Venture Capital and Cleantech weekly update

NRG Energy (NRG) bought Roof Diagnostics Solar (RDS), the eighth-largest solar installer in the U.S., as part of its drive to be a leader in the residential sector. Terms of the transaction were not disclosed. The company will complement and be rolled into NRG’s existing rooftop unit NRG Residential Solar Solutions that mainly consists of licensed dealers. “With the price of residential solar … [Read more...]

Morgan Stanley: Going off grid nears tipping point

Going Off Grid Nears Tipping Point, Morgan Stanley Reports (via Clean Technica) Originally published on RenewEconomy. Investment bank Morgan Stanley says it has been overwhelmed by the response to its recent analysis which suggested that the falling costs of both solar modules and battery storage presented a potential tipping point… … [Read more...]

Venture Capital and Cleantech weekly update

Off-Grid Electric, a Tanzania-based company providing solar lighting services in Africa, received a $7 million investment from SolarCity (SCTY), and venture firms Vulcan Capital and Omidyar Network. Existing investors Jasmine Investments, Givia Pty, The World We Want Foundation, Segal Family Foundation, Mulago Foundation, Serious Change LP, and BW-JVE Investments also participated in the … [Read more...]

Exxon Mobil agrees to report on climate change and carbon asset risk

LANDMARK AGREEMENT WITH SHAREHOLDERS: EXXONMOBIL AGREES TO REPORT ON CLIMATE CHANGE & CARBON ASSET RISK (via Investorideas.com News ) Withdrawal of Shareholder Proposal Seeking Disclosure on Stranded Carbon Assets Leads to Agreement with Largest U.S. Oil and Gas Producer Ideas get bigger when you share them...    NEW YORK CITY - March 20, 2014 (www.investorideas.com newswire… … [Read more...]

Institutions snap up Green Bonds as more investors see clean energy returns

The appetite for Green Bonds is beginning to expand far beyond niche investors as the economic and social benefits of clean energy projects combine for a very attractive investment product. Green Bond (sometimes called climate bonds) issuances increased more than fivefold in 2013, with 29 deals worth a total of $11.2 billion according to Dealogic. 11 bonds have already been issued in 2014, worth a … [Read more...]

Venture Capital and Cleantech weekly update

Complete Solar Solution Inc., a provider of residential systems, raised $5 million to expand in California and into the U.S. Northeast. Ecosystem Integrity Fund led the round, which included a contribution from Floodgate Capital, an investor in the seed round. The company has raised a total of $6.6 million and doesn’t expect to require additional equity funding as it targets annual revenue of … [Read more...]

House Passes Building Energy Efficiency Bill

House Passes Building Energy Efficiency Bill (via Solar Feeds) In a surprise move, the US House passed an important energy efficiency bill, the first bipartisan bill on energy policy since 2007 - the Better Buildings Act of 2014. Sponsored by Reps. David McKinley (R-WVA) and Peter Welch (D-VT), it establishes… … [Read more...]

The Carbon Bubble continues to grow as multiple reports warn of risks to financial markets

Image courtesy of the Carbon Tracker Initiative

Several new reports came to light last week warning investors and governments of a potential ‘Carbon Bubble’ that has inflated the market value of fossil fuel companies and increased the risk of financial markets. Banks, government pensions, and other institutional investors could see $1 trillion of fossil fuel assets currently in reserve at risk if policymakers agree to cut emissions of … [Read more...]

The next wave of utility innovation: energy storage

The Next Wave Of Utility Innovation (via Clean Technica) Originally published on the ECOreport. The next energy storage breakthrough will be in efficiency, rather than time. During high-peak-demand times, utilities charge commercial customers a premium (per kW) called “demand charges.” These charges often… … [Read more...]

Venture Capital and Cleantech weekly update

Opower, which provides software to utilities to help homeowners reduce their energy use, said that it would raise $100 million in its initial public offering, making its plans public after filing confidentially for an I.P.O. last month. The company has raised about $67 million in preferred equity so far. New Enterprise Associates owns 21.8% of shares, MHS Capital Partners has 8.3%, and Accel … [Read more...]