This is your SolarWakeup for March 15th, 2019
Presented by ENGIE Storage. (formerly Green Charge) helps power the world more efficiently and sustainably. As the nation’s number one distributed energy storage company, we serve energy producers, distributors, and consumers, including utilities, network operators, and energy consumers in business and government.
Youth Climate Strike Day. My kids are staying in school but they are wearing a shirt in honor of the day that hopefully has an impact across the world. Their shirt is a quote from David Crane that he wrote in a letter to shareholders while the CEO of NRG Energy. “You Knew…and You Didn’t Do Anything About It? Why?” I hope that the kids will have an impact on elected officials to show that their decisions are not only for the next election but for 2 or 3 decades from now. A vote against solar or an RPS may not mean much for the politician but the impact will carry weight for years to come. The kids know what inaction means and today is a day to memorialize it.
Gary Cohn Tried. On the Freakonomics podcast, former advisor to the President Gary Cohn said that he tried to explain to Trump that solar and not coal was the future. During the tariff debate he showed that solar had hundreds of thousands of jobs, up from nothing ten years ago versus coal which is 50,000 and declining. This is in line with what I’ve been told from meetings with Cohn during the 201 tariff discussion.
12,000 Interconnections. Who’s ordering a Tesla Model Y? During last night’s unveiling Elon highlighted the company’s success including the vast supercharging network. The number now stands at over 12,000 chargers across the world which means that the team had to site, interconnect and build that many systems. Anyone that has had to deal with interconnections, especially my friends in the charging business can attest that this is no small feat.
Join Me In Boston. Here’s another chance to get your ticket, this isn’t a big theater and we have a few seats left to network and join me on stage at SolarWakeup Live! Boston. We’re talking policy, SMART, community solar and development. Use code SWLB20 for 20% off as a loyal SolarWakeup readers.
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Yann
This is your SolarWakeup for March 14th, 2019
Presented by Pfister Energy. Changing the way energy is generated and delivered. Pfister Energy is a leading turnkey design-build renewable energy solutions company. Servicing C&I, community and utility sectors for solar, storage and O&M. Visit pfisterenergy.com for more information
FERC Denied. The PG&E saga continues, now with a federal court denying FERC the jurisdiction it called for with regard to the PPAs. If you recall, NextEra had filed with FERC that the PPAs should be safe from the bankruptcy. This means that the issue becomes a political problem for Governor Newsom. If PG&E is able to cancel existing PPA contracts, it would create irreparable harm to solar in California and across the Country. The cost of solar would skyrocket and all goals that Newsom had planned for would be endangered.
Utility Startup Incubator. This is a smart move, a utility in the Midwest is starting a tech startup space to enable young companies to get started. Starting a company in energy is difficult and the funding mechanisms for startups in this space requires some traction before money is likely to come in. In the Northeast, the leader in this space is Greentown Labs led by Emily Reichert. Greentown Labs is the largest clean tech incubator in the Country with over 170 companies incubated that have raised over $320million in funding. Emily is joining me on stage at SolarWakeup Live! Boston to share her experiences and the work it takes to raise money in the space.
Oil Speaks Up GND. Energy executives at CERAWeek went on the record to talk about the Green New Deal and the fact that investors are asking the energy companies what their plan is to lower carbon emissions. Even Rick Perry agreed that AOC shouldn’t be castigated for wanting clean air and clean water. BP’s CEO said that there is a lack of progress on climate issues that investors are angry about. This continues the trend that will see cash rich companies looking for ways to have an impact, not make headline announcements. Big investments into companies that create a big impact on the overall company’s sustainability.
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Yann
This is your SolarWakeup for March 13th, 2019
Presented by CleanChoice Energy. empowering people and businesses to cut emissions, support renewable energy, and live cleaner lives. Founded in 2012, the company has become one of the fastest growing businesses in America, as ranked on the Inc. 500 and Deloitte’s Technology Fast 500™. CleanChoice Energy is a "Best for the World" Certified B Corporation, a member of the American Sustainable Business Council and the U.S. Green Building Council and is certified with the highest available rating by Green America's Green Business Network. For more information or to become a customer, visit CleanChoiceEnergy.com
Solar Market Grows. The market data for 2018 is out and the result is another double digit year with 2018 closing at 10.6GW. Residential market grew by 7 percent to 2.4GW while the utility scale had some headwinds from the tariffs. The forecast from Wood MacKenzie for 2019 is over 12GW.
New Mexico Joins Club. Congratulations to the advocacy teams in New Mexico as the legislature overwhelmingly passes a 100% by 2045 RPS bill. The Governor is eagerly waiting for the bill to arrive for her signature which will happen as quickly as possible. New Mexico joins Hawaii, California and D.C. in the 100% club with bills filed in several other States including Massachusetts. We will be digging into the details in Boston on the 26th to talk about what this means to the solar and storage markets.
More Name Changes. COSeia, the Colorado solar association, is changing its name. With a recent change in leadership, former SEPA staffer Mike Kruger, is now the President and CEO of the Colorado Solar and Storage Association. COSSA is now your State trade association and my hat goes off to the team for making the change.
PG&E, CPUC and More. There was a story in yesterday’s wakeup about the California Governor’s look inside the CPUC, potentially replacing one or more commissioners. Vote Solar’s Adam Browning opined on the news in this tweet. Adam is right, commissioners should come with or from the renewable energy or solar industry so that the industry that is tasked with changing the energy landscape has an internal expert.
Sec’s Pompeo and Perry Come To SPI. Just kidding of course, but that was my first thought when I saw that CNBC was interviewing both members of Trump’s cabinet at an energy conference. CERA Week is the Davos of energy with every major energy executive in Houston (just imagine what the tarmac at the airport looks like). There will be a day when the solar trade show brings major cabinet members to the event. There was on solar panel at CERA Week, some names you will recognize.
Welcome To Live! Join me and many of your market colleagues as we gather in Boston on March 26th. The speakers are getting ready to have a conversation about the current state of affairs and how SMART will roll out. You can see the full agenda at solarwakeuplive.com
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Yann
This is your SolarWakeup for March 12th, 2019
Presented by ENGIE Storage. (formerly Green Charge) helps power the world more efficiently and sustainably. As the nation’s number one distributed energy storage company, we serve energy producers, distributors, and consumers, including utilities, network operators, and energy consumers in business and government.
Listening Closely. When it comes to the presidential nomination cycle, the race has begun. Each of the aspiring candidates is talking about their renewable energy platforms and what it means to our industry. Pete Buttigieg, Mayor of South Bend Indiana, is getting a national audience on all of the big platforms including Pod Save America and a town hall on CNN. During his Pod Save America interview he spoke more clearly about renewable energy, climate change and the Green New Deal than anyone else on the circuit. Given that we are the same age, I was discounting his ability to cut through the noise but at least on this issue, I want to hear more from the Mayor from an industrial city in the Midwest. If anyone can get coal miners and factory workers to realize that the future of work includes our industry, I think Mayor Pete has a chance. As he puts the Green New Deal, “It correctly situates this as a major national emergency.” Watch the full Pod Save America interview and let’s start a campaign to have Mayor Pete join me on SolarWakeup Live!
Get Your Tickets. Curious about community solar investments in the Northeast and within the SMART program in MA? We have three of the leading operators and developers in the business on stage at solarwakeuplive.com
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Yann
This is your SolarWakeup for March 11th, 2019
Presented by Pfister Energy. Changing the way energy is generated and delivered. Pfister Energy is a leading turnkey design-build renewable energy solutions company. Servicing C&I, community and utility sectors for solar, storage and O&M. Visit pfisterenergy.com for more information.
Senate Tax Extenders Diss Solar and Storage. The Senate Finance Committee is out with their list of extenders to be considered in the annual exercise to extend tax credit and deductions. Out of some 29 line items, not a single one is for solar or storage even though the ITC is stepping down at the end of the year and storage isn’t considered at all. There is no sense on casting blame, yet, but the question is how does an industry that should be at the top of power in DC doesn’t get a mention in one of the most important memos of the year? How does storage, which is the future of replacing expiring power generation, get completely ignored? We have to have an internal evaluation on how our industry advocates, what it asks for and how we make those requests. If we rationalize this failure
InterSolar N/A. What once was my favorite trade show of the year is now over, InterSolar North America has been sold to a new show producer and the July event is rescheduled for February in San Diego. 3 Floors at Moscone is not a cheap venue to fill and with the declining attendance of both visitors and exhibitors spread the rumors across the market about how this event could possibly still move forward. That being said, the famous Solar Battle of the Bands will continue, make sure to keep that date in your calendar.
Norway Divesting. The Norwegian Sovereign Wealth Fund is divesting from certain oil investments, totaling $8billion out of their $1trillion pool. That makes this a big story with a little effect unless it gets copied. Moreover, this also shows some signal to the oil majors that are not divested from that their business plans better align with the mission to decarbonize.
Total Cost Of Ownership. By now you’ve heard the $93trillion price tag for the Green New Deal, a figure that sounds so absurd that even the think tank that’s credited with it is shunning it. So while Showtime’s hit show The Circus opens with dialogue of green jobs and climate change, it’s clear that the debate will be had over the total cost benefit of a policy in line with the Green New Deal.
Get Your Tickets. Register for SolarWakeup Live! on solarwakeuplive.com
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Yann
This is your SolarWakeup for March 8th, 2019
Have a great weekend! Make sure to sign up for SolarWakeup Live! and listen to the latest podcast. If you’re reading something interesting, send it over!
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Yann
This is your SolarWakeup for March 7th, 2019
Put It To A Vote. The Green New Deal resolution could make its way to the Senate floor for a vote. McConnell threatened the vote as a threat to democrats so they would have to be on the record thinking that voting for the resolution could hurt them politically. Schumer is calling his potential bluff and saying it should go tot he floor for a vote because not only does he think the democratic caucus will support it (the resolution) Schumer also thinks that republicans will be hurt by voting against it. Climate change and renewable energy are going from unknown political issue to the vote that matters in the Senate.
The Midwest Factor. Politicians from the Midwest will have to think a few times about how to play their messaging to their voters. A ’No’ vote would have to be pitched as being against the bill while still remaining in favor of renewable energy, especially wind. The Iowa caucus used to be about the ethanol pledge and it’s now turning into the support for wind energy and the PTC. That’s the upside of the Green New Deal language, it isn’t specific to the technology and drives the best path towards the local decision makers.
I Missed This Too. Part of the Bloomberg announcement was a specific goal around the Beyond Carbon campaign. That goal is the closure of all coal plants by 2030 and to transition away from oil and gas. My follow up question is about the strategy to reach that goal, is it political, financial or through regulatory changes?
The Hopeful Outlook. After the feedback from yesterday on whether SMART is smart, let’s look at the more optimistic view of the Massachusetts future. First, energy storage is going to be a giant market and MA is leading the charge. That is why I am interview the CCO of Engie Storage Marc Roper. Second, when it comes to startups in solar and clean energy there are very few people as committed to that mission as Greentown Labs and I will be joined with CEO, Emily Reichert. I’d love for you to join me at the theatre for this event, see the agenda and more at solarwakeuplive.com
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Yann
This is your SolarWakeup for March 6th, 2019
Is SMART Smart? Massachusetts has been the most prolific market for developers through SREC I and II. SMART could prove to be as successful if used correctly and developers work the various multipliers the right way. At SolarWakeup Live! I will be interviewing the person in charge of the program implementation and bring together the developers and investors looking to buy and sell projects. The event is the same amount of information gathering and networking with the people that will make you money. You can use SWLB20 as a SolarWakeup reader to lower the cost of entry at SolarWakeupLive.com
Bloomberg Is Out, In On Climate. Michael Bloomberg is not running for President, realizing the tough route to the nomination and will instead double down on the issues he feels most strongly about including climate change. Part of the plan will be to launch the campaign Beyond Carbon which is a play on the campaign he largely funded with the Sierra Club called Beyond Coal. It’s impressive how much climate change has gotten to the top of the issue list when just 2 years ago, climate change wasn’t brought up in the debates.
Coal Wants Competitive Monopoly. It’s increasingly unbelievable to watch regulators and legislators look to bail out power plants that can’t add value to ratepayers. Instead of doing whatever is best for consumers, regulators want the plants to continue operating even if it means running it as a net detriment to the ratepayers. This is in line with the legislative control the incumbent market participants still have without having support from the majority of voters or consumers regardless of political party.
Trade War Pains. Coming up on the article from yesterday where business is questioning whether the trade war has been worth it at all and today we talk about the actual cost that it has caused the Country. Between the nearly $8billion in cash that the government has had to spend to help out the farming community and the lackluster GDP we expect in this quarter, it is clearly shown that it was probably a bad idea. For solar we’ve seen the cost increase and the jobs impact from the 2018 jobs census.
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Yann
This is your SolarWakeup for March 5th, 2019
Busy week here in the Walnut Creek headquarters so some quick notes on what is on my desk right now.
The Trade War. General optimism about the tariffs being settled is making the rounds in corporate board rooms. Mostly we are looking for our long term supply chain pipelines to come back to normal and many domestic manufacturers are looking for that as well. Lead times are unsustainable right now causing lots of crunch on procurement offices.
Corporate Solar Responsibility. As DTE energy is looking to kill rooftop solar in Michigan, it strikes a renewable supply deal with GM and Ford. GM and Ford have a responsibility to make sure that their employees have access to the same type of renewable energy as they do. Using their power for their own advancement without trickling down the benefits is short sighted and hurts the effort.
The RPS One-Uppers. I’m all in for States to compete on their own versions of the RPS. Sooner, renewable or other is the type of 100% debate that helps the markets.
Nuclear Schemes. I doubt that the real truth about the Georgi & South Carolina nuclear boondoggles will ever come out but you can read between the lines here. That is why I get frustrated when renewable energy advocates get labeled as anti-nuclear. I am anti-nuclear subsidies and rule making because even when the industry has been given EVERYTHING, free insurance, free cleanup, free water and early cost recovery from ratepayers, they have failed to build anything at all. Nuclear isn’t dead because ‘environmentalists’ won, nuclear failed because of their own lack of execution.
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Yann
This is your SolarWakeup for March 4th, 2019
Community Solar Goes Mainstream. The most relevant topic going on in solar, especially in the Northeast, is community solar. The benefits are giving access to solar for renters and consumers with lower FICO scores, lowering the cost by building bigger facilities and not needing long term contracts. That is why I am bringing the experts in the field for a super sized panel to SolarWakeup Live! in Boston. Reps from CleanChoice Energy, BlueWave Capital and Ampion know the space and will share their knowledge.
Fight For PG&E’s Board. Things are warming up in the PG&E board room. While a bailout bill is being floated in Sacramento, shareholders are fighting for control of the board room. BlueMountain Capital, which owns significant stake in PG&E, has written a letter to the shareholders and plans to nominate a brand new board of directors. There are some notable names on the list which you will recognize
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Yann