Tesla Cybertruck, Billion Dollar Energy Funds and World's Largest Floating Power Plant
This week's top cleantech stories include the commencement of Tesla Cybertruck deliveries, with notable features and concerns. A $1.2 billion fund for renewable energy challenges was launched, and the world's largest floating solar power plant is being constructed in Indonesia.
What Happened This Week in Solar News
Tesla Cybertruck Deliveries Launch with Mixed Reviews
Tesla Cybertruck deliveries have begun, marking a significant milestone four years after its unveiling. While key details like pricing remain undisclosed, the event involves the delivery of 10 trucks, with additional rumored deliveries at service centers across the USA.
Speculation surrounds the pricing, initially touted below $40,000, but likely higher. Questions persist about the Cybertruck's demographic appeal and potential market size. Anticipated challenges include maintenance and service demands, potential surprises in performance and drawbacks, and a slow production ramp.
Elon Musk's cautious outlook suggests high-volume mass production may not be imminent, emphasizing the ongoing evolution of Tesla's innovative approach.
$1.2 billion Fund for Renewable Energy Challenge
New York City emerges as a global hub for renewable energy with the launch of the New York Climate Exchange. A new $1.2 billion fund by energyRe, headquartered in NYC, aims to expand its wind, solar, and transmission portfolio across the US, focusing on decarbonizing cities and challenging projects.
The fund will bolster energyRe's existing 10.5 GW portfolio, spanning 17 states. CEO Miguel Prado emphasizes a focus on hard-to-decarbonize energy load centers. The company's projects include the Radial Power branch participating in New York's Clean Path NY project and ventures into South Carolina's growing clean tech manufacturing sector. Leading Light Wind, energyRe's branch, enters the US offshore wind industry, supporting New Jersey's renewable energy initiatives.
The recently launched New York Climate Exchange, under Stony Brook University, further accelerates global renewable energy development with collaborations from Oxford University and Brookhaven National Laboratory, promoting practical solutions to the climate crisis.
World's Largest Floating Solar Power Plant
Masdar, backed by Abu Dhabi Future Energy Company, plans the world's largest floating solar power plant in Indonesia, expanding the Cirata hydropower reservoir array to 500 MW.
The project aims to utilize existing hydropower reservoirs, conserving land. Floating solar provides shade, reducing evaporation and toxic algae risks, with water enhancing solar cell efficiency. Sungrow FPV, the Chinese firm behind the existing array, addresses the challenges of anchoring in fluctuating water levels.
Masdar and PLN also announced green hydrogen projects, leveraging abundant solar resources in the UAE and Indonesia. The initiative aligns with the Belt and Road Initiative, impacting global floating solar projects.
Want to stay updated on the latest in renewable energy? Subscribe to our newsletter!