PG&E Shuts Down Again. 2 years ago you recall my climate refugee status as I fled a hurricane in Florida. This weekend I sat in my office with kids in tow as PG&E expanded the blackouts beyond the previously announced shutoff areas to include my home and their school. When I grew up in Germany, we had ‘heat days’ when it was too hot (75 degrees) but now the kids in California can say they miss school because the air is full of smoke and the power is out. There will be plenty said about largest ever blackout in California but thinking this will be the norm over the next decade is clearly insanity.
Newsom Isn’t Happy. “Your years and years of greed. Years and years of mismanagement. Years and years of putting shareholders over people. Are OVER.” Those are the words from the Governor as he moves towards finding a partner to take over the broken utility. Wall Street also brought the stock to the lowest levels ever, a market cap of 12% of their annual revenues. Here’s the video
And Shut Down By Warren. There were some reports that Governor Newsom had asked Berkshire Hathaway to make a bid for PG&E which was quickly shut down by Warren Buffett himself. The theory is correct though, someone should bid to take over the assets with a clear vision and a responsibility to serve.
The Resi Microgrid Play. Two weeks ago I wrote, 600k more solar leads. It’s much more than that. Consumers across the Country are seeing the headlines that show utilities inability to serve their electric needs regardless of the demand charges levied on them. For one, the team at Generac that led the acquisition of Pika Energy is going back to the board and asking for major capital infusions based on how right they were. Generac is selling gas generators like crazy and all of the residential storage providers will sell more in the next quarter than they have supply for. Generac also led the investment into a residential solar software platform called Solargraf, making their move into the customer facing side of the value chain. I expect to see Solaredge and Enphase following down this path.
An ITC Coming? Speaking of storage, all of these headlines on climate disasters is going to make legislators think about their backup energy plans personally. What would you do if your power went out for a day, two days or a week? Should be the question asked of legislators. I’m handicapping storage addition to the ITC extension at over 50% for the first time. Once a long shot but I see the trend coming the right way.
Stay Safe. If you are affected by the fires raging in Northern or Southern California and need help, let me know. There is a network of peers here that are ready and willing to lend a helping hand. Stay safe and listen to the warnings.
- New York Times: PG&E Shuts Off Power in Northern California as Residents Flee Fires
- CNBC: Berkshire Hathaway is not buying utility PG&E, Warren Buffett says, knocking down earlier report
- Bloomberg: ‘Decade of Darkness’ for California Spurring Generator Windfall
- PV-Tech: Storage ITC could be ‘more impactful’ than any other policy
- Greentech Media: Tesla Unveils Latest Version of Solar Roof While Dodging Big Questions
- Grist: Supreme Court permits Baltimore suit against energy companies to continue
- Utility Dive: Adding renewables in LA is hard. The state’s 5th largest power provider wants to change that.
Opinion
Best, Yann
The post This is your SolarWakeup for October 28th, 2019 appeared first on SolarWakeup.com.
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