WFH Reimbursement. With companies having their employees working from home, some going permanently remote, the load profile is shifting for the grid. It also begs the question of how companies will provide stipends to their employees. You could imagine a stipend for a separate bedroom, high speed internet or energy consumption. Which company will strike the first deal to put free solar on employees’ homes with the company picking up the monthly bill?
GM To Investors, Is Pepsi Okay? GM is contemplating the spin-off of its electric vehicle business. This would be very good for that division, able to focus and deliver better products but it would be a disaster for the old GM. The old company shareholders would be left knowing that their business has a decade left before most of its market share evaporates, with exception for a few niche market segments. There is no way that this happens and the CEO should have enough conviction to say so.
The New First Solar. Last week I wrote about the new SunPower, shedding its manufacturing to focus on sales and install of residential and C&I markets. First Solar is doing the same but looks to be focused on being a module manufacturer, centered on the implementation of the series 6 module. It already sold its O&M business and is now looking to sell its development arm. Interestingly it cites headwinds in tax equity, given that the company was a major opponent of the tax equity extension a few years ago. Development platform deals appear to be heating up, rumor has several other firms also being acquired.
Venturing Into Solar Investing. Investing in solar related startups is going to get better. As we get digital and the energy production gets smarter, teams of bright minds will be able to change the way things are done. This inevitably gets faster and better through pivots and iteration. Solar investing, into corporates, is very limited though there are now more folks that appreciate the space that have made good money doing that. I toyed with the idea of a Wakeup fund to seed companies a few years ago but neither the pipeline nor the investor base was there then. Not sure how this plays out but I’d love to see a solar angel fund circling the startup universe.
The Veep Week. We are likely going to hear Biden’s pick this week on his vice presidential nominee. The noise around energy being a counterpoint is getting louder so we will cover that angle when it comes up.
A Price Challenge. The SolarWakeup Buyer’s Group is presenting a price challenge. Take your favorite and most commonly used products and if they are on the price sheet for the buyer’s group, we’ll respond with your transparent cost for it. No frills, no negotiations, just the best price we could bring to the market using bigger volume. In the past week we’ve had outreach from every major manufacturer that appreciates the transparency and we look forward to adding more products to the portfolio. Of course you can always sign up and see for yourself.
- Axios: With rise of remote work, pandemic shifts power bills from offices to homes
- Reuters: GM CEO says spinoff of the automaker’s EV assets not off the table
- PV-Tech: First Solar sells O&M arm, explores future of EPC business as tax equity headwinds loom
- GreenBiz: Clean energy innovation Is unlocking private venture capital
- Politico: Climate on the Veep shortlist
- Greentech Media: New Mexico’s Plan to Shut Down Coal Without Leaving People Behind
- Utility Dive: Renewable energy prices begin an upward trend, LevelTen data shows
Opinion
Best, Yann