(Bloomberg) – California will sharply reduce the incentive that encouraged more than a million homeowners and businesses to install rooftop solar panels and cemented the Golden State as a green energy pioneer.Most Read from BloombergTrump Hawks Superhero NFT Trading Cards as Crypto Universe ImplodesIs Putin Finally Getting Smart About His Ukraine Disaster?Elon Musk’s Tesla Share Sales Approach the $40 Billion MarkUS Stocks Drop for a Second Day; Oil Snaps Rally: Markets Are Ready But Oil Prices are Falling By: Bloomberg
By Peter K. Anderson
(Bloomberg) – The New York City-based power company that owns the world’s largest power plant is being taken over by a consortium of solar suppliers.
They say they are developing a new, more flexible technology for building up solar cells. They’ve also said they plan to invest more than a million million dollars.
Bloomberg says the solar industry’s chief goal is to grow the power sector, but more than a billion dollars of its energy portfolio is owed to banks and investors.