The Big Tent. Developing solar has a big tent and needs to be expanded. Solar definitely has a NIMBY aspect, local communities when they are not involved in the process tend to fight against the idea. Joe Biden said this about transmission during the campaign season. We also need to be aware of the different communities that should be consulted and involved including Native American tribes. By including more groups we will find more supporters.
Climate Through Energy. Before he is sworn in, Biden is already saying that the Keystone XL permit will be canceled. If you remember, this was one of the first issues Trump took on when he came into office. This is not just an environmental statement but also a finality to the type of fuel we will need as a Country for the future. Transportation will be electric, bringing down dirty oil does not have a longterm economic certainty. The overlap between environmental impact and energy will be far and wide, providing economic opportunity for innovators and market participants like many of us.
VPP En Masse. A new player is getting a VPP contract in Hawaii. Swell energy recently raised $450million in capital from Ares and Aligned. The reality is that while VPPs are largely focused on platform owned projects will be at the benefit of individual homeowners. Storage does not need to be owned by 3rd parties for homeowners to benefit from putting their distributed resource into an aggregation, something that large players aren’t saying out loud because they are hoping for the sales pitch against individual ownership to continue.
Correction. Yesterday I said that Trump extended the 201 tariffs for modules, which was an error. The 201 tariffs for solar have been initiated for review to determine the extension by Trump but not actually extended. Apologies for the mistaken information.
Inauguration Week. On Wednesday, Joe Biden will be sworn in as the 46th President of the United States. While solar has always soared above the partisan politics of DC or States, there is an undeniable alignment between the solar industry’s and Biden administration’s goals. The Clean Energy for Biden team is hosting an inaugural ball, taking shape in a different format, that you can attend from the comfort of your home. Some of the industry’s biggest supporters and names will be in attendance, will you join? You can learn more and buy tickets here.
Calling All Peloton Riders. Like many of you stuck in quarantine, unable to get to the gym, I joined the cult of Peloton. I have been watching and riding with some friends and realized that while we are apart, this brings us together in camaraderie and competition. You may have also seen that SEIA’s CEO, Abby Hopper, is an avid Pelotoner so we figured it’s time to #Ride4Solar. Add the hashtag to your profile to network with other solar pros, other cleantechers are welcome of course. Tomorrow, we’re taking the 8am Cody Rigsby live class if you want to join live or take it later in the day. Just another way to be together! #Ride4Solar
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!
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Inauguration Week. On Wednesday, Joe Biden will be sworn in as the 46th President of the United States. While solar has always soared above the partisan politics of DC or States, there is an undeniable alignment between the solar industry’s and Biden administration’s goals. The Clean Energy for Biden team is hosting an inaugural ball, taking shape in a different format, that you can attend from the comfort of your home. Some of the industry’s biggest supporters and names will be in attendance, will you join? You can learn more and buy tickets here.
Calling All Peloton Riders. Like many of you stuck in quarantine, unable to get to the gym, I joined the cult of Peloton. I have been watching and riding with some friends and realized that while we are apart, this brings us together in camaraderie and competition. You may have also seen that SEIA’s CEO, Abby Hopper, is an avid Pelotoner so we figured it’s time to #Ride4Solar. Add the hashtag to your profile to network with other solar pros, other cleantechers are welcome of course. On Wednesday, we’re taking the 8am Cody Rigsby live class if you want to join live or take it later in the day. Just another way to be together! #Ride4Solar
Tariffs And Manufacturing. Last week Trump extended the 201 tariffs for both washers and solar panels. This is a priority issue for SEIA as the Biden administration moves into the White House. It’s a tricky issue because everyone wants domestic manufacturing and some domestic manufacturing moved to the US with the 201 tariffs protecting a price war. In some instances this actually creates an internal conflict because some manufacturers are lobbying for the 201 tariffs to remain in effect and even have the ability to control the older duties as well. Surely there is a better way to incentivize domestic manufacturing without doubling the cost of solar panels for consumers. I also would like to get a better understanding of how many people, actual people, are working inside these factories.
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!
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Welcome To The Rundown. McKinsey, a consultant to many status quo corporates, is reporting that renewables will be cheaper than fossil fuels by 2030 with green hydrogen as a big game changer for the energy transition. If you’re looking at peak usage, coal has already passed, oil will be max in 2029 and fracked methane in 2037. I’m not underestimating the importance of this report given the source and which board rooms McKinsey is in around the world.
Year Of Clean. EIA says that wind and solar will make up the majority of capacity addition in 2021, gas only participating at 16% of total capacity.
EVs And Regulators. Regulators and politicians are missing a major variable in the future of electricity. Electrification of transportation isn’t going to be limited to new Tesla owners, quite the opposite if you see General Motors putting a plug into their logo. EVs are going to be in every driveway and fleet with a major change in how much, when and where electricity is needed to fuel this sector. I will not be surprised if Governors all of a sudden call for emergency action by grid operators to ensure resilient access to energy because they failed to plan for this actuality.
The Climate Office. Biden is unveiling his climate office, though I am still waiting to see some of the names from solar I was hoping for.
Big Deal? Quietly, Tesla has launched their own inverter. A 3.8kW and 7.6kW string that looks like a miniature power wall. Have you used one?
Have A Great Weekend!
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.
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!
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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!
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Yann