Getting It First. Covering news is easy, finding the information you need is hard. That’s what I try to get with this platform and why I focus my time on finding interesting information from leaders across the solar space to bring you. This week you heard a senior executive from Engie tell you that the future is without coal or gas power plants. Take that piece of information and wrap it in the context of the second story today and it gives you a better view of what is actually happening. The full recording of the conversation with Thierry from Engie is now online and in your favorite podcast app.
CPUC Gets It. In a filing from the regulatory body, CPUC wants PGE to focus on energy storage to replace needed power. This is a move into the clean energy system but it also represents that long term nature of ratepayers having to pay for gas assets over the next 30 or 40 years. Gas plants are going away, not just peaker plants but also those that are scheduled to be built in the upcoming years.
BEAT It. Reporting on legislative activities is a fool’s errand but let’s play along anyway. It seems like the BEAT provision we saw in the Senate version of tax reform may be removed for the final version. That means the only major impact to solar is the reduction of overall tax equity supply by about 40% and lowering the value of depreciation by the same. Solar lobbyists should be fighting to make active income eligible for passive investment structures, a simple fix considering the language already exists for oil and gas.
Sluggish Market. SEIA released Q3 market data and it barely topped 2GW. This isn’t because the market is slowing, it has everything to do with the 201 case and developers waiting to get the final number. I’ve had dozens of people tell me that taking the risk on retroactive tariffs is not one anyone can sign on to and therefore projects are being pushed forward. People are already being laid off across the Country due to these terrible actions by offshore hedge funds. Taking hint from Trump, maybe those losing money because of the case should file suit against Suniva and SolarWorld for damaging their business. Just a thought.
PACE. The FHA issue is coming back up but folks are telling me that it is unlikely to slow the residential PACE segment. On the other hand, commercial PACE looks to be picking up and with greater volumes becoming more competitive on the pricing side. With seismic and hurricane retrofits eligible, it’s not just the energy improvements getting this money. Look to see PACE counting to grow in the C&I segment.
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- SolarWakeup: Engie Executive Sees End Of Coal, Gas and Nuclear Power – Interview with Thierry Lepercq
- Los Angeles Times: California regulators propose replacing PG&E natural gas plants with energy storage
- Bloomberg: Tax Tool Crucial to Wind, Solar Seen Spared in Reform Deal
- Reuters: U.S. solar installations to fall more than expected in 2017
- Rocky Mountain Institute: FHA Should Reconsider their About Face—About PACE
- Grist: The Republican tax bill could lead to major job losses across the U.S. renewable industry
- Austin Monitor: Electric Utility Commission recommends purchase of more solar power
- Bloomberg: World’s Solar Is About to Hit 100 Gigawatts, Thanks to China
Opinion
Have a great day!
Yann