BrightSource’s giant solar proposal, the 392-megawatt Ivanpah project, cleared a key hurdle yesterday –- it received approval from the California Energy Commission. The project will span 3,600 acres (pared down from a planned 4,000 acres after environmentalists complained) and could provide enough energy to power 140,000 homes. The Department of Energy granted the company a $1.4 billion loan for the project (the Ivanpah site is pictured below). We reported yesterday that BrightSource, which has raised $330 million to date, is poised to pursue an IPO in 2011.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":215514,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,enterprise,","session":"C"}']DuPont announced it expects $1 billion in revenues from its photovoltaic solar division this year, an improvement from its previous forecast, which didn’t expect to cross that milestone until 2011. The chemicals giant makes a film and a paste used in building photovoltaic solar cells. DuPont’s forecast was encouraged by research that showed solar technology is getting cheaper and more competitive with traditional energy sources.
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Spending on the smart grid services market is poised to hit $4.3 billion by 2015, according to a new report from Pike Research. The report forecasts that spending on smart grid services next year will reach $821 million, 75 percent more than the $470 million to be spent this year. Utilities, analysts say, lack the know-how to fully implement smart grids on their own, hence the projected boom in the market for consultants, maintenance and deployment services. And in other smart grid forecasts, GTM Research said yesterday that the overall smart grid market in the U.S. will be worth $9.6 billion by 2015.
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