Nextracker ships the first 100% US-made solar trackers under the IRA

Published

5 months ago

December 10, 2024

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Nextracker just set a milestone in US clean energy manufacturing: It has delivered the first-ever solar trackers expected to meet 100% domestic content requirements under the Inflation Reduction Act (IRA).

These US-made trackers are now on their way to power SB Energy’s Pelican’s Jaw solar project in Kern County, California. (Solar trackers, typically used in commercial, ground-mounted arrays, help maximize solar production by following the sun throughout the day.)

Pelican’s Jaw, a 570 MW solar farm paired with 954 MWh of energy storage, is being built by SOLV Energy and highlights a turning point for renewable energy manufacturing in the US. By achieving 100% domestic content value, Nextracker is proving that large-scale clean energy projects can source critical components entirely within the US.

Domestic supply chain

Fremont, California-headquartered Nextracker’s move to ramp up US manufacturing started in 2021 as the company sought to overcome global supply chain disruptions caused by the pandemic. With its manufacturing partners, it’s expanded or launched over 25 factories across the US, creating an annual production capacity of over 30 GW.

Nextracker’s localized approach ensures compliance with IRA incentives and also reduces lead times, improves shipping logistics, and cuts emissions.

Under the IRA, clean energy projects are awarded a 30% Investment Tax Credit. Another 10% can be applied to projects that meet domestic content requirements, and a further 10% can be added to projects installed in eligible Energy Communities.

Nextracker’s founder and CEO, Dan Shugar, said, “By focusing our manufacturing partnerships close to customer project sites, we secure the supply chain and provide on-time delivery and cost savings for project development. We’re also significantly decarbonizing our products with US-made clean steel.”

US jobs and renewable energy

The Pelican’s Jaw project is just the beginning for these made-in-the-US solar trackers. SB Energy co-CEO Abhijeet Sathe called Nextracker’s achievement a big win for the US manufacturing sector and renewable energy projects alike. “Our Pelican’s Jaw project will be the first to utilize Nextracker’s 100% US domestic content solar trackers. We applaud Nextracker for creating high-paying manufacturing jobs and strengthening supply security.”

Solar power has become the leading source of new power generation, creating well-paid jobs both in the US and globally, according to the International Energy Agency. The American Clean Power Association reports that the US solar industry supported 279,000 jobs in 2023, with growth concentrated in states like California, Texas, Pennsylvania, and Tennessee.

Electrek’s Take

Two of the IRA’s main aims are to stimulate renewable energy growth and domestic manufacturing, and Nextracker is one of many US companies that exemplify both of those aims. The IRA’s importance and impact can’t be understated.

It’s been such a pleasure to report on all the milestones that have been achieved as a result of the passage of the IRA over the last few years. It’s been nothing short of mind-blowing, and the Biden administration doesn’t get the credit it deserves for the IRA.

Donald Trump has called the IRA the “greatest scam in history,” and any IRA rules that the Treasury Department doesn’t finalize before January 20 will be fair game to be canceled or changed by the new administration. I find this prospect infuriating and hope the red state legislators, where 80% of the IRA benefits are being reaped, exercise their common sense and do what’s right for their constituents.

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Environment

Isuzu’s first electric pickup is here and it’s a beast: Meet the new D-MAX EV

Published

52 mins ago

April 29, 2025

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Isuzu's first electric pickup is here and it's a beast: Meet the new D-MAX EV

A fully electric Isuzu pickup truck? That’s right. The D-MAX EV is Isuzu’s first electric pickup, and it will be rolling in the next few months. After kicking off mass production, Isuzu said the new EV pickup will “match the performance of existing diesel models,” boasting high towing capacity and payload.

Isuzu’s first electric pickup is launching in 2025

Isuzu announced on Tuesday that the D-MAX EV has officially entered mass production. The company has started building left-hand drive models, which will be shipped to Europe in the third quarter of 2025.

By the end of the year, production of right-hand drive models will begin for the UK, with sales expected to start in 2026.

The electric pickup is nearly identical to Isuzu’s popular gas-powered D-MAX, but swaps the diesel powertrain for a pair of electric motors. The D-MAX EV features new e-Axles, one on the front and the other at the rear, for a full-time 4WD system.

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The dual-motor powertrain enables it to match the performance of existing diesel models, with a combined 188 hp (140 kW) and a maximum torque of 240 lb-ft (325 Nm).

It can also tow over 7,700 lbs (3,500 kg) with a maximum payload of over 2,200 lbs (1,010 kg). That’s about the same as the D-MAX diesel, which has a 3,500 kg towing capacity and a payload capacity of up to 1,200 kg.

Powered by a 66.9 kWh battery, Isuzu’s first electric pickup boasts a driving range of up to 263 km (162 miles) on the WLTP. In the city, it can have a driving range of up to 224 miles (361 km).

Isuzu D-Max EV specs
Drive System	Full-time 4×4
Battery Type	Lithium-ion
Battery Capacity	66.9 kWh
Max Output	130 kW (174 hp)
Max Torque	325 Nm
Max Speed	Over 130 km/h (+80 mph)
Max Payload	1,000 kg (+2,200 lbs)
Max Towing Capacity	3.5t (+7,700 lbs)

Isuzu D-Max EV electric pickup specs

Built for on and off-road performance, the rugged electric pickup features over 8″ (210 mm) of ground clearance with a wading depth of nearly 24″ (600 mm).

Although prices have not been announced, the D-MAX EV is expected to start slightly higher than the diesel model, which has a base price of around € 36,500 ($41,600).

Isuzu’s popular D-MAX is sold in over 100 countries, including Europe, Asia, the Middle East, and Central and South America. The electric version will arrive in Europe in the next few months, followed by the UK and other regions in 2026.

The electric D-MAX will compete with the Toyota Hilux, Ford Ranger, and other electric pickups, such as Geely’s Radar R6, BYD’s Shark, and Ford’s F-150 Lightning.

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Environment

Tesla insider buys stock for the first time in years and it’s hilarious

Published

1 hour ago

April 29, 2025

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Tesla insider buys stock for the first time in years and it's hilarious

For the first time in five years, a Tesla insider required to report Tesla stock transactions bought stocks rather than selling them.

But the transaction is so small that it makes the whole situation hilarious.

Insiders in public companies are top executives and board members who are required to report to the SEC any transaction related to the company’s stock.

For Tesla, it has become a running joke that insiders only sell, never buy the stock.

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This has been true without exception for years.

We don’t know as much about executives as Tesla has a very short top executive bench who are required to file transactions. However, when it comes to its board members, they have been selling at an impressive rate.

We recently reported on Kimball Musk, Elon’s brother, and Tesla’s Chief Financial Officer Taneja Vaibhav recently selling ahead of a recent drop in the company’s stock price.

Tesla’s chairwoman, Robyn Denholm, also sold $33 million worth of Tesla shares in February and over $100 million in the 3 months prior.

However, we now have confirmation that a Tesla board member is buying, rather than selling.

Joe Gebbia, the Airbnb co-founder who joined Tesla’s board in 2022, confirmed that he bought 4,000 shares in Tesla last week worth about $1 million:

Electrek’s Take

Gebbia is estimated to be worth over $7 billion. Therefore, his purchase of $1 million worth of Tesla stock would be equivalent to my buying a fractional share in Tesla.

Furthermore, the disclosure confirmed that despite being on the board for the last 3 years, Gebbia owned only 111 shares in Tesla before the transaction.

That’s quite the show of confidence in Tesla.

Thie whole situation with the board is disappointing. Tesla’s core business is melting. The company reported its worst quarter in years last week, and the stock surged 20%.

None of it makes any sense.

The board is sitting on its hands while the most powerful force accelerating the advent of electric transport is being destroyed in favor of nonsensical predictions about the potential of solving self-driving and humanoid robots.

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Environment

Venmo revenue grows 20%, with debit card payment volume soaring

Published

4 hours ago

April 29, 2025

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Venmo revenue grows 20%, with debit card payment volume soaring

Justin Sullivan | Getty Images

Venmo, long a centerpiece of PayPal‘s growth story but often criticized for its lack of monetization, is becoming a bigger contributor to the business.

PayPal said Tuesday in its first-quarter earnings release that revenue at Venmo increased 20% year-over-year in the first quarter, though the company didn’t provide a dollar figure. PayPal acquired Venmo in 2013 through the acquisition of parent company Braintree.

While it’s long been a popular consumer service for sending money to friends, Venmo’s ability to drive meaningful revenue has been a major question mark for investors, especially as competition from rivals like Zelle and Square Cash has intensified.

Venmo’s total payment volume rose 10% from a year earlier, but revenue grew twice as fast, reflecting the business opportunity. Venmo only gets revenue from specific products like Pay with Venmo at online checkout, Venmo debit cards, and instant transfers, but not from peer-to-peer payments.