Bipartisan ITC Bill Filed. A 5-year extension of the ITC was filed yesterday, in the Senate as well as the House of Representatives. 3 Congressman, two of whom are republicans, and Senator Cortez-Masto of Nevada filed the legislation that would change the sunset start from 2020 to 2025. The bipartisan nature of the bill in the House shows that there is traction for the standalone bill to be moved by the Speaker with sufficient votes. Policy advocates will have to get creative in the Senate where bipartisanship has been locked in the basement. However, the ITC has long benefited from bipartisan support in the Senate and with the right effort on our end, we will be successful.
Stay Here For ITC Forecast. Last Thursday I highlighted our success in working together. Alongside SEIA and other groups, the SolarWakeup group came out in force and sent a strong letter to Congress. Here was my prediction, “If my statement above is correct, I hope to see some action from Congress next week including potentially some legislation. Watch this space…” So keep watching this space for the next steps and actions you need to take on.
A Strong Message, Made East. I ️ MY
️ (I Love My Solar) is a new organizing effort brought to you by Vote Solar and Solar United Neighbors. The platform allows you and your customers to upload pictures of solar with people and send a printed postcard to members of Congress. Customize it to your message and everything is taken care of for you including the cost. Get your customers to do this right now, even those that already went solar. The link is itc.ilovemy.solar
Congressional Recess. Over the next month, your Representatives will be home for the August recess. Many of them will hold town halls and make themselves visible in the district. This is a great time to reach out, schedule a meeting or try to go and speak with them at a public event. Let them know what the ITC means to you and your employees in person and you will show the impact that the ITC has had in their district. Some members are secretive about their calendar so call their office and ask if they are hosting public events.
Solar Means Business. The corporate solar leaderboard is out and Apple is on top. Maybe next year we will see the first GW scale corporate?
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Yann
The Answer. Some of you got the answer, Karla Loeb, from our trivia yesterday. Karla is the Chief Policy & Development Officer at Sigora Solar and the force behind some of the highlights that gave the company the forward-thinking installer award. Way to go Karla!
A WTO Look At Tariffs. In the exciting halls of the WTO, China has been attempting to work through the 2018 201 tariffs. While this is not the most likely way that the tariffs get resolved, there is a potential for the tariff to be reviewed by a panel after China escalated the complaint. The panel could require the US to rework the tariffs if they are found to be out of order. Don’t hold your breath!
Tesla’s Earnings. Tesla’s solar (formerly SolarCity) is still reducing the amount of solar it is installing, putting 29MW on the roof last quarter. This is still almost 2.5MW per week which is an impressive amount when compared to other installers. With mainstream media highlighting the balance sheet impact by solar assets, I would presume that the company may sell the projects or equity stake in the portfolio in the near future.
Power-One Gets Second Look. After initial headlines that ABB was getting out of the solar business, ABB announced that the inverter business was going to be taken over by Fimer. The Italian company is already in the inverter business but does not have exposure to the US market. ABB will hold the warranty costs through 2025 as part of the deal.
Storage Pod. With the sound levels fixed, you can go to the SolarWakeup Live! Podcast page and check out the latest interview between Marc Roper of Engie Storage and myself. Marc was in solar for a long time and is not developing and investing in storage projects under the Engie Storage umbrella. We spoke about some of the options available to him and how they partner with solar developers that want storage but lack some of the expertise and specific capital.
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Yann
Solar Pop Quiz. Who is the solar star that was made infamous chanting ‘equal pay’ during the US Women’s National Team Championship match? Take a peak at the video and send your guesses, answer tomorrow. Hint: it’s great to see advocates preach the message of equality, diversity and access whether they are in the State Capitol or at a soccer final.
The ITC Path. Keep your eyes on the workshops and messaging emails you are getting from SEIA and State Chapters. Make sure to reach out to your member of Congress and leave a message with their office about what the ITC means to your business. You will also read so called analysts and folks with ‘inside’ knowledge temper your expectations. These are the same people that said the same exact thing in 2015 and 2016 while all of you reading SolarWakeup saw how it played out. Keep your eye on the prize and make your calls, we’re winning and well on our way to an ITC extension.
Saying It Out Loud. Ohio legislators aren’t hiding the quiet facts anymore. The nuclear bailout bill passed the legislature yesterday that guts any semblance of energy efficiency and clean energy policy in Ohio to fund bankrupt nuclear power plants. The irony is that by the time clean energy advocates sent out a press release asking the Governor to veto the bill, Governor DeWine signed the bill. It took Governor Jerry Brown of California almost a month to sign the landmark SB100 policy putting California on a path to 100% clean energy, DeWine didn’t wait for the ink to dry on HB6.
Part 2. It’s long been rumored that a Florida IOU was playing the cards to acquire Jacksonville Electric, read the article and you’ll see the roadmap.
The 500. What has become one of the best lists in solar, Solar Power World magazine is out with the Top Solar Contractors List. You’ll see who’s who in markets and States as well as those companies that are stepping out to do special things. One example is the fast growing company out of Charlottesville, Virginia, which I had the chance to visit at last year’s TomTom Festival, Sigora Solar. Sigora Solar was crowned the forward thinking solar installer thanks to their work on diversity and inclusion as well as their work to pass low income financing legislation in Virginia. Congrats to all the winners!
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Yann
Another DG Deal. Days after a major DG acquisition, AltaGas is selling its 313MW portfolio to TerraForm. TerraForm is buying the diverse portfolio for $720million from the Canadian firm. The surprise for me was AltaGas having amassed that large of a C&I portfolio and I can’t recall them being active in development market. This goes to show that there is still quite a disconnect between potential owners/investors in C&I projects and those that are trying to put those deals together.
Texas Solar Growth. 8minute Solar is in the market with the sale of a 200MW project in Texas. Texas is quickly becoming the lowest cost of solar market for utility scale project and as long as the interconnection process continues while allowing synthetic energy products to be written by traders, development and investment will occur. Let’s hope that the ITC extension will keep that edge market going.
A Market Statement. Over the past few years, NextEra’s conference calls have been the canary in the coal mine when it comes to the view of the ‘market’. It started with coal will have a hard time competing with gas and solar with storage will make it hard for gas to find a home. Now the statement of 50% renewables by 2030 makes quite the splash because that is in line with some of the Green New Deal goals.
The NY Storage Market Starts. Different technology and the same fight. Who should own energy resources and while many utilities keep showing that they only care about the return to their shareholders by investing as much as possible, the market should reject this notion and let the competitive markets do their jobs. New Yorkers should embrace the ability of developers, property owners and energy users to make their own decisions. More on this topic is a podcast interview with the CCO of Engie Storage which drops today at 10am Pacific. Make sure you are subscribed to hear it first.
Asking FERC. Amy Harder spoke with all four commissioners at FERC. Some of the feedback is telling and some of it may be for the audience at 1600 Penn.
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Yann