Coal’s New Opportunity. Half a decade ago there was a decision by policy makers to lift the oil export embargo in the US. That shift in energy law would open the ability for a long term extension of clean energy tax credits but it didn’t come without an ideological fight within the environmental movement. Does it make sense to create bigger solar markets by expanding the opportunity for oil? While that question was fruitless because the embargo was going to be lifted regardless, the path opened up for the ITC extension. Today, there is a different issue, particularly for Europe but it bodes important for the key Senate vote sitting in West Virginia. Was gas the wrong bridge fuel for Europe and should the clean energy market put coal in its tent? Hear me out. Why wouldn’t there be some sort of policy that gives coal what they want, regardless of what they want, so that Europe feels diplomatic security in return for a certainty that clean energy wins the long run? Coal is basically impossible to finance, which gives its longevity the exact timeframe that policymakers want and in this case the vote that we need in the Senate. The world needs a standalone tax credit for storage, for our resilience and for our market to pave the way for the world to show that storage is centrally important and capable to have that responsibility. Solar, wind, hydrogen and others need tax credits to spur investments totaling trillions, so let’s do what has to be done to get going.
Getting To 2022 COD. Join the Sustainable Capital Finance (SCF) team on May 4th, 10am PST, as they share solutions to industry wide challenges causing project delays. The goal for attending developers and Epcs is to undertake strategies enabling project reach energization in 2022. This free webinar is recommended for solar installers, developers and originators involved or interested in financing C&I, nonprofit & governmental solar as well as electric vehicle charging solutions. To register, simply click here.
- Axios: Coal has lots of staying power
- Bloomberg: Half-Built Solar Project Shows Risk From Tariffs to Biden’s Green Agenda
- Utility Dive: Gov DeSantis vetoes rooftop solar bill, citing desire to not add to ‘financial crunch’ facing Floridians
- GreenBiz: This solar’s for you – Budweiser helps bars plug into renewable electricity
- Reuters: Judge rules for Elon Musk in $13 billion lawsuit over Tesla-SolarCity deal
- Energy Storage News: PCS manufacturer Dynapower to be acquired for US$580 million
- PV-Magazine: Missouri town declares solar farm a nuisance
- PV-Tech: ‘America cannot afford to wait’ on Build Back Better say US corporates as Manchin turns to Republicans for support
Opinion
Best, Yann