Closing A Deal. As COP26 comes up quickly, Joe Biden is looking to close a deal as opposed to THE deal he may have been hoping for. In a game of whackamole, the President is having to negotiate 50 separate deals and can’t afford to lose a single vote, threatening one on the left for every notch he gives to the moderates.
Conservation Of Energy, The Delivery Can Change. The headlines, as oil and gas CEOs come to DC, is that fuel companies are in denial. That may not be false, but sometimes lost in the summary is what is really happening to the market. We all learned about conservation of energy in physics class so let’s translate that concept to the energy transition within transportation and homes. Energy will still be consumed to drive or cook you meal, the method of delivery is changing from fuel to electrons. The power availability will remain the same and possibly the only thing changing is the location of the fuel need, i.e. from a gas stove to a gas power plant. So take a step back and realize that while the fuel mix in generation is changing, it’s a unique change from the bigger transition happening in how that energy is being delivered. That’s the transition that is creating a new grid that is far more dynamic, complex and constantly expanding and contracting.
Getting To Glasgow. Not since Paris has a COP been this hyped up in importance. The outcome be could maintain the global focus on fighting climate change and how to adapt to the evolving market opportunity.
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A Delaware Meeting To Close The Deal? Senators Manchin and Schumer went to visit Biden in Delaware this weekend to see if the deal can be closed on the budget reconciliation bill. Manchin has been hard on both the price tag and climate heavy nature of the policy sections, i.e. the carbon tax and clean energy standard. Biden, as a lifelong member of the Senate, may have the hand to play to get this done and while not getting everything, advancing many of the administrations key policies. Pelosi said yesterday that she expects to ‘be there’ and have a vote by the end of the week.
What It Means. For the solar industry the most tangible policy is the potential 10 year extension of the ITC as well as getting it back to the 30% level. Some adders could be included for domestic content as well as stand alone energy storage.
SEIA Board Election. SEIA Board of Directors elections are happening now and I’m always excited to point out friends that reach out that I think have done and will continue to do a great job representing the industry at the board level. Particularly, I’d like you to support Karla Loeb from Sigora Solar. Karla has been a leader in the industry for years and she’s running for the DG Committee Chair. Thank you for voting for her!
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