Spruce Comes Back. After having been taken over by their senior lender and stopping the loan business, Spruce is back in the market with a bit of a twist. Spruce will be buying solar portfolios based on the knowledge that the company has in operating the assets. I wouldn’t be surprised if this leads to also managing portfolios for institutional capital when the solar market grows to beyond 1million new homes going solar per year.
South Carolina Dealmaking. Legislators and the utility are closer to a deal that would uncap the net metering rule for a period of 2 years. The ‘cost’ is that PURPA projects that need contracts over 10 years would have to create some sort of guarantee that the rate stays below the avoided cost. Hard to read the fine print on that and think that the contract isn’t really a contract but I will speak to some developers and try to understand what it means. Good news for residential though and I’m sure homeowners will be making sure their roof warranty stay intact by asking for Quick Mount.
A Climate Emergency. The UK parliament has agreed on Brexit, just not from the EU but instead from carbon emissions. The parliament wants the UK to be net-zero by 2050 and urged the Committee on Climate Change to adopt a resolution stating that fact.
Down To $5.3Billion. The oil companies have had a tough quarter, Shell’s profits were down year over year and only achieved $5.3billion for the quarter. The others were down as well and the total profits barely surpassed $10billion for the quarter in total. Hard to imagine that the consolidation between solar/EVs/storage and the oil majors doesn’t continue into the next decade.
Presented By RayTray. RayTray is a solar wire management system. Designed for commercial ballasted flat or standing seam roof projects. It was created by commercial solar installers for commercial installers. It is a great, cost-effective solution for managing home runs, quicker and easier to install than conduit. RayTray is listed to conform to UL Standard 870. It is highly customizable with no grounding needed and no roof attachment. It can hold up to thirty 10 gauge wires per tray. RayTray also simplifies O&M, giving quick access to wires, all at a cost of less than a penny per watt.
- Greentech Media: Spruce Finance Gets Second Act as Owner and Operator of Home Solar Assets
- Utility Dive: South Carolina compromises on PURPA contracts, eliciting Duke support for pro-solar bill
- CleanTechnica: UK Declares “Climate Emergency” As Committee On Climate Change Urges Net-Zero
- Axios: Shell reports $5.3 billion in profits, 7% lower than Q1 of 2018
- Vox: The House just passed its first climate bill in a decade
- Rocky Mountain Institute: Elevating Utility Business Model Reform at e–Lab Accelerator 2019
- Bloomberg: Electric Cars and Solar Compete for the Same Parts
Opinion
Have a great day!
Yann