Let’s Recap. The big news this week comes from Biden’s plan to get 45% solar by 2050, which means adding an average of 65GW per year over that time. That is going to require many gears to line up in sync with each other including issues like trade and training.
And Aligned Policy. With such a large goal in mind, it would behoove the administration to work with States including California where regulators and legislators are threatening to take a giant leap in the wrong direction by favoring incumbent 20th century generation over a more resilient grid.
The Right Direction. An excellent piece from WSJ at the top today highlights the things that will enable a more resilient grid. I may be biased but Kelcy Pegler, CEO of FlexGen, puts it best, “We’ve exhausted all reasonable excuses for not making our grid more intelligent.” Plus check out FlexGen’s new logo and job opportunities on the Linkedin page.
Tesla’s Vertical Integration. In the past two weeks, Tesla has announced a few different grid related strategies that show signs of complete vertical integration beyond being a hardware supplier. First was the filing to become an energy retailer in Texas, interesting for the fact that non-stationary power (in potential energy form) exists in the driveway of every Tesla car owner. I’ve always been curious as to why Tesla referred to its battery business as stationary power but for the reason that the opposite also exists. Second, Tesla appears to be building an energy trading arm which could either be a monetizing effort for the first fact or even go beyond to building out a fleet of stationary power and building the IPP. I clearly play checkers against Elon’s chess moves but I wouldn’t be shocked to see Tesla customers being a segment of this total integrated effort to monetize the energy transition.
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Helping NOLA. It’s a triple bad news sandwich. We were supposed to be able to get SPI back on track this year and almost everyone we spoke to was going to attend. Then the delta variant took a toll on the local community causing a good amount of cancellations of exhibitors and attendees. Show organizers were focused on still creating a safe event for those that wanted to get to and then Hurricane Ida came in. The issue is that everyone loses, the community doesn’t benefit from the economic stimulus a show like SPI brings to town, attendees don’t get to meet with partners and clients and the solar industry loses a vital revenue stream that is much needed for the never ending fight for policy that enables our market. Then there is the destruction of the community at the hands of the hurricane like others before that hurt the most vulnerable.
Laudato Si Continued. The Pope is not giving up his message on climate change. Since writing Laudato Is, Pope Francis has merged the message of climate change with preserving the planet and pushing for action by dominant nations. When the Pope speaks, he does so in many languages but he is also speaking to those that see him as the leader of the the catholic church. It’s the duality of the message, especially when heard by catholics that happen to be politicians as well, that stings the hardest because personal causes are in conflict with the message from the church.
The Nuclear Bailouts. Illinois is preparing a $600million bailouts for two nuclear power plants in the State. Typically these are powerful legislative vehicles that can move climate policy forward alongside the bailout, we’ve seen this in New York and New Jersey to name two.
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