This is your SolarWakeup for January 20th, 2023
De-De-SPAC. Shell is buying EV charging network company Volta which went public a couple years ago only to lose 90% of its value since then. It’s an unfortunate reality for the companies that found hope and capital in a frothy SPAC environment. That doesn’t mean that the companies are bad or don’t have the ability to succeed, it means that they still need time and breathing room to becomes sustainable endeavors that can withstand the pressure of being public and reporting quarterly. Will more public companies, that went public via SPAC, get acquired? It’s very likely.
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News
1 Utility Dive:
CAISO proposes tweaks to day-ahead market to account for load uncertainty
2 Axios:
Mayors want to fight climate change, but fear losing their jobs
3 Reuters:
Mayors want to fight climate change, but fear losing their jobs
4 PV-Tech:
‘A significant moment for European solar manufacturers’ - EU unveils Green Deal Industrial Plan
5 Energy Storage News:
California utilities seek energy storage-enabled resilient microgrid and island power projects
6 Canary Media:
Shell buys EV-charger operator Volta for pennies on the dollar
7 PV-Magazine:
IRA to drive $114 billion in U.S. renewable energy investments by 2031, report says
Opinions:
8 Bloomberg:
Winter Blackouts Highlight Need for Clean Energy
Have a great day!
Yann
This is your SolarWakeup for January 19th, 2023
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News
1 Canary Media:
24/7 carbon-free energy is about to become a reality in California
2 Atlanta Journal Constitution:
The Jolt - Ossoff and Kemp allies battle over credit for new Qcells plants
3 Utility Dive:
California greenlights more than 800 MW of storage and solar to bolster power grid reliability
4 Axios:
"Solyndra" search impacts GOP districts
5 Solar Builder:
Is it feasible? Is it legal? Sunnova micro utility plan explained as CPUC mulls decision
6 PV-Tech:
Cubico acquires 1GW solar PV project in Brazil
7 Energy Storage News:
CATL to start conducting UL9540A tests through UL Solutions partnership
8 PV-Magazine:
Crafting a California community solar market
Opinions:
9 Bloomberg:
A Tighter Oil Market Is Coming After an Unsteady Start
Have a great day!
Yann
This is your SolarWakeup for January 18th, 2023
Nextracker Goes Public. This isn’t a surprise to readers of SolarWakeup, I called this shot almost two years ago when the mad rush for tracker IPOs was hitting the market. With the S-1 we have some additional information including the 3.1billion dollar valuation that TPG invested in last year. Having written thousands of columns over the past 10 years, it’s nice to have my predictions on the record especially when they’re right. You can see the full filing on the first link and I send my congratulations to my friends Shug and Howard Wenger leading another solar success story. This also marks a victory for TPG’s Rise Fund who should see at least a 2x on their investment depending on valuation but analysts expect at least $6.5billion based on comparable public peers.
Batteries At Gas Plants. Yesterday, FlexGen announced that we will be providing our services to Middle River Power as they build 4 stand alone batteries at existing natural gas plants. These batteries will add to MRP’s capabilities in CAISO using the FlexGen operating system that ensures the batteries turn on and stay on. The interesting aspect of this is about where these batteries will go and where they’ll go on a global market basis. Basically every point of connection on the grid will have or could use some version of energy storage. Power plants, substations, homes and businesses are points in the grid that need some elasticity. The key is to have durable batteries matched with the digital controls and operating system that make it work the way you want and that’s what FlexGen does.
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News
1 SEC:
Nextracker S-1 Filing
2 Energy Storage News:
California gas peaker plants to get battery storage upgrades from FlexGen
3 PV-Magazine:
2022 energy storage financing, M&A activity increases
4 Politico:
Climate law fuels solar vs. wind battle
5 Utility Dive:
Solar companies attracted a record $7B in venture capital, and 2023 could be even bigger
6 Bloomberg:
Biden’s Green Energy Bank Races to Leverage $394 Billion to Scale Cleantech
7 Reuters:
Davos 2023 - EU to counter U.S. climate game changer with own green deal
8 Canary Media:
Ports need electric trucks. Forum Mobility has $400M to make it happen
Opinions:
9 PV-Tech:
US solar asset owners at risk of revenue loss amid supply chain, extreme weather challenges
Have a great day!
Yann
This is your SolarWakeup for January 17th, 2023
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News
1 Bloomberg:
Solar Energy Firm Nextracker Files for IPO as Market Warms
2 Utility Dive:
2023 Outlook - US power sector trends to watch
3 Axios:
California faces weeks of cleanup as "one last" major storm lashes state
4 Reuters:
France to push for 'Made in Europe' strategy at Feb EU summit
5 PV-Tech:
Trina’s 6.5GW Vietnamese wafer factory to be online this year, targeting US market
6 Energy Storage News:
LG Energy Solution, Hanwha in US energy storage battery partnership
7 Canary Media:
Nevada lithium mine project gets $700M conditional loan offer from DOE
8 PV-Magazine:
Tigo Energy raises $50 million from L1 Energy
Opinions:
9 New York Times:
A Deal to Help South Africa Is a Breakthrough for the World
Have a great day!
Yann
This is your SolarWakeup for January 13th, 2023
The Lender You Can Depend On. In a market that is full of uncertainty, you can rely on Dividend Finance to bring you white glove service to help you reach your long-term goals. Apply Here
News
1 Utility Dive:
DOE launches updated mapping tool to optimize renewable energy siting decisions
2 Bloomberg:
Renewable Power Is Thriving in Europe Amid Looming Energy Crisis
3 Axios:
Exxon's climate research accurately projected global warming, study finds
4 Reuters:
North America aims to make 25% of what it imports from Asia, Mexico says
5 PV-Tech:
PV Price Watch - Polysilicon price slump expected to stabilise at US$10-15/kg in 2023
6 Solar Power World:
JA Solar plans to open 2-GW solar panel factory in Phoenix
7 Energy Storage News:
Dominion Energy South Carolina signs PPA for 108MWdc/198MWh solar-plus-storage project
8 PV-Magazine:
Trina Solar’s new 6.5 GW Vietnam wafer plant to exclusively supply U.S. market
Opinions:
9 Canary Media:
Can clean-energy advocates stop new gas plants in North Carolina?
Have a great day!
Yann
This is your SolarWakeup for January 12th, 2023
The Lender You Can Depend On. In a market that is full of uncertainty, you can rely on Dividend Finance to bring you white glove service to help you reach your long-term goals. Apply Here
News
1 Bloomberg:
The Jump in Energy Prices Drove More Money to Climate Tech Last Year
2 HuffPost:
Democrats’ Climate Law Is About To Give A Big Boost To U.S. Solar Manufacturing
3 Politico:
Georgia becomes test bed for climate law
4 Utility Dive:
FERC approves PacifiCorp’s proposed interconnection process for replacing retired generation
5 Energy Storage News:
Leeward closes US$260 million financing for 352MWh solar-plus-storage project in California
6 Reuters:
S. Korea's Hanwha Qcells to invest $2.5 bln in U.S. solar supply chain
7 Solar Builder:
Seminole, Blackstone Finance 55 MW Revity Energy Solar Project in Rhode Island
8 PV-Tech:
NovaSource using data-led tech to draw asset owners away from in-house O&M
9 PV-Magazine:
South Carolina 108 MW solar, 198 MWh battery project finds offtaker
Opinions:
10 Canary Media:
We need a lot more electricians if we’re going to electrify everything
Have a great day!
Yann
This is your SolarWakeup for January 11th, 2023
The Lender You Can Depend On. In a market that is full of uncertainty, you can rely on Dividend Finance to bring you white glove service to help you reach your long-term goals. Apply Here
News
1 Reuters:
Goldman Sachs raises $1.6 bln private capital for climate fund
2 Bloomberg:
Round-the-Clock Clean Power Doesn’t Cost a Fortune, Study Shows
3 Politico:
Biden - North America should be ‘clean energy powerhouse of the world’
4 PV-Magazine:
RMI launches virtual power plant partnership with Google Nest and GM
5 Utility Dive:
FERC approves Duke Energy Florida, Tampa Electric membership in Southeast Energy Exchange Market
6 Axios:
Federal Reserve's Powell says central bank will not be a "climate policymaker"
7 Solar Builder:
Meet Panasonic’s top solar and storage installers from 2022
8 PV-Tech:
France awards 173MW of solar in oversubscribed PV auction
9 Energy Storage News:
Germany - RWE 117MW hydro-coupled battery storage to begin commercial operations imminently
Opinions:
10 Renew Economy:
Big solar smashes Australian generation record, crunches coal, to close out 2022
Have a great day!
Yann
This is your SolarWakeup for January 10th, 2023
Innovation Economy. The tech sector would tell you that it’s when the ride looks like it came to an end that the best new ideas come to the forefront. VCs look at smart, hungry entrepreneurs that may have been faced with layoffs from their cozy job and find ideas to invest in. We’re in an era in renewable energy where cheap money isn’t so cheap anymore, developing takes big bucks and finding square farm land is so 2010. On the other hand, you have a 10 year ITC runway, energy inflation has increased electricity rates and technology maturity is the best it’s been (ever). Now is the time to figure out where the innovation is and if it’s in your blood, take the leap to build something new. I’m excited to see what great ideas come to fruition and who builds the next…
Trackers For All. The top article today is about one of those innovations. The tracker that eliminates the need for grading, i.e. civil costs, for utility scale solar projects. The all terrain tracker was pioneered by an amazing startup called Nevados, I’ve highlighted them a few times in the past. Now Nextracker and Array Technologies have seen and realized the potential of this tech but it starts with the near decade of head start that the Nevados team has. It’s an interesting concept that also has challenges on how to build it so installers don’t waste a ton of time putting it together, think very steep slopes and uneven pilings. While also withstanding the ever growing wind, snow, rain loads that may undermine a project’s lifespan. Nevados talks about the direct impact from a hurricane in some of their experience set so it’s definitely worth looking int.
Controls And Software. I had a quick chat with the Nevados CEO yesterday and something he said struck me given my experience at FlexGen, helping EPCs, developers and IPPs get started with storage. All terrain trackers have more complexity and need more sophisticated controls and software. Shading analysis isn’t one sized fits all for example and the tracking algorithm requires a meaningful topographical analysis. It’s like storage in that way, you can buy the same battery from different vendors or different chemistries but until you put an operating system and controls configured to your project in place, you have a desktop without windows. Something has the turn the lights on, or your asset in this case.
The Lender You Can Depend On. In a market that is full of uncertainty, you can rely on Dividend Finance to bring you white glove service to help you reach your long-term goals. Apply Here
News
1 Solar Power World:
Single-axis trackers upgrade to handle uneven land sites
2 Bloomberg:
Here’s 10 Things to Watch in Energy Markets in 2023
3 Utility Dive:
White House guidance on GHG analysis will ease renewable energy permitting, trade groups say
4 Axios:
Major atmospheric river lashes California
5 Reuters:
German renewables firm Enpal hits $2.4 bln valuation with new funding round
6 Solar Builder:
OpenSolar donating 1 percent of annual revenue to power vulnerable communities with Empowered By Light
7 Energy Storage News:
Spanish state providing €150 million in grants for co-located energy storage projects
8 PV-Magazine:
New York approves siting for upstate solar projects with 309 MW output
Opinions:
9 PV-Tech:
PV Price Watch - Downward solar pricing trend continues amid lower cell quotes
Have a great day!
Yann
This is your SolarWakeup for January 9th, 2023
The Lender You Can Depend On. In a market that is full of uncertainty, you can rely on Dividend Finance to bring you white glove service to help you reach your long-term goals. Apply Here
News
1 Bloomberg:
Putin’s Energy Gambit Fizzles as Warm Winter Saves Europe
2 PV-Magazine:
Revamped rooftop solar enterprise sales platform reduced install times by 37 days
3 Axios:
Next in parade of atmospheric rivers set to slam storm-hit California
4 Energy Storage News:
US’ tax credit incentives for standalone energy storage begin new era
5 Reuters:
Explainer - Why the U.S.-Mexico energy spat is a tough nut to crack
6 PV-Tech:
Sunrun bags US$835 million in financing to back portfolio of leases and PPAs
7 Canary Media:
Charts - Tesla stock tanks even as it sets EV delivery record
Opinions:
8 GreenBiz:
The end of energy-as-usual
Have a great day!
Yann
This is your SolarWakeup for January 6th, 2023
The Lender You Can Depend On. In a market that is full of uncertainty, you can rely on Dividend Finance to bring you white glove service to help you reach your long-term goals. Apply Here
News
1 PV-Magazine:
Four global trends in solar and storage
2 New York Times:
Mercedes-Benz Plans to Build U.S. Electric Car Charging Network
3 Solar Industry:
SEIA Expands Solar Leadership and Committee Member Panel
4 Bloomberg:
Big Solar Panel Manufacturers Boost Production as Costs Fall
5 Reuters:
Even in crisis, Germany extends power exports to neighbours
6 The Verge:
Coming soon - smart homes where the electricity isn’t so dumb
7 Axios:
Exclusive - DOE official warns of solar supply chain risks
8 PV-Tech:
Silicon Ranch secures US$600 million equity raise
9 Canary Media:
New York Is Transitioning to a Clean Energy Future
Opinions:
10 Utility Dive:
Clean energy tax credit transferability - Hero of the Inflation Reduction Act?
Have a great day!
Yann
