No Contract, No Term, Discovered. After my comments about a no FICO score community solar contract, I heard from many of you that Nexamp was doing just that so I spoke with several members of their executive team last week about their offering. As background, the company is both a developer and owner of community solar assets offering homeowners a contract that is a simple discount to the savings rate without having to run a FICO score. Homeowners are the target through mostly digital marketing and even though the contract has no term and easy cancellation, homeowners have a hard time differentiating between community solar and retail energy providers. After educating the customer, Nexamp has found success in attracting customers as well as financing projects. Financing is made easier since Mitsubishi backs the company for equity, sponsor and tax, but lenders are not charging extra for the lack of FICO. Absent of getting in a room with tax equity investors, I don’t know how scalable the approach is but it surely gives Nexamp a leg up for customer acquisition. Good to see others are playing outside of the sandbox.
More Fires. Amazon is out with a comment that they also had a fire on a SolarCity developed and owned project. I’m getting a bit annoyed about the fires being labelled as Tesla panels because it doesn’t appear to be that accurate. All indication from O&M pros is that this is related to poor wiring and wire management practices which makes me ask why this isn’t happening on other projects. Tesla isn’t the only operator of solar projects that had subpar installations but maybe they got away with less independent engineering oversight than those using all outside capital sources.
Matching Up To EEI. If you’re not criticizing or punching those bigger than you then you are a bully. That’s why I read with joy the critique of DTE Energy’s resource plan by SEIA. SEIA normally plays inside the lines, both aisling their statements to achieve an outcome with a win-win understanding. This ain’t it and I want more of it.
Next Dem Administration. When the White House eventually gets a democrat resident, the solar industry needs to stage a takeover of the TVA board. I’m talking Abby Hopper, Anne Hoskins, David Crane, solar pro types. Experience in the sector but no doubt about the fact that no-one is writing a plan to add solar by 2038! I want to write a plan to put solar on every house and power every school with solar.
Sad Solar News. It was with great sadness that I heard yesterday that the founder and former CEO of SolarEdge passed away at the age of 54. SolarEdge is a great example of success in solar, from founding in 2006 to a market cap nearing $4billion with hundreds of millions in cash on the balance sheet. In a sea of rising boats, SolarEdge has shown capital markets that hardware in clean tech is possible and profitable. My thoughts are with Guy’s family and the SolarEdge team.
- Gizmodo: Amazon Echoes Walmart’s Claims That Tesla Solar Panels Sparked Rooftop Fire
- PV-Magazine: SEIA shreds DTE Energy’s resource plan
- Axios: DNC votes against holding a climate change debate
- Vox: Jay Inslee, exiting the presidential race, reflects on his campaign
- Utility Dive: TVA board approves long-term plan adding 14 GW solar by 2038
- PV-Tech: BNEF puts Ginlong among top three Asian inverter brands
- Greentech Media: Hawaiian Electric Seeks Bids for 900MW of ‘Dispatchable Renewables,’ Storage and Grid Services
Opinion
Have a great day!
Yann
The post This is your SolarWakeup for August 26th, 2019 appeared first on SolarWakeup.com.
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