The Snap Together Energy Plant

If solar power has an image problem, it is that there is an aura of fluffy-headed idealism about it, a wouldn't-it-be-cool do-good factor that bull sessions in college are built around but not grown-up things like energy policy.

So it is a puzzlement whether the recent announcement by eSolar portends an interesting development or the kind of thing that wows the kids at liberal arts schools. (The name eSolar doesn't help a bit - sounds like software to help you get a great tan through your computer.)

Here's the announcement:

Google, Idealab and Oak Investment Partners, among others, are backing Pasadena's eSolar with investments worth $130 million.

eSolar plans to use computing and mass manufacturing technology to build thermal solar plants more cheaply and efficiently.

"The eSolar power plant is based on mass manufactured components, and designed for rapid construction, uniform modularity, and unlimited scalability," Asif Ansari, CEO of eSolar, said in a press release.

And here is Board Chairman Bill Gross:

Bill Gross, the Internet entrepreneur who founded Idealab and is chairman of eSolar, said in the release that eSolar's goals mesh perfectly with those goals.

"eSolar's primary business goal is nothing short of making solar electricity for less than the price of coal, without subsidies," he said. "This is not only attainable, but will truly change the world."

That world-changing bit is a real clanger, but points for ambition.

Here is ePower's description of how easy it is to install their panels:

eSolar has designed a solar field layout that minimizes installation time and cost. By employing a repeating frame structure and a revolutionary calibration system, eSolar has eliminated the need for high-precision surveying, delicate installation, and individual alignment of mirrors. Minimal skilled labor is needed to build the solar field, allowing for mirror deployment efficiencies that scale with project size and deadlines. From permitting to construction, plants come on line quickly, and that means more power to satisfy renewable portfolio goals.

What eSolar seems to lack right now is a customer, so presumably, they're still ramping up the technology. We wish them well - we really do, as the idea of easily expandable energy plants certainly seems consistent with what one ought to be able to do with solar panels - but nothing about all this dispels the aroma of dreamy people doing dreamy things. And that's a problem when you want to be taken seriously.

But by all means, explore their site and see what you think.

Fluor Invests in NuScale

You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...

NEI Nuclear Notes

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