This is your SolarWakeup for July 29th, 2019

The Bigger Problem. When Ohio passes a bailout bill for nuclear power plants and out of state coal plants, while gutting energy efficiency and renewable energy policies, the problem isn’t just the policy. The top 5 oil companies made over $10billion in profits last QUARTER and the investor owned utilities make billions every single year. In any given quarter, renewable energy companies can’t get anywhere near the type of profits even though they are making the product that consumers prefer. We like to say that we want a free market but this market is neither free or fair, it is broken. Solar and wind generators/developers should be making the larger share of profits or at least grow exponentially that investors can’t resist the growth potential. The system needs to be reformed in a way that moves the margin from the current products most people don’t want and brings them to the side of the equation that makes consumers happy and satisfied. 
Potential Solution. Policy. The problem with renewable energy’s future is that we don’t invest anywhere near what we should in policy. How many legislative affairs pros are on retainer in DC? In Sacramento? In Tallahassee? Most solar companies view policy as something that’s nice to have and do when there is some extra cash around (forget getting execs to dole out campaign cash) but policy is always the first to go when the going gets tough. Imagine if every single solar installer in America hired a full time policy person? There would be roughly 10,000 advocates knocking on the doors of mayors, reps and Governors. Arm them with campaign cash? If we accept that the market is too slow to change and the margins are too thin, then we have to make a bet that policy is what will drive it in the right direction. Maybe folks like Tom Steyer have the right message but $100million would be better spent in the bank accounts of Vote Solar? 
A Sunday Headline. Mike Allen writes a daily newsletter like SolarWakeup. The difference is that his comes out 7 days per week, is read by millions and shapes American democracy. When climate change makes his top headline on the Sunday series, I perk up and you should too. 
The Media Picks It Up. The DNC is moving too slow for MSNBC and CNN and they want the ratings that come with the climate change voter. One of the questions that will be interesting to hear is in relation to Trump’s Supreme Court victory and his emergency declaration. With climate change presenting a national emergency, would you as President declare it as one on day one and what actions would you take immediately?
Congrats To $NOVA. Sunnova Energy successfully went public late last week and is trading close to the $12 mark. Congrats to the entire team for showing that a solar company from Houston can go public. 

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Yann

This is your SolarWakeup for July 26th, 2019

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

This is your SolarWakeup for July 25th, 2019

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

This is your SolarWakeup for July 24th, 2019

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

This is your SolarWakeup for July 23rd, 2019

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

This is your SolarWakeup for July 22nd, 2019

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Yann

This is your SolarWakeup for July 19th, 2019

Friday Rundown. Have a great weekend!
CleanCapital Grows. Doing big deals and growing larger which each one. 
Florida Consumers. Want more solar and are writing letters to the editor. 
A NY GND. Cuomo signs an offshore wind deal and enacts major climate legislation. 
Power Plants You Can’t See. Sunrun wins another virtual deal with a local CCA in the East Bay. This space will get big fast. 
Vote Solar Pod. My interview with Vote Solar’s Nathan Phelps is live, check it out and review it!

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Yann

This is your SolarWakeup for July 18th, 2019

We Are Powerful. In less than a week, 1,000 companies signed a letter to Congress. Don’t underestimate what that means to politicians. Those 1,000 companies could send tens of thousands of emails to employees creating action and members recognize that. Give yourself a pat on the back and be ready to do it again, again and again. Send a tweet or Linkedin post that includes #SolarWakeup #DefendTheITC and spread the word!
The Next Steps. If my statement above is correct, I hope to see some action from Congress next week including potentially some legislation. Watch this space…
Fort Lauderdale’s Finest. Ben Geman of Axios looks at the late Chief Justice’s climate record. Justice Stevens and I shared a home town as he spent time in Fort Lauderdale. It was always intriguing to get your ice tea as a former Chief Justice is sitting at a table nearby at the golf course. 
GE Bows Out. Selling 80% of the company formerly known as GE Solar to Blackrock means that GE is basically done with solar. The company has been renamed and will focus on distributed solar. 

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Yann

This is your SolarWakeup for July 17th, 2019

Great ITC News. Last week I asked for your help and you came through. Almost 1,000 solar companies signed on to an important letter showing that we, as an industry, support the ITC. Here is the complete list in case you are interested. More importantly, this is sending a huge message to members of Congress and our advocates will be able to leverage this. Get your marketing teams to send out a message to your representative and on your social media using the #DefendtheITC hashtag. 
More Info On 201. Yesterday I spoke with SEIA about the letter I described about the meeting at with the Deputy US Trade Representative. The next event in the 201 process was a mid term review of the original tariff where the parties come together to lobby for changes, reductions or eliminations of the original impact. Trump has broad authority during this process to make other changes as well, which could include changes to exclusions. 201 is a seldom used trade tool and not all processes are clear to the participants but the common thought is that the mid term review sets up the next lobbying effort. 
A Pod On SMART Solar. In this episode I speak with Michael Judge of the MA DOER about the SMART implementation. We talk about the issues that the program needs to resolve and where there have been successes. If you are active in the MA market, don’t miss this episode and while you are at it, leave a 5 star review!
Road Less Traveled, Won’t Travel. LADWP is on its way to get off coal. By 2025, the municipal power department will close the only remaining coal plant which sits in Utah and buy the output of a newly built natural gas plant. Not only is that a ridiculous financial move, I know for a fact that solar with storage would be faster and cheaper to replace this generation within existing LADWP transmission. For a City that touts the need for climate progress, the utility department still moves to the beat of the 1990’s. 

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Yann

This is your SolarWakeup for July 16th, 2019

201 Plaintiffs Strike Again. On June 21st, executives from First Solar, Suniva and Q-Cells met with the Deputy Trade Representative to fight back against the 201 tariff exclusion for bi-facial modules. The fact that Suniva is still actively undermining the solar industry is incredibly frustrating. First Solar has a great product with Series 6 and should let its product do its talking instead of trying for a regulatory band aid. The claim is that wall street’s bullish outlook on the exclusion shows that this is an undue advantage for bi-facial manufacturers, a technology that none of the three plaintiffs are showing on their product websites. If you have more information on this, go ahead and send it to me confidentially by hitting reply. 
Impact If Successful. This impacts utility-scale solar since that is where the bi-facial market is largely focused. Companies like NEXTracker have been hyping the benefits of bi-facial on trackers for over a year and the exclusion gave some lift to the more expensive technology. The meeting was held to ask for the exclusion to be rescinded or place a 500MW quote on the exclusion. If either of those is granted, it will likely depress the market once more creating greater urgency on extending the ITC. What is clear is that the plaintiffs have no regard to the crisis caused by climate change, this is pure financial motive. 
Bill Gates’s Nuclear Concerns. Bill Gates is concerned that an advanced nuclear technology that he is invested in will not find a home for its demonstration project. Originally slated for China, Gates hopes that this technology will be given a chance in the US. Gates is outspoken about the need for advanced nuclear research and development to create a carbon-free future and in this case, is putting his money where his mouth is. 
Sunnova’s Raise. The initial offering hopes to sell north of 17million shares between $16 and $18 with the upper range providing $365million in the raise. I think this is a good time to go out with installers giving a very positive outlook to the residential market and Sunrun (similar but different) doing well in the public markets.

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Yann