The Bigger Problem. When Ohio passes a bailout bill for nuclear power plants and out of state coal plants, while gutting energy efficiency and renewable energy policies, the problem isn’t just the policy. The top 5 oil companies made over $10billion in profits last QUARTER and the investor owned utilities make billions every single year. In any given quarter, renewable energy companies can’t get anywhere near the type of profits even though they are making the product that consumers prefer. We like to say that we want a free market but this market is neither free or fair, it is broken. Solar and wind generators/developers should be making the larger share of profits or at least grow exponentially that investors can’t resist the growth potential. The system needs to be reformed in a way that moves the margin from the current products most people don’t want and brings them to the side of the equation that makes consumers happy and satisfied.
Potential Solution. Policy. The problem with renewable energy’s future is that we don’t invest anywhere near what we should in policy. How many legislative affairs pros are on retainer in DC? In Sacramento? In Tallahassee? Most solar companies view policy as something that’s nice to have and do when there is some extra cash around (forget getting execs to dole out campaign cash) but policy is always the first to go when the going gets tough. Imagine if every single solar installer in America hired a full time policy person? There would be roughly 10,000 advocates knocking on the doors of mayors, reps and Governors. Arm them with campaign cash? If we accept that the market is too slow to change and the margins are too thin, then we have to make a bet that policy is what will drive it in the right direction. Maybe folks like Tom Steyer have the right message but $100million would be better spent in the bank accounts of Vote Solar?
A Sunday Headline. Mike Allen writes a daily newsletter like SolarWakeup. The difference is that his comes out 7 days per week, is read by millions and shapes American democracy. When climate change makes his top headline on the Sunday series, I perk up and you should too.
The Media Picks It Up. The DNC is moving too slow for MSNBC and CNN and they want the ratings that come with the climate change voter. One of the questions that will be interesting to hear is in relation to Trump’s Supreme Court victory and his emergency declaration. With climate change presenting a national emergency, would you as President declare it as one on day one and what actions would you take immediately?
Congrats To $NOVA. Sunnova Energy successfully went public late last week and is trading close to the $12 mark. Congrats to the entire team for showing that a solar company from Houston can go public.
- Vox: Ohio just passed the worst energy bill of the 21st century
- Think Progress: Environmental groups vow to fight on after Supreme Court okays Trump’s border wall
- Axios: Climate change’s crucial moment
- Grist: MSNBC and CNN to host climate events for the presidential candidates
- Greentech Media: Sunnova Raises $170M in First US Solar IPO in Years
- Utility Dive: ERCOT – Wind outpaced coal on Texas grid for the first time
- Bloomberg: Tesla’s ‘Blindingly Obvious’ Bet on Solar Is Fading
Opinion
Have a great day!
Yann