Protect Americans’ credit scores amid the coronavirus pandemic

Yahoo Money

Democrat senators to credit bureaus: Protect Americans’ credit scores amid the coronavirus pandemic

By Janna Heron and Aarthi Swaminathan                   

FICO changes could impact your credit score

Two Democratic senators are urging the national credit reporting agencies to help safeguard the creditworthiness of Americans hurt by the coronavirus pandemic, according to a letter obtained by Yahoo Finance.

Senators Elizabeth Warren (D-MA) and Brian Schatz (D-HI) sent a letter to Equifax, Experian, and TransUnion, inquiring about the actions they are taking to make sure Americans’ credit isn’t damaged permanently if they have trouble paying their bills on time during the crisis.

“If American families and consumers are piled under a mountain of debt during this pandemic and once it ends, the country will struggle to emerge from a deep recession,” Warren and Schatz wrote. “This means that when the crisis is over, months of late or missed payments could add up to not just a mountain of debt, but a cratering credit score that takes away the shovel they might use to dig themselves out.”

Read more: Free credit reports amid coronavirus: Here’s why that’s important

Sen. Elizabeth Warren, D-Mass., Sen. Chuck Schumer, D-N.Y., and Sen. Brian Schatz, D-Hawaii, participate in the press conference in the Capitol to call for the elimination of student loan debt at public higher education institutions on Wednesday, June 10, 2015. (Photo: Bill Clark/CQ Roll Call)

 

The bureaus maintain the credit reports of consumers that help calculate a credit score, which lenders use to approve new credit and at what terms. The reports are a history of all your credit obligations, including how many accounts you have, how much you owe, and how often you make on-time payments.

While Equifax, Experian, and TransUnion didn’t immediately respond to requests for comment from Yahoo Money, the trade group representing the companies did.

“The companies just received the letter from the Senators and are reviewing it now. We share the Senators’ concerns about how the crisis will impact consumers and we have taken actions to help, including providing increased free access to credit reports, as they announced last week,” said Francis Creighton, president and CEO of the Consumer Data Industry Association. “We have also increased our training of banks and other creditors to help them understand their obligations under the law and to make sure they have tools to help consumers.”

2020.04.27 Letter to Experi… by Aarthi on Scribd

 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes a number of protections for homeowners, renters, and student loan borrowers, the senators pointed out, but “won’t help countless American families and consumers who have other debts that received no protections, including auto loans, credit card debt, payday loans, and other forms of debt.”

The act does amend the Fair Credit Reporting Act (FCRA) to halt harmful credit reporting during the COVID-19 crisis under specific circumstances. If your creditor offers an accommodation on your payments because of the coronavirus, the creditor must report your account as current to the credit bureaus as long you weren’t already behind on payments.

But you have to reach out to your creditor first and agree on the terms of hardship accommodation to avoid negative reporting. You can’t just stop paying your bills with no repercussions, and you must maintain your end of the deal.

(Photo: Getty Images)
(Photo: Getty Images)

 

The three credit bureaus said last week they are offering free weekly credit reports for all Americans for the next year to help them monitor the accuracy of their credit histories. The bureaus said they sent additional guidance to creditors on reporting during a national emergency.

Equifax also announced earlier this month that it would no longer hurt your credit score if a mobile, wireless, cable, and internet company requested your credit report to open a new account. Before these were considered hard inquiries and could ding your score. When contacted earlier by Yahoo Money, Experian said it had changed its policy in a similar manner, while TransUnion declined to comment.

Sen. Warren and Schatz have requested responses to their letter no later than May 1.

“Our economic revival depends on millions of Americans’ ability to resume their lives after the pandemic abates and the economy reopens,” the letter concluded. “Permanently marred credit scores pose a risk to individuals and to our collective recovery.”

Janna is an editor at Yahoo Money and Cashay.

Huge amounts of methane leaking from U.S. oil fields, study shows

CBS News – Business

Huge amounts of methane leaking from U.S. oil fields, study shows

Jeff Berardelli, CBS News                        

Oil and gas operations in the Permian Basin, the largest oil-producing area in the United States, are spewing more than twice the amount of methane emissions into the atmosphere than previously thought — enough wasted energy to power 7 million households in Texas for a year. That’s the result of a new study by researchers at Harvard University and the Environmental Defense Fund.

The Permian Basin stretches across a 250-mile by 250-mile area of West Texas and southeastern New Mexico, and accounts for over a third of the crude oil 10% of the natural gas in the U.S.

The study, published this week in the journal Science Advances, also found that the rate of leakage of methane gas makes up 3.7% of all the gas extracted in the basin, which is about 60% higher than the national average leakage rate. Methane is a potent greenhouse gas, and since the Permian Basin is so large, this excess waste is a significant contribution to our already warming climate.

“These are the highest emissions ever measured from a major U.S. oil and gas basin,” said study co-author Dr. Steven Hamburg, chief scientist at the Environmental Defense Fund (EDF).

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Environmental Defense Fund

To map the methane emissions, the team employed a space-borne sensor on a European Space Agency satellite called the Tropospheric Monitoring Instrument (TROPOMI) from May 2018 to March 2019.

Since 2005, the rapid increase in oil and natural gas production in the United States has been driven primarily by hydraulic fracturing (also known as fracking) and horizontal drilling.

methane-plume-detected-from-space-by-nasa.jpg
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Methane plume in California detected by a NASA satellite. NASA

While some see the leaked methane gas as a big waste of natural resources, others are focused on the danger posed by methane. Methane is an extremely powerful heat-trapping greenhouse gas, much more potent than its more well-known counterpart, carbon dioxide (CO2).

There is 225 times less methane in the atmosphere than there is CO2, but because of its powerful heat-trapping qualities, methane is contributing about 25% of the current rate of global warming.

Since the Industrial Revolution, global methane concentrations have doubled due mostly to human activities like livestock farming, decay from landfills, and from burning fossil fuels.

“I am very concerned about increasing methane emissions,” said Dr. Robert Howarth, a biogeochemist and expert on methane from Cornell University, who was not involved with the study. “Methane is 120 times more powerful than CO2 as a greenhouse gas, compared mass-to-mass for the time both gases are in the atmosphere,” he explains.

According to Hamburg, the methane gas escaping the Permian Basin is so excessive that it has tripled the typical heating impact it would have otherwise had through burning the gas. Evidence of this massive leakage undercuts the case made by proponents of natural gas who tout its cleaner-burning qualities over that of its normally dirtier-burning cousin, coal.

“The most up-to-date thinking is that for comparing coal and natural gas to generate electricity, gas is worse than coal if the methane emission rate is greater than 2.7%,” said Howarth. However, this research found the Permian Basin’s emission rate is higher than that — 3.7% of the gross gas extracted. Therefore, the leakage in the Permian Basin is so high it makes gas and oil emissions more intensive than even coal.

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The Permian Basin, stretching across West Texas and southeast New Mexico, provides more than a third of U.S. crude oil. Environmental Defense Fund

“After staying level for the first decade of the 21st century, methane emissions have been rising quickly over the past decade,” said Howarth, “My research indicates that shale gas development in the U.S. is responsible for at least one-third of the total increase in these emissions globally.”

The Harvard/EDF paper attributes the high methane leakage rate to extensive venting and flaring, resulting from insufficient infrastructure to process and transport natural gas.

On the other hand, the paper concludes, the higher-than-average leakage rate in the Permian Basin implies an opportunity to reduce methane emissions through better design, more effective management, regulation and infrastructure development.

But over the past few years, regulations on fossil fuels have gone in the opposite direction. “Trump’s EPA has proposed to substantially weaken or even eliminate regulations, adopted during the Obama administration, to control methane emissions from oil and gas facilities,” said Romany Webb, a senior fellow at the Sabin Center for Climate Change Law at Columbia Law School.

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Environmental Defense Fund

Webb says the Texas Railroad Commission — the state’s oil and gas regulator — has its own rules controlling venting and flaring. Venting and flaring is permitted up to 10 days after completion of well drilling; after that operators can apply for an exemption from the commission. “Recently, the number of exemptions granted by the commission has increased dramatically, leading to concerns that it is simply acting as a rubber stamp,” said Webb.

“To detect emissions takes sophisticated approaches and highly trained personnel,” Howarth said. “To date, the best any government has done is to come up with regulations that rely on industry self-reporting. I find that rather useless.”

If the world has any hope of meeting the target for reducing emissions outlined in the Paris climate agreement, reducing CO2 cannot accomplish this alone — the climate responds far more quickly to methane, explains Howarth. To keep the level of warming below the international goal of 2 degrees Celsius and prevent the most catastrophic impacts of climate change, controlling methane leakage is essential. Without it, humanity is bound to fall short.

This Earth Day, we must stop the fossil fuel money pipeline

The Guardian – World

This Earth Day, we must stop the fossil fuel money pipeline

Bill McKibben, The Guardian         April 20, 2020
<span>Photograph: AP</span>
Photograph: AP

 

1970 was a simpler time. (February was a simpler time too, but for a moment let’s think outside the pandemic bubble.)

Simpler because our environmental troubles could be easily seen. The air above our cities was filthy, and the water in our lakes and streams was gross. There was nothing subtle about it. In New York City, the environmental lawyer Albert Butzel described a permanently yellow horizon: “I not only saw the pollution, I wiped it off my windowsills.” Or consider the testimony of a city medical examiner: “The person who spent his life in the Adirondacks has nice pink lungs. The city dweller’s are black as coal.” You’ve probably heard of Cleveland’s Cuyahoga River catching fire, but here’s how the former New York governor Nelson Rockefeller described the Hudson south of Albany: “One great septic tank that has been rendered nearly useless for water supply, for swimming, or to support the rich fish life that once abounded there.” Everything that people say about the air and water in China and India right now was said of America’s cities then.

It’s no wonder that people mobilized: 20 million Americans took to the streets for the first Earth Day in 1970 – 10% of America’s population at the time, perhaps the single greatest day of political protest in the country’s history. And it worked. Worked politically because Congress quickly passed the Clean Air Act and the Clean Water Act and scientifically because those laws had the desired effect. In essence, they stuck enough filters on smokestacks, car exhausts and factory effluent pipes that, before long, the air and water were unmistakably cleaner. The nascent Environmental Protection Agency commissioned a series of photos that showed just how filthy things were. Even for those of us who were alive then, it’s hard to imagine that we tolerated this.

But we should believe it, because now we face even greater challenges that we’re doing next to nothing about. And one reason is you can’t see them.

The carbon dioxide molecule is invisible; at today’s levels you can’t see it or smell it, and it doesn’t do anything to you. Carbon with one oxygen molecule? That’s what kills you in a closed garage if you leave the car running. But two oxygen molecules? All that does is trap heat in the atmosphere. Melt ice caps. Raise seas. Change weather patterns. But slowly enough that most of the time, we don’t quite see it.

And it’s a more complex moment for another reason. You can filter carbon monoxide easily. It’s a trace gas, a tiny percentage of what comes from a power plant. But carbon dioxide is the exact opposite. It’s most of what comes pouring out when you burn coal or gas or oil. There’s no catalytic converter for CO2, which means you have to take down the fossil fuel industry.

That in turn means you have to take on not just the oil companies but also the banks, asset managers and insurance companies that invest in them (and may even own them, in the wake of the current economic crash). You have to take on, that is, the heart of global capital.

And so we are. Stop the Money Pipeline, a coalition of environmental and climate justice groups running from the small and specialized to the Sierra Club and Greenpeace, formed last fall to try to tackle the biggest money on earth. Banks like Chase – the planet’s largest by market capitalization – which has funneled a quarter – trillion dollars to the fossil fuel industry since the Paris agreement of 2015. Insurers like Liberty Mutual, still insuring tar sands projects even as pipeline builders endanger Native communities by trying to build the Keystone XL during a pandemic.

This campaign sounds quixotic, but it seemed to be getting traction until the coronavirus pandemic hit. In January, BlackRock announced that it was going to put climate at the heart of its investment analyses. Liberty Mutual, under similar pressure from activists, began to edge away from coal. And Chase – well, Earth Day would have seen activists engaging in civil disobedience in several thousand bank lobbies across America, sort of like the protest in January that helped launch the campaign (and sent me, among others, off in handcuffs). But we called that off; there’s no way we were going to risk carrying the microbe into jails, where the people already locked inside have little chance of social distancing.

Still, the pandemic may be causing as much trouble for the fossil fuel industry as our campaign hoped to. With the demand for oil cratering, it’s clear that these companies have no future. The divestment campaign that, over a decade, has enlisted $14 tn in endowments and portfolios in the climate fight has a new head of steam.

Our job – a more complex one than faced our Earth Day predecessors 50 years ago – is to force the spring. We need to speed the transition to the solar panels and wind turbines that engineers have worked so mightily to improve and are now the cheapest way to generate power. The only thing standing in the way is the political power of the fossil fuel companies, on clear display as Donald Trump does everything in his power to preserve their dominance. That’s hard to overcome. Hard but simple. Just as in 1970, it demands unrelenting pressure from citizens. That pressure is coming. Indigenous nations, frontline communities, faith groups, climate scientists and savvy investors are joining together, and their voices are getting louder. Seven million of us were in the streets last September. That’s not 20 million, but it’s on the way.

We can’t be on the streets right now. So we’ll do what we can on the boulevards of the Internet. Join us for Earth Day Live, three days of digital activism beginning 22 April. We’re in a race, and we’re gaining fast.

  • Bill McKibben is an author and Schumann distinguished scholar in environmental studies at Middlebury College, Vermont. His most recent book is Falter: Has the Human Game Begun to Play Itself Out?
  • This story originally appeared in The Nation and is republished here as part of Covering Climate Now, a global journalism collaboration committed to strengthening coverage of the climate story

Michael Moore’s ‘Planet of the Humans’ asks: what if green energy cannot save the planet?

Reuters – Science

Michael Moore’s ‘Planet of the Humans’ asks: what if green energy cannot save the planet?

By Jill Serjeant, Reuters              

LOS ANGELES (Reuters) – As environmentalists celebrate the 50th anniversary of Earth Day this week, a new documentary poses a sobering question.

What if wind farms, solar panels and other green energy projects are not enough to save the planet and humanity simply cannot sustain life as we know it?

“Planet of the Humans,” executive produced by Oscar-winning filmmaker Michael Moore and written and directed by Jeff Gibbs, asks hard questions about what it sees as the failure of well-meaning efforts to halt climate change.

“It seems like we have been losing the battle,” Moore told Reuters. “We are in deep, deep trouble.”

“Planet of the Humans,” which will be released on YouTube https://youtu.be/Zk11vI-7czE on Tuesday free of charge to the public, argues that the mainstream environmental movement has sold out to corporate interests and that solar and wind energy components and electric cars rely too heavily on deforestation and electricity generated from coal and natural gas to produce them.

“What we have been calling green, renewable energy and industrial civilization are one and the same thing – desperate measures not to save the planet but to save our way of life,” Gibbs says in the film.

A better approach, Gibbs suggests, would be people having fewer children. “Infinite growth on a finite planet is suicide,” he says.

The multi-year film project includes interviews with scientists, industrialists and environmental activists, visits to wind farms, solar installations and biomass plants, and an in-depth look at the companies that collaborate and invest in green energy initiatives.

Moore said that he, like many people, thought electric cars were a good idea, “but I didn’t really think about where is the electricity coming from?”

“I assumed solar panels would last for ever. I didn’t know what went into the making of them,” Moore added, referring to raw materials, including quartz, and the fossil fuels needed to manufacture the panels.

Moore and Gibbs acknowledge the film is bleak in parts but said they hope it will stimulate discussion. Both men will take part in a live Q&A on Wednesday at 10 pm ET (0200 GMT Thursday) on YouTube, Facebook, Twitter and Instagram.

“The film doesn’t have all the answers but it challenges us to think differently,” Gibbs said.

Gibbs and Moore said the mass shutdowns and plummeting air travel that have been one impact from the coronavirus have shown how swiftly the planet could benefit from a change.

The economic standstill could cause carbon dioxide emissions to fall this year by the largest amount since World War Two, the chair of the Global Carbon Project said earlier this month.

“The fact that within days animals are coming back and the skies are blue tells us that we don’t have to build a million square miles of solar panels or buy a zillion electric cars. If we just slow down and stop we can make a tremendous difference instantly,” said Gibbs.

“I think this is a good chance, this 50th (Earth Day)anniversary, to think through who we are, what we’ve become as an environmental movement, and where we should be going next,” he said.

(Reporting by Jill Serjeant, Editing by Rosalba O’Brien)

Here are the largest public companies taking payroll loans meant for small businesses

CNBC – Markets

KEY POINTS
  • Hundreds of millions of dollars of Paycheck Protection Program funds have been claimed by large, publicly traded companies.
  • In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, according to Morgan Stanley.
  • Several of the companies have market values well in excess of $100 million, including DMC Global, Wave Life Sciences and Fiesta Restaurant Group.
20200421 PPPloans to private companies

Hundreds of millions of dollars of Paycheck Protection Program emergency funding has been claimed by large, publicly traded companies, new research published by Morgan Stanley shows.

In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, the firm said.

The PPP was designed to help the nation’s smallest, mom-and-pop shops keep employees on payroll and prevent mass layoffs across the country amid the coronavirus pandemic.

New virus aid bill includes $251 billion in PPP, $60 billion to small lenders

But the research shows that several of the companies that have received aid have market values well in excess of $100 million, including DMC Global ($405 million), Wave Life Sciences ($286 million) and Fiesta Restaurant Group ($189 million). Fiesta, which employs more than 10,000 people, according to its last reported annual number, received a PPP loan of $10 million, Morgan Stanley’s data showed.

At least 75 companies that have received the aid were publicly traded and received a combined $300 million in low-interest, taxpayer-backed loans, according to a separate report published by The Associated Press.

“I think you’ve seen some pretty shameful acts by some large companies to take advantage of the system,” said Howard Schultz, former Starbucks chairman and CEO. Instead, the government should act “as a backstop for the banks to give every small business and every independent restaurant a bridge to the vaccine. And that is the money and the resources to make it through.”

Statistics released by the Small Business Administration last week showed that 4,400 of the approved loans exceeded $5 million. The size of the typical loan nationally was $206,000, according to the SBA report released April 16.

The SBA awarded the plurality of PPP dollars (13.12%) to the construction industry. Professional, scientific and technical services received 12.65%, manufacturing received 11.96%, health care received 11.65% and accommodation and food services received 8.9%.

Congress approved the first-come-first-served PPP in March as part of the massive $2.2 trillion CARES Act, which at the time promised to ease some of the financial burden for many of the nation’s smallest business owners. But the program ran out of money on Thursday, when the SBA announced that it was “unable to accept new applications for the Paycheck Protection Program based on available appropriations funding.”

GP: President Trump Participates In America CARES: Small Business Relief Update
President Donald Trump and Treasury Secretary Steven Mnuchin (L) participate in a video conference with representatives of large banks and credit card companies about more financial assistance for small businesses in the Roosevelt Room at the White House April 07, 2020 in Washington, DC. Doug Mills | Getty Images

 

The nation’s top lawmakers have in recent weeks worked to expand the small-business funding.

Staffers for Sen. Chuck Schumer and House Speaker Nancy Pelosi have been in talks with the Treasury Department on drafting another bill, which appeared nearly finished by Monday evening.

Schumer, the top Democrat in the Senate, said Tuesday that he believes the chamber will pas an aditional relief bill for small businesses later in the day.

Shake Shack CEO Randy Garutti on returning $10M government loan

He told CNN he spoke “well past midnight” with Pelosi, White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin and “came to an agreement on just about every issue.”

By Sunday, deliberations between Republicans and Democrats included setting aside $310 billion more into the PPP. Some $60 billion of that sum would be earmarked for rural and minority groups while $60 billion would go to the Economic Injury Disaster Loan program, a separate relief offered by the SBA for small businesses.

Mnuchin said the deal may include $75 billion in funding for health-care providers and hospitals and $25 billion for Covid-19 testing.

— CNBC’s Lauren Hirsch contributed reporting.

Click here to read more of CNBC’s coronavirus coverage.

Oil Plunges Below Zero for First Time in Unprecedented Wipeout

Bloomberg

Oil Plunges Below Zero for First Time in Unprecedented Wipeout

Catherine Ngai, Olivia Raimonde and Alex Longley        April 20, 2020

(Bloomberg) — Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.

The price on the futures contract for West Texas crude that is due to expire Tuesday fell into negative territory — minus $37.63 a barrel. The reason: with the pandemic bringing the economy to a standstill, there is so much unused oil sloshing around that American energy companies have run out of room to store it. And if there’s no place to put the oil, no one wants a crude contract that is about to come due.

Underscoring just how acute the concern is over the lack of immediate storage space, the price on the futures contract due a month later settled at $20.43 per barrel. That gap between the two contracts is by far the biggest ever.

“The May crude oil contract is going out not with a whimper, but a primal scream,” said Daniel Yergin, a Pulitzer Prize-winning oil historian and vice chairman of IHS Markit Ltd.

“There is little to prevent the physical market from the further acute downside path over the near term,” said Michael Tran, managing director of global energy strategy at RBC Capital Markets. “Refiners are rejecting barrels at a historic pace and with U.S. storage levels sprinting to the brim, market forces will inflict further pain until either we hit rock bottom, or COVID clears, whichever comes first, but it looks like the former.”

Since the start of the year, oil prices have plunged after the compounding impacts of the coronavirus and a breakdown in the original OPEC+ agreement. With no end in sight, and producers around the world continuing to pump, that’s causing a fire-sale among traders who don’t have access to storage.

The extreme move showed just how oversupplied the U.S. oil market has become with industrial and economic activity grinding to a halt as governments around the globe extend shutdowns due to the swift spread of the coronavirus. An unprecedented output deal by OPEC and allied members a week ago to curb supply is proving too little too late in the face a one-third collapse in global demand.

There are signs of weakness everywhere. Even before Monday’s plunge, buyers in Texas were offering as little as $2 a barrel last week for some oil streams. In Asia, bankers are increasingly reluctant to give commodity traders the credit to survive as lenders grow ever more fearful about the risk of a catastrophic default.

In New York, West Texas Intermediate for May delivery dropped as low as negative $40.32 a barrel. It’s far below the lowest level previous seen in continuation monthly data charts since 1946, just after World War II, according to data from the Federal Reserve Bank of St. Louis. Brent declined 8.9% to $25.57 a barrel.

Crude stockpiles at Cushing — America’s key storage hub and delivery point of the West Texas Intermediate contract — have jumped 48% to almost 55 million barrels since the end of February. The hub had working storage capacity of 76 million as of Sept. 30, according to the Energy Information Administration.

Fund Inflow

Despite the weakness in headline prices, retail investors are continuing to plow money back into oil futures. The U.S. Oil Fund ETF saw a record $552 million come in on Friday, taking total inflows last week to $1.6 billion.

The price collapse is reverberating across the oil industry. Crude explorers shut down 13% of the American drilling fleet last week. While production cuts in the country are gaining pace, it isn’t happening quickly enough to avoid storage filling to maximum levels, said Paul Horsnell, head of commodities at Standard Chartered.

”The background psychology right now is just massively bearish,” Michael Lynch, president of Strategic Energy & Economic Research Inc said in a phone interview. “People are concerned that we are going to see so much build up of inventory that it’s going to be very difficult to fix in the near term and there is going to be a lot distressed cargoes on the market. People are trying to get rid of the oil and there are no buyers.”

For more articles like this, please visit us at bloomberg.com

This Solar Panel Just Set a World Record for Efficiency

Popular Mechanics

This Solar Panel Just Set a World Record for Efficiency

Caroline Delbert, Popular Mechanics           
Photo credit: Tvn Phph Prung Sakdi / EyeEm - Getty Images
Photo credit: Tvn Phph Prung Sakdi / EyeEm – Getty Images From Popular Mechanics

 

  • A new solar panel has reached 47 percent efficiency in the lab and nearly 40 percent in the field.
  • This panel exceeds typical panels by combining six kinds of collectors into one micro-thin surface.
  • Researchers say the same tech could be fine-tuned to reach a full 50 percent efficiency.

A new kind of solar technology has set a world record for the most efficient generation of energy by a solar cell. By stacking six different photo-active layers, the record-setting multi-junction cell has reached nearly 50 percent efficiency in the lab and nearly 40 percent in “single sun” real-life conditions.

There’s a bit of jargon to unpack before we can really understand what a big deal this is. First, a multi-junction cell is just a solar collector cell that uses more than one “junction,” or layer, of solar technology. Because sunlight covers such a wide range of wavelengths, different kinds of receivers are able to pick up different wavelengths of light in order to cover more of the total available spectrum.

Individual types of solar might have efficiency of, say, 8 percent—meaning 92 percent of sunlight is just reflected off like any other surface, but 8 percent is absorbed and collected as energy. (That number is just a math example; most panels are 15 to 18 percent efficient.) By stacking the technologies from six different solar cells, solar researchers can ratchet up that efficiency multiple times over.

The more efficient an overall technology is, the more we can shrink panel size while keeping the same energy production. That can mean panels that are: cheaper for consumers outfitting their homes, smaller, able to be shaped around tiny or complicated surfaces, and able to power a lot more stuff. Imagine if one gallon of paint suddenly covered five times more area, or if one meal could feed five people.

In total, there are 140 layers of the six different solar collector materials. Even so, the entire collecting surface is one-third the thickness of a human hair. The research team used different semiconductors and carefully arranged them to maximize usable surface area through all 140 layers. “Further reduction of the series resistance within this structure could realistically enable efficiencies over 50 [percent],” the researchers say.

The semiconductors are of a type called III-V, which is a family of alloys made by combining elements from periodic table group III with those from group V. In fact, the elements from both III and V groups are primarily known in alloy form.

“Because of the unique properties of the compound III-V semiconductors, they have been the source of a rich world of science, technology and applications,” Sandia National Laboratory said in a 2004 report. “This world has, on the science side, led to 7 Nobel Prizes in Physics; and, on the applications side, led to a roughly US $12B global chip market in 2001, projected to become US $31B in 2006.”

It sounds like III-V’s next Nobel trick could be for revolutionizing solar panel efficiency, with a world record that translates directly into more renewable energy and more energy density during uncertain global times.

No Sewing, No Cutting: Actor Turns T-Shirt Into A Face Mask In Just 45 Seconds

HuffPost

No Sewing, No Cutting: Actor Turns T-Shirt Into A Face Mask In Just 45 Seconds

Ed Mazza, HuffPost           

 

There are also plenty of do-it-yourself instructions that involve little effort. But the easiest option of all is already sitting in one of your drawers.

In a video posted on Twitter Monday, Indian actor Ronit Roy demonstrated how to turn a T-shirt into a full face mask with no cutting:

Thomas Paine’s 1797 call for a Basic Income: a New Paper Tells the Full Story