This is your SolarWakeup for December 6th, 2017

Everyone Is In DC, Except. Rick Perry. He’s got his toes in the dunes, butt in the sand while touring Saudi Arabia on his America First Energy tour of the Middle East. As American solar workers are traveling to DC to rally in front of the USTR hearings, which could only accommodate about 100 people, Rick Perry is as far away as possible. If you can’t be in DC tomorrow, make a call to your Congressman/woman and ask them to help with the trade case. It will take a few minutes of your day and make a big impact.

America First Solar Plan. Yesterday morning, in a press conference held in DC, SEIA unveiled its America First Solar Energy Plan. SEIA CEO Hopper highlighted the fundamental risk of tariffs, more solar manufacturing jobs in the US will be lost than gained. Also speaking was the President of renewables at Swinerton and a Sunrun employee who served 5 years in the US Army and is now a disabled combat veteran. SEIA also secured additional messages signed by members of the Senate and House to be forwarded to the US Trade Representative ahead of the hearing later today.

Add Tax Reform. I will be joined by experienced tax and project finance lawyers tomorrow during SolarWakeup Live! in DC to talk about the potential impacts of the tax reform bill currently in conference. The goal is to turn this content around quickly and get it published for you to review. If you have thoughts on good content you want to hear about during our New York event, please send me a note.

A Rigged Game?  No surprise here in my opinion but Suniva met with the US Trade Rep office before filing the 201 petition. This seems like they met with the jury before filing a lawsuit. Going from a bad business to bankrupt to corrupt financial engineering in hopes of destroying the solar industry was just another day in the Suniva board room I guess, but that’s just what it seems like from where I sit.

Obama Goes Local. At a climate summit in Chicago, President Obama (come back, we miss you) praised and pushed Mayors to lead the fight on climate change. In Florida, a mayor is running for Governor and a big part of the platform is climate change. Glad to see Obama taking this issue on and lending his platform to Mayors.

SEIA Elected Seats. The SEIA Board has approved the election and notified the winning candidates for the elected seats which complement the board seats gained through membership level. These 5 seats are elected by the membership and is your opportunity to ask folks to carry your issue to the board at SEIA.

Presented By Standard Solar. With access to $300 million in low-cost project capital, Standard Solar delivers superior solar projects—from start to finish. From development and engineering to construction and maintenance our extensive team of experts guide our partners through each step of the solar-project process.”

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Yann

This is your SolarWakeup for December 5th, 2017

Monday Flights To DC. I sat down in my seat to be surprised to have a member of congress sitting across the aisle from me. As we started our descent, I introduced myself to the Representative as working in solar. Right away, “Why do utilities in Florida make it so hard to go solar? The prices really dropped so much, I should look at it again. The Florida PSC is totally owned by the utilities.” As I explained that solar is making small advances, I brought up the tax reform issue and the 201 case. “We shouldn’t be increasing the price of solar, we should be incentivizing people to do more of it.” The member is a Republican. Solar needs to do a better job educating members, so we need to go back to discussing the idea from last month where everyone spends 10 hours a month on political outreach and education.

Conference Committee. Last night, the House voted to send the bill to conference committee which starts the next step in the process of reconciliation between the House and Senate versions. This is where a lot of the lobbying gets done once again, once the conference agrees there are likely to be no changes. If solar is looking to stop provisions like BEAT from becoming law, this is the point where it would happen.

Coal Tax Credit Request. Coming out of nowhere, in addition to the FERC NOPR process, the coal lobby is seeking a tax credit to the tune of over $60billion over the next ten years. The hypocrisy is thick on this one and it’s a topic I will be covering with Amy Harder on Wednesday at SolarWakeup Live!

Choice For TVA Customers. Solar is an underused political issue. A recent poll of 600 Tennessee residents showed overwhelming support for more solar. All three questions below came back in the mid 80% approval range including when residents were asked if they would use solar in their homes if offered at the same price, whether Tennessee should use more solar and letting their local power company buy solar from generators. All of this while TVA, a public entity, prohibits the use of power purchase agreements. I’d like to see this used by campaign staff in the upcoming elections.

New Tax Equity. Listen to the latest podcast from SolarWakeup and my discussion with SunWealth CEO, Jon Abe. In part of the discussion I ask him about his capital sourcing from tax equity investors. If you are worried about the tax reform bill, you may want to arm yourself with information on how to diversify the tax equity pool of capital.

Presented By True Green Capital.  Our current partnership, Fund III, is actively seeking investment opportunities and channel partners to deploy capital in a scalable focused on DG and small scale projects.  Fund III has ~$350million in equity commitments to build out a ~$1billion solar portfolio.

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Yann

This is your SolarWakeup for December 4th, 2017

Another DC Week. I will be heading to DC this morning for a week of solar activities culminating in SolarWakeup Live! on Wednesday which is occurring at the same time as the solar rally in front of the US Trade Representative hearing on the 201 case. Of course the conversation about tax reform supplements the 201 process that is ongoing. At Live! we will talk about much of this with Amy Harder, Rep. Gonzalez-Colon, Lidija Sekaric, Kerinia Cusick, Andrea Luecke, Colin Murchie and Tony Clifford. Last minute tickets still available.

BEAT Tax Issue.  The Senate’s version of the tax reform bill includes the onerous BEAT (base erosion anti-abuse tax) provision that could reduce the ITC investments by multinational corporations significantly. As the bill proceeds to the conference, lobbyists from many sectors are mobilizing to argue their points. Expect to get some coverage on this topic from SolarWakeup this week once I chase down a tax lawyer for you all.

Small C&I. A new podcast is out today, my conversation with SunWealth CEO, Jon Abe. SunWealth is doing interesting things around the small C&I market from a financing standpoint and how they evaluate the credit profile in that segment. The company also partnered with a corporate to help with scaling, perhaps a sign of things to come. Catch the conversation here.

Sign My NDA. The headline from late last week was the Canadian Solar and Longi had engaged in conversations with Suniva for the purposes of acquisition. My reporting says that this has not gone much further than opening a data room for the companies by the Suniva representatives. This is in many ways like using a signed NDA as a way to show you’ve advanced a project. I remain skeptical that any 201 deal would get Suniva approval unless one of the following happens – a retroactive tariff payment to US manufacturers that yields cash in SQN’s pocket or an acquisition of the company entirely.

NY Storage. Big headlines out of New York about energy storage as the Governor signs a promising policy. More to come on this topic soon and it will be part of the conversation at SolarWakeup Live! New York.

Presented By NTCIC. National Trust Solar is a subsidiary of the National Trust for Community Investment Corporation.  We enable historic, new market and solar tax credit investments in support of communities nationwide.  Since our beginning in 2000, we have raised more than $1 billion in tax credits.  We are recruiting new sponsors and hiring for our dynamic team.

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Yann

E027: Financing Small Solar With New Tax Equity and Power Of The Crowd With SunWealth CEO Jon Abe

In this episode of energywakeup I am joined by Jon Abe the CEO of SunWealth. Sunwealth is a solar start up based in Boston Massachusetts focused on financing small commercial and nonprofit solar projects. The innovation at sunwealth is getting new capital into solar by educating them about the small C&I market. In our conversation Jon tells you about his work to grow a partner network for scaling and partnering with a corporate investor to fund the business. Jon is a solar veteran that made the jump to a startup and is looking to do great things. This podcast was … Read More →

This is your SolarWakeup for December 1st, 2017

SEIA Board Elections. Today is the last day to vote for the elected seats of the SEIA board. I do not know all of the candidates but I know too many to tell you who to vote for. So let me highlight the folks I know, that read SolarWakeup, or have introduced themselves to me in advance of this writing. The top story today is the link to the login for your SEIA membership so you can vote. Please do so. In general, I would recommend you vote for people that have helped you move your business forward, have gone out of their way to advocate in your State or helped the industry even if it didn’t look like it would help themselves. In no particular order, my highlights below. I do ask you however, that you vote for Kendra Hubbard, my reason below.

Kendra Hubbard. Currently with UniRac, Kendra is passionate about solar. I first met her at InterSolar when she came to the conference even though she wasn’t working in solar yet but knew she wanted to get herself into it. I’ll never forget sitting at the dinner speaking with Kendra and wondering to myself who would do such a thing. Kendra should be on the board, her passion is needed and I hope you will cast this vote for Kendra.
Chris Diaz. Chris has been in solar a long time a Principal at Seminole Financial based in Florida.
Bret Sowers. Bret is with Southern Current and works very closely with Solar Powers America, the PAC working to educate legislators on a bipartisan basis.
Tom Hunt. Tom is with Clean Energy Collective  based in Denver and a loyal reader of SolarWakeup.
Adam Shor. Adam is based in Golden, Colorado and Principal at Shor Power.
Brad Stutzman. Brad is the COO and co-founder at O3 Energy based in Dallas, Texas.

DC Agenda Is Final! We will have 5 fantastic conversations. Three 1 on 1 interviews and two discussions with two speakers joining me. The interviews are with Amy Harder of Axios, Congresswoman Gonzalez-Colon of Puerto Rico and Andrea Luecke of The Solar Foundation. The discussions will be about how 100% renewable energy is feasible and what would need to happen to execute on this and what it will take to reinvigorate the Maryland solar market. Join us if you can, we added a few more seats for last minute registrations.

Sponsored by Mintz Levin. Mintz Levin is an Am Law 100 law firm with a nationally recognized Energy & Sustainability Practice that has completed more than 500 transactions across energy sectors totaling over $7.5 billion since 2006.

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Yann

This is your SolarWakeup for November 30th, 2017

A Carbon Tax. Amy Harder, who is joining us next week at SolarWakeup Live, has an interesting top 4 list of reasons why a carbon tax is hard to come by. The first two are primary examples of where we fall short as a solar industry. Political capital still remains on the sidelines for our sector but I hope that changes soon. Educating politicians of the political power of clean air and clean energy means showing them the voters will follow. Part of my conversation with Amy will be about this topic, where the lobbying on clean energy finds openings with republican legislators.

Problematic Tax Language. Language called the ‘Base Erosion Tax’ has shown up in the tax reform bill floating in DC currently. This complicated language appears to cause a quasi alternative minimum tax for multinational corporations. Amongst other things, it hurts the market for domestic deduction and credit investments like the solar ITC. The tax reform conversations are very frustrating because our code is used as an economic development tool. For centuries we have focused tax credits and deductions on sectors we want to see growth in. If we remove the supply of demand, by lowering tax liabilities, then growth in these sectors will slow as well.

The Massachusetts House. One of the things that I gathered from my interview with Senator Boncore was his description of the process to raise the NEM caps. While there was some view on how the Senate could move this forward, he sounded skeptical about the potential of getting the house to do the same. Listen to the interview to hear the skepticism yourself.

New Trade Info. The nuances are getting a bit legal but as I read between the lines, I see a less bureaucratic approach from the trade rep. In asking for the details that led to the complaint by bankrupt Suniva, now owned by an offshore hedge fund. The ask is to find “unforeseen developments” causing the alleged injury. With two prior complaints about dumping, there is hardly anything unforeseen and furthermore begs to ask why Suniva didn’t participate in those prior cases.

Another Coal Plant Closed. This time We Energies has announced the closure of 1.2GW coal plant in Wisconsin, to be replaced by gas and renewables.

Presented by MMA Energy Capital. At MMA Energy Capital, we partner with developers, EPC contractors, and system owners to provide project capital necessary to develop, build, and operate world-class renewable energy systems. We are currently hiring at our growing company.

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This is your SolarWakeup for November 29th, 2017

MA NEM Cap. In this episode of EnergyWakeup I am joined by Senator Boncore, the Massachusetts State Senator representing a large part of Boston and Cambridge. He is the sponsor of the net metering cap increase bill that would raise the cap by 5% across the board, clearing a large amount of backlog for SREC II projects. What did he have to say about the chance to get the cap increased? Listen here.

Senator Merkley. Spoke with a measured tone about how to handle the resolution of the 201 petition. Following the SEIA proposal of a revenue stream to US manufacturers instead of tariffs, Merkley urged the President to weigh in softly through incentives and not harm financial detriments that would cost many jobs. This is a stark contrast to the reactionary comments from Senator Wyden or the use of taxpayer dollars by the Hillsboro Mayor to represent SolarWorld at the ITC.

Bernie’s Puerto Rico Plan. A bold proposal by Bernie Sanders to revitalize the infrastructure in Puerto Rico. Part of the plan is to fix the credit rating by wiping out the existing debt. It may cost $150billion, but imagine living without power for 2 months and no end in sight.

Your December 6^th Options. If you live on the east coast, you should be in DC next week on Wednesday. Hundreds of people will be in front of the USTR hearing, at the SEIA rally while a second crowd will be gathered at SolarWakeup Live! Some unfortunate timing because most people would want to do both but solar never sleeps. Keep in mind that you will not be able to get into the USTR hearing due to lack of space. There are a few seats left for Live!, that you can get here.

Schools With Solar. Another great report from The Solar Foundation on Schools going solar, this is released this morning and worth a read. Great roof space, wonderful message to students and excellent credit ratings – every solar should end up with solar on its roofs.

Presented By Standard Solar. With access to $300 million in low-cost project capital, Standard Solar delivers superior solar projects—from start to finish. From development and engineering to construction and maintenance our extensive team of experts guide our partners through each step of the solar-project process.

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Yann

E026: Future of Net Metering In Massachusetts with Senator Boncore, sponsor of the NEM Cap Bill

In this episode of energywakeup Yann is joined by Senator Boncore, the Massachusetts State Senator representing a large part of Boston and Cambridge. He is the sponsor of the net metering cap increase bill that would raise the cap by 5% across the board, clearing a large amount of backlog for SREC II projects. Senator Boncore provides valuable insights on where the policy is going and how it may or may not progress. This interview was recorded at SolarWakeup Live Boston, which means that your competition that attended the event already has this valuable information. Make sure to catch previous … Read More →

This is your SolarWakeup for November 28th, 2017

Moving Puerto Rico Forward. As Puerto Rico continues its recovery from Hurricane Maria, it is undoubtedly planning for the next step in recovery. There are less eyes and ears focused on the initial emergency response but as a solar industry, there are still great people with knowledge and resources helping create the next grid. A network of interconnected microgrids with a grid system made to maximize the distributed generation.

Join Representative Gonzalez-Colon. To further this conversation, I will be joined by Congresswoman Gonzalez Colon. She represents the Americans of Puerto Rico in the US House of Representatives. Gonzalez-Colon spent time in the Puerto Rico legislature with a clear understanding of the many factor that impact the energy market. She will be at SolarWakeup Live! DC to tell the solar industry about the current state of relief in Puerto Rico and how solar can continue to work on the effort.

Rural Utility Co-Ops. Some of the best solar deals in America will happen in co-ops that you’ve never heard of. Co-ops have boards made up by customers and don’t share the need to deploy capital for a return to a 3^rd party. Given the circumstances, co-ops make sure that any transaction has long term benefit to customers. Keep your eyes on this space.

Run For Something. We focus a lot on congressional seats and utility commissions but we rarely talk about the need to run for the boards at utility companies that serve you. If you live in a co-op served geography, think about finding your way into that board room. If you need to run for a seat, make sure to let the solar industry know so we can be supportive.

Solar World Without SolarWorld. SolarWorld is spending some of its remaining capital buying ads on solar publication platforms. I’m disappointed to see publications take their money, I wouldn’t take their money because the success of SolarWorld in the 201 petition would mean a smaller solar industry and a negative market for you, the readers. As a reader, you have a choice on where to get your news, which I recognize with every new subscriber. My frustration sits with the fact that this is the 3^rd time SolarWorld has come back to the trough and keeps wanting more. The solar industry is united in its opposition because this case is bad for solar and has already caused drastic impacts on business planning.

Presented By True Green Capital.  Our current partnership, Fund III, is actively seeking investment opportunities and channel partners to deploy capital in a scalable focused on DG and small scale projects.  Fund III has ~$350million in equity commitments to build out a ~$1billion solar portfolio.

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Yann

This is your SolarWakeup for November 27th, 2017

8 Days Out. Next Wednesday, December 6^th, is a big day for solar. If you aren’t going to DC, you will be missing the coordinated efforts to move solar forward. More below.

Live! DC. Tickets are about half gone but you can still get in with a 50% off black Friday special. Join me as I speak with Andrea Luecke, Amy Harder and Lidija Sekaric. We’ll have a few more speakers to announce through this week but rest assured, the conversations will be worthwhile. So, if you are not waving signs in front of the USTR hearing, you should be here. I look forward to seeing you.

USTR. The public comment period has ended and now the trade representative will hear testimony from relevant parties about the case. This appears to be less about the case law, as it was in the 201 proceedings, but about the politics and real life impacts that a tariff would cause on the industry. I know that Trump’s comments of “I want tariffs” is in the back of everyone’s mind but jobs and foreign policy is also in play. Senators are also legitimately involved in this process and nobody wants a trade war with China over solar panels, that would be a lose/lose.

Solar Happy Hour. At the top of this email you will find a link to a solar happy hour for December 6^th. After attending SolarWakeup Live and the USTR hearing, join Vote Solar, SEIA and SolarWakeup as we host a happy hour. Short notice means limited space available, send me an email to get on the list.

Michigan Solar. PURPA tariffs for solar are looking good in Michigan. While limited to 2MW projects, the contracts are 20 years which are attractive for any solar investor. Will this be the next North Carolina?

Equal Time Is Flawed. You won’t find it here and it restates the same tired arguments. Matt Card from Suniva has an op-ed out and the Washington Post ran it as some sort of equal time contribution. When an argument is 99% to 1%, the 1% doesn’t get equal time but journalists feel the need to provide equal coverage. Not here, especially not when you are paid to lie.

Big Storage. Australia is leading the charge on big storage. As I’ve mentioned in the past, this is where I have been spending a large amount of my non-SolarWakeup time. The value of large storage is more than move energy from one time period to another especially when coupled with a solar farm. You can’t just co-locate storage with a solar farm, two inverters means two systems. What you want is energy storage behind the solar inverter, moving energy in and out of a single point of interconnect.

Presented By NTCIC. National Trust Solar is a subsidiary of the National Trust for Community Investment Corporation.  We enable historic, new market and solar tax credit investments in support of communities nationwide.  Since our beginning in 2000, we have raised more than $1 billion in tax credits.  We are recruiting new sponsors and hiring for our dynamic team.

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Yann