New York Incentive For Storage. NYSERDA is making things going forward and with these incentive levels, expect a lithium rush to the Empire State. ‘Retail’ projects will start with incentives of $350/kWh and larger projects will start at $110/kWh. Both create a major catalyst for the market to expand and with the pool of available capital, it should be able to last for sometime. I actually worry that the incentive is too high as battery costs are declining rapidly. In the meantime, let’s see with integrators are best positioned to serve the developer markets. My interview with Engie Storage CCO is coming soon to the podcast and catch my interview from last year with FlexGen CEO, Josh Prueher on the topic. 

But We Need More. With reporting from down under, it shows that energy storage is a vital part of where we need to go. That is why you’ve seen CalSEIA and COSeia change their names to include storage, CALSSA and COSSA respectively now. The next decade will decide what the technologies of storage with be, including pumped hydro when possible. With California and New York going big on incentives to drive the markets, expect the storage sector to develop robust pipelines and drive the price down alongside the auto OEMs. 

Beto Takes On Climate. The former Congressman from Texas that took the nation by storm last year during his race against Ted Cruz has outlined the first policy for his Presidential campaign. The policy is a $5 trillion climate plan that gets us to reach ‘net-zero’ by 2050. In some ways this is the ‘I have my own plan so I don’t need the green new deal, plan.’ Beto has been quiet but with 20 candidates in the primary, it’s going to take some work to stick out. In other climate news, Congressman Seth Moulton is calling for a moonshot to develop nuclear fusion technology to solve climate change. 

• Energy Storage News: New York’s Green New Deal puts US$350m investment into energy storage
• Axios: The key to unlocking wind and solar – Making it last
• Grist: Beto’s first major 2020 policy proposal is a $5 trillion climate plan
• Los Angeles Times: L.A. Mayor Garcetti’s ‘Green New Deal’ would phase out gas-fueled cars
• Bloomberg: Malaysia’s Oil Giant Looks to Americas to Increase Oil Reserves
• Utility Dive: California adopts 2030 Preferred System Portfolio with 12 GW new wind, solar, storage, geothermal
• PV-Tech: DNV GL bids to scale up PPA market through digital marketplace

Opinion

• Greentech Media: Renewable Investors Breathe Easy After Spanish Elections

Have a great day!

Yann

Weekend Rundown. Many great stories today with thoughts from me, keeping it brief but make sure to catch the stories that hit your notes. Don’t forget to subscribe to the SolarWakeup Podcast on Apple Podcast to keep up to date on the latest happenings. 

PA Solar Flexes Muscles. Like in Illinois and others before it, a nuclear bailout bill makes it possible for solar and renewables to extract value from legislators. In PA, it looks like there is enough power in solar to get something done, let’s see what happens. 

Is SC Gaining Traction? An inside view at the legislative process says that a hold in the State Senate may be getting lifted now that some concessions are made. This would bode well for the solar market in SC. 

The WV Litmus Test. Does solar need the market, job training and economic opportunity to come true in West Virginia? Even without the robust help of the legislature, it feels to me that coal communities in West Virginia and Kentucky need to feel solar growth and opportunity. 

RPS Counterpoint. The University of Chicago report on the cost of RPS policies is flawed and this author takes you through the flaws. 

Does Lindsay Graham Need Solar Votes? What could be an homage to Senator McCain, Senator Graham came out for the need to do climate policy. He is in an election year and political advisors are close to solar. He may also see how much of a turn the energy sector has made in South Carolina. He could also be a safe seat and is taking some heat off of his colleagues in the Senate since McConnell wouldn’t touch this anyways. 

Meeting In The Middle. Do renewable energy advocates need to meet in the middle on these policies? I listened to Julia Pyper’s Political Climate podcast’s new episodes on a long drive this weekend and I am curious whether the both sidesism is healthy for energy policy which is inherently one-sided. Either regulated or not. Monopolies or not. RPS or not. Net metering or not. This is policy versus politics. 

Community Solar Trades. Clean Energy Collective has had a majority of their shares acquired by North American Infrastructure Partners. As more investors look for proprietary deal flow, they will want robust development platforms under their control. 

• Philadelphia Inquirer: Solar and wind energy advocates may hold swing vote in Pennsylvania’s divisive nuclear rescue debate
• FITS News: SC Solar Bill: Compromise Reached
• Charleston Gazette-Mail: At Solar Congress, experts hail WV’s potential for renewable energy
• Axios: Renewable portfolio standards have delivered cheaper renewable energy
• Think Progress: Renewable portfolio standards have delivered cheaper renewable energy
• Vox: Don’t bother waiting for conservatives to come around on climate change
• Greentech Media: Infrastructure Fund Buys Community Solar Developer Clean

Opinion

• Utility Dive: As California utilities falter, legislators, governor back ‘tower of finance’ solution to wildfire costsVox: Americans love clean energy. Do they care if it includes nuclear?

Have a great day!

Yann

Have a great weekend! 

• Axios: The stakes of Ford’s $500 million electric vehicle investment
• Greentech Media: Tesla Suffers Deep Q1 Loss as Solar Installs Continue to Plummet
• Utility Dive: Sempra Energy completes renewables exit with closure of 724 MW AEP wind deal
• Bloomberg: The Japanese Engineer Building Tiny Moon Rovers
• PV-Tech: PPA signed for 75MW PV project in South Carolina
• GreenBiz: The big truck makers are starting to take electric trucks seriously
• Energy Storage News: Duke to sell stake in solar, wind and storage portfolio to John
• News and Observer: Solar panels on every new rooftop? Chapel Hill considers local steps on ‘climate crisis’

Opinion

• Vox: Americans love clean energy. Do they care if it includes nuclear?

Have a great day!

Yann

Earnings Season. Tesla earnings are always interesting because they kick off the residential solar data flow that I am currently personally interested in with my day job given that I run a racking company. Tesla, without really trying, installed 47MW of solar on  down from 73MW last quarter. Sunrun and Vivint Solar will be following with Q1 data shortly to see how it plays out. It has been raining in California and Q1 is historically the worst in terms of builds and backlog growth. I am also listening for input on impact from tariffs especially on racking supply given that Sunrun and Tesla both have a big investment in their own racking systems through their (long ago) acquisitions of SnapNrack and Zep accordingly. Their growth also means the growth of the overall solar market which is a market positive and enables other companies to reinvest into their own businesses. Q1 in the books and we’re rolling on Q2, let’s go!

• Bloomberg: Now Tesla Isn’t Even Among Top Two Players in U.S. Rooftop Solar
• Renewable Energy World: Iowa pork producers stall utility efforts to upend solar net metering
• Think Progress: Even this conservative poll’s misrepresentation of Green New Deal is popular
• Greentech Media: Facebook and Dominion Energy Ink Deal for 350MW of Solar
• Rocky Mountain Institute: How Community-Scale Solar Can Change Our Energy System
• Utility Dive: New York targets 1.5 TWh of new renewables with latest solicitation

Opinion

• kWh Analytics: Demystifying bank solar asset management with U.S. Bank, Wells Fargo, and kWh Analytics

Have a great day!

Yann