Personal Update. For the third time since the start of this newsletter, I have a new day job. This time I am excited to be joining the rockstar team at FlexGen as CFO. You’ve heard me talk about FlexGen in the past because over the last decade FlexGen has been at the leading edge of integrating batteries. From the military battlefields to the oil wells and now the grid, FlexGen has earned the right to be the second largest integrator in the Country and the future is as bright as ever. If you want to read more about this, please check out the great reporting from Julian Spector at GTM. I will remain based in South Florida with our company based in Durham. This platform has never been my personal lead gen site but as many of you start thinking about how, where and what around energy storage, please reach out and I’d be happy to connect you with the team. I’ll do some more FlexGen background on Monday so you know where we play in the ecosystem. In my career I’ve been fortunate to work with great people that have become friends, all of the smartest things written here come from them. FlexGen follows a trend that has allowed me to enjoy my work as I join Kelcy Pegler in this venture who joins the company as CEO, you may remember him from his greatest hits at Sofdesk (acquired by Enphase) and Roof Diagnostics Solar (acquired by David Crane’s NRG). Fun trivia for you, it was none other than solar’s number 1 supporter, Bill Walton, that introduced me to Kelcy.
Why Storage, Why Now. For 10 years energy storage was a solution without a market, with niche and pilot opportunities driving any addressable market. As outlined by the record breaking year and hockey puck quarter, storage is now an integral part of the energy transition. None of this is a futuristic notion anymore and energy storage companies are prepped for hyper growth. Storage is also the ultimate climate tech story, where hardware and software meet to create an intelligent and resilient grid. There is a lot of maturity left to find in the market, especially around scope of work to drive down the price and eliminate multiple layers of margin. This maturation reminds me of solar and makes me feel like I have an edge given the experiences I had going EPC, EpC and Epcm scopes as module and hardware scopes continued to fluctuate during solar’s growth. Energy storage also changes the game for solar as a price maker not a price taker in the power markets which enhance every aspect of the market, particularly as storage costs continue to decrease faster than any estimates in the market. In a world where I look to hit a hole in one on every hole, this market opportunity feels like the best way to do just that.
It Continues. Yes, SolarWakeup will continue and I will never stop caring about all segments of the solar market. You will be able to email me back any morning I write something you disagree with or want to ask me questions. This platform will remain a central part of who I am as a professional in the space. Thank you all for the words of support and congratulations, I remain in awe of how many of you take the time to reach out and read this little newsletter that started with 40 readers.
- Greentech Media: Storage Integrator FlexGen Gains New Leadership at Crucial Time
- Solar Industry: U.S. Energy Storage Solidifies Record-Breaking Year
- Reuters: U.S. energy regulator focuses on access to renewable power to reduce climate impact
- Utility Dive: Xcel proposes $1.7B transmission investment in Colorado to unlock nearly 5.5 GW new renewables
- Vox: The pandemic caused a record drop in carbon emissions. Then they bounced back.
- PV-Magazine: RFP alert – AEPEP seeks up to 500 MW of renewables and storage
- PV-Tech: Faster renewables permits and stronger grids essential to green hydrogen progress, coalition says
- Axios: Exxon outlines plan to expand carbon capture efforts
Opinion
Best, Yann