This is your SolarWakeup for April 19th, 2016
Yesterday after the market closer, David Einhorn from Greenlight Capital sold around 11million of his Sunedison shares between $0.29 and $0.37 per share. Clearly not a winning trade for the hedge fund but better to get out now before a probable imminent bankruptcy filing. So when some in the media label Sunedison as taxpayer funded, make sure to tell them about the hedge funds, private equity funds and private capital that funded the corporation because I doubt that any of the tax equity is going to be at risk in the proceedings. It will be messy for sure but I doubt any taxpayer dollars will have been misappropriated in this case.
News
1 Bloomberg:
SunEdison's Complex Finances Make Potential Bankruptcy `Messy'
2 Greentech Media:
Regulators Reject Third-Party-Ownership Petition in North Carolina
3 Vox:
How cheap does solar power need to get before it takes over the world?
4 Renew Economy:
New report shows 100% renewable by 2030 can save Australia money
5 Rocky Mountain Institute:
“Community Storage” Is a New Way to Think About Reducing Grid Costs
6 Utility Dive:
Utilities should join us in working toward a 21st century rate design
7 PV-Tech:
FERC to assess distributed solar-plus-storage impact on wholesale markets
8 Sun Herald:
NC regulators reject solar test of electricity monopoly law
Opinions:
9 NRDC:
It’s Alive! Senate Energy Bill Returns—But With More Problems for Our Environment
Have a great day!
Yann
This is your SolarWakeup for April 18th, 2016
Subsidy, seems like an ugly word and policy that almost everyone dislikes. But given the political environment we live in and conditioning of society to think long term, I wonder if subsidy is no longer considered bad but good. Ask your neighbor if more should have solar, likely answer is yes. Ask them if Government should subsidize it, likely answer is yes. Paying extra for your societal goals and social values is part of our DNA and we should test that concept more often. Be on the lookout - Sunedison is finalizing their DIP (bankruptcy) financing and likely files for protection shortly thereafter. Here is their deck they submitted to SEC on Friday. Rhone Resch has left SEIA after 12 years as the CEO, I look forward to see what is next for Rhone!
News
1 PV-Tech:
SunShot Initiative’s ‘Orange Button’ programme to slash solar industry finance costs
2 Portland Press Herald:
Subsidizing solar power in Maine would cost us each less than $5 a year
3 Greentech Media:
Rhone Resch Is Stepping Down as Leader of the US Solar Industry’s National Lobbying Group
4 Bloomberg:
Cheaper Than China Again, First Solar Vindicates U.S. Investment
5 PV-Magazine:
SunEdison reveals details from its debtor-in-possession talks
6 Arizona Central:
Arizona solar ballot initiative launched by super PAC
7 Think Progress:
We Just Crushed The Global Record For Hottest Start Of Any Year
8 Fortune:
Ray Kurzweil - Here's Why Solar Will Dominate Energy Within 12 Years
Opinions:
9 Motley Fool:
3 Lessons the Solar Industry Has Learned the Hard Way
Have a great day!
Yann
These are the top 10 most read solar articles by your peers this week!
News
1 San Diego Union Tribune:
Anatomy of a solar meltdown
2 Greentech Media:
David Crane and Tom Fanning Spar Over Distributed Generation
3 Renewable Energy World:
With Too Much Solar, California Looks To West For Markets
4 Fortune:
Financial Turmoil at SunEdison Imperils Solar Projects Worldwide
5 Greentech Media:
Charting SunEdison Employee Morale Against Its Collapsing Stock Price
6 Renew Economy:
Why rise of solar, and fall in costs, still shocks energy experts
7 Boston Globe:
Governor Baker to sign solar compromise
8 The Economist:
Follow the sun
9 MIT:
Watching SunEdison’s Collapse, Solar Industry Resets
10 Fortune:
The Other Side of the Solar Firestorm in Nevada
The Top 10 is ranked by the number of SolarWakeup.com readers that clicked on the news article during the previous week. It is the poll of the most relevant solar news of the week as judged by your colleagues and competitors.
Have a great day!
Yann
This is your SolarWakeup for April 15th, 2016
Time for some Friday mash up. Vivint Solar held its first analyst call yesterday post Sunedison acquisition termination, looking to get investors back into the stock. Finnish oil giant Fortum is looking to buy Sunedison’s India assets and deploy some capital, and policy is always in play somewhere. One thing that makes the SolarWakeup community special is our communication. You can always send me an email or tips, even anonymously by going here. No need for a real email address if you want to pass along info confidentially. Everything is confidential.
News
1 The Economist:
Solar power is reshaping energy production in the developing world
2 Greentech Media:
SunEdison Investigates Self, Finds No Evidence of Fraud
3 EDF:
We're wasting solar energy because the grid can't handle it all. Here's a solution.
4 NDTV:
SunEdison In Talks To Sell India Solar Stakes To Fortum - Report
5 Utility Dive:
Kicking the can - Massachusetts solar law buys time, but full incentive plan remains elusive
6 Portland Press Herald:
Revised solar bill picks up 10 more votes in Maine House
7 Huffington Post:
The Sun Also Rises - Saudi Arabia’s Future Lies in Renewables
8 Oregon Public Broadcasting:
Is The Future Of Solar Bright In Oregon?
Opinions:
9 Advanced Energy Economy:
Businesses to Lawmakers - Get Ohio Out of the Deep Freeze on Advanced Energy
Have a great day!
Yann
This is your SolarWakeup for April 14th, 2016
What has lost investors over 95% of their investment in the last year and is hoping to get investors to double down in a losing bet? The company has lost money each of the last 4 years and has somewhere around $6billion of debt on its balance sheet. If you guessed Peabody Energy (NYSE:BTU), then you are correct. The coal giant has filed for Chapter 11 in the hopes of getting lenders to swap for equity. The company will continue operations and sell coal into 25 Countries while the US keeps getting energy from coal for about 35% of the portfolio. Let’s hasten the change to solar/storage baseload with no emissions and fuel cost volatility in a distributed network.
News
1 New York Times:
Peabody Energy, a Coal Giant, Seeks Bankruptcy Protection
2 Forbes:
Solar Energy Giant SunEdison May Be In Technical Default, According To CreditSights
3 PV-Magazine:
Two-thirds of US solar installers do not offer storage, study finds
4 Renew Economy:
Why rise of solar, and fall in costs, still shocks energy experts
5 Think Progress:
The Paris Climate Agreement Is About To Hit A Major Milestone
6 Bloomberg:
Indian Solar Auction Sees Foreign Developers Mostly Shut Out
7 Grist:
More Californians work in “Advanced Energy” jobs than in farming or Hollywood
8 The Guardian:
Solar power sets new British record by beating coal for a day
Opinions:
9 Huffington Post:
Peabody’s Bankruptcy - A Giant Falls, But Its Obligations Remain
Have a great day!
Yann
This is your SolarWakeup for April 13th, 2016
Today’s top story about two utility execs (Crane and Fanning) debating the merits of regulated, central power utilities versus merchant IPPs moving towards distributed services seemed like it may have some spillover from an interesting commentary (albeit brief) at the BNEF summit. At BNEF, a National Grid exec, boasted about the company’s investment in HVDC transmission that will try to connect the wind markets to the eastern networks (which Nat Grid services). On the panel was also the CEO of Enel Green Power who was quick to comment that investing in transmission just as storage is picking up seems interesting timing. I’m not sure what happens in monopoly board rooms but thinking further than the next quarter doesn’t seem to be the most likely…
News
1 Greentech Media:
David Crane and Tom Fanning Spar Over Distributed Generation
2 Sun-Sentinel:
Solar issue supporters plan multimillion-dollar campaign
3 Fortune:
The Other Side of the Solar Firestorm in Nevada
4 CleanTechnica:
UN Expects More Than 130 Countries To Sign Paris Climate Agreement
5 NRDC:
New Study Concludes Getting 50% of NY's Electricity from Renewable Sources by 2030 is a Net Win
6 PV-Magazine:
Lux tips perovskite PV commercialization by 2019-2020
7 Washington Post:
Solar-powered plane gets back on track in round-the-world trip
8 KQED:
Too Much Solar in California? Not If You Bottle It
Opinions:
9 Think Progress:
‘Blackout Blackmail’ - New Report Casts Doubt On Utility’s Claims
Have a great day!
Yann
This is your SolarWakeup for April 12th, 2016
Everyone that knows me, knows that patience isn’t my strong suit. Specifically when I am waiting for a shoe to drop that I expect to be coming but it is taking longer than it should. I am talking specifically about the ‘potential’ bankruptcy filing by Sunedison. I don’t view it as a bad thing, it will give the company the ability to work some things out and perhaps come out stronger on the other side. The problem now is that the waiting game is keeping a lot of folks on the sidelines wondering what is going on and that doesn’t help anyone. In the meantime, we shall continue pressing refresh on the SEC website to see what is going on. One thing is sure, today is the last day that I will be publishing the oped pieces on what the SUNE situation means for solar.
News
1 San Diego Union Tribune:
Anatomy of a solar meltdown
2 Greentech Media:
Charting SunEdison Employee Morale Against Its Collapsing Stock Price
3 MIT:
Watching SunEdison’s Collapse, Solar Industry Resets
4 Renewable Energy World:
With Too Much Solar, California Looks To West For Markets
5 PV-Tech:
Winners of 2014 Brazil solar auction ask for more time - report
6 Rocky Mountain Institute:
Industrialised Nations Must Lead an Exit Strategy for Fossil Fuels
7 Solar Industry:
World Bank Sets 30 GW Renewables Target Under Climate Action Plan
8 Forbes:
Global Investment In Solar Slips, Venture Capital Shifts Focus To Downstream
Opinions:
9 CleanTechnica:
Sharply Higher Rooftop Solar Potential Increases Potential For Energy Self-Reliance
Have a great day!
Yann
This is your SolarWakeup for April 11th, 2016
Banks getting into the sector still makes news, which I think is great because it puts a name to the face. The face, of course, is the $150billion that came into the solar space in 2015. Bank of America is the brand that makes the rest of the market feel the competition for projects that are looking for the money. On Friday, BoA announced a new fund for SolarCity and has great credibility with retail investors. So as we enter a week of public failure in the solar space, remember the billions that fund solar projects every single week. The next step is to reduce the spread between project returns on where comparable real estate assets get funded.
News
1 Renewable Energy World:
Banks Pledge $7BN to Scale Up Clean Energy Investment
2 Fortune:
Financial Turmoil at SunEdison Imperils Solar Projects Worldwide
3 Boston Globe:
Governor Baker to sign solar compromise
4 Breaking Energy:
China Gives Green Light For Green Bonds
5 PV-Tech:
SolarCity’s 1GW Buffalo fab using technology from Japan, Germany and Taiwan
6 Renew Economy:
WA takes lead and tells utility to close down fossil fuel generation
7 Think Progress:
Sorry, Feds - Kids Can Sue Over Climate Negligence, Judge Says
8 Star Tribune:
Report faults Xcel's handling of solar garden project
Opinions:
9 EDF:
Transforming the Electric System to Reduce Costs and Pollution
Have a great day!
Yann
These are the top 10 most read solar articles by your peers this week!
News
1 New York Times:
A Renewable Energy Boom
2 Greentech Media:
A First Look at Amazon’s New Drone-Based Solar Installation Service
3 Bloomberg:
SunEdison Plunges on Report of Plans to File for Bankruptcy
4 Mass Live:
Massachusetts House passes bill lifting solar net metering cap
5 Los Angeles Times:
Are you paying too much for a rooftop solar system?
6 FastCo Exist:
A Texan Solar CEO Who Wants To Eliminate Subsidies Is Now A Fox News Darling
7 Renewable Energy World:
When Will Rooftop Solar Be Cheaper Than The Grid? Here's A Map
8 Bloomberg:
Wind and Solar Are Crushing Fossil Fuels
9 Renewable Energy World:
Community Solar Tipping Point
10 PV-Magazine:
Solar takes center stage at BNEF Future of Energy Summit
The Top 10 is ranked by the number of SolarWakeup.com readers that clicked on the news article during the previous week. It is the poll of the most relevant solar news of the week as judged by your colleagues and competitors.
Have a great day!
Yann
This is your SolarWakeup for April 8th, 2016
Headlines are always tricky and we all fall for them. The days that you, the reader, doesn’t like the headlines you don’t read the news. I know because I see the traffic from email and website which can vary up to 40% up or down. Take today’s headline for example, I actually view less corporate activity as a positive sign for our sector because all of the data shows that project financing is up. I recognize that profits have yet to be fully understood and sized correctly but more project finance is good. The companies with the best ability to deploy capital, large sums of it, will be the leaders in the space.
News
1 PV-Magazine:
Hard times in corporate funding for solar during Q1
2 PV-Tech:
SunEdison bankruptcy risk won’t derail Indian solar targets, says government
3 Bloomberg:
Solar Energy Thrives in Face of Cheap Oil
4 Greenbiz:
Utilities push back against solar
5 Utility Dive:
Maryland Senate passes 25% RPS in clean energy jobs bill
6 CleanTechnica:
Carbon Pricing Is Necessary, But Has Limits
7 Renewable Energy World:
When Will Rooftop Solar Be Cheaper Than The Grid? Here's A Map
8 Huffington Post:
Bridge to Nowhere - California PUC’s Rubber-Stamping of New Gas Plants Holds Back Clean Energy
Opinions:
9 Greentech Media:
To Become Truly Mainstream, Solar Will Need to Cost 25 Cents per Watt by 2050
Have a great day!
Yann
