This is your SolarWakeup for July 29th, 2015
Growth comes in all shapes and sizes. For SolarCity it was the full stack of residential offerings and large corporates with public credit. Now comes the last remaining aspect of the US solar market, small and medium commercial. Reading between the lines, the company is looking to get into unrated and private credits. The press release is heavy on simpler technology and in-house crews but that’s only a cost item. The last SolarCity ABS still had a FICO average in the 700s and the strategy has to be more than lower costs and scale. SolarCity is planning something else to combat the financial structuring, let’s see where it goes.
News
1 Los Angeles Times:
SolarCity launches plan to bring solar power to small and midsize firms
2 Bloomberg:
SunPower Beats Estimates After Forming Solar Joint Venture
3 Charlotte Observer:
Let’s remember the benefits of N.C. renewables
4 Huffington Post:
The Secret Network of Fossil Fuel and Utility Backed Groups Working to Stop Clean Energy
5 Engadget:
Researchers boost solar energy by tapping infrared light
6 PV-Magazine:
China idled 9% of its solar capacity in H1 2015, NEA reports
7 Vox:
Yet another study finds that reducing carbon emissions saves Americans money
8 Christian Science Monitor:
For those without electricity solar is shining brighter
Opinions:
9 The Guardian:
Solar power – an array of misconceptions
Have a great day!
Yann
This is your SolarWakeup for July 28th, 2015
David Roberts from Vox has the right headline today. Solar (especially rooftop) is booming due to cost declines, more innovative financing structures and fair regulatory policies. With the ITC and net metering being attacked daily (see today’s “ratepayer advocate” from Arizona) you can see how quickly this could go sideways for solar. Just think about how much money is spent by solar companies on public policy and regulatory research. This money isn’t spent for the good of solar. It is spent for the good of the companies that lobby for the policies that drive their business model.
News
1 Vox:
Rooftop solar is booming. But it may be more vulnerable than you think.
2 Fortune:
Why Hillary Clinton could be the solar industry's new best friend
3 PV-Tech:
California utility SCE to procure 105MW of PV through auction and new ‘Green Rate’ programme
4 KFOR:
OG&E to offer customers solar energy
5 Renewable Energy World:
Major US Corporations Pledge To Increase Renewable Energy Usage
6 PV-Magazine:
Smart meters can jeopardize grid reliability
7 Utility Dive:
What's next for the NextEra-Hawaiian Electric deal?
8 Arizona Central:
Protect ratepayers by addressing solar cost shift now
Opinions:
9 Huffington Post:
Clinton's Bold Clean Energy Plan Is Within Reach
Have a great day!
Yann
This is your SolarWakeup for July 27th, 2015
Hillary Clinton has come out with a strong proposal on climate change and solar in particular. What amounts to growing solar seven-fold by 2027, Clinton is looking to make sure that America understands that solar energy is an economic prosperity and growth story where jobs are always available and pay well above average. What we have to remember is that while we get big headlines, there are many smaller headlines and misleading campaigns on what is smart and shady and how net metering is bad for utilities and consumers. Everyone has a motive, so when you read the headline, understand what the motive is.
News
1 Vox:
Hillary Clinton is calling for a 700% increase in solar power. Is that realistic?
2 Denver Post:
Battle of solar pits rooftop against utility-scale systems
3 Ocala Star Banner:
Ocala Electric Utility’s war on solar energy
4 Huffington Post:
Senate Finance Committee Puts Wind and Solar On Short Leash
5 Clean Technica:
Edison & Tesla Video Interview (EEI’s Ted Craver & Tesla’s Elon Musk & JB Straubel, That Is)
6 PV-Tech:
Brazil auction recieves 20.9GW of PV registrants
7 PV-Magazine:
UK should taper off subsidies over five years
8 Solar Power Portal:
STA laments ‘underperforming’ commercial rooftop market
Opinions:
9 Dallas Morning News:
Solar technology could give consumers the power to get off the grid
Have a great day!
Yann
These are the top 10 most read solar articles by your peers this week!
News
1 Fortune:
Why SunEdison is buying Vivint Solar for $2.2 billion
2 New York Times:
Jeb Bush Calls for an End to Energy Subsidies
3 Forbes:
Who Gets Bought Next In Solar After Vivint?
4 Energy Collective:
19 Graphs That Explain Solar Panels for Home Owners (With Maps!)
5 CNN:
Super-charge the solar power boom
6 New York Times:
Dozens of Expired Tax Breaks Would Get Renewed Under Bill
7 Berkshire Eagle:
Solar net metering caps put Williamstown solar farm project on hold
8 Think Progress:
Have You Heard Of Solar Desalination? If Not, You Will Soon.
9 Forbes:
More Smoke, More Mirrors For Solar Politics In Sunshine State
10 Vox:
Want more wind and solar? We'll need to get rid of outdated grid rules.
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 July 24th, 2015
Vacation brain got to me as I realized today that I put the wrong link for the Senator Hatch action alert. So let’s give you a recap. The Senate Finance committee has passed a tax extenders bill. In the next phase, amendmentsdaf will be made from the floor which usually need some level of approval by the Chair and Ranking member. As the Senate moves to recess, we have to speak up to Senator Hatch and Senator Wyden, the Senators from Utah and Oregon respectively. Solar doesn’t have the money that the utilities have and until ideas like today’s top story about leveling the playing field (never going to happen) get somewhere, solar has to use its voice and grassroots support
News
1 New York Times:
Jeb Bush Calls for an End to Energy Subsidies
2 Huffington Post:
Will Obama's Kenya Trip Salvage His 'Power Africa' Legacy?
3 Vox:
Want more wind and solar? We'll need to get rid of outdated grid rules.
4 Think Progress:
Have You Heard Of Solar Desalination? If Not, You Will Soon.
5 PV-Magazine:
China eyes further PV target increase in 13th five-year plan
6 Solar Power Portal:
Barker urges solar industry to ‘avoid hysteria and self-damaging doom mongering’
7 Utility Dive:
Report - Wait times for rooftop solar interconnection jumped 68% 2013-2014
8 Solar Industry Magazine:
Risk Assessment And Reduction Will Attract Capital To C&I Solar
Opinions:
9 Sun-Sentinel:
Bright side to suspicious 2nd solar measure
Have a great day!
Yann
This is your SolarWakeup for July 23rd, 2015
The Sunrun IPO is going to be happening soon as the prospectus was filed yesterday. The residential game is going strong this week. With Sunedison buying Vivint Solar for $2.2billion including $500million in debt giving the company a valuation of $1.7billion. Sunrun, which had 8 times the revenue of Vivint Solar in 2014, is trying to IPO at $13-$15 per share giving the company a valuation of $1.25-$1.45billion. Interestingly, Sunedison has increased guidance due to the Vivint Solar acquisition by an AMAZING 1.1-1.3GW. That means that the company expects 2016 to be 2x the cumulative lifetime. As a sidenote, will some reporters do some real work on their stories going forward? The GTM Residential Leaderboard is for pure play installers. Not residential marketshare as a whole. Vivint Solar can’t be the second largest with $25million in revenue in 2014 compared to SolarCity’s $250million and Sunrun’s $198million. Here is the prospectus for some fun reading
News
1 Fortune:
Solar company Sunrun sets terms to raise up to $309 million in IPO
2 Arizona Central:
AG's Office widens Arizona Corporation Commission investigation
3 Utility Dive:
For top utilities, customer satisfaction hinges on empowerment
4 Renewable Energy World:
How Solar Energy Zones and Easy Permitting Helped Create 3-cent Solar
5 Forbes:
Nuclear Almost As Good As Solar, Says Report Prepared For Nuclear Group
6 Grist:
James Hansen’s new climate study is terrifying, but he still has hope
7 Renew Economy:
Labor picks a winner with 50% renewable energy target
8 The Guardian:
How the solar panel subsidy cuts will affect you
Opinions:
9 Las Vegas Sun:
Limiting rooftop solar stifles Nevadans
Have a great day!
Yann
This is your SolarWakeup for July 22nd, 2015
Maybe you have been sitting out the ITC lobbying because it was too early or it didn’t impact you enough just yet. While the date seems far off, you have to remember that next year is a Presidential election year and nothing will get done. Case in point, a tax extender bill came out of Senate Finance Committee and solar ITC was not included. ALL IS NOT LOST, now is the time to get involved. The Chair of Senate Finance can still make a change by amendment. We need your voice. I need your help. Send Senator Hatch a note, Have your family send him a note. Your 2nd cousin? He should send a note too!
News
1 NY Times:
Dozens of Expired Tax Breaks Would Get Renewed Under Bill
2 Bloomberg:
KKR Buys Majority Stake in $1 Billion Spanish Solar Firm
3 Las Vegas Journal:
Solar company alleges cronyism between Sandoval administration, NV Energy
4 Solar Industry:
Los Angeles Assembling Solar Action Committee To Address PV Challenges
5 Mass Live:
Environmental activists urge state to lift cap on solar energy subsidy program
6 Think Progress:
Why The Pope Just Met With Dozens Of Mayors About Climate Change (And Human Trafficking)
7 Forbes:
Who Gets Bought Next In Solar After Vivint?
8 The Washington Post:
Study - Pepco is the country’s worst utility at connecting solar power
Opinions:
9 Utility Dive:
Why utility ownership of rooftop solar should be explored
Have a great day!
Yann
This is your SolarWakeup for July 21st, 2015
You have all heard the news by now. SunEdison is buying Vivint Solar, a story I covered in detail when they filed their S-1. The price tag, $2.2billion but let’s dig into that a bit. The development platform, SunEdison is buying the Vivint Solar platform for $777million and adding a $500million loan. This is most likely to pay off some of the debt that Vivint Solar had to Vivint. Terraform is acquiring the 2015 assets of Vivint Solar, a total of 523MW for $962million which equates to $1.84/watt for deals average $0.14/kWh. My first reaction is that this may be the largest addition of residential solar assets into a yieldco, at 9.5% cash on cash yield, a lucrative addition. Read the investor presentation here.
News
1 New York Times:
SunEdison to Buy Vivint Solar for About $2.2 Billion
2 Fortune:
Why SunEdison is buying Vivint Solar for $2.2 billion
3 PV-Tech:
Big UK solar support cuts imminent - reports
4 Utility Dive:
The Transportation Grid - How utilities can drive the future of transport
5 Renew Economy:
$1 trillion solar, wind finance to outstrip oil and gas industry
6 Think Progress:
Two Giant Israeli Solar Plants Will Soon Provide Nearly 2 Percent Of The Country’s Electricity
7 Clean Technica:
Utility Solar May Cost Less, But It’s Also Worth Less
8 Wall Street Journal:
Hanergy Cancels Deal with Parent Company to Buy Solar Panels
Opinions:
9 EDF:
How California is Getting Electricity Pricing Right and Bringing Clean Power to the People
Have a great day!
Yann
This is your SolarWakeup for July 20th, 2015
What is the point of net metering caps? They are a big subject currently in Nevada and Massachusetts. One side would say that it has to preserve the integrity of the grid that is used to provide service for consumers ‘when they hit their light switch’. The other side would simply say that it is used to keep solar growth from stagnation. It’s all a marketing scheme at the end of the day, a net metering cap is just that, a cap. A cap on solar, a cap on growth, a cap on creating sustainable businesses in our industry.
News
1 Berkshire Eagle:
Solar net metering caps put Williamstown solar farm project on hold
2 CNN:
Super-charge the solar power boom
3 Energy Collective:
19 Graphs That Explain Solar Panels for Home Owners (With Maps!)
4 Forbes:
More Smoke, More Mirrors For Solar Politics In Sunshine State
5 Bloomberg:
Californians, Love Thy Neighbor as One May Power Your Dryer
6 PV-Tech:
Industry concern over record low solar bids in India
7 NRDC:
Making the Case for the Clean Power Plan
8 Grist:
Arizona and California are ignoring the science on water
Opinions:
9 Motley Fool:
Energy Revolution? OPEC Countries Become the Biggest Fans of Solar Energy
Have a great day!
Yann
These are the top 10 most read solar articles by your peers this week!
News
1 Forbes:
Why California Is A Natural Gas State
2 Boston Globe:
Could this billionaire environmentalist make or break the Democratic primary?
3 Think Progress:
This Massive Utility Wants More Renewable Energy Because Corporations Are Demanding It
4 Seeking Alpha:
U.S. Rooftop Solar Is Rapidly Gaining Support
5 FastCo Exist:
With This Airbnb For Energy, Now You Can Buy Solar Power From Your Neighbor
6 Think Progress:
Why Don’t Republicans Believe The Scientists On Climate Change?
7 The Hill:
A new business model for the electricity sector
8 Think Progress:
The Northeast’s Electricity Bills Have Dropped $460 Million Since They Started Paying For Carbon
9 The Hill:
A new business model for the electricity sector
10 Renewable Energy World:
FERC Removes Obstacles that Limit Distributed Renewable Energy in Colorado
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
