Focus On The Short Term. There is much talk about the 2020 election and how climate policy could possibly pass through congress. All of this is presuming certain results and solar has short term goals. Congressional action should be focused on two short term issues, ITC and tariffs. This all comes ahead of Joe Biden’s climate plan unveiling which many believe will focus on restarting the Obama policies with some likely progressive additions.
Banking, Financing and Retirements. Interesting things are happening in otherwise uninteresting areas. A major French bank is backing out of lucrative business lines because of their climate impact. While BNP is using climate as a reason to pull financing for a coal dependent utility, they are also saying that it is potentially bad business to invest in long term. In Colorado, a small retailer has offered to buy 3 coal plants, close them and provide the cooperative with mostly renewable energy under a PPA. Consider it an innovative way to lock in a contract. They were rejected however. In other States, utilities are offering securitizations of rate base revenues to finance the retirement of coal plants.
Policy Through Other Means. An Iowa solar developer won a PPA with a municipality in Wisconsin and was denied the interconnection by We Energies. Going back to the often used, if you own a 3rd party solar contract you are a regulated utility playbook, We stopped the City from getting what it wanted. Now it will go to the courts after the developer sued the PSC commissioners and the utility to try and get a different interpretation of the rules.
No Coal In UK. It has been 11 days that the UK has been running coal free, not bad for an island utility. Also, big congratulations to a friend of solar, Jonathan Silver, for having joined the board of National Grid.
Making Software Free. Sungevity co-founder, Andrew Birch, whom you recall from my conversation on the start of the solarAPP start last summer is out with his new venture. OpenSolar, which is a free end to end software for solar installers. Check it out at opensolar.com
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Change Demand, Not Supply. A new report is out that shows that homes with electric vehicles increase the value of their rooftop solar. This shift in consumer behavior and locking more load with generation means that we are going to want and need every home and business to put solar on their roofs. This also goes to the new focus on electrification of everything in the home with a way for consumers to shape their demand for electricity. Cars can already charge based on a utility schedule but next will be the washer and dryer amongst other home appliances.
Transportation Market Not Decided. China is definitely in the lead with electric cars and buses, their regulatory environment allows the massive scale to happen overnight. The US is lagging with deployment but I don’t think that’s been lost. More importantly while consumers have little problem using solar panels made in China, I don’t think that the same will be true for planes, trains or buses. BYD is trying to be the exception to that and is setting up shop in the US but Proterra is still moving into the growth direction.
Don’t Land On Park Place. A monopoly is hard to beat and break up. Boulder is proof that just because voters and the city council want their own utility, it doesn’t mean that it shall become reality. A reset means that the voters will have to decide if they try again in the future and in the meantime this is a signal to any other municipality that thinks about following down the same path.
Corporate Climate Dialogue. The CEO Climate Dialogue is a group of Fortune 500 CEOs that are advocating for market principled climate policies. Their call to action includes several key metrics for policies that include equity amongst others. The next step would be to get the Chamber of Commerce to make a statement of support before the Senate plan for innovation (which would focus on nuclear and carbon capture) plan takes the climate policy dialogue in the wrong direction. Another player in the climate policy arena is a good complement to the others elevating the topic.
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Busy week at Quick Mount HQ so quick tidbits today.
South Carolina. Governor McMaster signed the compromise bill years in the making. Great to see some solar friends standing front and center. Congrats to the few that did the work for the many! (Pay your trade association dues folks!)
Tax Credits In Play. The Senate, seeing the light coming from that strong House letter, is putting the start of tax credit reform on the table including a longer glide path (read extension) on the table. There was some quick and strong work done in the background and trade groups did a great job responding forcefully to the House letter backing the legislators with the industry support they needed. The folks at SEIA deserve special praise for their leadership here from staff, executives and the board!
Innovation. Too late to be the primary driver. Even innovation requires commercialization and derisking that takes too long.
A Job With Reward. Join Vote Solar as the Interior West Senior Director. If you are good at your job, no doubt you will be, you will be able to say to your grandkids, friends and/or family that you did an amazing job fighting climate change. Apply today, full job description here.
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