This is your SolarWakeup for January 14th, 2020

Wakeup Scoop. Tigo Energy, the MLPE manufacturer, has raised a new $20million from UK based Energy Growth Momentum. This is the first solar related investment for the company based on its website’s portfolio. Tigo is well known for the module level power shutoff that powered many of the module OEM smart modules and now has a plug and play option for installers/EPCs the gives them the flexibility to choose safety/monitoring/optimization or a combination. In 2020 the company also bought out previous investor, SMA, which opens the company up to being a more vendor neutral solution. The company isn’t releasing revenue or valuation but was advised by Needham in the transaction. The UK angle is interesting given the strong safety and residential focus in Europe without the SEDG/ENPH duopoly that is well known in the US, Tigo told SolarWakeup that revenue in the US and Europe markets are similar.

Biden’s Central Theme. In one of his first official interviews after being named Director of the National Economic Council, Brian Deese told Reuters that climate is going to be a central theme throughout the policies enacted by the Biden administration. This means that everything that is prioritized will be measured and improved to help fight climate change. Biden appears to be going well beyond rejoining Paris, but also understanding how trade, commerce, tax rules and regulations impact the markets that enable technology and behavior to improve our air and water quality. With executive powers held strong by the resident in the White House, this kind of thinking may be a major upside catalyst for the market we play in.

More Jobs Needed. While the pandemic didn’t crush the industry it definitely caused a large number of our professionals to have their job disrupted. 12% of the prepandemic workforce is still unemployed. Based on the SolarWakeup supporters at EnergeiaWorks and Suntuity, I assure you that looking for jobs in solar has never been better but continuing our market growth will ensure that the jobs reach everywhere in America as well. After the pandemic, I will be taking SolarWakeup on the road into the parts of the Country that may have resisted and fought against solar but now understand that an energy transition is taking place. How is solar received in rural Kentucky? Suburban Arkansas? That’s what I want to find out.

C&I Focus Continues. Another day and another C&I highlight by our friends at Madison Energy Investments. This team may have one of the biggest track records in the space so if this market is of interest to you, read this.

Market Update Continues. Join me and Phil Shen from Roth Capital next week with our usual panel of industry insiders as we talk about the solar market, now #11 in our series. The hourlong conversation and Q&A will dive into the news of right now and we’re never short of opinions or predictions. Register for the online call and I definitely recommend signing up for Phil’s solar newsletter.

SunShot (SETO) Money Deadline.  It will always be SunShot to me but the Solar Energy Technology Office at DOE is open for a $45million funding round.Find out more here

Join The Residential Solar Rocketship. Suntuity Solar is one of the fastest growing solar companies in the Country and we’re looking to hire the best to join us. Our executive team is hiring for VP of Operations, HR Director, Director of Talent and more positions at all levels of experience. If you or someone you know is looking to expand their career, send Suntuity an email!

Opinion

Best, Yann