This is your SolarWakeup for August 8th, 2022
Historic Day For Climate. There is little doubt at this point that more legislation benefitting our industries has passed in the past year than in all of history combined. Getting back to the 30% ITC, standalong tax credit for storage, clean energy manufacturing, direct pay for those that need it, use of PTC for solar if desired and even more for local content. With the Senate passing the Inflation Reduction Act yesterday afternoon, these things are well on their way to you.
What’s Next? The House is poised to return from recess to vote on the IRA on Friday, sending the bill to President Biden for his signature.
A Decade Of Prosperity. The trillion dollar opportunity to build within a stable market is ahead for the solar and storage markets. We will focus on radical deployment of assets powering the energy transition that is electrification. In the next 8 years, you’ll see a majority of new vehicles, commercial and consumer, become electrified which will mean the need for a more resilient and intelligent grid. The ITC has been in place for nearly 2 decades causing a 90% reduction in the cost of solar to most and storage has already become one of the best investment asset classes in America, both with contracted and merchant revenue channels.
A Note On Storage ITC. The storage market today is still maturing, early days some would say. Many have not used tax equity in their projects because most projects do not have solar installed alongside their batteries. As many of you know, I have the great fortune to be the CFO of FlexGen, the leading storage integrator and software platform in the market. Over the next few months, we’ll work to educate the market on how to leverage the ITC with great bankable solutions, host visitors to our research lab in Durham and make sure that early days means happy asset owners, investors and tax equity providers.
Faster PPA Docs. Energy Toolbase has launched its newest financing integration partner, Sustainable Capital Finance (SCF), on the ETB Developer platform. This partnership enables ETB Developer users to instantly generate Power Purchase Agreements (PPA) financing quotes for commercial and industrial (C&I) and non-profit solar + storage projects without leaving the platform through SCF’s industry-leading PPA solution. Click here to learn more about this exciting partnership during a free, informative webinar on August 10th, 11am PST.
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Yann
This is your SolarWakeup for August 5th, 2022
A New SCF Launch. Energy Toolbase has launched its newest financing integration partner, Sustainable Capital Finance (SCF), on the ETB Developer platform. This partnership enables ETB Developer users to instantly generate Power Purchase Agreements (PPA) financing quotes for commercial and industrial (C&I) and non-profit solar + storage projects without leaving the platform through SCF’s industry-leading PPA solution. Click here to learn more about this exciting partnership during a free, informative webinar on August 10th, 11am PST.
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Yann
This is your SolarWakeup for August 4th, 2022
Faster PPA Docs. Energy Toolbase has launched its newest financing integration partner, Sustainable Capital Finance (SCF), on the ETB Developer platform. This partnership enables ETB Developer users to instantly generate Power Purchase Agreements (PPA) financing quotes for commercial and industrial (C&I) and non-profit solar + storage projects without leaving the platform through SCF’s industry-leading PPA solution. Click here to learn more about this exciting partnership during a free, informative webinar on August 10th, 11am PST.
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Yann
This is your SolarWakeup for August 3rd, 2022
Faster PPA Docs. Energy Toolbase has launched its newest financing integration partner, Sustainable Capital Finance (SCF), on the ETB Developer platform. This partnership enables ETB Developer users to instantly generate Power Purchase Agreements (PPA) financing quotes for commercial and industrial (C&I) and non-profit solar + storage projects without leaving the platform through SCF’s industry-leading PPA solution. Click here to learn more about this exciting partnership during a free, informative webinar on August 10th, 11am PST.
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Yann
This is your SolarWakeup for August 2nd, 2022
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Yann
This is your SolarWakeup for August 1st, 2022
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This is your SolarWakeup for July 29th, 2022
Message From Abby Hopper, CEO of SEIA. What a long strange trip its been (and continues to be). After dealing with WRO seizures, section 201 extensions, and the Auxin circumvention petition, my heart nearly broke two weeks ago when Senator Manchin announced he was not going to vote for any of the climate provisions in the reconciliation package. Yet after a few days of stunned disbelief and lots of personal soul searching, my team and I came up with a plan. We were not going to accept defeat. It simply was not an option; there was too much at stake for our industry, our country, and our planet. With the full support of our Board, SEIA and our member companies doubled down on our advocacy efforts.
We formed alliances with organizations such as the International Brotherhood of Electrical Workers, our companies wrote, called and visited members of Congress urging them to stay at the bargaining table, and we turned over every last leaf in an advocacy campaign to ensure that we were heard.
And now that there appears to be a deal between Senators Manchin and Schumer, we aren’t taking anything for granted. We still have to get the legislation through the full Senate and the House and to President Biden’s desk.
If we and our partners in the clean energy community are successful, this legislation will lead to significant deployment in all sectors of the solar and storage industry and it will be a significant step in our collective effort to tackle the climate crisis.
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Yann
This is your SolarWakeup for July 28th, 2022
Secret Plan To Fight Inflation. It has long been known that every White House has a secret plan to fight inflation. Last night, as most of you are now aware, The Senate came to an agreement with Senator Manchin, with Sinema expected to be on board, on the Inflation Reduction Act of 2022. This $360billion bill is expected to pass through reconciliation on a party line vote. It represents the boldest move to fund the energy transition and to fight climate change, bill language is still in draft but currently includes a 10-year ITC extension with 30% (6% plus adders) and a standalone credit for energy storage. There are many more aspects to this bill that will be recapped by media shortly. Here is the one-pager and here is the full text. More to come throughout the day.
What It Means. The solar market already knows how to work around tax equity and will continue to do so, a ten year extension for your partnership with your tax lawyers and appraisers. Energy storage comes from a different capital background, merchant and equity, and will have to get up to speed on using the tax credit. It means that long term bankability, capability and experience of the platform you build your storage projects on will become front and center, software integration becomes crucial consideration for asset owners.
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Yann
This is your SolarWakeup for July 27th, 2022
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Yann
This is your SolarWakeup for July 26th, 2022
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Yann