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Bloom Energy (BE) Inks Clean Energy Deal Under CDG Program
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Under the Community Distributed Generation (CDG) program, Bloom Energy (BE - Free Report) has signed an agreement for deployment of a portfolio of solid oxide fuel cells with generation capacity of more than 40-megawatts (MW) in the Northeast of New York. Through a chain of deals, the CDG program encourages investment and deployment of clean energy technologies, with the first project worth 7.5 MW already being deployed on the Staten Island.
Some of its development partners and investors in these projects include Captona, Daroga Power, NineDot Energy and South Jersey Industries. Notably, Daroga Power’s expertise in distributed energy generation and structured finance along with Bloom Energy’s cleaner and more resilient energy is a game changer for the New York communities.
CDG Program’s Benefits
Under the terms of the program, the developers will receive incentives to install clean power generation within the grid distribution network. This will reduce harmful greenhouse gas emissions and air pollutants, trim costs andenhance energy reliability along with providing cleaner and more affordable power to consumers. Remarkably, Bloom Energy’s servers are expected to slash carbon emissions by 50,000 metric tons, annually, through CDG program from the current grid alternative.
Also, customers under this program will receive utility bill credits for using the power being generated. Apart from the customers, utilities will benefit from increased grid resilienceand lower transmission and distribution infrastructure outlays.
Clean Energy Efforts
Companies across the globe are making noticeable efforts in the transition towards a greener society and become sustainable in the longterm. According to International Energy Agency’s (IEA) latest estimates, global renewable capacity is expected to grow by around 218 GW in 2021, almost 10% more than 2020.
In particular, nations, such as the United States, India and China are expected to see capacity growth in 2021.
Evidently, along with Bloom Energy, other companies from the same industry including FuelCell Energy (FCEL - Free Report) , Ameresco (AMRC - Free Report) and Vestas Wind Systems (VWDRY - Free Report) are undertaking measures to deliver clean energy and provide reliable services to its customers.
In the past six months, shares of the company have rallied 46.1% compared with the industry’s 30.2% rise.
5G Revolution: 3 Stocks to Make Your Move
With super high data speed, it will make current cell phones obsolete and unlock the full potential of big data, cloud computing, and artificial intelligence. In the next few years this industry is predicted to create 22 million jobs and a stunning $12.3 trillion in revenue.
Today you have an historic chance to pursue almost unimaginable gains like Microsoft, Netflix, and Apple in their early phases. Zacks has released a Special Report that reveals our . . .
Image: Shutterstock
Bloom Energy (BE) Inks Clean Energy Deal Under CDG Program
Under the Community Distributed Generation (CDG) program, Bloom Energy (BE - Free Report) has signed an agreement for deployment of a portfolio of solid oxide fuel cells with generation capacity of more than 40-megawatts (MW) in the Northeast of New York. Through a chain of deals, the CDG program encourages investment and deployment of clean energy technologies, with the first project worth 7.5 MW already being deployed on the Staten Island.
Some of its development partners and investors in these projects include Captona, Daroga Power, NineDot Energy and South Jersey Industries. Notably, Daroga Power’s expertise in distributed energy generation and structured finance along with Bloom Energy’s cleaner and more resilient energy is a game changer for the New York communities.
CDG Program’s Benefits
Under the terms of the program, the developers will receive incentives to install clean power generation within the grid distribution network. This will reduce harmful greenhouse gas emissions and air pollutants, trim costs andenhance energy reliability along with providing cleaner and more affordable power to consumers. Remarkably, Bloom Energy’s servers are expected to slash carbon emissions by 50,000 metric tons, annually, through CDG program from the current grid alternative.
Also, customers under this program will receive utility bill credits for using the power being generated. Apart from the customers, utilities will benefit from increased grid resilienceand lower transmission and distribution infrastructure outlays.
Clean Energy Efforts
Companies across the globe are making noticeable efforts in the transition towards a greener society and become sustainable in the longterm. According to International Energy Agency’s (IEA) latest estimates, global renewable capacity is expected to grow by around 218 GW in 2021, almost 10% more than 2020.
In particular, nations, such as the United States, India and China are expected to see capacity growth in 2021.
Evidently, along with Bloom Energy, other companies from the same industry including FuelCell Energy (FCEL - Free Report) , Ameresco (AMRC - Free Report) and Vestas Wind Systems (VWDRY - Free Report) are undertaking measures to deliver clean energy and provide reliable services to its customers.
Zacks Rank & Price Performance
Bloom Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past six months, shares of the company have rallied 46.1% compared with the industry’s 30.2% rise.
5G Revolution: 3 Stocks to Make Your Move
With super high data speed, it will make current cell phones obsolete and unlock the full potential of big data, cloud computing, and artificial intelligence. In the next few years this industry is predicted to create 22 million jobs and a stunning $12.3 trillion in revenue.
Today you have an historic chance to pursue almost unimaginable gains like Microsoft, Netflix, and Apple in their early phases. Zacks has released a Special Report that reveals our . . .
Download now. Today the report is FREE >>