Ensuring Generation Growth. The language coming from the US offshore development companies is concerning as many of them are seeing no path to start of construction. The issue at hand is that the proforma is upside down, costs from interest rates, supply chain and inflation causing revenues to miss the mark on the capex that it will take to build GW of offshore wind. The problem is the need for generation is expanding faster than expected to we need to build all of the generation possible. That leaves a couple options for these wind projects, let utilities ratebase it or force the markets to renegotiate the offtake agreements. In the meantime, it’s important to accelerate the interconnection bottleneck and get more solar/storage projects financed and built.
Opinion
News
1 Reuters:
Orsted CEO says abandoning US wind projects a 'real option', Bloomberg reports
2 Energy News US:
In unexpected move, New Hampshire utilities voice support for solar net metering
3 Utility Dive:
Ninth Circuit largely upholds FERC PURPA reform decision affecting small solar, wind
4 PV-Magazine:
Qcells to enter into $3 billion supply agreement for U.S.-made polysilicon
5 Bloomberg:
Texas Teeters on Edge of Blackouts as Demand Squeezes Grid
6 New York Times:
At Africa’s First Climate Summit, a Clear Call to the World - Invest in Us
7 Canary Media:
Another US EV-battery recycler just raised a massive funding round
Opinions:
8 Energy Storage News:
BESS operators oppose ERCOT’s NPRR 1186 changes
Have a great day!
Yann
Opinion
Best, Yann
News
1 Utility Dive:
Eversource, National Grid file draft plans to meet expected demand surge from electrification
2 New York Times:
Want to Understand Clean Energy Anxiety? Look at the Jersey Shore.
3 Reuters:
BP's Looney holding his nerve over energy transition plan
4 Solar Builder:
Ohm Analytics reports DG solar market grew 6% in Q2
5 PV-Tech:
Pattern Energy begins 3GW transmission project in US
6 Energy Storage News:
India requires 74GW/411GWh of energy storage by 2032, according to National Electricity Plan
7 PV-Magazine:
Bringing ERCOT’s speedy interconnection process to the rest of the U.S.
Opinions:
8 Canary Media:
The fight over California community solar- ‘It’s everyone vs. utilities’
Have a great day!
Yann
Investing In Ecosystems. American politics mandates that you have to accomplish big things in your first two years if you can, because the election cycle eats you up in the second half of your first term and you likely lost Congressional seats in the mid-terms. Biden had the Chips Act, Bipartisan Infrastructure and Inflation Reduction Act find his signature in that first half and the administration has been busy since then. The interesting part of that is not the politics for the point I want to make today, it’s how the administration is working on all angles of the trillions of private dollars that will follow these markets. Invest in the infrastructure that enables roads, charging, and wires that will allow electrification to be resilient. Fund training for construction, factories and maintenance of a new portfolio of assets. Expand the markets that will demand the production of everything: cars, batteries, renewable energy and more. For example, most people love their EVs but some will complain about charging infrastructure that could limit their recommendation. Some want more solar, but the interconnection queue is clogged from outdated wires. All of this is wonky and early but in order to see trillions in economic growth trickle through the system, it has to get done.
Opinion
News
1 Axios:
White House launches billion-dollar effort to speed EV production
2 New York Times:
Clean Energy Projects Are Booming Everywhere. Except in Poor Nations.
3 Bloomberg:
China Leaves Everyone Behind in Race for Renewables Income
4 Energy storage News:
EU Batteries Regulation introduces ‘ground-breaking reform’ to to meet Green Deal aims
5 Reuters:
India steps up coal use to stop outages triggered by unusually dry weather
6 PV-Magazine:
U.S. and India launch joint renewable energy tech platform
7 PV-Tech:
TrinaTracker opens 2.5GW tracker manufacturing plant in Brazil
Opinions:
8 Canary Media:
Add these climate books to your end-of-summer reading list
Have a great day!
Yann
Opinion
Best, Yann
News
1 Axios:
Hurricane Idalia is yet another test of America's aging power infrastructure
2 Canary Media:
Eos wins $400M DOE loan guarantee to build longer-lasting batteries
3 Bloomberg:
The Biggest Fossil Fuel Subsidies Are Indirect, and Bigger Than Ever
4 Utility Dive:
Treasury proposes regulations for IRA’s wage and apprenticeship requirements
5 Reuters:
Philippines to auction off 8-gigawatt power capacity in push for renewables
6 PV-Tech:
Clēnera signs PPA with Arizona Public Service for upcoming CO Bar solar and storage project
7 Energy Storage News:
Engie Chile starts building 418MWh BESS at solar PV plant
8 PV-Magazine:
Nexamp orders 1.5 GW of Heliene solar modules
Opinions:
9 Renew Economy:
AEMO says coal exits won’t trigger shortfalls if big batteries built on time
Have a great day!
Yann
