Speaking Truth To Money: Fossil Fuels Are Dying Industries

By Frank Andorka, Senior Correspondent

Let’s all take a moment to give a standing ovation to Amory Lovins, co-founder and chief scientist at the Rocky Mountain Institute. On Sunday, he stood before a group of investors from around the world – who control approximately $8 trillion in assets – and told them it was time to stop investing in fossil fuels because those industries are “on their last legs.”

That’s the news from the Fiduciary Investors Symposium at Stanford University, according to an article on Top1000Funds.com. Lovins not only delivered this hard truth to the investors, but told them they’d be foolish if they didn’t invest in the coming renewable energy revolution. From the article:

The electricity industry is undergoing its biggest transformation in centuries as supply shifts to modern renewables. Renewable energy production hit 1 trillion watts of capacity three years ago, the next trillion watts will be added in just four years, pushing fossil fuels out of the market, Lovins said. He added that fossil fuels were more at risk from competition than regulation.

“In the next 4-5 years, cheaper renewables will offset growth in all fossil fuels, tipping them into decline,” he warned.

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But it wasn’t just generic renewable energy Lovins had love for – he had particularly nice things to say about the solar industry. He said the cheaper solar becomes, the more people are buying it – and he pointed to the proliferation of solar not just in the United States but in China as well. He said the world is rapidly reaching a tipping point from which oil, coal and gas will not recover (he also sees buoying trends in the electric vehicle market and foresees a day when the internal combustion engine will be relegated to the ash heap of history).

It’s not that Lovins is saying anything new or particularly radical, at least not from the standpoint of the solar industry. What is important, however, is that he is speaking to the current and future investors in the solar industry. And he’s telling them it’s time to stop clinging to the investments of the past and exhorting them to charge into the brave new future of renewable energy (and specifically, as it turns out, solar).

Money, after all, talks. And if we can get investors with $8 trillion in assets on board with the Solar Century, then the future of this industry is truly as bright as the sun.

More:

Fossil fuel on last legs: Lovins

Virginia Sets Aggressive New Solar, Wind Goals

By Frank Andorka, Senior Correspondent

Virginia is a solar state you on which you sleep at your own peril. It has long caught the eye of trend-spotters who believe it is on the verge of being the next solar boom state but, for various reasons (mostly political), it has never quite lived up to its solar potential.

This week, however, Governor Ralph Northam took steps to change the future, unveiling a plan to build nearly 5 GW of solar and wind resources. The plan sets aside 2 GW for offshore wind and sets the other 3 GW aside for solar and onshore wind. It’s not entirely clear from the plan what percentage of that 3 GW will in fact be solar.

The timeline for this development is 10 years.

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“The clean energy sector has the power to create new business opportunities, expand customer access to renewable energy, and spark the high-demand jobs of the 21st century,” said Governor Northam. “Virginia can shift to a more modern electric grid that is reliable, affordable, resilient, and environmentally responsible—and the Commonwealth can lead this critical industry as a result. This plan sets an ambitious path forward for Virginia, and I am confident we will charge ahead towards progress over the course of my administration.”

The plan builds upon implementation of the Grid Transformation and Security Act (Senate Bill 966), which Governor Northam signed into law earlier this year.

A solar revolution in Virginia has been on the horizon, coming in fits and starts as corporations like Facebook settle into the state and are starting to demand solar as part of their electricity generation. Former Governor Terry McAuliffe set the stage, signing a flurry of pro-solar bills before leaving office and launching significant state investments in solar at the state’s universities. But utilities like Dominion Energy have fought behind the scenes to slow rooftop solar development even as they invest in utility-scale solar themselves.

It should be noted that the new plan does not specify whether the development will be utility-scale or rooftop, either – so it bears watching to see how the solar revolution unfolds in Old Dominion.

Wind, Solar Join Forces In New Wind Solar Alliance

By Frank Andorka, Senior Correspondent

As wind and solar continue to grow as a percentage of U.S. electricity production, it makes sense for new groups to form to bring to bear the combined power of the industries in the political fights to come. That’s why it’s so exciting to see the formation of the Wind Solar Alliance (formerly the Wind Energy Foundation) to bring together the heavy hitters from both industries to work on mutually beneficial policy fights.

Having led national wind-solar advocacy campaigns for several years through its “A Renewable America” program, WSA saw an opportunity for increased collaboration between the two sectors, compelling the re-brand.

“There are many areas where the wind and solar agendas align,” said Abigail Ross Hopper, President and CEO of the Solar Energy Industries Association (SEIA). “We’ve seen great benefits from working with the wind advocates on federal, regional, and state policies on the “A Renewable America” campaign, and in other areas, over the past several years. We hope to continue to expand these meaningful efforts going forward, with support from the philanthropic community.”

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“Accelerating the deployment of wind and solar technologies is one of the fastest ways to mitigate climate change while strengthening the U.S. economy,” said John Kostyack, executive director of the Wind Solar Alliance. “The new name reflects our view that wind and solar industry leaders and other energy experts are stronger working together on this shared agenda than apart. Our coalition effort is now well-positioned to reform the U.S. electricity markets, as well as transmission and utility procurement planning processes, and thereby to rapidly scale these two technologies.”

Dan Shugar, NEXTracker founder and CEO, and Colin Meehan, First Solar’s Director of Regulatory and Public Affairs, join leaders from other solar-only, wind-solar, and wind-only companies on the WSA board. The American Wind Energy Association’s (AWEA) CEO, Tom Kiernan, also sits on the WSA board. Mark Alhstrom, President of the Energy Systems Integration Group and one of the nation’s leading experts on integrating renewable energy onto the electricity grid, serves as a board advisor.

The Wind Solar Alliance will continue to focus on research, communication, and advocacy to raise awareness of the benefits of renewable energy. In addition, the organization will give increased attention to addressing the need for policy changes in the Independent System Operators, Public Utility Commissions, and other venues that determine whether renewables will be given a fair opportunity to compete in the electricity marketplace.

WSA’s education and advocacy campaigns (the Grid Campaign, the Renewable Energy Jobs Tour, and Electric Nation: Powered by Wind) are supported with funds from major foundations, AWEA and SEIA, and leading wind and solar companies. The campaigns mobilize leaders from the wind and solar industries and other experts to deliver facts, data, and personalized messages to decision makers about how renewable energy is helping to improve our economy and environment.

SolarWakeup Podcast: Anthony Star, Director Of The Illinois Power Agency, Discusses The Future Of Solar In Illinois

By Yann Brandt, Managing Editor

In this episode of the Energy Wakeup podcast, we sat down with Anthony Star, director of the Illinois Power Agency, to discuss the process for developing solar under the Future Energy Jobs Act of 2016, which will increase the amount of solar produced in the state in the coming years.

Star discusses in detail the Illinois SREC procurement program, as well as what’s coming with the adjustable block grant that will inform what happens with distributed generation and community solar. He also provides background on how these developments came to be.

Listen to the whole discussion to hear Star talk about why low utility-scale SREC prices are good for community solar, how the RPS rollover timeframe could cause specific challenges moving forward and what role alternative suppliers will play in the state.