Big Names Assist to Reduce Solar Costs

Bill Gates' income has afforded several outstanding advances for people and now, he's assisting to advance the solar industry through his, Breakthrough Energy Ventures company.

Breakthrough Solar Energy Ventures

In the news recently, we gained word that Bill Gates’ energy fund Breakthrough Energy Ventures began negotiations with Alphabet, a holding company that gives the projects, freedom, and focus on creating ideas come to life.

Alphabet, the parent company of Google, has stepped in to fund a new energy storage project. With them, the state of Massachusetts participates in the list of States looking to set the bar at 100% renewable energy. This joint is intent on developing a molten-salt storage project to expand on an innovative energy storage project, known under its code-name Project Malta.

Projects like these will potentially lower solar costs worldwide. This project is aimed towards storing thermal energy in tanks made of molten salt. The thermal energy would start in the form of renewable electricity primarily generated by wind turbines and panels. This electricity would then be converted into thermal energy before being stored in the molten salt tank.

Robert Laughlin, who previously won a Nobel Prize, is leading Project Malta’s efforts. There has been no definite word on the finalization of the deal. However, we do know that Breakthrough Energy Ventures, the possible funder, is a $1 billion fund allocated to investing in clean energy technologies and other climate change initiatives.

Solar Solutions

Energy storage is a issue plaguing several of the solar energy markets, especially the panel industry. Harnessing Earth's natural and renewable energies is much easier than holding on to them. So to overcome this hurdle, new innovative battery technologies are being tried.

If triumphant, this type of energy storage will likely be less expensive and more efficient at storing solar energy for long periods of time than current storage technology. It’s a big hurdle that Project Malta, with the aid of Breakthrough Energy Ventures, expects to take on. Along with this massive Gates/Alphabet venture, the state of Massachusetts' Senate approved energy bills to spur renewable energy growth.

The Senate approved a package of progressive energy mandates in bill S.2545. Titled “An Act to promote a clean energy future,” earlier this month. This bill introduced measures focused towards creating the clean energy industry, such as including eliminating Massachusetts’ net metering cap and setting a 100% renewable energy command by 2047.

On top of setting new targets and way points for solar energy use in Massachusetts, S. 2545 also puts further restrictions on the varieties of demand prices that utility companies have been placing on their energy customers. If this law passed, this would oppose demand charges set for implementation for new solar customers at the beginning of 2019.

We have seen economic powerhouses such as Bill Gates and Alphabet stepping in to fund a new energy storage projects. And at the same time, the state of Massachusetts joins the growing list of States looking to set the bar at 100% renewable energy. This activity demonstrates a surely exciting time to see investment and legislation driving what is sure to be a clean energy revolution.

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