New York Incentive For Storage. NYSERDA is making things going forward and with these incentive levels, expect a lithium rush to the Empire State. ‘Retail’ projects will start with incentives of $350/kWh and larger projects will start at $110/kWh. Both create a major catalyst for the market to expand and with the pool of available capital, it should be able to last for sometime. I actually worry that the incentive is too high as battery costs are declining rapidly. In the meantime, let’s see with integrators are best positioned to serve the developer markets. My interview with Engie Storage CCO is coming soon to the podcast and catch my interview from last year with FlexGen CEO, Josh Prueher on the topic.
But We Need More. With reporting from down under, it shows that energy storage is a vital part of where we need to go. That is why you’ve seen CalSEIA and COSeia change their names to include storage, CALSSA and COSSA respectively now. The next decade will decide what the technologies of storage with be, including pumped hydro when possible. With California and New York going big on incentives to drive the markets, expect the storage sector to develop robust pipelines and drive the price down alongside the auto OEMs.
Beto Takes On Climate. The former Congressman from Texas that took the nation by storm last year during his race against Ted Cruz has outlined the first policy for his Presidential campaign. The policy is a $5 trillion climate plan that gets us to reach ‘net-zero’ by 2050. In some ways this is the ‘I have my own plan so I don’t need the green new deal, plan.’ Beto has been quiet but with 20 candidates in the primary, it’s going to take some work to stick out. In other climate news, Congressman Seth Moulton is calling for a moonshot to develop nuclear fusion technology to solve climate change.
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Yann
Weekend Rundown. Many great stories today with thoughts from me, keeping it brief but make sure to catch the stories that hit your notes. Don’t forget to subscribe to the SolarWakeup Podcast on Apple Podcast to keep up to date on the latest happenings.
PA Solar Flexes Muscles. Like in Illinois and others before it, a nuclear bailout bill makes it possible for solar and renewables to extract value from legislators. In PA, it looks like there is enough power in solar to get something done, let’s see what happens.
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Earnings Season. Tesla earnings are always interesting because they kick off the residential solar data flow that I am currently personally interested in with my day job given that I run a racking company. Tesla, without really trying, installed 47MW of solar on down from 73MW last quarter. Sunrun and Vivint Solar will be following with Q1 data shortly to see how it plays out. It has been raining in California and Q1 is historically the worst in terms of builds and backlog growth. I am also listening for input on impact from tariffs especially on racking supply given that Sunrun and Tesla both have a big investment in their own racking systems through their (long ago) acquisitions of SnapNrack and Zep accordingly. Their growth also means the growth of the overall solar market which is a market positive and enables other companies to reinvest into their own businesses. Q1 in the books and we’re rolling on Q2, let’s go!
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Yann