Los Angeles Times: Elon Musk Reinvests in Tesla
Tesla Motors CEO Elon Musk has converted 532,000 stock options into stock, the company said late Friday.
A company spokesperson said Musk had exercised the stock options, said to have been valued at about $7 a share, into shares that currently trade at $192.
“This week Elon increased his investment in Tesla,” the company said. “He exercised and held 532,000 stock options, which is approximately $100 million in current value.”
Midwest Energy News: Utilities Caught Off Guard With Net Metering Legislation
Three months after Iowa’s utility regulator stated publicly that it believes the state’s net metering law is working fine, a state legislator introduced a bill that would reduce the rates paid to solar customers.
On Tuesday, Rep. Dave Heaton introduced HF 2100, which would remove the requirement that the state’s major utilities essentially pay retail prices to customers for excess solar generation, and would substitute a much lower wholesale price.
“Without net metering in place, the solar industry would be decimated in Iowa, just as it’s starting to grow,” said Amy Heart, speaking for the advocacy group The Alliance for Solar Choice. “Net metering is the essential policy for rooftop solar. It’s the backbone of being able to build a strong solar market.”
Reuters: More Details on Japan’s Bailout of Sharp
A Japanese state-backed fund planning to rescue unprofitable Sharp Corp. is aiming to later merge the solar power business of the electronics maker with a unit of Showa Shell Sekiyu KK, the Nikkei daily reported on Sunday.
Innovation Network Corp of Japan is planning to inject more than 300 billion yen ($2.5 billion) into Sharp and secure up to 350 billion yen of financial assistance from the company’s two main lenders, sources previously told Reuters.
The Straits Times: Australia Taking Solar Power to the Next Level
They are often seen on the rooftops of suburban homes in Australia — large glistening tiles that reflect an unusual feature of life in the sun-drenched nation.
Mostly put up in the past 10 years, these solar panels have made Australia the country with the world’s largest household uptake of solar panels.
Almost 16 percent of homes — or 1.49 million — now use solar power, compared with 7 percent in Belgium and 4 percent in Germany. The rate varies across Australia, with Queensland chalking up the highest, of almost 30 percent.
Mississippi Business Journal: PSC Rejects Reconsidering Net Metering Rule
The Mississippi Public Service Commission had a month to enjoy the fruits of its five years of labor in producing a net-metering rule, which allows customers to produce power by rooftop solar panels and sell it to utilities. Mississippi became the 45th state to pass such a rule.
Then the returns came in. Four filers asked the commission to reconsider its decision issued on Dec. 3. But the commission rejected the requests, leaving petitioners [the option of] a challenge in court if they so choose.
This article was originally featured on greentechmedia.com.