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Freedom Forever Doubles 2017 Revenues And Expects Banner 2019

By Frank Andorka, Senior Correspondent

Freedom Forever, one of America’s fastest growing solar power companies, announced today that the company has doubled its revenues in 2018 from $55 million to $110 million. Freedom Forever has established itself as one of the home solar industry’s most dynamic forces – and is poised for continued growth and expansion in 2019 and beyond.

“At the core of Freedom Forever’s business model is the fundamental belief that our customers come first. Our ongoing success is a direct result of the consumer-driven, service-oriented approach we follow, which is designed to make renewable energy an attractive proposition for homeowners by maximizing their return on investment,” said Brett Bouchy, CEO of Freedom Forever. “2018 was a banner year as we cracked $100 million in revenue for the first time. As we look forward to 2019, we see continued room to grow as we bring our services to a broader market in more states, and as more homeowners become aware of both the cost-savings possible with solar energy and the role that renewables have in ultimately countering climate change.”

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Freedom Forever has been among the fastest growing energy companies in the United States with 3000% revenue growth over the last three years. So far, the company has installed solar systems on more than 10,000 homes in California, Arizona and Nevada and installed a total of 26 Megawatts of solar capacity in 2018. In November, Freedom Forever expanded operations to Colorado and looks forward to continuing to expand into several additional states in 2019.

“From the beginning, Freedom Forever has continued to show consistent and rapid growth, showcasing our ability to cultivate and maintain long-lasting relationships with our customer base through impeccable service to our clients,” said Jessica Sumikawa, Executive Vice President & Chief Legal Officer, Freedom Forever. “We are proud to be a leading force behind the increases in solar energy adoption rates and we will continue to cultivate consumer demand for home solar as we spread our green energy solutions to new regions throughout the United States.”

Report: Renewable Sources Will Power 80% Of Electricity Generation By 2050

By Frank Andorka, Senior Correspondent

According to the latest DNV-GL Energy Transition Outlook 2018: Power Supply and Use report, renewable energy will power approximately 80% of electricity generation by 2050, with the majority of that surge coming from wind and solar.

As prices for the technology continue to drop, DNV0-GL is predicting that 40% of all electricity generation will come from solar sources, while 29% will come from wind.

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What’s more, the report suggests rapid electrification will continue to become a higher percentage of energy use, reaching 45% by 2050, with particular increases occurring in the transportation, building and manufacturing sectors of the economy. It also forecasts that 50% of all new vehicles sold in Europe within the next decade will be electric vehicles (EVs), significantly increasing the need for electricity production. When you dovetail the two predictions, you can see that solar and wind production increases will shape the economic future of not just Europe but the rest of the world as well.

What that will necessitate – no matter how much free market mavens don’t want to hear this – is greater regulation. Higher use of solar and wind is going to force governments to shift how their populations use electricity through using market mechanisms and changes to the electricity market fundamentals. And governments are going to have to intervene. In parallel, market-based price signals are essential to foster innovation and develop economically efficient flexibility options.

You might think the expansion of high-capital-cost renewables and electricity networks would drive prices up, but DMV-GL predicts the exact opposite. For example, the report suggests the total cost of energy expenditure, as a share of global GDP, will fall from 5.5% to 3.1%, a drop by 44%. Absolute energy expenditure will still grow by 30% over the forecast period, to 6 Tn$/yr. DNV GL foresees a shift in costs, from operational expenditure, principally fuel, to capital expenditure. From 2030, more capital expenditures will go into electricity grids and wind and solar than into fossil-fuel projects.

Xcel Energy Wins Approval For Aggressive Renewable Growth (And Closing A Third Of Its Coal Plants)

By Frank Andorka, Senior Correspondent

Yesterday, we wrote about how utilities didn’t seem all that enthusiastic about the new rules the Trump Administration had laid out to weaken regulation on coal plants. In fact, most of the utilities discussed in the article reaffirmed their commitment to growing their renewable portfolios at varying speeds.

And today we have another real-life example of the shift that is coming in utilities’ attitudes both toward traditional coal plants and renewable energy.

Xcel Energy, Colorado’s largest utility, won approval from the Public Utilities Commission to ramp up its investments in renewable energy to to the tune of nearly 2,000 MW of solar and wind and 300 MW of battery storage.

Oh, and in the process, they’ve also pledged to close nearly one-third of their coal plants, according to an article in The Denver Post.

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As The Post notes:

As part of the plan, Xcel, Colorado’s largest electric utility, will phase out its Comanche 1 and 2 coal-fired plants in Pueblo about a decade earlier than the original target date of 2035. Xcel says the plan will invest $2.5 billion in eight counties and save customers about $213 million, thanks to the declining costs of renewable energy.

The breakdown of the renewables is as follows:

1,100 MW of wind
700 MW of solar
275 MW of battery storage

Company officials were delighted by the PUC’s decision and said they looked forward to a clean-energy future for Colorado.

“The Colorado Energy Plan Portfolio is a transformative plan that delivers on our vision of long-term, low-cost clean renewable energy for our customers, stimulating economic development in rural Colorado, and substantially reducing our carbon emissions,” Alice Jackson, Xcel Energy Colorado president, said in a written statement. “We are excited to move forward.”

Colorado has long been a renewable energy leader. It was one of the first states to experiment with community solar, and its solar and wind development has continued apace, even when policies didn’t ideally line up with the overall renewable energy goals. Now with Xcel Energy making such a large commitment, you’ll likely see other state utilities get on board, which could drive Colorado further up the list of solar-friendly states in the country. One can only hope these developments spur that kind of reaction.

More:

Colorado regulators green-light Xcel’s plan boosting renewables, cutting coal

Suncommon’s Expansion Plans Get Boost From New Credit Facility

By Frank Andorka, Senior Correspondent

As the solar industry has continued to grow, it’s easy to forget that Burlington, Vermont, was the first city in the United States to go 100% solar. The Green Mountain State has quietly grown its solar industry somewhat below the radar, but there are signs that it’s beginning to mature as a market.

One such indication is that Vermont-based Suncommon, a residential solar installer, just recently received a credit facility to fund its expansion into the Hudson Valley from Citizens Bank. Earlier this year, Suncommon acquired New York-based Hudson Solar and plans to use the money to expand its operations into New York state.

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Vermont has a long history of environmentally friendly activism and passion, and the growth of its solar industry – and the expansion of its companies into other states – prove that the environmentalist heart of the state continues to beat strongly. But it is also indicative of two other important trends.

First, it proves the solar industry is bicoastal. While everyone focuses on states like California, Arizona, New Mexico and the like, a strong, vibrant and healthy solar industry is taking root in the Northeast, too. Secondly, no matter what coast the solar revolution is happening on, it’s the smaller states like Vermont where the most interest should be focused. States like California, New York, Arizona and Massachusetts are already well into the solar revolution and are, naturally, setting the curve.

But it’s in states like Vermont and Wyoming, where the state’s first major solar installation is about to happen in the real hear of U.S. coal country, where the revolution is the most remarkable. As those markets begin to mature and money starts to flow into those states, that’s when we’ll know the solar revolution has finally taken hold and won’t be shaken. Suncommon’s ability to get funding for its expansion is one more positive sign that we are rapidly moving toward that day.