California Gov. Gavin Newsom has signed Senate Bill 1340, which extends the existing property tax exclusion for newly constructed, active solar energy systems by two years.

“The COVID-19 pandemic and supply chain delays have contributed to project delivery interruptions, including planned solar energy projects,” Gov. Newsom says in a statement. “That said, this policy has a direct impact on property tax revenues that support essential services at the local level. I believe this two-year, temporary extension strikes an appropriate balance between ensuring that these delayed solar projects are brought online quickly, while recognizing the impacts to local governments.”

“Further, this year’s budget included $300 million to create the Local Government Budget Sustainability Fund, which provides bridge funding to support county governments who are committed to advancing climate resilient projects that will bolster local revenues and contribute to long-term budget sustainability,” Gov. Newsom continues. “In signing this bill, I urge the legislature to consider the impacts to local agencies before bringing forward another extension of this policy.”

“Gov. Newsom’s signature on this two-year tax exclusion will help ensure solar and storage projects continue providing clean, reliable power to California at a time of unprecedented stress on the state’s electric grid,” says Rick Umoff, senior director and counsel for California at the Solar Energy Industries Association (SEIA). “With incentives in the Inflation Reduction Act, California’s solar market is expected to nearly double in size over the next five years to 61.5 gigawatts of electricity generation capacity. This growth requires tens of thousands of workers and billions of dollars of private investment, and companies now have near-term tax certainty to ensure these investments are made in the California communities that rely on a robust clean energy economy.

“The solar and storage industry thanks Senator Hertzberg and dozens of clean energy champions in the Legislature for recognizing the importance of this exclusion and getting it extended,” Umoff adds. “SEIA now turns its focus to securing a well-rounded energy policy in California that strengthens every sector of this critical industry.”

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Independent power producer Silicon Ranch Corp. and solar recycling platform SOLARCYCLE are partnering to process end-of-life solar modules from Silicon Ranch projects through SOLARCYCLE’s advanced, high-recovery recycling platform. SOLARCYCLE’s approach to module recycling recovers approximately 95% of solar panel value, which can be returned to the supply chain and used to manufacture new panels.

With an operating portfolio of more than 145 solar power facilities across 15 states, Silicon Ranch is SOLARCYCLE’s first utility-scale partner. The partnership between the two companies will allow SOLARCYCLE to establish a model for recycling solar materials at the utility scale.

“As the long-term owner of every project in our portfolio, we at Silicon Ranch are deeply committed to our relationships and responsibilities in the communities we serve. These responsibilities include end-of-life equipment management,” says Reagan Farr, Silicon Ranch’s president and CEO. “Embracing this opportunity to pioneer recycling and re-use processes at scale with SOLARCYCLE is a significant step in meeting these responsibilities. This partnership supports our commitments to advance domestic solar manufacturing, a circular solar economy, and economic development opportunities in communities across the country.”

“SOLARCYCLE’s team is taking what we learned in the solar, sustainability and recycling industries and applying it to our tech-driven recycling solutions. We know that scale matters in order to be able to drive costs down and bring quality up,” states Suvi Sharma, CEO and co-founder of SOLARCYCLE. “We are thrilled that our partnership with Silicon Ranch–an innovative leader in bringing solar to scale sustainably and responsibly–will help us make solar across America fully sustainable.”

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Azure Power Global Ltd., an independent sustainable energy solutions provider and renewable power producer in India, has entered into an agreement for 600 MW DC of high-performance, advanced thin-film photovoltaic (PV) solar modules from First Solar Inc. The agreement is the first for production from First Solar’s new manufacturing facility in Tamil Nadu, India, which is expected to be commissioned in the second half of 2023. Under the agreement, Azure Power is expected to take delivery of First Solar’s Series 7 PV solar modules from the fourth quarter of 2023 to 2025.

“We are pleased to partner with First Solar with their latest Series 7,” says Rupesh Agarwal, acting CEO of Azure Power. “Having a long-term agreement with global solar modules technology leaders like First Solar is key to de-risking our supply side with the latest technology available in the market.”

First Solar’s vertically integrated manufacturing facility, located near Chennai, is projected to have an annual nameplate capacity of 3.3 GW DC and is expected to produce a version of the company’s Series 7 modules that is optimized for the Indian market.

“Our relationship with Azure Power goes back over a decade and we are pleased that it is the launch customer for a product that has not only been designed for India, but made in India, for India,” states Georges Antoun, chief commercial officer at First Solar. “This deal demonstrates how experienced developers and independent power producers in India are increasingly taking a strategic view on procurement and securing long-term commitments that help tackle the risks of short-term pricing and supply volatility. When working with First Solar, they benefit from certainty of pricing and supply, and a technology that is advantaged in India’s operating environments.”

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Matrix Renewables, the TPG Rise-backed global renewable energy platform, has secured a 4.6 GW portfolio of utility-scale solar energy projects across the central U.S. It has also signed a broader development joint venture with the projects’ original developer, SolarStone Partners. The two will jointly develop the 4.6 GW portfolio, while exploring and originating additional opportunities across different markets in the U.S.

“Matrix is very excited to partner with SolarStone in the further development of this portfolio and looks forward to our ongoing collaboration on new opportunities across the country,” says Cindy Tindell, managing director and head of U.S. business for Matrix Renewables.

“We could not ask for a better partner than Matrix Renewables to help SolarStone expand its U.S. utility scale renewables business,” adds Joe DeVito, CEO of SolarStone.

Matrix Renewables’ current portfolio is comprised of 2.3 GW of operational, under construction, or near ready-to-build solar PV, wind and storage projects, with a further 7.3 GW pipeline.

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