An aerial image shows vehicles driving on the California 14 Highway as solar panels, part of an electricity generation plant, stand on June 18, 2021 in Kern County near Mojave, California.
Patrick T. Fallon | AFP | Getty Images
Solar power in the U.S. has grown 4,000% percent over the last decade, but it still only accounts for 3% of electricity generation. The Biden Administration wants to change that, and on Tuesday said that solar could provide 40% of the country’s electricity by 2035 — if the government enacts supportive policies.
In order to meet this target, the Department of Energy said that solar’s growth rate will need to triple or even quadruple by 2030. That means costs will have to keep dropping.
The total cost of a solar system depends on variables including size, whether it’s purchased outright or leased and power prices in the specific location. Solar’s levelized cost of energy, which allows it to be compared to other forms of power generation, has fallen more than 70% over the last decade. But costs will need to continue to decline to meet these growth goals.
The Department of Energy’s goal is for the levelized cost of energy for a solar residential system to reach 5 cents per kilowatt hour by 2030, down from 50 cents in 2010. Commercial costs need to fall from 39 cents in 2010 to 4 cents by 2030, while utility-scale solar needs to decrease from 27 cents last decade to 2 cents by 2030.
U.S. solar installations hit a record high in 2020 as falling costs and supportive policies boosted demand, and the industry is expected to post another banner year in 2021.
Still, overall penetration remains low. The Department of Energy pointed to a number of actions that could accelerate solar buildout, including clean energy tax credits. The Investment and production tax credits, which were extended on a short-term basis in December, have been instrumental to solar’s adoption.
Tax incentives for transmission and storage could also lead to faster solar deployment. Transmission lines can carry power generated by wind and solar sites, which can be far away from end users, to the cities where it’s needed. The memo noted that direct pay tax incentives could mobilize billions of dollars in private capital.
The Department of Energy also pointed to prioritizing innovation and advanced manufacturing, as well as investing in low-income and community solar.
“Low- and moderate- income Americans are less likely to adopt solar due to issues like lack of access to financing, which perpetuates energy inequalities and leads to lower overall levels of solar deployment,” the memo said.
Fighting climate change is a priority for the Biden administration. On his first day in office the president re-entered the U.S. into the Paris Climate Accord, and he has pledged to slash greenhouse gas emissions in half by 2030. He’s also called for a carbon-free power sector by 2035, for which solar growth will be instrumental.
The infrastructure package passed by the Senate last week includes billions of dollars for clean energy projects, although the amounts are significantly pared down from the original American Jobs Plan unveiled in March. The administration has repeatedly said that a shift away from fossil fuels to clean energy will fuel job growth, and the memo claims the industry could employ as many as 1.5 million people by 2035.
Who said electric flying cars are only for the movies? Alef Aeronautics made history after posting a video of its electric car driving and vertically taking off in public. The video shows the electric flying car jumping over another vehicle as it takes flight. Watch “the world’s first real flying car” take flight below.
Electric flying car takes flight in California
Is this the next Wright Brothers’ Kitty Hawk moment? Alef’s CEO, Jim Dukhovny, said the company is “proving to humanity that new transportation is possible.”
The company has been developing flying cars for about a decade. After showing a prototype to Tim Draper in 2017, an early investor in Tesla and SpaceX, his venture capital firm Draper Associates, backed Alef with $3 million in seed funding.
Alef shook the internet after unveiling a prototype of its flying car, dubbed the Model A, in 2022. The company claimed the 100% electric flying car can drive up to 220 miles with a 110-mile flight range.
Less than a year later, the Model A became the first vehicle of its kind to obtain a Special Airworthiness Certification from the US Federal Aviation Administration. Alef even became the first company with pre-orders to sell an aircraft through a car dealership.
CEO Jim Dukhovny introduces the Model A electric flying car at the Detroit Auto Show (Source: Alef)
The company made history again this week after releasing a video of an “ultralight version” of its flying car taking flight in California.
Alef said it’s the “first-ever video in history of a car driving and vertically taking off.” Although previous videos have shown tethered flights, cars using a runway to take off, and eVTOL flying taxis taking off, this is the first public video of a car actually driving and taking off vertically on a city street. The road was blocked off for safety.
Alef’s electric flying car takes flight and hops another vehicle on a public street in California
The video almost seems fake, like something out of a Sci-Fi movie, but this really took place. You can see the flying car take flight and jump over another vehicle.
In a separate video, Alef showcased the flying car driving off-road to prove it can still drive like a typical vehicle.
Alef’s electric flying car driving off-road
Alef claims its flying cart is “100% electric, drivable on public roads, and has vertical takeoff and landing capabilities.” The company has mass manufacturing agreements with PUCARA Aero and MYC, which supply industry giants like Boeing and Airbus for aviation-grade parts.
To date, the electric flying car has secured 3,300 pre-orders. Prices are expected to start at around $300,000. You can pre-order yours on Alef’s website for a $150 deposit. For $1,500, you can reserve a spot in the priority queue.
The company plans to begin Model A production later this year, with the first deliveries scheduled to follow. Alef is already working on its second flying car, “Model Z,” which is expected to start at around $35,000. It’s set to launch in 2035.
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SolarEdge shares surged more than 28% on Wednesday despite posting a steep fourth-quarter loss of $287 million.
Results were sharply down year over year, but “exceeded the Street’s very low expectations as well as our numbers,” Guggenheim Securities analyst Joseph Osha told clients in a Wednesday note.
“The company also managed to generate positive free cash flow as SEDG continued to draw down inventory and trade receivables,” Osha wrote.
Excluding impairment charges and write-offs, SolarEdge posted an adjusted loss of $3.52 per share compared with the predicted loss of $1.65 per share, from Wall Street analysts surveyed by LSEG.
However, revenue of $196.2 million beat expectations of $189.1 million, even though it was down 17% from the year-ago quarter.
SolarEdge and stocks exposed to the residential solar sector have struggled in the face of high interest rates and a glut of product they have had trouble offloading. Investors are also worried that President Donald Trump’s focus on oil and gas and his threats to repeal the Inflation Reduction Act will hurt the solar and broader renewable sectors. Over the past 12 months, the stock is down more than 75%.
Toyota is already developing the next-gen RAV4, and rumors suggest an electric model is in the works. According to internal documents, significant changes are expected. Here’s what we know about the upcoming Toyota RAV4 and a possible EV variant.
When will Toyota launch the electric RAV4 EV?
The RAV4 was Toyota’s top-selling vehicle in the US last year, moving over 475,000 units. Even more impressive, the compact SUV ended the Ford F-150’s nearly four-decade reign (except for 2009) as America’s top-selling vehicle.
Data from Jato Dynamics (via Forbes) shows Ford F-150 sales slipped 5% to 460,915 in 2024, while RAV4 sales climbed another 9% to over 475,000.
The RAV4’s growing popularity is mainly driven by the rising demand for hybrid and electric vehicles. With the current generation released back in 2018, Toyota is expected to reveal the updated RAV4 this summer.
According to local reports, internal documents reveal the next-gen RAV4 will ride on an improved TNGA-K platform. The updated SUV is expected to be slightly bigger than the current model, with an extended wheelbase to open up more interior space.
2025 Toyota RAV4 PHEV (Source: Toyota)
The design is expected to mirror the new Prius and Camry models with a sportier, more modern look. The front end is due for a new grille, and wraparound LED daytime running lights.
Inside, the new RAV4 will likely gain a new infotainment system with AppleCarPlay and Android Auto support. Other premium features could include a head-up display, panoramic sunroof, and a wireless charger.
2025 Toyota bZ4X Limited AWD interior (Source: Toyota)
Toyota is expected to launch the next-gen RAV4 with several powertrain options, including ICE, hybrid (HEV), plug-in hybrid (PHEV), and a possible electric (EV) variant.
Although no details have been confirmed, Toyota is said to be considering an electric RAV4 that will ride on a modified TNGA-K platform. The fifth-gen RAV4 is built on the Toyota New Global Architecture (TNGA-K) platform.
Electrek’s Take
The RAV4 is already about the size of Toyota’s electric bZ4X SUV. At 184.6″ long, the bZ4X is slightly longer than the RAV4 (180.9″ long), but if the rumors are true that the next-gen model will be bigger, it won’t make sense for both to be on the market.
With the bZ4X reportedly due for a rebrand, it could be sold as the “electric RAV4” or “RAV4 EV” as Toyota drops the bZ naming system.
Would you buy an electric Toyota RAV4? If so, what features and other specs would you be looking for? Let us know in the comments.