid rising energy costs. The market-research company Grand View Research estimated that the size of the US residential solar market size was $7.5 billion in 2023. Corporations are getting in on the action, too: One year after the Inflation Reduction Act's passage, the White House said companies had announced more than $10 billion in solar-manufacturing investments.Compounding this demand is <a target="_blank" href="https://www.iea.org/reports/world-energy-employment-2023/executive-summary">a skilled-labor shortage</a> across clean-energy sectors, including positions in <a target="_blank" href="https://www.businessinsider.com/housing-crisis-national-shortage-construction-workers-job-demand-2024-5">installation and repair</a>. "We're such a nascent industry that there's just not a deep pool of folks who have all of the background needed to do all of the jobs," said Kate Collardson, a senior manager of residential operations at the solar company Omnidian.<h2 id="0bca2b28-7d7e-4b17-822e-fb52b66ffe4b">Solar jobs offer a low barrier to entry and high growth potential</h2>However, the shortage means there are many affordable, accelerated solar training programs designed to help people get their foot in the door. For example, this year Goodwill Industries of Middle Tennessee added a free four-week solar-installation program to its career-training lineup. Karl Wendt, the organization's career and technical academy director, said graduates leave with the basic certifications and experience needed to be useful installers.<div type="image" title="headshot of Karl Wendt wearing a dark blazer over a white button-up" height="1238" width="1214" msid="111410018" hostid="261" sizebytes="39538"></div>The mean hourly wage for solar installers in May 2023 was $25.55, which Wendt said was impressive given people can land those jobs with a high-school diploma and four weeks of training. "If you compare it to other jobs for that skill level and that time horizon, it's competitive," he said, adding that starting as an installer is a strong way to begin a green-technology career involving higher-level positions with higher compensation.Companies are increasingly willing to hire <a target="_blank" href="https://www.businessinsider.com/sustainability-jobs-skills-gap-energy-transition-solar-carbon-emissions-2023-11">less experienced employees</a> and offer them on-the-job training. Martin Pochtaruk, the CEO of the solar manufacturer Heliene, told Business Insider that many of his employees appreciated advancement opportunities. "Operators that come in at an entry level have become shift supervisors within a year," he told BI.Collardson added that people with backgrounds in areas such as marketing, engineering, and law could apply their skills to jobs at solar companies.<div type="image" title="headshot of Martin Pochtaruk wearing a gray blazer over a white button-up." height="620" width="482" msid="111410021" hostid="261" sizebytes="23804"></div><h2 id="adcd0715-2659-4953-b9d8-d7e30f321c6c">The solar industry can support long-term careers</h2>While Collardson acknowledged that specific solar jobs could grow or shrink as incentives and demands change, they said they believe there will <a target="_blank" href="https://www.businessinsider.com/gen-z-climate-jobs-skills-gap-linkedin-2024-6">always be jobs in the solar industry</a> for those willing to be flexible.Collardson said they see a lot of <a target="_blank" href="https://www.businessinsider.com/climate-jobs-career-grow-pay-well-high-salary-2024">long-term promise</a> in their career path in operations and maintenance. "It doesn't matter how much solar we install on the planet — if the solar doesn't work, it doesn't mean anything," they said. "Operations and maintenance providers ensure that the solar is working."Wendt argued that training in solar now would help people get a head start in an industry that will continue to gain relevance. "You get in on the ground floor of anything that's growing very rapidly, and it's always going to be beneficial," he said.Pochtaruk said solar is <a target="_blank" href="https://www.businessinsider.com/new-passive-income-side-hustle-selling-electricity-neighbors-solar-panels-2023-12">far from a passing trend</a>. "This is not stopping," he said. "This is a force that is changing the way we work, the way we power our life, and, as such, is a great employment opportunity."

Solar jobs are in high demand and have a low barrier to entry — now is the time to break into the industry

<ul class="summary-list"><li>SunPower shares fell 73% this week as the company said it would halt some operations. </li><li>Shares were down 54% Friday to trade at $0.68, an all-time low.</li></ul>Shares of SunPower tumbled this week after the residential solar installer paused operations as demand for home solar power declines.The company's shares were down 54% Friday afternoon, trading at $0.68. The stock is down almost 73% over the week."We think this effectively marks the end for SPWR as an operating business," Guggenheim analyst Joseph Osha said in a Friday note obtained by CNBC.The company announced a pause in some operations, including new solar installations, leases and shipments, and said it is looking for other providers to take over sold projects.Osha said this decision could mark a "winddown process" for the company, which will likely sell remaining assets and delist its stock. Guggenheim Securities cut SPWR's price target from $1 to zero.The residential solar industry has faced headwinds recently, with demand slowing as interest rates remain high. Tax credits from the Biden administration's Inflation Reduction Act have previously helped the industry, but investors now fear the end of the IRA as the Trump campaign picks up steam ahead of the presidential election.Osha called SunPower's downfall a "sad end for an industry pioneer."

SunPower stock plummets 73% in a week to trade below a dollar as the residential solar company pauses operations

<ul class="summary-list"><li>Germany has installed more solar capacity than consumer demand requires, SEB Research found.</li><li>During peak solar production hours, producers have taken a 87% price cut in the past 10 days.</li></ul>Sunny days in Germany mean gray clouds for solar profitability as the nation's dive into renewables has left it with too much energy.According to a note from <a href="https://research.sebgroup.com/macro-ficc/reports/49776" target="_blank" rel="noopener">SEB Research</a>, in the past 10 days, solar producers have had to take an 87% price cut during production hours. In fact, when production peaks, prices have slid well below zero.On average, the price received was 9.1 euros per megawatt-hour, significantly under the 70.6 euros paid during non-solar-power hours."This is what happens to power prices when the volume of unregulated power becomes equally big or bigger than demand: Prices collapse when unregulated power produces the most," the Swedish bank wrote on Tuesday.Last year's record wave of solar installations are what's driving Germany's price "destruction" as inventory outpaces consumption. While total solar capacity topped 81.7 gigawatts by 2023's end, demand load only reached 52.2 gigawatts, noted SEB chief commodities analyst Bjarne Schieldrop.The difference between the two actually widens even more in the summer, a season of peak production and lower demand. This also means that consumers are not necessarily benefiting from the low prices, as they typically consume more energy in non-solar hours. Unless new installations are spurred on by subsidies or power purchase agreements, oppressed profitability could eventually halt Germany's solar expansion, Schieldrop said. Instead, focus is likely to move onto improvements that will make more use of the energy produced, such as investments in batteries and grid infrastructure."This will over time exhaust the availability of 'free power' and drive solar-hour-power-prices back up," Schieldrop wrote. "This again will then eventually open for renewed growth in solar power capacity growth."The supply-demand imbalance is neither a new issue for Germany, nor is the country alone in experiencing it. The European market has raced to install solar capacity through last year, a move made urgent after Russia cut off its energy supplies to the continent.A European green-energy-supply glut — further extended by wind turbine and nuclear expansions — has <a href="https://markets.businessinsider.com/news/commodities/european-electricity-prices-negative-green-energy-wind-solar-renewable-demand-2023-7#:~:text=European%20electricity%20prices%20tumble%20into%20negative%20territory%20amid%20glut%20of%20green%20energy&amp;text=Electricity%20prices%20in%20Europe%20fell,in%20an%20abundance%20of%20supply.">triggered previous instances of negative price dips</a>.In reality, this doesn't mean that consumers are reimbursed to use electricity, as they're not paying raw market price. Instead, rates are typically agreed on beforehand.

You Searched For "solar installations" and got 11 results

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IPO Overview : DEE Piping, Akme Fintrade, GPES Solar

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