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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Yann
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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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Showdown In Sacramento. The saga continues but let us back up for a minute. The dramatic increases in return on equity may not actually mean that is what they are looking for. Ask for a 50% increase and get 25% and the shareholders still get what they wanted. My opinion is that the reward should go to the party that takes the most risk so you cannot possibly ask for the ROE increase while also asking for indemnity. The Governor also opined yesterday, saying that “Not gonna get it . It’s jaw droppingly wrong.”
Growing Energy Load. Utilities do better when energy load increases and that is why solar has been viewed as a threat to utilities in the past. Electric vehicles are now growing like crazy and they need to be charged and as I’ve said in the past, represent the first time that utilities are in the same market as oil companies. It also provides a great factor for growth. None of this is news really but it’s no longer a future situation.
Hopkins Goes Solar. My alma mater is going bigger in solar striking a deal with Constellation Energy and a solar farm in Virginia. This will get Hopkins to two thirds of their energy consumption. I hope the other third will come through solar generated in Maryland.
More Info On VDERs. The changes in New York were a hard fought victory by many solar trade associations and there is more coverage on the issues that will grow that market. I look forward to seeing New York fulfill the future that they’ve been trying to achieve.
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Yann