Business buys into EPB Solar Share
Andie Seller’s Bettieville on M.L. King Boulevard is Chattanooga’s first business to buy a stake in EPB’s solar array along Holtzclaw Avenue. Sellers became a “Solar Share leader” by licensing eight panels at EPB’s community solar power generation facility.
“I get to be part of something really cool and support Chattanooga’s environmental efforts,” Sellers said.
Sellers expects to get 62 percent of the electricity she uses from the eight solar panels she has bought, or licensed, from EPB. The municipal utility got a grant from TVA to help install the 4,408 solar panels and is licensing its customers to effectively either buy or lease the solar panels to get the power they generate to offset their monthly power bill.
The EPB solar share program is capable of generating nearly 1.4 megawatts of electricity from the sun and EPB spokesman John Pless said customers have already agreed to license more than 40 percent of the power the solar array generates.
VW Touareg SUVs recalled for fuel leaks
Volkswagen is recalling nearly 74,000 SUVs in the U.S. because a fuel pump flange can develop cracks and leak gasoline. The recall covers Touareg SUVs with gasoline engines from 2004 to 2007.
It’s part of a larger recall announced in July by the National Highway Traffic Safety Administration involving flanges made by parts supplier Continental that could affect millions of vehicles. The agency is investigating which vehicles are affected.
VW says the safety agency found consumer complaints about the problem. Aging oxidation can weaken the flanges and cause small cracks. Those can leak fuel and cause fires, although documents don’t mention any.
Dealers will inspect the flanges and replace them if necessary. Those without cracks will get a protective cover.
Owners will be notified starting Nov. 19.
EPA to work with firms it regulates
The head of the Environmental Protection Agency says his staff will now work in close partnership with industries the EPA regulates.
EPA Administrator Scott Pruitt says he’ll revive a Bush-era program to maintain an open dialogue with American businesses. Pruitt says the collaboration will boost the economy while delivering “better environmental outcomes.”
The EPA’s announcement includes statements from industry leaders praising the initiative, including chemical manufacturers, pesticide makers, electric utilities and oil and gas producers.
At the EPA, Pruitt has worked to delay or roll back numerous Obama-era limits on air and water pollution. Pruitt also has said he’s unsure about the consensus of climate scientists that man-made carbon emissions are the primary cause of global warming.
Yellen says Fed will ease rules
Federal Reserve Chair Janet Yellen said Wednesday that the Fed is committed to making sure that the regulations it imposes on the nation’s community banks are not overly burdensome, noting a proposed rule issued last week to simplify requirements governing how much capital those banks must hold.
In remarks to a community banking conference in St. Louis, Yellen said the proposed new rule on capital requirements was the latest effort by regulators to ease burdens on smaller banks. She said the Fed is seeking to increase the number of community banks eligible for less frequent examinations and loosen requirements for property appraisals on commercial real estate transactions.
Yellen has defended the tougher regulations imposed following the 2008 banking crisis but has said there is room to ease regulatory burdens on smaller banks.
“For community banks, which by and large avoided the risky business practices that contributed to the financial crisis, we have been focused on making sure that much-needed improvements to regulation and supervision are appropriate,” Yellen said.