Bright Stocks News Review: SolarCity Corp (NASDAQ:SCTY) | Sunedison Inc (OTCMKTS:SUNEQ) – Money News (press release)

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Bright Stocks News Review: SolarCity Corp (NASDAQ:SCTY) | Sunedison Inc (OTCMKTS:SUNEQ)

Following Energy stocks are among the “Most Active” Stocks in the course of last trading session, Friday:  SolarCity Corp (NASDAQ:SCTY), Sunedison Inc (OTCMKTS:SUNEQ)

Shares of SolarCity Corp (NASDAQ:SCTY) gained 7.71% to $21.94 on Friday. The share price is trading in a range of 20.33 – 22.00 (Price in Dollars). The stock exchanged hands with 5,855,473 shares contrast to its average daily volume of 5,815,100 shares. During the most recent trading day, the stock’s price shifted up +34.52 percent from its 52-week-low while -65.24 percent lower from its 52-week high. According to GreenBiz,  Kauai, like the entire state of Hawaii, is committed to transitioning to 100 percent renewable power electricity by 2045. The Kaua‘i Island Utility Cooperative (KIUC) is already 38 percent renewable and expects to reach 50 percent by decade’s end, said Jim Kelly, communications director of the island’s only utility. But that second half, getting from 50 to 100 percent, seems “pretty daunting” to all.

“Everybody is up for the challenge, but nobody thinks it will be an easy reach or cheap to make it to 100 percent,” Kelly said in a conversation with GreenBiz.

After 5 p.m. is when the hotels and restaurants and homes of the island power up their air conditioning, lights, computers and appliances. Typically that is when KIUC turns to burning petroleum for electricity.

“People on Kaua’i, especially, are very conscious of climate change and they really want to be independent of oil, so we don’t have those barges coming in. We all want to be energy independent,” Kelly told GreenBiz.

SolarCity is building a utility-scale solar plus storage plus integrated demand response management system for KIUC. The integrated, software-managed system brings together solar power from distributed rooftops, the two 12 megawatt solar farms plus a new 13-megawatt solar farm SolarCity is building and allows that energy to be stored in a 52-megawatt hour battery and then dispatched when needed.

The system, Kelly said, will provide power on demand to meet evening peak on the island’s grid. The new farm will power the battery each day and allow it send 10 to 13 megawatts to the grid each evening to meet electricity demand in the heavy-use 5 p.m. to 10 p.m. hours.  GreenBiz Report

Shares of Sunedison Inc (OTCMKTS:SUNEQ), inclined 21.21% to $0.160. The 52-week range of the share price is from 0.12 – 33.45 (Price in Dollars). The beta value for this stock stands at 2.96 points. The company has total market capitalization of $50.71M. The share price of Sunedison Inc declined -99.48 percent for the year. YTD, the current share price of the stock is below -96.84 percent. On May 20, according to Reuters, SunEdison Inc has tentatively agreed to withdraw a request for an independent examiner for the renewable energy company’s bankruptcy, its attorneys said in court on Friday, enabling its creditors to pursue their own investigation.

When it filed for bankruptcy in April, SunEdison had asked the judge to appoint an examiner to probe recent transactions, citing a U.S. Department of Justice subpoena related to financing activity and an investigation by the U.S. Securities and Exchange Commission.

Dropping the request, which was a bargaining chip in negotiations on SunEdison’s $300 million bankruptcy loan, assists to resolve disputes over the loan and allow its Chapter 11 to move forward. Creditors and associated companies had filed objections to the loan. Reuters Report

Another latest Solar news update, TeleSUR English update, Some 2 million Mexicans living in rural areas are are set to benefit from solar energy as companies work to install solar panels in the southern states of Chiapas and Oaxaca, home to large Indigenous populations, the Mexico’s official news agency Notimex reported Sunday.

The energy company Enlight has launched a program, in partnership with the social enterprise Ilumexico, that promotes the development of solar energy systems in rural communities through the expansion of solar power in cities. TeleSUR English Report