A Nevada update. I spoke with Assembly Brooks yesterday to get an update on solar policy in Nevada. He is the sponsor of and in the middle of the 3 key bills that are in play. AB 206, AB 270 and AB 405. Here are the takeaways:
– AB206 is an increase of the RPS to 50% as discussed on the podcast
– AB270 is return of net metering establishing a rate formula, removing the cap and minimum bill
– AB405 is related to consumer protections and solar bill of rights
– The bills have been granted a waiver, which means they are released from certain deadlines. This takes coordination and support from the leaders of the Assembly and Senate. This is a positive.
– AB270 (NEM) and AB405 are essentially tied together, it will likely mean both pass or fail
– The Governor has not commented on the bill which is not uncommon for him but he has been vocal when he does not like a bill, which could mean that he will likely not veto the bill if it passes.
– NV Energy has been lobbying against the bills and the Gaming and Resort Association has come out against it as well. GRA is more surprising given that the casinos have been vocal advocate to leave the IOU for more access to RE.
– Assemblyman Brooks is optimistic that all three bills will pass
Taking podcast inventory. If you haven’t yet, I would ask for your feedback about the EnergyWakeup podcast. You can see all the episodes on this page which include interviews with Google about their procurement of renewable energy, getting the insight from legislators on pending changes to State rules and hearing from SEIA and affiliated State chapters. In the coming weeks you will hear from entrepreneurs working on software to lower solar soft costs and more State leaders. We’ve got requests out to some big names, so the more you listen, rate and review, the more helpful it is for us.
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Unfortunate news from Georgia. Suniva has filed for bankruptcy protection. The company was acquired by Shunfeng last year, which also owns Suntech. Module prices have plummeted recently, bids coming in at the low 30s which makes it very difficult for high efficiency modules that have to sell at a premium. Just look at Sunpower’s issues to see some of the similarities, except Suniva never entered the project business. I’m sure a turnaround is going to happen, let’s watch this space.
Make sure you listen to the latest episodes of EnergyWakeup. I speak with Tony Clifford about being acquired by Gaz Metro and his work at SEIA. Google is now at 100% renewables, how do they do it and what is next? Sam Arons talks to SolarWakeup.
Acquirer for Sungevity. Northern Pacific Group has received approval from the courts to acquire the Sungevity assets for $50million in addition to taking over the liabilities and assets. Expect the assets to be liquidated quickly to recapitalize the business. Good news for the company and the employees that received their unpaid wages. Making bad situations right is important, glad to see this going into the right direction. Now, does anyone know anything about Northern Pacific that would like to give me some background?
- EnergyWakeup: Podcasts with Google, Legislators, SEIA Leaders and Executives with insights you need
- PV-Magazine: Suniva files for chapter 11 bankruptcy
- San Jose Mercury News: Sungevity gets approval to sell itself
- Greentech Media: A Rough Start, Possible Reforms for California’s Community Solar Program
- GreenBiz: Could EVs put the brakes on the utility ‘death spiral’?
- Washington Post: Rick Perry asked for a boring, wonky study of the grid. Even that was controversial.
- Business Journals: Solar industry disputes Duke Energy’s $1B overpayment claim
- Motley Fool: Solar Shake-Up – Why More Bankruptcies Are Coming in 2017
Have a great day!