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March 24, 2015 in Electric Vehicles, EV News, Greentech

EV News Stars of the Week (Click Pic)

Electric vehicle news and greentech news updated frequently (latest 3 stars highlighted).

Breaking Electric Vehicle News

DOE highlighted Local Motors 3D car maker today. LM plans to start sales fall, not Strati (3DPrint.com).

Fed’s Yellen sees rate increase sometime 2015 and gradual thereafter over few years (Bloomberg).

DOE possible $259 million loan (ATVM) to Alcoa. Alcoa would use loan for Tennessee high-strength aluminum for autos, 200 jobs long-term.

European C. (Arias Cañete) looking to “further CO2 standards for vehicles” June 18 meeting Brussels. Renewables & EVs moving world forward.

Simple metric to judge US Congress

Gasoline demand averaged 8.8 mb/day over the last four weeks (EIA, week ending 3-20-15), up .4% yoy. Demand eased slightly from last week.

Bond Bubble

The bond bubble will likely burst in 2015. President of St. Louis Federal Reserve James Bullard stated on Bloomberg (1-30-15) that he sees unemployment under 5% in Q3. Given the multiple potential problems with the international oil market, it is not difficult to imagine panic in the bond market.

“The last asset I would want to buy is a 30 year government bond.” – Warren Buffett (Fox News interview 2-4-15)

“Solar, wind and EV markets driving extended investment and employment boom. Fed has it wrong.” – Jack Collins 3-18-15

US Unemployment Rate Historic, 5.5% Latest Data Chart courtesy of US Bureau of Labor Statistics Breaking Electric Vehicle News

US Unemployment Rate Historic, 5.5% Latest Data
Chart courtesy of US Bureau of Labor Statistics
Breaking Electric Vehicle News

Peak Oil

Post Carbon Institute expects global oil production to start declining again in late 2015. The US Dollar’s reserve status will only blunt US inflation in the peak oil era. The bond bubble will burst. Gold and silver will rise.

China will float the Yuan to gain reserve currency status. However, weak oil dependent nations will suffer during peak oil. Eventually, humanity riding electric vehicles powered by greentech will kick its addiction to oil. A rising Yuan will float the currencies of the East. The Euro region will integrate its financial system. The world will be more stable under three major reserve currencies.

Latest Electric Vehicle News and Greentech News Below

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SunEdison Purchases 1,000 Energy Storage Systems From Imergy To Bring Electricity To Villagers In Rural India

March 28, 2015 in Asia, Battery, California, Environment, EV News, Flow Battery, Fremont, India, Large Energy Storage, Renewables, Solar

Photo courtesy of Imergy SunEdison Purchases 1,000 Energy Storage Systems From Imergy To Bring Electricity To Villagers In Rural India

Photo courtesy of Imergy
SunEdison Purchases 1,000 Energy Storage Systems From Imergy To Bring Electricity To Villagers In Rural India

BELMONT, Calif. — SunEdison, Inc. (NYSE: SUNE), the world’s largest renewable energy development company, today (3-25-15) announced that it plans to purchase up to 1,000 vanadium flow batteries (over 100 megawatt hours) from Imergy Power Systems, a leader in advanced energy storage solutions.

The vanadium flow batteries will be used to store solar-generated electricity for SunEdison’s rural electrification and solar powered minigrid projects in India.

“Energy storage is the perfect complement to solar powered minigrids because it enables us to provide dependable, 24/7 electricity,” said Ahmad Chatila, President and Chief Executive Officer of SunEdison. “And Imergy’s technology is a great fit for rural electrification because their systems are high performance, low cost, ultra-durable and need very little maintenance.”

“Imergy is proud to be working with SunEdison to bring electricity to the under-served in rural India,” stated Bill Watkins, Chief Executive Officer of Imergy Power Systems. “Imergy’s storage systems are safe and sustainable, and provide the lowest cost and most reliable way to store energy for these minigrids.”

SunEdison will also increase its equity investment in Imergy. This strengthens the supply relationship between the two companies as SunEdison begins deployment of its extensive rural electrification program in India.

About SunEdison
SunEdison is the world’s largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company manufactures solar technology and develops, finances, installs, owns and operates wind and solar power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world’s largest renewable energy asset managers and provides asset management, operations and maintenance, monitoring and reporting services for its renewable energy customers around the world. Corporate headquarters are in the United States, with additional offices around the world. SunEdison’s common stock is listed on the New York Stock Exchange under the symbol “SUNE.” To learn more visit www.sunedison.com.

About Imergy Power Systems
Imergy Power Systems is a leader in stationary energy storage solutions using innovative flow battery technology. Its proven Energy Storage Platform (ESP) provides a total solution to reduce energy cost and optimize renewable power generation while improving overall power reliability. Imergy Power Systems is headquartered in Fremont, California, USA, with additional operations in Europe, Asia, and the Americas. The Company’s investors include venture capital firms NEA, Technology Partners, and Blue Run. For more information about the company, please visit www.imergy.com or follow us on Twitter.

This article (3-25-15) is an EV News Report repost, credit: Imergy.

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Telsa to Localize Production in China in 3 years: Elon Musk

March 28, 2015 in Asia, California, China, Electric Vehicles, EV charging, EV News, Model S, Musk, North America, Palo Alto, Supercharger, Tesla

Photo courtesy of Tesla Telsa to localize production in China in 3 years: Elon Musk

Photo courtesy of Tesla
Telsa to localize production in China in 3 years: Elon Musk

BEIJING – Telsa Motors plans to localize production and engineering in China, CEO Elon Musk told Xinhua on Friday, pledging long-term commitment to the market.

“We have a strong long-term commitment to China, and we tend to establish both local production and local engineering in China,” Musk said.

Localization could be possible “in three years”, he said.

In the meantime the company has to keep shipping models from the United States to China because their factory is not at full capacity.

Once the factory reaches full capacity, it is “just the sensible logical thing” to “localize production in China for the Chinese market, in Europe for the European market,” Musk said.

The California-based electric car maker began taking orders in China in mid-2013 for its largest product, the Model S sedan, and started delivering the first cars to Chinese consumers last April.

However, sales in China last year fell short of Tesla’s initial expectations, which reportedly triggered an executive reshuffle for its China team.

Musk acknowledged Tesla had a rough start in China last year. But he also emphasized that the company, founded in 2003, is still in its infancy, despite wide-spread perception that “Tesla is huge”.

Meanwhile, he said speculators and scalpers misled the company to believe that the demand for the cars was “extremely high” during the launch. But when the cars arrived, the speculators canceled their orders, leading to excessive inventory.

“China is the only place on Earth that we have excess inventory. We are essentially selling cars that speculators ordered but we are not able to take delivery on,” the CEO said.

In this “speculation hangover,” which Musk used to describe the current period half-jokingly, Tesla will work hard to focus on its core customers, including addressing the charging anxiety, the No.1 concern of the Chinese consumers.

Tesla is dramatically increasing its super-charging network, and providing all customers in China with mobile adaptors that will allow them to charge anywhere, Musk said.

The company is also improving built-in maps and navigation, with a software upgrade coming out this week. It will integrate the traffic-based routing in the next few months, according to the CEO.

Musk said he has seen a steady increase in sales in China over the past three months and is “quite optimistic about where things are heading”.

Tesla will continue to build charging infrastructure and establish a lot more stores in addition to the service centers, according to Musk.

“It is clear that we need to think of China in a very long-term way. We need to steadily boost the confidence of the Chinese consumers,” he said.

The CEO doesn’t think the economic slowdown in China will affect Tesla’s commitment to the market. “China is attractive right now, and in long term,” he said.

This article (3-27-15) is an EV News Report repost, credit: Xinhua.

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Portland MAX Orange Line – On Time and Under Budget

March 27, 2015 in Electric Vehicles, EV News, Light Rail, North America, Oregon, Portland, Rail

Photo courtesy of TriMet Portland MAX Orange Line – On Time and Under Budget

Photo courtesy of TriMet
Portland MAX Orange Line – On Time and Under Budget

With the Portland-Milwaukie Light Rail Transit Project – the future MAX Orange Line – substantially complete, TriMet today announced that the project is not only on schedule, but also millions under budget.

The overall $1.49 billion project is under budget in the range of $10 million to $40 million, and the Federal Transit Administration will keep its proportional contribution towards the project of 50 percent. This leaves local savings likely in the range of $5 million to $20 million.

“Not only are we improving our transit system with this project, we’re delivering it on time and under budget,” said TriMet General Manager Neil McFarlane.

The MAX Orange Line will open on schedule on Saturday, Sept. 12, 2015, and while construction is 95 percent complete, the federal funding process continues through 2019. Until the federal appropriations process is complete, the project will continue to incur costs, which is why the savings is given as a range.

McFarlane added “I’m tremendously proud of our team, our partners and our contractors whose hard work and collaboration resulted in a great project and a terrific outcome.”

McFarlane said much of the savings is due to historic low interest rates. He said it’s too early to speculate on possible uses of the final savings until the final close out of the grant in 2019.

What happens to the savings?
With the help of U.S. Senator Jeff Merkley, the Federal Transit Administration granted permission for TriMet to add back some previously approved project elements that were eliminated during the final negotiation in 2011 of the full funding grant agreement. The FTA will fund 50 percent of these items, which will improve our winter operations with additional heated switches and ice cap installed on top of the overhead power wire. It also includes adding shelters at MAX stations along the Orange Line. These restored elements cost about $3.6 million. TriMet cannot add new project elements that are outside the project construction scope, which was determined by the Environmental Impact process and agreed to by the project’s local governmental partners.

The exact savings will not be known until Federal appropriations conclude, currently estimated to occur in 2019. Until then, the project will incur costs, primarily the interest on interim financing needed to make the longer federal funding schedule match up with a shorter construction schedule. Final accounting of local savings will depend on interest rates and the level of annual Federal appropriations over the next three to four years. Any refunds to local partners will be guided by Intergovernmental Agreements for project funding. In addition, any bond proceeds could only be used for purposes spelled out in the bond documents. In TriMet’s case the bond funds can only be used on capital, not operations.

Orange Line opens in 168 days!
With just 168 days until the MAX Orange Line opening, work continues on the 7.3-mile project, including:

  1. Construction of stairs and elevators at the SE Bybee Blvd Station
  2. Building the 355-space surface Park & Ride at the SE Tacoma St/Johnson Creek Station
  3. Art installations continue at many stations along the line
  4. A MAX clearance test has to be completed on the south end of the project to verify the train’s interface with the track, electrical switches, wayside equipment and the Overhead Catenary System.
  5. Nearly 1,400 bus and train operators are going through training on safe operations over the Tilikum Crossing, Bridge of the People, as well as the dedicated busway in inner SE Portland
  6. Safety education for students from the 17 schools near the alignment will begin in May
  7. Completion of the comprehensive Safety Certification process
  8. Moving the first powered MAX train along the entire length of the project from the Lincoln St/SW 3rd Ave Station in Downtown Portland to north Clackamas County in mid-May

This article is an EV News Report repost, credit: TriMet.