Your IRA Talking Points. Every single one of us is asked about the political risk around the IRA and the election so let me give you my two cents, which is a consolidation of some of the ideas that I’ve heard. The IRA serves two purposes for the republican majority, assuming that remains post election. The first is political, meaning the IRA is a great argument to make that democrats are on a spending frenzy while killing oil and gas or forcing EVs through a mandate. (Neither of which is actually the case but you get the point). The second is more nuanced and important for you to use in a discussion. The IRA is incredibly popular in parts, tax credits for solar, wind and energy storage etc. But there are many sections of the IRA that have not gotten the pull through, which happens with tax credits. With the Trump tax credits expiring next year, Congress will look for areas to ‘pay for’ those tax credits and pulling from the IRA, in parts, will be the argument.
The Bottom Line. It is politically unlikely that the republican majority would gut the IRA, just look at where the hundreds of billions of factories are located. They will argue against it publicly and then pull some unused sections as pay fors in the attempt to extend tax cuts. Ultimately this assumption will be tested based on how November plays out.
Thank You. It’s been a great first week at FTC Solar, I appreciate all of your support and notes. With RE+ coming up, I hope to see you there and of course I look forward to touching base with those of you that are in the market for trackers. It’s amazing to be back on the solar coaster!
Opinion
News
1 Politico:
Republican fight over green subsidies heads toward a boiling point
2 Utility Dive:
CAISO interconnection reform plan draws support from SoCal Ed, PG&E, PUC
3 Bloomberg:
China’s Top Solar Firm Reports Profit Jump on Clean Energy Boom
4 Axios:
Exclusive - Harris target of swing-state EV attack
5 PV-Tech:
Generate and KeyState close investment fund for 53.5MW of New York community solar
6 Renewable Energy World:
Blackouts in extreme weather drive demand for cleaner backup power
7 Energy Storage News:
TCC ups valuation of NHOA shares ahead of takeover
9 PV-Magazine:
TMEIC announces 9 GW utility-scale solar inverter factory in Texas
Opinions:
10 New York Times:
Harris’s New Strategy - Equate Fighting Climate Change With ‘Freedom’
Have a great day!
Yann
Opinion
Best, Yann
News
1 Utility Dive:
IRA’s labor standard requirements could create 3.9M ‘high-quality’ jobs
2 Bloomberg:
Energy Prices Turn Negative in Europe as Renewables Abound
3 Reuters:
California rooftop solar subsidy to cost $8.5 billion a year, says ratepayer advocate
4 Axios:
The dangers of "overshooting" the Paris climate targets
6 Renewable Energy World:
Aussie plan to build ‘world’s largest’ solar farm moves forward
7 Energy Storage News:
Political uncertainty over tariffs prompts renegotiation for REV Renewables long-duration BESS
8 PV-Magazine:
Report shows U.S. states and utilities easing into EVs
Opinions:
9 Heatmap News:
What Happened When I Asked Maryland’s Larry Hogan About Climate Change
Have a great day!
Yann
Opinion
Best, Yann
News
1 New York Times:
Harris Goes Light on Climate Policy. Green Leaders Are OK With That.
2 Utility Dive:
FERC rejects Basin Electric’s cryptocurrency mining rate proposal
3 Canary Media:
The power grid is hard to understand. This startup is trying to help.
4 PV-Tech:
Google finances Swift Current Energy 800MW solar PV project in Illinois
5 Texas Standard:
As dangerous heat grips Texas, solar power and batteries keep the power grid humming along
6 Bloomberg:
China Cuts Back on New Permits For Coal Power as Renewables Boom
7 Energy Storage News:
Jupiter Power puts Houston’s first large-scale BESS into action in Texas’ ERCOT market
8 PV-Magazine:
GM signs agreement to match assembly plant power demand with solar
Opinions:
9 Renewable Energy World:
There’s a flood (of variable generation) down in Texas helping ERCOT manage demand records
Have a great day!
Yann
Opinion
Best, Yann
News
1 Renewable Energy World:
SunRun surpasses 1 million residential solar customers
2 Bloomberg:
Southeast Asia Solar Boom at Risk From US-China Trade Stress
3 Canary Media:
Georgia voters could make or break their state’s clean energy jobs boom
4 Utility Dive:
More efficient electric vehicles can reduce grid stress, cut charging costs by almost a third - ACEEE
5 Axios:
Why climate is missing from climate groups' ad splurge
6 Reuters:
Australia approves $13.5 bln project to export solar power to Singapore
8 PV-Magazine:
Natron Energy announces $1.4 billion sodium ion battery factory in North Carolina
Opinions:
9 Energy Storage News:
Battery storage could meet Illinois resource adequacy need as fossil fuels retire, analysis finds
Have a great day!
Yann
