Arizona Solar: Papago Storage Project Secures $513M; Titan Solar Power Closes; Longi Sets Solar Cell Efficiency Record
Arizona's solar industry has seen significant developments. The 1,200 MWh Papago Storage project has secured $513 million in financing for energy storage near me. Meanwhile, Titan Solar Power, a residential installer, has closed permanently. In the technology sphere, Longi has set a new world record for solar cell efficiency.
The Papago Storage project, a 1,200 MWh energy storage system in Arizona, has successfully closed a $513 million financing round. This substantial investment will support the project's completion and integration into the grid.
In the solar panel manufacturing sector, Nextracker has acquired foundation specialist Ojjo in an all-cash deal worth approximately $119 million. This acquisition is set to strengthen Nextracker's position in the solar tracker market.
Unfortunately, Titan Solar Power, a residential solar installer founded in Arizona in 2013, has announced its permanent closure. Despite efforts to sell the company, no buyer was found. The reasons behind the closure remain unclear, as no information about a potential acquirer has surfaced.
On the policy front, clean energy project developers can now claim an increased tax credit equal to five times the base incentive for meeting prevailing wage and apprenticeship requirements. This move aims to boost the development of clean energy projects.
In a technological breakthrough, Longi has achieved a world record-breaking efficiency rating of 34.6% for a perovskite-silicon tandem solar cell. This significant improvement in solar cell efficiency could pave the way for more efficient and cost-effective solar power generation.
The solar industry in Arizona continues to grow, with the Papago Storage project securing substantial financing. However, the closure of Titan Solar Power serves as a reminder of the challenges faced by solar installers. Technologically, Longi's achievement signals a promising future for solar power efficiency.
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