The U.S. Department of Energy (DOE) through its Loan Programs Office (LPO) today announced the closing of a $861.3 million loan guarantee to finance the construction of two solar photovoltaic (PV) farms equipped with battery storage and two standalone battery energy storage systems (BESS) in Puerto Rico.
“The project is financed under Title 17 Clean Energy Financing Section 1706. Created by President Biden’s Inflation Reduction Act (IRA), EIR can finance projects that retool, repower, repurpose, or replace energy infrastructure that has ceased operations or enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or greenhouse gas emissions,” LPO said. Continue reading
September 2024 Global Light Vehicle Sales Down Slightly
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The Global Light Vehicle (LV) selling rate for September stood at 90 million annually, in line with August’s results, according to an analysis just released by the respected GlobalData consultancy.* Looked at year-over-year (YoY), market volumes are continuing to trend downwards as sales were down ~ 4% versus September 2023. Furthermore, YTD sales are now only up fractionally compared to the same period last year.
“In September, sales were down across most regions. Sales in China fell 5% YoY, as the economy faces headwinds and despite the ongoing scrappage incentive. In the US sales fell YoY for the month, with this September having fewer selling days. Finally, sales in Western Europe remained underwhelming, as a weak economy and high vehicle prices dragged on LV market activity,” said the Global Light Vehicle Sales Forecasting Team. Continue reading →